Global PET Bottle Market to Reach US$ 60.3 Billion by 2032, Spurred by Increasing Demand for On-the-Go Beverages

According to the latest report by IMARC Group, titled "PET Bottle Market Report by Capacity (High, Medium, Low), Distribution Channel (Business to Business, Retail), Color (Transparent, Coloured), Technology (Stretch Blow Molding, Injection Molding, Extrusion Blow Molding, Thermoforming, and Others), End-Use (Packaged Water, Carbonated Soft Drinks, Food Bottles & Jars, Non-Food Bottles & Jars, Fruit Juice, Beer, and Others), and Region 2024-2032," the global PET bottle market reached a value of US$ 44.1 Billion in 2023. Polyethylene terephthalate (PET) bottles refer to bottles made from thermoplastic polymer resin. They are affordable, light in weight and environment-friendly in nature, unlike their counterparts, such as glass bottles, aluminum cans and PVC bottles. They are also characterized by enhanced strength, durability and non-reactivity. These bottles also remain thermally stable under varying temperatures and can be recycled multiple times, thereby reducing their overall manufacturing costs. As a result, they are widely utilized as the preferred packaging solution for numerous beverages, drinking water and a vast array of fast-moving consumer goods (FMGC) products, including juices, shampoos, carbonated drinks, liquid detergents, mouthwash and cooking oils.

Global PET Bottle Market Trends:

The market is primarily driven by the escalating sales of on-the-go bottled beverages across the globe. This can be attributed to the hectic lifestyles led by the working professionals and the inflating per capita income levels of the masses. Rapid urbanization and changing consumption patterns of individuals have also provided an impetus to the rising trend of café culture across the globe, which is facilitating the uptake of PET bottles for their convenient packaging. Apart from this, continual improvements in the manufacturing processes of PET bottles have led to the launch of product variants that are associated with extending the shelf life of the packaged product. Coupled with the increasing preference for bottles made with thin films and improved gas barrier properties, this is creating a positive outlook for the market. The market is further driven by an enhanced focus on sustainable development, which has impelled the utilization of innovative interior coating processes that are expected to facilitate bottle-to-bottle recycling. This enables the users to reduce wastes while minimizing energy consumption and conserving resources at the same time. Looking forward, IMARC Group expects the market to reach US$ 60.3 Billion by 2032, exhibiting a CAGR of 3.3% during 2024-2032.

 Market Summary:

• On the basis of the capacity, the market has been divided into high, medium and low.
• Based on the distribution channel, the market has been classified into business to business and retail (supermarkets and hypermarkets, convenience stores, online and others).
• On the basis of the color, the market has been bifurcated into transparent and colored.
• Based on the technology, the market has been segmented into stretch blow molding, injection molding, extrusion blow molding, thermoforming, and others.
• On the basis of the end use, the market has been categorized into packaged water, carbonated soft drinks, food bottles and jars, non-food bottles and jars, fruit juice, beer and others.
• On the geographical front, the market has been segregated into Asia Pacific, North America, Latin America, Europe, and Middle East and Africa.
• The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Amcor Limited, Cospack America Corporation, BERICAP GmbH & Co. KG, Rexam, Inc., Berry Global, Inc, Graham Packaging Company Inc., Container Corporation of Canada, Ontario Plastic Container Producers Ltd., Constar Internationals, Inc., Alpha Packaging, Alpack Plastics, Plastipak Holdings, Inc., and Resilux NV.

Report Scope:

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