ALBANY, New York, May 9, 2019 /PRNewswire/ -- The PET bottles market is projected to experience high growth in the coming years, observes Transparency Market Research (TMR) on the basis of a recent report. Leading players in the market are focusing on investing in acquisition, collaboration, and partnership to get a lion's share in the market. For instance, Amcor Rigid Plastics has further expanded its term with Campbell Soup Co. Together they have opened an on-site bottle manufacturing operations in Texas. With Amcor's novel in-line expansion, the production of hot fillable PET (polyethylene terephthalate) bottles is expected to reach 50 million every year. Along with Campbell's increased packaging, this will help in reducing frieght charges and carbon emission.
The report on PET bottles market also includes profiling of various other prominent players such as ALPLA Werke Alwin Lehner GmbH & Co KG, RETAL Industries Ltd., Resilux NV, Plastipak Holdings, Inc., Koksan Pet Plastik, and Esterform Packaging Limited.
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According to TMR's statistics, the global PET bottles market is likely to progress at 4.1% CAGR between 2018 and 2027. The market valuation will rise at this rate over the forecast period. In 2018, the market earned US$21.6 bn.
In terms of capacity, the demand for 500 ml to 1000 ml capacity PET bottles is high as compared to other type of PET bottles. This segment held nearly 53% share in the global PET bottles market in 2018 and is likely to hold major share in the coming years. This growth is attributed to the reducing weight of PET bottles and is also cost-effective. On the regional front, Asia Pacific is likely to hold a large share in the global PET bottles market. Increasing demand for PET bottles from various industries including food and beverages, personal care, and others has led the dominance of Asia Pacific in this market. India, China, and Japan are the key regions driving demand in this market.
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High Demand for Lightweight Bottles Spurred Growth in PET Bottles Market
Growing application of PET bottles in different industries is the key reason behind the growth of the global PET bottles market. Its application is seen in personal care and cosmetics, food and beverages, pharmaceuticals, and others. Moreover, technological developments taking place in manufacturing PET bottles and introduction of new products by manufacturers has further expanded growth in this market. Recently, PTI Packaging Systems introduced Dromo PET bottle system. This system is designed for liquid and semi-viscous products such as personal care and household chemicals.
Adding further, growing demand PET bottles in packaging soft drinks, juices, bottled water, medicines, salad dressing oil, and others has spurred demand in the global PET bottled market. Properties of PET bottles including flexibility, unbreakable, and lightweight has stoked up its demand in the global PET bottles market.
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Environment Concerns Challenging Growth Expansion of PET Bottles Market
Strict regulations imposed on the use of PET bottles for alcohol is acting as a major restraining factor. While taking the example of Russia, where sales of alcohol in PET bottles was banned in 2017 under the specific legislative acts of Russian Federation. Besides, growing environment concerns due to the growing pollution is also expected to hamper growth in the global PET bottles market.
Contradicting to these factors, large scale recycling of PET bottles might help in overcoming these restraints. Government organizations and private companies are making deliberate efforts in recycling PET bottles that will have a positive impact on the PET bottles market.
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The study presented here is based on a report by Transparency Market Research (TMR) titled, "PET Bottles Market (Capacity - Up to 500 ml, 500 ml to 1000 ml, 1000 ml to 2000 ml, More than 2000 ml; Neck Type - ROPP/BPV, PCO/BPF, Alaska/Bericap/Obrist, Others; End Use - Beverages, Food, Personal Care, Home Care, Pharmaceuticals, Other End Uses) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018-2027".
Global PET bottles market is segmented based on:
- Up to 500 ml
- 500 ml to 1000 ml
- 1000 ml to 2000 ml
- More than 2000 ml
- Home Care
- Personal Care
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
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