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The PET bottle market share is expected to increase by USD 11.21 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.07%.
This PET bottle 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 PET bottle market segmentation by end-user (food and beverage, household, personal care, and others) and geography (APAC, Europe, North America, MEA, and South America). The PET bottle market report also offers information on several market vendors, including Amcor Plc, Alpha Plastics Inc., BASF SE, BERICAP Holding GmbH, Berry Global Group Inc., Captiva Co., Cospack America Corp., Graham Packaging Co., Ontario Plastic Container Producers Ltd., and Plastipak Holdings Inc. among others.
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The rising adoption of PET as a packaging solution is notably driving the PET bottle market growth, although factors such as stringent government regulations and policies on the use of plastics may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the PET bottle industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key PET Bottle Market Driver
The rising adoption of PET as a packaging solution is one of the key drivers supporting the PET bottle market growth. The PET packaging solution is globally implemented successfully for encasing products such as beverages, food, and others. The use of PET bottles for beer is gaining popularity in the eastern and central parts of Europe. They have the primary advantage of weighing less than glass and metal ones. These bottles are the preferred packaging option across various end-user industries for reduced transportation emissions and resources in the supply chain. As a result, the global demand for the bottles is rising and will register a CAGR of about 4.07% during the forecast period. This will facilitate the growth of the global PET bottle market during the forecast period.
Key PET Bottle Market Trend
The growing popularity of lightweight packaging is another factor supporting the PET bottle market growth. Lightweight packaging is both cost-effective and recyclable. For instance, glass packaging solution is heavy. It is cumbersome to transport products packed in glasses. This packaging solution also increases the cost of production and bottling. Therefore, goods manufacturers are moving toward the adoption of lightweight plastic packaging. For instance, in August 2019, Amcor Plc (Amcor) launched lightweight PET bottles for pasteurized beer in Brazil. Thus, the growing popularity and demand for this lightweight packaging material globally have positively impacted the demand for PET bottles.
Key PET Bottle Market Challenge
Stringent government regulations and policies on the use of plastics is hindering the PET bottle market growth. Plastics are non-biodegradable in nature and remain in the environment for a long time. Plastic beverage packaging waste is one of the significant packaging waste contributors in the world. On average, about 28.4 million tons of plastic packaging waste is generated per year in the EU countries, out of which only less than 40% is recycled. As a result, various international regulatory bodies and governments across the world are introducing regulations to minimize the use of plastics as packaging film. For instance, in January 2018, the EU formulated a region-wide strategy on the use of plastics. As per the new policy, all types of plastic packaging in the EU countries must be recyclable or reusable, and businesses should reduce plastic waste. Therefore, an increased number of regulations with respect to the use of plastics is expected to hinder the growth of the global PET bottle market during the forecast period.
This PET bottle 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 2022-2026.
Technavio categorizes the PET bottle market as a part of the global metal and glass containers 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 PET bottle 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 PET bottle market encompasses successful business strategies deployed by the key vendors. The PET bottle market is fragmented and the vendors are deploying growth organic and inorganic 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 PET bottle 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 PET bottle market, which vendors can leverage to gain a comPETitive advantage during the forecast period. The end-to-end understanding of the value chains 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 metal and glass containers 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 India are the key markets for the PET bottle market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rising household disposable income will facilitate the PET bottle 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
In 2020, the outbreak of COVID-19 hindered the growth of the regional PET bottle market. Countries such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines were under partial or full lockdowns owing to the pandemic. Moreover, with the initiation of COVID-19 vaccination drives, the number of COVID-19 cases declined in 2021. This resulted in the complete resumption of operations at manufacturing sites for PET bottles. Therefore, these factors are expected to drive the growth of the regional market during the forecast period.
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The PET bottle market share growth by the food and beverage segment will be significant during the forecast period. The food and beverage industry has been the dominant end-user of the global PET bottle market. This is because the most commercially available beverages are sold in PET bottles. Growth in the global population, rise in per capita income, changing consumer habits, and various other factors have played significant roles in driving the demand for packaged beverage products such as CSDs, packed juices, alcoholic beverages, and bottled water. Such factors will drive the market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the PET bottle market size and actionable market insights on post COVID-19 impact on each segment.
Smart Bottle market - The market share is expected to increase by USD 120.74 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 13.65%.
PET Bottle Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.07% |
Market growth 2022-2026 |
$ 11.21 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.41 |
Regional analysis |
APAC, Europe, North America, MEA, and South America |
Performing market contribution |
APAC at 51% |
Key consumer countries |
US, China, India, Germany, and UK |
ComPETitive landscape |
Leading companies, ComPETitive strategies, Consumer engagement scope |
Key companies profiled |
Amcor Plc, Alpha Plastics Inc., BASF SE, BERICAP Holding GmbH, Berry Global Group Inc., Captiva Co., Cospack America Corp., Graham Packaging Co., Ontario Plastic Container Producers Ltd., and Plastipak Holdings Inc. |
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 |
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. |
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