Manufacturers in the PET Bottles Sector Strive to Use Innovative Methods that Emphasize Sustainability
Research from Future Market Insights predicts that the global PET bottles market is expected to expand at a CAGR of 4.46% over the forecast period. By 2032, the market value is anticipated to reach US$ 61.16 billion.
Attributes
Details
PET Bottles Market Size Value in 2022
US$ 41.47 billion
PET Bottles Market Forecast Value in 2032
US$ 61.16 billion
PET Bottles Market Growth Rate (2022 to 2032)
4.46% CAGR
Technology advancements have improved the market outlook for PET bottles. For instance, producers have developed a plasma-based coating that increases the natural imperviousness of PET bottles. In addition, they have begun using silver to lengthen the product's shelf life.
Moreover, the PET bottle sector has also been impacted by recent changes to packaging laws in many nations. For instance, manufacturers are developing fresh interior coating techniques like FreshSafe PET in accordance with the new German Packaging Act, which enables bottle-to-bottle recycling. Application of PET bottles is not limited.
It serves industries like:
Food and Beverage
Pharmaceutical
FMCG
Chemical
Gas Industries
Others
Additionally, the idea of InnoPET FormFill, which molds and fills plastic containers in a single step, has been well accepted, as it uses less energy overall, takes up less space, and generates more savings than BloFill systems.
PET's use in the production of bottles has advanced in this era of globalization, with environmental sustainability due to the 70% recycling rate it offers. The fact that it is durable, inexpensive, shatterproof, and non-reactive further contributes to its rising demand for PET bottles.
The Smart Line concept focuses primarily on advances in the following areas: user-friendly machinery, ideas for concurrently filling many goods on a single line, easier, quicker, and more reliable format changes, and resource conservation in the production process.
PET bottles may be molded into a variety of shapes due to their flexibility, which enhances both their aesthetic appeal and practicality. Manufacturers are emphasizing distinctive packaging and various-sized packs to differentiate their brands, which is boosting the need for PET bottles with specialized forms, colors, and designs.
One of the most lucrative and successful manufacturing opportunities in the plastic and polymer sector is the production of pet jars or pet bottles. In the next six years, the polymer consumption of the Indian plastics industry is predicted to double.
In addition, manufacturers are working with reputable logistics and transportation firms to deliver goods on schedule in order to compete in the market.
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PET Bottles Market: An Overview
PET bottles are among the most important and popular packaging types worldwide. Change in consumer preference from glass to plastic bottles is due to the numerous offerings of PET bottles. Lightweight, shatter resistance, and good compatibility with module mode technology are among the factors of PET bottles that draw the attention of various end-use industries.
Today, PET bottles are widely used for packaging of food, beverages, cosmetics, and personal care products, pharmaceuticals, chemicals, nutritional supplements, and other consumer goods. PET bottles are free from BPA and meet many national as well as international legislation.
PET bottles can be filled via aseptic filling, cold filing, or hot filling which ensure the safety and improve the shelf life of products. Thus, the global outlook for the PET bottles market is expected to remain positive during the forecast period.
PET Bottles Market: Dynamics
The advancement in the packaging industry and the introduction of customized PET bottles in current years have led to an increase in the demand for PET bottles worldwide. An exclusive bottle design, unique properties, versatile shapes, adjustable volume, and thermal stability combine to make PET bottles stand out on the shelves and appear as a key choice for various end-use industries.
These factors are expected to drive the growth of the global PET bottles market during the forecast period. The introduction of transparent PET bottles for various food and beverages has proven to increase the sales of products as customers get a clear insight into the products.
Hence, the market share for PET bottles is especially growing in beverage packaging. The rising popularity of carbonated drinks across the globe and the extensive use of PET bottles for their packaging are expected to propel the growth of the global PET bottles market during the forecast period.
The printing and lamination features on PET bottles offer an excellent opportunity for manufacturers and brand owners to promote their brand value. Also, the highly recyclable nature of PET bottles as compared to other plastic bottles is expected to create a positive outlook for the growth of the global PET bottles market during the forecast period.
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PET Bottles Market: Regional Outlook
Western Europe is expected to dominate the global PET bottles market during the forecast period. High technological advancements and the growing consumer preference towards convenient packaging solutions are expected to drive the Western Europe PET bottles market during the forecast period.
The Asia Pacific excluding Japan (APEJ) region is expected to follow the Western Europe region in terms of market size and is projected to expand with a high growth rate during the forecast period. The countries in the APEJ region such as China and India are expected to witness significant demand for PET bottles during the forecast period.
The North American region is a significant shareholder of the global PET bottles market and is projected to flourish at a healthy CAGR during the forecast period. The continuous expansion of end-use industries in Latin America is expected to push the growth of PET bottles market during the forecast period.
The regions such as Latin America and Middle East & Africa are expected to register healthy CAGR of PET bottles market during the forecast period. The PET bottles market in Japan is anticipated to expand with a positive CAGR during the forecast period.
PET Bottles Market: Key Players
Some of the key players operating in the global PET bottles market are:
Amcor Limited
Berry Global
Alpha Packaging, Inc.
Gerresheimer AG
Graham Packaging Company
Plastic Bottle Corporation
MCorp Technologies
Taiwan Hon Chuan Enterprises Co., Ltd.
Esterform Ltd
Retal Industries Ltd
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Regional Analysis Includes-
North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan (APEJ)
Middle East & Africa (MEA)
Japan
PET Bottles Market: Segmentation
On the basis of capacity, the PET bottles market is segmented into:
Less than 250 ml
250-500 ml
501-750 ml
751-1000 ml
1001-2000 ml
More than 2000 ml
On the basis of end use, the PET bottles market is segmented into:
