PET bottles have changed the way soft drinks are packaged and marketed over the past twenty years. PET is considered to be one of the most versatile and cost-efficient plastic products. It can be used in a wide range of applications, including high-volume shipping applications, flexible packaging applications, food packaging applications, dental applications, automotive applications, and industrial applications. The large volume production of PET as a packaging material has enabled manufacturers to use a uniform manufacturing process to produce a consistent product with excellent quality. PET has the ability to maintain its dimensional stability at room temperature, which results in its application in a wide range of applications.
Increasing demand from the food & beverage industry is expected to drive growth of the global PET bottles market during the forecast period. The food and beverage industry has expanded significantly over the years with rising urbanization and higher inclination towards convenience food. According to the Ministry of Food Processing Industries, India, the food and beverage industry in India is expected to reach US$ 1.42 trillion by 2025, increasing from US$ 369 billion in 2017. According to the Food & Drink Federation (FDF), in 2018, total sales of manufactured food and drink reached over US$ 90 billion in the U.K. The food and beverage industry is the largest end-use industry of PET packaging bottles. These bottles are used to package various products including ketchup, cola, sodas, sauce, syrups, juice, fruit concentrates, etc. Thus, these factors are expected to drive growth of the PET bottles market during the forecast period. Moreover, continuous technological advancements in PET packaging are expected to boost the global PET bottles market growth over the forecast period.
However, fluctuations in raw material prices and environmental concerns regarding the use of plastics are expected to hinder the global PED bottles market growth over the forecast period. Advent of eco-friendly and recycled PET bottles can present lucrative growth opportunities in the global PET bottles market in the near future. Among regions, Asia Pacific is expected to witness significant growth in the global PET bottles market during the forecast period. This is owing to increasing demand from Japan, China, and India. Furthermore, North America is expected to register a robust growth rate over the forecast period, owing to high growth of pharmaceutical sector where PET bottles are used for the packaging of medicines.
Key companies involved in the global PET bottles market are Alpha Packaging, Cospack America Corporation, CKS Packaging Inc., Gerresheimer AG, Bericap GmbH & Co. KG, Alpack Plastic Packaging, Plastipak Holdings Inc., Berry Global Inc., Graham Packaging Company, Amcor Ltd., and Comar LLC.
For instance, in December 2019, Gerresheimer AG inaugurated a new plant for the production of pharmaceutical primary plastic packaging in Changzhou, China
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