The global plastic bottle market is expected to grow significantly during the forecast period. Growing applications in the pharmaceutical and cosmetic industries are driving the demand for plastic bottles. Compared with other inflexible, expensive, fragile and heavy materials (such as glass and metal), the demand for PET in pharmaceutical packaging has increased. PET material is the first choice for solid oral preparation packaging systems. PET is commonly used for packaging liquid oral pharmaceutical preparations. In addition, it is the most commonly used plastic for the packaging of drugs for the elderly and children, as well as ophthalmic applications. Several pharmaceutical companies use different methods and materials to package ophthalmic products. Plastic bottles are usually used for packaging ophthalmic products, depending on the needs of specific products. Plastic bottles are usually made of high-density polyethylene (HDPE), low-density polyethylene (LDP), polypropylene (PP) and other materials. Geographically, due to the increasing demand for plastic packaging and the expansion of the pharmaceutical and food and beverage industries in the region, the Asia-Pacific region is expected to achieve potential growth during the forecast period. According to the forecast of the Indian Brand Equity Foundation (IBEF), by 2025, the Indian pharmaceutical industry will reach 100 billion US dollars. Between April 2000 and March 2020, foreign direct investment attracted by the pharmaceutical industry totaled US$16.5 billion. This indicates that the country’s pharmaceutical industry is expanding, which in turn may accelerate the demand for plastic bottles for strong and lightweight pharmaceutical preparation packaging. Some of the major players in the market include Amcor plc, Berry Global Group, Inc. Gerresheimer AG, Plastipak Holdings, Inc. and Graham Packaging Co.. Market participants are adopting some key strategies, such as mergers and acquisitions, product launches, and partnerships to improve competitiveness. For example, in July 2019, Berry Global Group, Inc. acquired RPC Group Plc (RPC) for nearly US$6.5 billion. RPC is a provider of plastic packaging solutions. The combination of Berry and RPC will enable us to provide value-added protection solutions and become one of the world’s largest plastic packaging companies.
Post time: Sep-15-2020