Global High-end PET Bottles Market: Snapshot
Polyethylene terephthalate, or PET, is a very commonly used polyester ever since its discovery in 1941. The easiest way to recognize PET in commercial use is to look for the “#1” sign on the plastic, which is the global indicator of the polyester. The two key physical properties of PET that make it so popular are its strength and nontoxic nature. PET products are highly durable, long lasting, light in weight, resistant to several types of mild chemicals, resistant to breakage or shattering, and are also recyclable. In fact, PET is nearly 100 percent recyclable, as a new PET product can be made from an older PET product of the same volume, and this process can be essentially repeated an infinite number of times. However, the current scenario of the recycling industry is a large number of scattered players with weak infrastructure, along with massive issues related to waste segregation. This causes an enormous volume of landfills to contain plastics, PET being one of the polyesters found in high volumes.
The global PET bottles market has witnessed a 7% CAGR in the last five years and this is primarily because of speedy development of FMCG sector. According to our research, the BRICS countries are going to be dominant forces in the overall PET market. India and China have enormous potential to emerge as market leaders among these countries. Since the APAC region is one of the major markets (around 40% of the global PET market), China and India also have a strategic advantage. They get low operating and exporting costs which escalates the overall profitability. Not just that, since domestic demand has also shown an increasing trend, it is quite likely that India will witness a much higher demand for flexible PET packaging. The high-end PET bottle represents light-weight and eco-design PET bottle which is 25-40% lighter than the traditional PET bottle. High-end PET bottles are becoming more extensively used because they are easier to handle, stronger, and can be resealed.
High-end PET Bottles Market- Market Segmentation:
High-end PET bottles are classified into different categories based on packaging type, process, technology type, and end use type. On the basis of packaging type, the high-end PET bottles are segmented into rigid packaging and flexible packaging. On the basis of process, high-end PET bottles are segmented into blow-molded and thermoformed. On the basis of technology, high-end PET bottles are segmented into hot fill, cold fill, aseptic fill, and others. Other technology includes counter-pressure, low vacuum gravity, high vacuum gravity, and positive pressure. On the basis of end use, high-end PET bottles are segmented into food, beverages, pharmaceuticals, cosmetics & personal care products, household products, and others. Other end-use includes industrial products, consumer durables, etc.
High-end PET Bottles Market- Market Dynamics:
Earlier, the beverage industry stayed away from plastic bottles. Beer and wine manufacturers especially did not favor plastic bottles in the past primarily due to safety concerns. However, today, advancement in technology has made it possible to use high-end PET bottles which extend the shelf-life of a product. This has caused a hike in demand for high-end PET bottles. One of the other factors which is driving the high-end PET bottles market is higher acceptance of flexible jam and sauce bottles. Other than that, higher sustainability, low damage and easy shipping have made high-end PET bottles a preferred choice. Moreover, in pharmaceuticals, there are various medicines which need high density bottles. High-end PET bottles play a vital role in that market. On the other hand, there are some restraining factors as well which are affecting the high-end PET bottles market in a negative way. These bottles undergo slow degradation and can prove to be harmful when consumed by animals. They cause blockage and use oil which is already a scarce natural resource. Future opportunities for high-end PET bottles have been observed by using brand identity and brand’s presence.
High-end PET Bottles Market- Regional Outlook:
Geographically, the high-end PET bottles market can be segmented into North America, Latin America, Europe, Asia-Pacific (APAC), and Middle East & Africa (MEA). The growth of global high-end PET bottles market is expected to witness a healthy CAGR over the forecast period of 2016 to 2024. Moreover, Asia-Pacific is expected to witness high growth in the high-end pet bottles market due to rise in consumption of food and beverages. The demand in the High-end PET bottles market is expected to witness an above average growth in North America due to the higher adoption of high-end PET bottles in beer and wine industries.
High-end PET Bottles Market- Major Players:
Some of the key players of the global portable transport bag market are Amcor Limited, Westrock, Wipak, Mondi Group, PET Power, Resilux NV, Rexam PLC, Smurfit Kappa Group PLC, Gerresheimer AG, and Klöckner Pentaplast GmbH & Co. KG. The other notable players in the market are Graham Packaging, GTX Hanex Plastic Sp. z o.o., Berry Plastic Group Inc., Alpha Packaging, Constar International, Dunmore, and Huhtamaki Group.
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