ALBANY, New York, October 4, 2017 /PRNewswire/ --
The global eco-friendly bottles market has exhibited solid growth in the last few years due to the growing government support and mass popularity of environmental conservation solutions. Eco-friendly bottles represent a crucial step in making sure the modern human lifestyle doesn't harm the environment beyond repair. The rising popularity of environmental conservation is thus likely to remain the key driver for the global eco-friendly bottles market in the coming years.
The global eco-friendly bottles market is expected to be valued at more than US$2.5 bn by the end of 2017 and is likely to rise to more than US$3.7 bn by 2022 at a CAGR of 8.1%.
The key driver for the eco-friendly bottles market is, as mentioned above, the growing support and governments as well as customers for environmental solutions that help conserve natural resources. Growing awareness about the extent of environmental problems of our times among the masses has made a real difference to the global eco-friendly bottles market. Recognizing this, many governments have prioritized environmental conservation in their fiscal and regulatory movements, lending solid support to the eco-friendly bottles market. The steady inflow of funding enabled by the solid government support is vital for the eco-friendly bottles market, as the technology behind eco-friendly bottles is complicated and still relatively expensive.
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The growing use of bottles in modern times is closely linked to the rapid growth of the food and beverage industry. The food and beverage industry has expanded at a rampant rate in developed urban regions in recent years, leading to solid growth in the demand for bottles. Mineral water production has become one of the key parts of the food and beverage sector, in addition to being a major consumer of bottles. This is likely to enable steady growth of the global eco-friendly bottles market in the coming years. The demand for bottled beverages is also helped by the rapid growth in demand for health drinks and various other innovations in the food and beverage sector, which will drive the demand from the global eco-friendly bottles market in the coming years.
The eco-friendly bottles market is dominated by developed regions due to the widespread awareness regarding the importance of ecological conservation. However, developing countries in regions such as Southeast Asia could become major players in the global eco-friendly bottles market due to their rising consumption of bottles for mineral water, beverages, as well as household cleaning liquids. The rising disposable income of consumers in Asia Pacific except Japan is likely to enable smooth growth of the regional market in the coming years, with the region expected to create an absolute opportunity of US$252.2 mn over the 2017-2022 forecast period. Japan is also likely to contribute significantly to the global eco-friendly bottles market over the coming years, with the regional market expected to reach US$228.2 mn over the 2017-2022 forecast period at a CAGR of 6.2%.
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Developed regions such as North America and Europe are likely to dominate the global eco-friendly bottles market in the coming years. The North America eco-friendly bottles market is expected to exhibit a robust CAGR of 12.7% from 2017 to 2022, rising from a valuation of US$617.2 mn to US$1,123.4 mn, the latter representing close to 30% of the global eco-friendly bottles market. However, Europe is the dominant regional contributor to the global eco-friendly bottles market, with the region expected to account for more than 32% of the global market by the end of 2017.
Leading players in the global eco-friendly bottles market include EcoXpac A/S, One Green Bottle, Earthlust, Ecologic Brands Inc., SKS Bottle and Packaging Inc., Cascade Designs Inc., Pachamama, and Pepsi-Cola Metropolitan Bottling Company.
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