Sustainability and ESG Models to Be Pillars of Paper Bottles Market Growth, Evaluates Fact.MR
Published : 30 Jun 2021 Industry: Consumer Goods
As per a new report published by Fact.MR - a market research and competitive intelligence provider, the paper bottles market is valued at US$ 25.2 Mn, as of 2020, and is poised to expand at a CAGR of more than 6% over the next ten years.
Demand for paper bottles witnessed an upsurge with increased adoption of the sustainability and holistic approach by key manufacturers. Governments in almost all regions are aiming to reduce plastic usage and shifting to sustainability in future. Key manufacturers of paper bottles are considering ESG factors in their business models to foster lucrative growth potential in the market.
The market is propelled by North America, accounting for notable demand and supply of paper bottles, followed by Europe and the East Asian region. North America has maximum number of manufacturers positioned due to ease of raw material availability, growing economies, and heightened infrastructure investments. Also, the region carries a consumer base with high disposable income leading to higher purchasing power, thereby driving market growth.
Key Takeaways from Market Study
- The paper bottles market is anticipated to add 1.8X value by 2031.
- Packaging bottles capture a major chunk, equivalent to more than half of the global market share, and are set to create an absolute $ opportunity of around US$ 1.7 Mn over 2021-2031.
- Under compostability, partially compostable bottles has been the fastest-growing segment owing to rise of sustainable and biodegradable product adoption globally over the past decade.
- North America is set to dominate market revenue in 2021, but is expected to lose 283 BPS by 2031.
- Due to the COVID-19 crisis, demand for paper bottles was hit in 2020, which saw a decline of 2.6% over the 2nd and 3rd quarters of the year.
“Packaging application holds most lucrative opportunities for paper bottle manufacturers,” says a Fact.MR analyst.
Key manufacturers of paper bottles must look forward for increased production capacity and prioritise geographical expansion to gather prominence in the business. This shall help businesses witness growth in the medium- to long-term forecast period.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global paper bottles market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of type (water bottles and packaging bottles), compostability (fully compostable and partially compostable), end use (household and commercial packaging [wine and spirits, food and supplements, personal care products, home care products, pet care products, and others]), volume (less than 2 liter, 1-2 liters, and more than 2 liters), and sales channel (offline [direct procurement, retail sales, supermarkets and hypermarkets, and specialty stores] and online (company websites and third-party online]), across six major regions of the world (North America, Latin America, Europe, East Asia, South & West Asia, and the Middle East & Africa).
Fact.MR’s Domain Knowledge in Retail and Consumer Goods Division
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned consumer products team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the retail and consumer goods industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
For more information, refer to our market research report or contact the PR author.
Sr. Consultant – Retail and Consumer Goods