Recycled PET (r-PET) Bottles Market Revenue Growth Analysis by 2031

Recycled PET (r-PET) Bottles Market Outlook 2031
• The global recycled PET (r-PET) bottles market was valued at US$ 1.9 Bn in 2021
• It is estimated to grow at a CAGR of 9.6% from 2022 to 2031
• The global recycled PET (r-PET) bottles market is expected to reach US$ 4.3 Bn by the end of 2031
Analysts' Viewpoint on Global Recycled PET (r-PET) Bottles Market Scenario

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Companies operating in the recycled PET (r-PET) bottles market are focusing on key industries, such as food & beverage and packaging, in order to keep their businesses growing. Increase in health issues and awareness about the importance of safe drinking water is anticipated to boost production capacities to cater to the rising demand for r-PET bottles. Various companies are likely to include r-PET resins in their PET bottles. Accordingly, most of the bottles would be made of 25% r-PET and 75% PET, or of complete r-PET in the near future. Manufacturers are collaborating with well-established transportation and logistics companies to deliver products in stipulated time in order to remain competitive in the market. Moreover, manufacturers are also investing in the development of quality products to consolidate their position in the global market.

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Benefits of Food Grade Recycled PET (r-PET) Bottles to Drive Global Market
In terms of grade, the global recycled PET (r-PET) bottles market has been classified into food grade and non-food grade recycled PET (r-PET) bottles. The food grade segment held a large share of 92.2% in 2021. The segment is anticipated to grow at a CAGR of 9.6% by 2031. Food grade r-PET plastic bottles are light in weight. The material is also stable and biologically inert. It does not react with foods or beverages. Furthermore, it offers excellent resistance to microorganisms.
Food grade r-PET bottles are utilized in the manufacture of beverage bottles and food trays. According to a study carried out by joint Swiss-German under the EUROENVIRON-DIMO project, about 50% of waste food-grade PET bottles are used for recycling in food packaging applications. Therefore, food-grade recycled PET (r-PET) bottles is expected to dominate the global market.

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Regional Outlook of Global Recycled PET (r-PET) Bottles Market
In terms of region, Asia Pacific held a notable share of 42.2% of the global recycled PET (r-PET) bottles market in 2021. Its share is anticipated to rise to reach 44.4% of the market by 2031. The high share can be ascribed to the presence of a large number of regulations across the region.
North America also accounted for a key share of the global market in 2021. The market in the region is dominated by a large number of manufacturers and producers of technologies.
Manufacturers operating in the r-PET market in Europe need to conform to several regulations. The market share held by Latin America is anticipated to decline by the end of the forecast period, owing to the presence of fewer manufacturers in the region.

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Analysis of Key Players in Global Recycled PET (r-PET) Bottles Market
The global recycled PET (r-PET) bottles market is highly consolidated, with a small number of large-scale vendors controlling majority of the share. Most companies are investing considerably in comprehensive research and development activities, primarily to create environment-friendly products. Diversification of product portfolios and mergers & acquisitions are key strategies adopted by prominent players, which include Indorama Ventures Public Company Ltd., Alpha Werke Alwin Lehner GmbH & Co KG, Pheonix Technologies International LLC, CarbonLITE Industries LLC, and Vanden Global Ltd.

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