PET Containers Market To Witness Rapid Growth In Demand During 2022 - 2031 : Fact.MR

Fact.MR delivers key insights on the PET containers market in its published report, titled "PET Containers Market: Industry Analysis and Opportunity Assessment, 2018-2028". In terms of revenue, the PET containers market is estimated to expand at a CAGR of 5.1% during the forecast period, owing to numerous factors, about which Fact.MR offers thorough insights in this report.

Over 500 billion PET bottles are used globally for packaging of different goods in the food & beverages, chemical, household, personal care and other industries. PET containers are cost-effective packaging solutions that are used for packaging of mineral water, carbonated beverages, ready-to-drink and other food applications.

On the basis of container type, market for PET containers is segmented into bottles, jars, pails, clamshells, trays and others (cans, cups, vials, etc.). On the basis of technology, the PET containers market is segmented into stretch blow molding, extrusion blow molding and thermoforming. Based on the end-use industry, the PET containers market is segmented into food, beverages, home care & personal care, healthcare & pharmaceuticals, chemical and others.

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Key Segments Covered

By Container Type
Bottles
Jars
Pails
Clamshells
Trays
Others

By Technology
Stretch Blow Molding
Extrusion Blow Molding
Thermoforming

By End Use Industry
Food
Beverages
Bottled Water
Carbonated Drinks
Ready-to-Drink
Sports Drinks
Alcoholic Drinks
Home care and Personal care
Healthcare & Pharmaceuticals
Chemical
Others

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High Consumption of Bottled Water Driving the Growth for PET Containers Market

According to Earth Day Organization, people in the U.S. purchased nearly 1 million PET containers of all types per minute in 2016. The customers in the developed countries have become more health conscious and are switching from sugary soft drinks to the healthier and more natural drinks.

The sales of PET containers in bottled water application has grown at more than 10% rate for the past few years in the developed countries. The declining profit margins of carbonated drinks sales has been compelling the beverage companies to invest more on bottled water, which is consequently driving the sales of PET containers.

Lighter PET Containers in Packaging is Trending

The effort to provide lighter packaging has been one of the initial developments in plastic bottles, enabling it to surpass the volume of glass as the packaging option for brands/consumers. Nowadays, packaging manufacturers are trying to save even more by using lightweight PET containers. The advantage of lighter PET containers packaging are numerous, such as lower raw material cost and savings on shipping which can reduce the energy costs and volumes in landfill trashes. According to the International Bottled Water Association (IBWA), the average weight of a 500 ml PET containers has dropped by 48% in the recent past.

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This release was published on openPR.