Author: Vikas Kumar
12 January 2023
The global PET bottle market is likely to showcase a growth of around 5% during the forecast period. Increasing demand for packaged food & beverage owing to changing lifestyles coupled with a high recycling rate and improving per capita income are some of the key factors that are driving the market for PET bottles.
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After showing robust growth over the years, the global beverage industry is witnessing moderate growth. However, the same is not the case with the beverage packaging industry owing to frequent changes in packaging type which helps in the traction of consumers. However, one thing is still quite common in the changing beverage packaging i.e., the use of PET bottles. Ranging from packaged water to carbonated soft drinks and fruit juice to energy drinks, PET bottles are widely preferred packaging among companies due to its food & beverage-supporting properties.
Moreover, increasing focus on the circular economy among companies in order to comply with government rules & regulations, recycled packaging is among the top circular economy initiatives among many companies. PET is 100% recyclable and is nearly infinitely recyclable and because it can be made into new products, this lowers the need for fresh PET to be made, further reducing emissions. Its high recyclability also makes it less likely to end up in landfill and around 58% of PET bottles are recycled in Europe.
For a detailed analysis of the market, drivers browse through-https://univdatos.com/report/pet-bottle-market/
Based on the technology, the market is categorized into injection blow molding, extrusion blow molding, and others. In the food & beverage industry, companies are commonly preferred injection blow molding as they are able to produce large volumes of quality bottles quickly and accurately thereby helping the companies to maintain operation efficiency and meet the growing demand.
Based on application, the market is categorized into bottled water, carbonated drink, dilutable, fruit juice, sports & energy drinks, still & juice drinks, and others. Of all, the fruit juice category is likely to showcase significant growth in the future timeframe. This could be ascribed to the increasing demand for healthy food & beverage over conventional on-the-go drinks like carbonated drinks among a significant population.
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For a better understanding of the market adoption of PET Bottle, the market is analyzed based on its worldwide presence in the countries such as North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and Rest of World. The Asia-Pacific region holds a prominent market share and is expected to showcase significant growth over the forecast period. The rising food & beverage industry in the regional economies in order to mitigate the growing demand is one of the key factors for the growth of the PET bottle market in the region. Moreover, westernization culture in regional economies like India is increasing the demand for packaged food & beverage, thereby fueling the market growth for PET bottles.
Global PET Bottle Market Segmentation
Market Insight, by Technology
• Injection Blow Molding
• Extrusion Blow Molding• Others
Market Insight, by Color
• Transparent
• Colored
Market Insight, by Application
• Bottled Water
• Carbonated Drink• Dilutable• Fruit Juice• Sports & Energy Drinks• Still & Juice Drinks• Others
Market Insight, by Region
Top Company Profiles
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