Market Size of China Plastic Bottles Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.40 Million |
| Market Size (2029) | USD 1.53 Million |
| CAGR (2024 - 2029) | 1.78 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Plastic Bottles Market Analysis
The China Plastic Bottles Market size is estimated at USD 1.40 million in 2024, and is expected to reach USD 1.53 million by 2029, growing at a CAGR of 1.78% during the forecast period (2024-2029). In terms of production volume, the market is expected to grow from 1.54 million tonnes in 2024 to 1.68 million tonnes by 2029, at a CAGR of 1.68% during the forecast period (2024-2029).
China is a global leader in plastic consumption. Fueled by abundant raw materials and a cost-effective production environment, the country has seen a notable uptick in plastic production. This would encourage the market for plastic bottles in the country.
Rising demand from China's food and beverage industries is rapidly fueling the plastic bottles market. Notably, the surge in demand for PET plastic bottles, used to package water, juices, soft drinks, medications, household chemicals, and personal care items, stands out as a critical driver of the market's expansion.
The demand for plastic bottles is expected to rise, driven by a surging population, rapid urbanization, and a notable shift from metals to plastics. According to the National Bureau of Statistics of China, the degree of urbanization in China in 2023 reached 66.16%, up from 63.89% in 2020. The nation's growing preference for beverages further bolsters this trend.
The growth of the Chinese plastic bottles market is intricately tied to factors such as the rising disposable incomes of consumers and a strong emphasis on innovative packaging solutions. According to the National Bureau of Statistics of China, the annual per capita disposable income for urban households in China in 2023 was CNY 51,821 (USD 7,332), up from CNY 47,412 (USD 6,708) in 2022.
According to a study by Just China It, a sourcing and shipping solution company, China's plastic production stands at 95.7 million tons, encompassing both usage and recycling. This indicates China's global importation of plastic waste, emphasizing its commitment to reusability and environmental conservation. PET (polyethylene terephthalate) bottles, commonly used for beverages and food, are recycled in China, bolstering the nation's Green campaign. As demand surged, China's plastic bottle manufacturers expanded their operations.
China has long grappled with plastic pollution, a crisis compounded by its severe air pollution. The nation not only accounts for a significant share, around one-fifth, of global plastic consumption but also stands out as the world's leading manufacturer and exporter of single-use and virgin plastics. In March 2023, the World Bank's management sanctioned a USD 250 million International Bank of Reconstruction and Development (IBRD) loan. The loan was committed to tackling plastic pollution in Shaanxi Province, China.
