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 high-end PET bottles 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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.