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I AgreeAnalysis of PET Containers Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global PET containers market is estimated at USD 73.1 Billion in 2022 and is forecast to reach USD 122.4 Billion by 2032, growing at a CAGR of 5.3% during 2022 to 2032.
Fact.MR- a market research and competitive intelligence provider, foresee a thriving growth in PET containers demand. The global PET containers market is expected to grow at 5.3% CAGR during 2022-2032 and reach the valuation of USD 122.4 Billion by the end of 2032.
PET container is one of the rigid cost-effective packaging solutions to pack the ready-to-drink beverages, carbonated drinks, mineral water and other food applications among its counterparts. Significant growth in the demand for single-serve beverages is driving the growth for PET containers. The beverage as end use industry is expected to grow 1.5X over the period of 2022-2032.
According to the National Association for PET Container Resources (NAPCOR), U.S. recycling rate for PET bottles was 26.6% in 2020, which is expected to increase significantly in recent few years. The demand for the PET containers has grown significantly in the last 5-10 years due to the high growth in the consumption of convenient food & beverages products like juices and coffee around the globe. More than 500 billion PET bottles are used globally for the packaging of different goods in household, chemical, food & beverages, personal care and other industries.
Among them, beverages segment dominates the market with the highest number of PET containers used for bottled water and soft drinks packaging applications. PET containers that are used for single serve ready-to-drink coffee, which didn’t exist a few years ago, comprises of more than 30% of the total coffee sold at grocery stores in the U.S.
Report Attributes |
Details |
Market size value in 2021A |
USD 68.7 Billion |
Market value estimated in 2022E |
USD 73.1 Billion |
Market value forecast in 2032F |
USD 122.4 Billion |
Global Growth Rate (2022-2032) |
CAGR 5.3% |
Europe Market Share in 2022 |
~32% |
Europe Growth Rate (2022-2032) |
CAGR 5.8% |
Top 5 Companies Market Share in 2021 |
~40% |
Key Companies Profiled |
|
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Significant growth in the demand for single-serve beverages is driving the growth for PET containers. PET containers such as bottles are an economical packaging solution for the edible oil, bottled water, carbonated soft drinks and other household & personal care products.
The demand for the PET containers has grown ominously in the last 5-10 years due to the high growth in the consumption of convenient food & beverages products, such as carbonated soft drinks, ready-to-drink tea, coffee, and juices in the developed as well as developing countries.
More than 500 billion PET bottles are used globally for the packaging of different goods in the food & beverages, chemical, household, personal care and other industries. Among them, beverages segment dominates the market with the highest number of PET containers used for soft drinks and bottled water packaging applications.
PET containers that are used for single serve ready-to-drink coffee, which didn’t exist a few years ago, comprises of more than 30% of the total coffee sold at grocery stores in the U.S. It was stated that the single-serve coffee market in the U.S. witnessed a compound annual growth rate of about 75% between 2007 and 2012, which is expected to be a primary driver of the PET containers market for beverages sector in the country.
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U.S have witnessed the rapid penetration of modern retail outlets, especially in the urban areas, which have indirectly affected the market for PET containers. Easy admittance towards hypermarkets and supermarkets has enabled an increase in the consumption of beverages, such as soft drinks, in PET containers.
This has enabled beverage manufacturers such as PepsiCo and the Coca-Cola Company to invest heavily in the areas of production, enhancing their manufacturing capacity and ramping up their supply chain, all of which has headed to an increasing demand for PET containers solutions for beverages. The high demand for sustainable packaging solutions is expected to be the key driver for the growth of U.S based PET containers market. The U.S is expected to register a CAGR of 4.9% over the period of 2022-2032.
India emerged as a leading region in South Asia & Oceania region and is expected to continue so in the assessment period owed due to stable enhancement in the status of living standard and disposable income of consumers.
The rising implementation of westernization and increasing modernization among end users has led to improved expenditure over beverage products, which will increase the sales of PET containers. India is expected to grow at CAGR of 4.8% by the end of 2032.
PET (Polyethylene Terephthalate) containers are widely used in food packaging due to its strong barrier properties against dilute acids, oils, water vapor, alcohols and gases. PET is also flexible and moderately shatter-resistant and easy to recycle. As per Earth Day organizers report, more than 1 million plastic bottles are bought every minute in the U.S. However, an average consumer in U.S consumes at least 167 water bottles per year, owing to rising demand for packaged drinking water.
The focus on polyethylene terephthalate and its growth in revenue has been reflected by numerous trends developments in how products and brands use PET. With its simplicity and natural water properties, PET has extensive applications and is certainly driven into a bottle or made into a sheet. The bottle segment is expected to be valued at USD 45 Bn in 2022 and is likely to grow at a CAGR of 4.9% over the forecast period.
The beverage as end use industry is benefitting from a wave of vital revolution and continuously growing with the collective associations with cultural and social roles in the market. The beverages industry is likely to hold around 34% of market share in 2022 with a mounting trend from past several years.
The beverage industry offers a complete solution to the investors within the sector, owed due to increasing popularity of cold drinks and growing cultivation among human societies. The relaxed tariff barriers and trade duties in the global market have stimulated the key players to strengthen the production capabilities around the globe. This leads to reach the valuation from beverage industry to USD 38 Bn by the end of 2032.
Fact.MR has profiled the following key PET containers manufacturers in its report are RETAL Industries Ltd., Plastipak Holdings, Inc., ALPLA, Resilux NV, Taiwan Hon Chuan Enterprises Co., Ltd, Ester form Packaging Limited, Berry Global Group Inc., Indorama Ventures Public Co., Ltd, Zhonghu Enterprise Co Ltd., Eskapet Pet Ürünleri Kimya San Ve Tic. Ltd., Amcor Limited, CCL Industries Inc, Huhtamaki Group, Rexam PLC, Gerresheimer AG
Key manufacturers are constantly innovating product designs to meet the modern day challenges pertaining to components placement in the engine environment.
Some of the recent developments are:
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The market is likely to reach a valuation of USD 122.4 Billion by the end of forecast period.
The bottles as container type is expected to grow 1.6X over the forecast period.
Europe region holds the market share of around 32% in 2022 and presumed to remain in same growth curve by the end of 2032.
Beverages segment as end use industry type have the highest market share of 34% in 2022.
Healthcare & pharmaceuticals segment is likely to offer great growth prospect with a market valuation of USD 13 Bn in 2022.
Clamshells is likely to hold the market share of 6% in 2032.
The South Asia & Oceania region is expected to reach a market valuation of USD 18 Bn by the end of 2022.