PET Bottle Market Overview 2017: Growth, Demand and Forecast Research Report to 2022
The global PET bottle market is growing at an exponential rate as these bottles are environmental friendly and cost-effective. Owing to this, PET bottles are now being increasingly used in the food & beverage industry which has further given impetus to the market.
The latest report by IMARC Group titled, “PET Bottle Market – Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global PET bottle market reached a value of around US$ 51 Billion in 2016, growing at a CAGR of 3.9% during 2009-2016. PET bottles are made from a plastic resin, chemically known as polyethylene terephthalate. These bottles are transparent and light weight yet easy to handle, high in strength, shock resistant and do not produce any toxic residues. These properties differentiate PET bottles from the other varieties available in the market. Moreover, as PET bottles can be recycled, they are not only environment friendly but also reduce the cost of manufacturing. They are also impermeable to CO2, oxygen and water which makes them suitable for storing various products. As a result of these factors, manufacturers across the food and beverage industry are shifting from glass and metal containers to PET bottles. Some of the consumer products which are packaged in PET bottles include like soft drinks, mineral water, spring water, liquor, juice, food products, medicines, etc. According to the report, the market is further expected to reach a value of around US$ 71 Billion by 2022, recording CAGR of 7% during 2017-2022.
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Global PET Bottles Market
The report examines some of the growth inducing factors which have influenced the global PET bottle market. The major factor is the design of these bottles that facilitates the manufacturers to fashion them into desired shapes, sizes and colours, and experiment with unique marketing campaigns. Along with this, an increasing demand for bottled beverages is increasingly propelling the growth of PET bottle market. Other factors like growing urbanisation in developing countries, rising disposable incomes and the growth in the FMCG (Fast-moving consumer goods) sector have further provided thrust to the growth of the market.
The report has segmented the PET bottle market on the basis of end-use. Packaged water currently represents the largest end-use market for PET bottles. It followed by carbonated soft drinks, food bottles & jars, non-food bottles & jars, fruit juice and beer. The report finds that during the forecast period, the demand for carbonated soft drinks will be slightly less in both mature and emerging markets due to a shift towards healthier drinks. However, the segment of packaged water is expected to remain strong over the next five years. The report has also conducted an evaluation of the market on a regional basis. Some of the regions covered in the report are Asia-Pacific, North America and Europe. Amongst these, Asia-Pacific represents the largest market for PET bottles. An analysis of the competitive landscape is also given in the report with the key players being Crown Holdings, Ball Corporation, Tetra Laval, Rexam PLC, ALPLA, etc.
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The report provides a comprehensive analysis for setting up a PET bottle manufacturing plant. The study covers all the requisite aspects of the PET bottle industry and provides an in-depth analysis of the market, industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. It also offers SWOT, Value Chain and Porter’s Five Forces analysis and regional segmentation followed by an analysis of the competitive landscape. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the PET bottle market in any manner.
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