According to Future Market Insights research, the global sugarcane bottles market is expected to reach a valuation of US$ 52.8 Mn in 2022, and to grow at a CAGR of 5.9% to reach US$ 61.2 Mn by 2032. Sugarcane bottle sales are expected to increase, with the top three nations expected to control 35-40% of the market by the end of 2022.
Based on capacity, the 251 ml to 500 ml segment is expected to remain the market leader among other sugarcane bottle capacities. The reason for this is the vast range of applications in diverse end-use industries. Sugarcane bottles with capacities ranging from 251 ml to 500 ml are popular.
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Sugarcane Bottles Market Landscape
- Bottle Up, Worthy,
- BE O Lifestyle,
- LYSPACKAGING,
- Berry Global Inc.,
- Reyoung Corp.,
- Bottle Promotions, and
- The Natural Bottle
are the key players operating in the global sugarcane bottles market. Also, some of the noticeable players operating in the sugarcane bottles are
- Suzhou Fomalhaut Eco-Pack Material Tech Co., Ltd.,
- Fortis X,
- Retulp,
- Velong Enterprises,
- Hangzhou Tianye Packaging Technology Co., Ltd., and others.
Key Takeaways from Sugarcane Bottles Market
- The food & beverage and cosmetics & personal care segments collectively are projected to hold around 62% of the market value share by the end of 2022. Various food & beverage brand and cosmetic brand are adopting chemical-free packaging and biodegradable packaging to gain the attention of eco-friendly consumers which drives the demand for sugarcane bottles
- Capacity wise less than 100 ml bottles are anticipated to perform well in the pharmaceutical industry as they are perfect alternatives for packaging medicines like drops, syrups, medicinal powders, etc.
- South Asia is projected to create a growth opportunity for the sugarcane bottles market due to the increasing production of sugarcane in the region. The South Asia sugarcane bottles market is anticipated to grow 1.6 times the current market value during 2022-2032.
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“The environmental awareness among consumers has increased the demand for recyclable and biodegradable packaging. Sugarcane bottles are gaining traction owing to their ability to preserve the quality of the product as traditional bottles. The printability feature on sugarcane bottles is projected to create growth opportunity for the target market addressing the look and feel of the product” – says an FMI analyst
High Tolerance of Sugarcane Bottles towards Chemicals is Impacting the Growth of the Sugarcane Bottles Market
Chemical resistance to the packaging of products in the industries like cosmetics and personal care and pharmaceuticals plays a critical role. Sugarcane bottles offer a very high resilience against such products and do not react with them under normal conditions making them an excellent alternative to glass or plastics.
Materials such as glass and plastics are manufactured using non-renewable raw materials and are majorly found lying in open land fields creating land pollution. Sugarcane bottles along with comparable properties are bio-based and get decomposed easily. Big pharma and cosmetic brands are constantly at war with authorities trying to tackle pollution problems. Despite being a little costly, sugarcane bottles are slowly trying to replace polluting materials while offering customizable containers of different shapes, and sizes and excellent chemical tolerance for the different end use industries.
Impact of Covid-19 on the Sugarcane Bottles Market
During the Covid-19 pandemic, supply of the sugarcane which is used as raw material for the production of sugarcane bottles became irregular, impacting the production of sugarcane bottles. The Covid-19 pandemic resulted in a lockdown situation that impacted various segments of the packaging industry. The rapid spread of the virus posed several challenges to the end use industry.
On the other hand, there was some upside in food & beverage and pharmaceutical products which had a slightly positive impact on the sugarcane bottles to a certain extent. Later, the situation began to normalize and the various end use industries started to operate with full efficiencies to cater to the demand and cover the financial damages. This created a growth opportunity for the sugarcane bottles market.
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Sugarcane Bottles Market Report
Future market insights, in its new report, offers an unbiased analysis of the global sugarcane bottles market, analyzing historical demand from 2015-2021 and forecast statistics for 2022-2032. The study reveals market growth projections on the sugarcane bottles based on the capacity (less than 100 ml, 101 ml to 250 ml, 251 ml to 500 ml, more than 500 ml), end use (food & beverage, cosmetics & personal care, pharmaceutical, consumer durables), and distribution channel (online, offline) across seven regions.
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The post Increasing Adoption of Sustainable and Bio-Based Packaging Options is Expected to Boost the Sales of the Sugarcane Bottles appeared first on Future Market Insights.
Published by: Future Market Insights, Inc.