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The bio-based pet market share is expected to increase by 1.25 million tons from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 45.44%.
This bio-based pet market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers bio-based pet market segmentations by application (bottles and others) and geography (North America, Europe, APAC, South America, and MEA). The bio-based pet market report also offers information on several market vendors, including Braskem SA, Danone SA, Gevo Inc., Nestle SA, Origin Materials, PepsiCo Inc., Plastipak Holdings Inc., The Coca-Cola Co., Toray Industries Inc., and Toyota Tsusho Corp. among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing demand from carbonated soft drink (csd) market is notably driving the bio-based pet market growth, although factors such as high price and shortage of raw materials may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bio-based pet industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Bio-based PET Market Driver
The increasing demand from the carbonated soft drink (CSD) market is one of the key factors driving the growth of the global bio-based PET market. The Coca-Cola Company and PepsiCo are estimated to be the major companies in the market. In addition, the increasing consumption of CSD in BRICS is expected to drive the demand for sustainable packaging material, such as bio-based PET, during the forecast period. Advertising campaigns and promotional activities by the bottling investment sub-segment have helped this category perform well. Pricing will be a crucial factor as consumers opt for the best deals. Nestlé Waters and Danone collaborated with Origin Materials of West Sacramento, California, the US, to form the NaturALL Bottle Alliance. This startup aims at developing the process required for the production of a 95% bio-based PET bottle by 2022. The above factors will increase the market growth during the forecast period.
Key Bio-based PET Market Trend
The increase in the use of bio-based PET products will fuel the global bio-based PET market growth. People in many countries are raising environmental and sustainability concerns with packaging manufacturers. Many consumer product manufacturers prefer using eco-friendly packaging materials as they provide an opportunity to promote environmental sustainability. The increased environmental concerns and the need to reduce pollution have led to more emphasis on the sustainability of the environment. In packaging, the use of plastic and resins derived from renewable resources is being emphasized. These factors are expected to encourage the packaging vendors to research and develop new materials or incorporate new eco-friendly designs that encourage minimal use of non-biodegradable materials in packaging. Therefore, they prefer to use recyclable and biodegradable packaging materials. Bioplastic packaging products are more sustainable than conventional plastic packaging products. Bioplastic packaging consumes lesser energy, is lighter in weight, and it generates lower CO? emissions than conventional plastic packaging. Besides, bioplastic packaging products enable consumer goods manufacturing companies to improve their brand image by reducing their carbon footprint.
Key Bio-based PET Market Challenge
The high price and shortage of raw materials are a major challenge for the global bio-based PET market growth. Bio-based products are assessed on strategic performance and technical performance. Bio-based plastics are usually costlier than traditional materials. Companies face supply chain challenges when they switch raw materials. Multinational brand owners such as Coca-Cola Company, Nestlé, PepsiCo, Danone, Ford Motor Company, Mazda, Toyota, Procter & Gamble, AT&T, and other companies use bioplastics in their products or packaging. Companies are willing to pay a high price for technical-grade bioplastics. Moreover, The price of raw materials has a direct influence on the global bio-based PET market. The raw materials used for manufacturing bio-based PET include starch, glucose, vegetable oils, and cellulose. They are derived from various agricultural products or plant residues and are further processed into bio-based PET. The manufacturing of bioplastics does not pose a challenge to the renewable feedstock used for food crops.
This bio-based pet market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
The global bio-based PET market is a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bio-based pet market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the bio-based pet market encompasses successful business strategies deployed by the key vendors. The bio-based pet market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The bio-based pet market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the bio-based pet market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global commodity chemicals market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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51% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for bio-based pet market in APAC. Market growth in this region will be faster than the growth of the market in regions.
The increasing demand from the carbonated soft drink (CSD) market will facilitate the bio-based pet market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 in the region hampered the growth of the regional bio-based PET market in the consumer and manufacturing industries. Several countries such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines were under partial or full lockdowns due to the pandemic in 2020. This led to a temporary shutdown of the manufacturing of bio-based PET, which negatively impacted the growth of the bio-based PET market in the region in 2020. Furthermore, the second wave of COVID-19 in India decreased the market revenue of bio-based PET for Q1 2021. However, resuming manufacturing operations of bio-based PET post lockdowns is expected to boost the market’s growth during the forecast period.
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The bio-based pet market share growth by the Bottles segment will be significant during the forecast period. The global bio-based PET market by the bottles segment is expected to register high growth during the forecast period due to the wide use of bio-based PET in various types of bottle packaging. It (bio-based PET) is used for packaging mineral water, CSDs, dairy products, alcohol, and beverages. It is also used for manufacturing bottle caps.
This report provides an accurate prediction of the contribution of all the segments to the growth of the bio-based pet market size and actionable market insights on post COVID-19 impact on each segment.
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Bio-based PET Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 45.44% |
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Market growth 2021-2025 |
1.25 mn tons |
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Market structure |
Concentrated |
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YoY growth (%) |
29.92 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
APAC at 51% |
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Key consumer countries |
US, China, Germany, Canada, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Braskem SA, Danone SA, Gevo Inc., Nestle SA, Origin Materials, PepsiCo Inc., Plastipak Holdings Inc., The Coca-Cola Co., Toray Industries Inc., and Toyota Tsusho Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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