PET Bottle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

PET Bottle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global PET bottle market size reached US$ 41.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 54.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.29% during 2023-2028.

Polyethylene terephthalate (PET) refers to a thermoplastic polymer resin of the polyester family which is widely used for manufacturing plastic bottles. In comparison with PP, HDPE and PVC bottles, PET bottles are more durable, transparent, lightweight, non-reactive, cost-effective and thermally stable. Moreover, they are environment-friendly and can be recycled repeatedly which further reduces their manufacturing cost. Primarily used in the packaging of drinking water and beverages, PET bottles are also gaining prominence as a packaging solution for salad dressings, household cleaners, medicines, dish detergents and mouthwashes.

Global PET Bottle Market Drivers:
The rising trend of westernization, inflating disposable incomes and altering food patterns of consumers have increased the demand for bottled beverages, particularly in developing countries like India and China. Additionally, hectic lifestyles have enabled consumers to opt for on-the-go beverages.
Due to their flexibility, PET bottles can be molded into numerous shapes to improve their appearance and utility. For brand differentiation, manufacturers are focusing on unique packaging and different-sized packs which are spurring the demand for PET bottles with customized shapes, colors and designs.
Advancements in technology have created a positive outlook for the PET bottle market. For instance, manufacturers have introduced a plasma-based coating which makes PET bottles more impervious in nature. Apart from this, they have also started utilizing silver to increase the product shelf life.
Recent changes in packaging regulations of various countries have also influenced the PET bottles industry. For example, in line with the new German Packaging Act, manufacturers are inventing new interior coating processes like FreshSafe PET that makes bottle-to-bottle recycling possible. Moreover, the concept of InnoPET FormFill, which molds and fills plastic containers in one step, has received positive response as it reduces total energy consumption, occupies less space and increases savings in comparison with BloFill systems.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global PET bottle market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on capacity, color, technology, end-use and distribution channel.

Breakup by Capacity:

High
Medium
Low

The market has been divided on the basis of the capacity into high, medium and low capacity PET bottles.

Breakup by Distribution Channel:

Business to Business
Retail
Supermarkets and hypermarkets
Convenience Stores
Online
Others

On the basis of the distribution channel, the market has been bifurcated into business-to-business (B2B) and retail. The retail segment is further segregated into supermarkets and hypermarkets, convenience stores, online, and others.

Breakup by Color:

Transparent
Coloured

Based on the color, the market has been segmented into transparent and coloured PET bottles.

Breakup by Technology:

Stretch Blow Molding
Injection Molding
Extrusion Blow Molding
Thermoforming
Others

The market has been analyzed on the basis of technology into stretch blow molding, injection molding, extrusion blow molding, thermoforming and others.

Breakup by End-Use:

Packaged Water
Carbonated Soft Drinks
Food Bottles & Jars
Non-Food Bottles & Jars
Fruit Juice
Beer
Others

Based on the end use, the packaging of water segment exhibits a clear dominance in the market as these bottles are considered safer for storing water. Moreover, due to growing environmental concerns, various beverage companies are enhancing their packaging solutions by adopting the latest PET bottle manufacturing techniques. Other end use segments include carbonated soft drinks (CSDs), food bottles and jars, non-food bottles and jars, fruit juice and beer.

Regional Insights:

North America
Asia Pacific
Europe
Latin America
Middle East and Africa

On the geographical front, Asia Pacific represents the largest market for PET bottles around the world. This can be accredited to the inflating income levels in the region, and a consequent rise in the demand for packaged foods and beverages. Other major markets include North America, Latin America, Europe, and Middle East and Africa.

Competitive Landscape:

The competitive landscape of the PET bottle industry has been examined along with detailed profiles of the major players operating in the market. Some of the leading players are:

Amcor Limited
Cospack America Corporation
BERICAP GmbH & Co. KG
Rexam, Inc.
Berry Global, Inc
Graham Packaging Company Inc.
Container Corporation of Canada
Ontario Plastic Container Producers Ltd.
Constar Internationals, Inc.
Alpha Packaging
Alpack Plastics
Plastipak Holdings, Inc.
Resilux NV

Key Questions Answered in This Report

1. What was the size of the global PET bottle market in 2022?
2. What is the expected growth rate of the global PET bottle market during 2023-2028?
3. What are the key factors driving the global PET bottle market?
4. What has been the impact of COVID-19 on the global PET bottle market?
5. What is the breakup of global PET bottle market based on the capacity?
6. What is the breakup of the global PET bottle market based on the distribution channel?
7. What is the breakup of global PET bottle market based on the color?
8. What is the breakup of global PET bottle market based on the technology?
9. What is the breakup of global PET bottle market based on the end-use?
10. What are the key regions in the global PET bottle market?
11. Who are the key players/companies in the global PET bottle market?