PET Containers Market will grow at highest pace owing to increasing demand for sustainable packaging
PET containers are plastic containers made from polyethylene terephthalate (PET) resin. They are transparent, lightweight and durable in nature which makes them ideal for packaging food and beverages. PET containers provide excellent gas and moisture barrier which helps in preserving the quality of contents for a long time. They are widely used for bottling water, soft drinks, juices, sauces, edible oils and alcoholic beverages. PET containers can be recycled and reused which makes them sustainable and eco-friendly in nature. Growing emphasis on sustainable packaging from brand owners is expected to drive higher demand for PET containers in the coming years.
The Global PET Containers Market is estimated to be valued at USD 86.83 billion in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2025-2032.
Key Takeawways
Key players operating in the PET Containers market are Amcor plc, Berry Global Inc., Sonoco Products Company, Alpha Packaging, RESILUX NV. These key players account for over 30% share of the global PET containers market.
PET Containers Market Growth is consumption of bottled beverages especially water and juices across regions is fueling the demand for PET containers. Rapid urbanization and changing lifestyle along with growing health consciousness is driving higher consumption of ready-to-drink beverages packaged in PET containers.
Technological advancements such as thin-walled PET containers with optimized barrier properties are enabling higher product to package ratios. Development of lightweight PET containers with reduced raw material consumption is also making them more sustainable and cost-effective.
Market Trends
Incorporation of recycled PET content - Many PET container manufacturers are incorporating increased recycled PET (rPET) content in containers to reduce virgin plastic consumption and manufacture truly sustainable packaging solutions.
Adoption of novel package designs - Novel package designs such as bottles with integrated handles and different neck finishes are gaining popularity. New shape jars and bottles with expanded functionality are being offered to brands.
Market Opportunities
Growth in developing regions - Developing economies in Asia Pacific and Latin America exhibit high growth potential for PET containers market supported by rising disposable incomes, rapid urbanization and expanding retail infrastructure.
Innovation in barrier properties - Development of PET containers with enhanced barrier properties against gas, moisture, UV rays etc. can further expand their application scope in premium food and beverage packaging.
Impact of COVID-19 on PET Containers market growth:
The outbreak of COVID-19 had a significant impact on the PET containers market. During the initial lockdown phases in early 2020, restrictions on non-essential goods led to a decline in demand from end-use industries like food and beverages. Supply chains were disrupted due to workforce shortages and logistical challenges. Raw material prices fluctuated wildly due to uncertainty. However, as the pandemic progressed, there was a rise in consumption of packaged foods and beverages intended for in-home consumption. This provided support to the PET containers industry. Further, healthcare and pharmaceutical sectors witnessed increased usage of PET packaging for Covid test kits, PPE kits, medicines, vaccines etc. The takeaway food segment also boosted PET container usage.
Going forward, demand from industries catering to in-home consumption is expected to remain steady. However, discretionary end-uses may take longer to recover fully. Supply chains will also take time to stabilize due to lingering effects of the pandemic. Cost pressures are likely to persist due to logistic issues and volatile raw material prices. Industry players need to focus on localized sourcing, inventory management, flexible production and new product development to tap evolving consumer preferences amid the pandemic. Diversification into medical and pharmaceutical segments also provides growth opportunities. Digital technologies can help optimize supply chains and resource allocation.
Geographical regions with high concentration of PET containers market value:
The North American region accounts for the largest share of the global PET containers market in terms of value. This is due to high per-capita consumption of packaged foods and beverages in countries like the United States. Convenience trends along with established food processing infrastructure have propelled PET usage. Changing lifestyles and busy schedules have boosted demand for packaged ready-to-consume items. Rising health-consciousness is also driving the bottled water and sports drink segments. Strict rules regarding the use of BPA have further cemented PET's position in the region.
Fastest growing region for PET containers market:
The Asia Pacific region is expected to witness the fastest growth in the PET containers market over the forecast period. This is largely attributed to changing consumption patterns and westernization of diets in highly populated countries like China and India. Rising disposable incomes enable greater affordability of packaged products. Rapid urbanization is fueling the demand for convenience packaging from sectors including food and beverages Personal and home care. Further, increasing presence of multinational food companies in Asia Pacific amplifies PET consumption. Investments in infrastructure also support the growth of PET packaging companies.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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