SEATTLE, May 12, 2022 (GLOBE NEWSWIRE) -- The global PET bottles market was valued at US$ 565.93 Bn in 2020 and is expected to exhibit a CAGR of 3.87% during the forecast period (2021-2028).
Key Trends and Analysis of the Global PET Bottles Market:
Demand for bottled beverages has increased as a result of the growing tendency of westernization, According to C. Textor Publisher, January, 2022, from 2000 to 2020, disposable income per capita in China increased by around 700%. The fast-growing economy has inevitably led to the rapid income increase as a result rising disposable incomes, and changing consumer dietary patterns, particularly in developing nations such as India and China. Furthermore, consumers’ busy lifestyles have enabled them to choose on-the-go portable beverages such as canned juice. The increasing demand for packaged drinking water among consumers across the world is driving the demand for PET bottles for the packaging of bottled water, as they offer high shelf life, ease of use, and enhanced protection to the products from potential deterioration agents and are cheaper than other packaging alternatives.
The PET bottle industry has been influenced by recent changes in packaging rules in many nations. Manufacturers such as KHS Group, for example, are developing new internal coating methods such as FreshSafe PET to enable bottle-to-bottle recycling in accordance with new German Packaging Act. Furthermore, the InnoPET FormFill concept, which molds and fills plastic containers in one step also it uses less overall energy, takes up less space, and saves money when compared to BloFill systems.
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Key Market Takeaways
The global PET bottles market is expected to exhibit a CAGR of 3.87% over the forecast period (2021-2028). In June 2018, according to the International Bottled Water Association (IBWA), bottled water is the most widely consumed beverage in the U.S. In addition, according to an IBWA report, average bottled water sales in the U.S. totaled US$ 18.5 billion in 2018, representing an increase of 8.8 percent. The per capita consumption of bottled water in 2019 exceeds 44 gallons, a rise of 6.2 percent. This upward trend is predicted to continue, propelling the demand for PET bottles for packaging.
Competitive Landscape:
Major players operating in the Global PET Bottles Market include Berry Plastics Group Inc., GTX Hanex Plastic Sp. Z O.O., Gerresheimer AG, Graham Packaging Company, RPC Group, Rexam PLC, Silgan Holdings, WestRock, Exo Packaging, Alpha Group, and Crown Holdings
Major players are opting for strategies such as mergers, acquisitions, and capacity expansion, owing to the rising demand for PET bottles. For instance, in September 2021, Silgan Holdings Inc. (a supplier of sustainable rigid packaging solutions for consumer goods products) announced that it had acquired Unicep Packaging (a manufacturer of packaging for liquid products and health care products), This acquisition helps develop, formulate, manufacture, and sell precision dosing dispensing packaging solutions such as diagnostic test components, oral care applications, and skincare products, primarily for the health care, diagnostics, animal health, oral care, and personal care markets.\
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Market segmentation:
- Global PET Bottles Market, By Application:
- Beverages
- Carbonated Soft Drinks
- Packaged Water
- Fruit Juice
- Others
- Personal Care Products
- Household Care Products
- Others
- Beverages
- Global PET Bottles Market, By Region:
- North America
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- By Country:
- U.S.
- Canada
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- South Korea
- ASEAN
- Australia
- Rest of Asia Pacific
- By Country:
- Latin America
- By Country:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- By Country:
- Middle East & Africa
- By Country/Region:
- Middle East
- Africa
- By Country/Region:
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