PET preforms continue to see sustained adoption, prominently owing to continued demand from bottled water industry and single-serve beverages sector. A new Future Market Insights (FMI) study projects global PET preforms market to expand at a promising 5% CAGR during 2019 - 2029. F&B, pharma, and personal care & cosmetics industries would remain key consumers of PET preforms market over the foreseeable future.
The report analyzes how the market will shape up, in the backdrop of recently imposed ban on single-use plastics and environmental concerns surrounding the usage of plastic bottles by packaging industry.
Key Takeaways - PET Preforms Market Study
- Demand for PET preforms will remain prominent in F&B industry throughout the forecast period.
- Sales of PET preforms in developing regional markets will be on a higher side.
- Growing popularity of single-serve beverages and grab and go products is pushing demand for smaller sized bottles and containers. Up to 500 ml PET preforms would thus continue to gather high traction.
- High functionality, lighter weight, greater comfort of use, sustainable production, and recyclability will be the key parameters shaping sales of PET preforms in global market.
The multi-billion-dollar PET preforms market has been recently facing threat of the anti-plastic movement, which compels manufacturers to speed-up their shift towards sustainable materials that offer properties similar to that of PET. With possibilities of working with recycled PET, companies are strategizing on extending a step towards sustainability that would enhance their brand image.
Emerging Alternatives Creating a Roadblock Ahead
Introduction of alternate packaging solutions such as liquid cartons has reduced the demand for PET preforms to some extent in developed as well as developing countries. Moreover, brands are dedicating sizeable investments to R&D of innovations in their existing production lines so as to curtail the usage of PET preforms in line with sustainability targets.
For More Detailed Insights on PET Preforms Market
Liquid cartons have gained significant traction in last few years due to their 100% disposability and recyclability. A number of companies in the beverages sector are thus opting for liquid cartons as primary packaging application over PET preform bottles. More than 140 billion liquid cartons are manufactured in the world every year, which is continuously diminishing demand prospects of PET preforms packaging products.
Moreover, other alternatives of PET preforms packaging are plant-based bottles that are made of 100% eco-friendly resins such as PLA, and PHA that deliver barrier properties similar as that of PET preform-based bottles. These factors are projected to hamper the sales of PET preforms in the near future.
Find More About PET Preforms Market Study
Future Market Insights, in its new offering, brings to fore a neutral analysis of the global PET preforms market, presenting historical demand data (2014-2018) and forecast statistics (2019-2029). The study reveals compelling understandings on the PET preforms market on the basis of capacity (up to 500 ml, 500 ml to 1000 ml, 1000 ml to 2000 ml, and more than 2000 ml), neck type (ROPP/BPV, PCO/BPF, alaska/bericap/obrist, and others), end use (beverages, food, personal care, home care, pharmaceuticals, and others), and distribution channel (direct and indirect), across seven major regions.
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About Packaging Division at FMI
Expert analysis, actionable insights, and strategic recommendations - the Packaging team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the packaging industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Packaging division of FMI
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.