Abstract of Outsourcing In PET Bottles Market 2019 by Top Companies Analysis- Amcor Limited, Berry Plastics Group Inc., GTX Hanex Plastic Sp. Z O.O., Gerresheimer AG, Graham Packaging Company, Among Others.
Factors such as rising applications of PET bottles by the beverage industry in packaged water, juices, flavored water, functional water, carbonated drinks, and others are boosting growth of the global PET bottles market.
Significant initiatives by food & beverages and packaging manufacturers to develop bio-based PET is a major factor driving growth of the PET bottles market. For instance, in April 2017, Danone and Nestlé Waters, collaborated with Origin Materials to form NaturALL Bottle Alliancea. This collaboration aims to develop and launch PET bottle from sustainable and renewable bio-based material.
The global PET bottles market was pegged at 505.0 billion units in 2017, and is anticipated to register a CAGR of 3.87% in terms of volume, during the forecast period (2018 – 2025) to reach 697.72 billion units by 2025.
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Among application segment, beverage segment held the highest market share in 2017, in the global PET bottles market. PET is a popular choice of packaging for beverages such as soft drinks and bottled water, owing to its advantages including ease of molding into desired shapes.
Asia Pacific region was the largest PET bottles market globally, due to significant demand from China, India, and Japan. The region held a market share of 35% in 2017 in the global PET bottles market. Growing demand for PET bottles from various growing industries such as food and beverages, personal care industry is driving growth of the market in this region.
PET bottle manufacturers are adopting different growth strategies such as development of new products to cater to the growing demand of PET bottles and expand its businesses. For instance, in January 2018, Amcor Limited launched lightweight PET bottle that are portable and shatterproof specifically for carrying wines. These bottles consists of barrier coating technology that protects the wine from oxidizing in the PET bottles.
Major players operating in the global PET bottles market includes Amcor Limited, Berry Plastics Group Inc., GTX Hanex Plastic Sp. Z O.O., Gerresheimer AG, Graham Packaging Company, RPC Group, Rexam PLC, Silgan Holdings, WestRock, Crown Holdings, Exo Packaging, and Alpha Group among others.
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