In terms of revenue, the PET containers market is estimated to expand at a CAGR of 5.1% during the forecast period, owing to numerous factors, about which FactMR offers thorough insights in this report. According to PET Container Recycling Europe, PET containers recycling rate in Europe was nearly 56.3% in 2016 with an increase of 7.3% as compared to 2014. All the EU 28+ countries in 2016 exceeded the European Union minimum targets of 22.5% recycling.
The PET containers market report highlights the following players:
- Zhongfu Enterprise Co Ltd.
- Indorama Ventures Public Co., Ltd.
- Berry Global Group, Inc.
The PET containers market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.
Consumption of single-serve beverages has increased considerably which positively influences the PET containers market. PET containers in different forms like bottles are used for packaging of beverages like carbonated drinks as they are eyed to be economical. The other liquids that are packed in PET bottles include bottled water and edible oil. The last decade has witnessed as surge in PET container’s demand owing to the increasing culture of ready-to-drink beverages like tea, juices and coffee in developing and developed economies. It is estimated that the volume of PET bottles used for packaging such beverages is more than 500. Beverages segment dominates the global market with maximum PET containers on the backdrop of extensive sale of bottled water and packaged soft drinks. Ready-to-drink single serve coffee is the latest entrant in market has already captured 30% of the grocery store’s sale in US. This single serve coffee is assessed to have grown with 75% growth rate between the time periods 2007-2012.
APEJ Leads Market
Latest Fact.MR report states that the value of global PET containers market was US$ 56.2 billion by the end pf the year 2017. The market is predicted to expand 1.3 times of the current capacity in the coming years. APEJ is the most prominent region in global PET containers market. Countries like India and China are anticipated to have very significant development in the PET containers market during the forecast period. This growth will be on the backdrop of increased market penetration of retail outlets in the urban areas.
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The growth in culture of hypermarkets and super markets have surged the consumption of packaged beverages like soft drinks. Major stake holders like PepsiCo and Coca-Cola are hugely investing to enhance their production and manufacturing capacity. They are revamping and improving their supply chains to suffice the growing demand for PET containers.
Sustainability Drives Market Growth
Demographic is shifting towards PET containers that can be sustainable. Fact.MR report predicts that sustainability will be a key driver of the PET container market during the forecast period. The coming decade is expected to be very promising for the use of these PET containers. The major factors behind the PET container’s popularity is its affordability and recyclable nature. The population in the developing nations is shifting towards drinks that are healthy and naturally made. Water containing PET container’s sale volume has witnessed more than 10% growth in the recent years in US and other regions like Germany and Italy.
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National Association for PET Container Resources states that PET container’s recycling rate in the year 2014 was estimated to be 31.4%. 56.3% was the recycling rate in Europe in the year 2016. 22.5% recycling of the PET containers was a target set up by the European Union which was comfortably achieved by the EU nations in 2016.Usage of PET containers is restricted in different regions due to stringent regulations. The growing awareness regarding side-effects of plastics inhibits the growth of PET containers market.