PET Bottles Market Growth 2021 and Future Prospects Analyzed 2028

Polyethylene terephthalate (PET) plastic is widely used for manufacturing packaging materials such as bottles. Players operating in food and beverages industry are launching new products using different types of PET bottles thereby, fuelling growth of the global PET bottles market. For instance, in April 2017, New Bertolli brand introduced its olive oil in PET bottles. Growing demand for lightweight, convenient, and low cost packaging is also propelling growth of this market.
Rise in demand for polyethylene terephthalate (PET) plastic bottles for packaging of bottled water, juices, soft drinks, medicines, salad dressing, oil, household cleaners, and personal care products is a major factor driving growth of the global PET bottles market. This is attributed to the advantages of PET materials including high transparency, shiny surface, good stability, high-pressure resistance, good barrier properties, and lightweight.

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Key companies covered as a part of this study 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

Detailed Segmentation:
• Global PET Bottles Market, By Product Type:
o Beverages
 Carbonated Soft Drinks
 Packaged Water
 Fruit Juice
 Others
o Personal Care Products
o Household Care Products
o Others (Medicines, Salads, Dressings, and others)

According to the United Nations Environment Programme (UNEP) in 2017, about 8 million tons of plastic waste including PET bottles enters the ocean every year, thereby damaging the marine ecosystems and fishing industry. Moreover, according to the United Nations Environment Programme (UNEP) in 2014, plastic pollution causes damage of about US$ 13 billion per year to the marine ecosystem. Increasing environment damages caused by plastic materials such as PET bottles is a major factor restraining growth of the global PET bottles market.

Asia Pacific held the highest market share of 35% in 2017 in the global PET bottles market. Increasing consumption of soft drinks, juices, and bottled water is boosting growth of the PET bottles market in the region. According to Japan Soft Drink Association, Japan is one of the major market of non-alcoholic beverages, and held a sales revenue of US$ 31.3 billion in 2013.

North America held significant market share in 2017 in the global PET bottles market. The U.S. held the highest market share in 2017 in the North America PET bottles market. According to data published by Association of Plastic Recyclers and American Chemistry Council, sale of virgin PET for bottle manufacturing increased by 3.2% between 2015 and 2016 in the U.S., owing to increasing demand for PET bottles from beverages and personal care industries.

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This release was published on openPR.