PET Beverage Packaging Market Sees Uptick: 2023 Analysis Highlights Growth to $43.29 Billion by 2028
Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "PET Beverage Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to * ResearchAndMarkets.com's* offering.
The PET Beverage Packaging Market, characterized by surging demand for sustainable and lightweight packaging solutions, has experienced profound growth, with its valuation forecasted to escalate from USD 33.11 billion to USD 43.29 billion at a 4.67% CAGR through 2028. This market expansion is fueled by the increased consumption of bottled and soft drinks aligned with the rising global eco-consciousness.
*Key Insights and Emerging Trends in PET Packaging*
· Non-reactive PET material, known for its shatterproof nature and remarkable strength-to-weight ratio, provides economic benefits during product transportation while ensuring safe beverage contact, approved by the FDA and international regulatory bodies.
· Market dynamics point towards sustainability and recyclability of PET packaging, with increasing consumer awareness enhancing demand for refillable and bio-based bottles.
· Industry challenges include navigating the evolving environmental regulations as governments tighten protocols to mitigate plastic waste.
*Robust Demand for PET Bottles Amplifies Market Growth*
PET bottles are dominating the market share due to their appeal in the bottled water sector and the carbonated drinks industry. Advances in bottle manufacturing technology have improved their eco-friendliness, contributing to their preference among consumers.
· Sector innovations, such as Suntory Group's partnership for 100% plant-based PET bottles, reflect the market's commitment to sustainability and adapting to consumer preferences.
· Statistics reveal a consistent rise in bottled water sales in the U.S., underlining the role of PET packaging in supporting the beverage segment.
*Asia Pacific's Burgeoning Beverage Market Fosters Significant Sector Expansion*
China's flourishing middle class and subsequent beverage market growth suggest a potent market for PET packaging. The nation's investment in the sector, such as Coca-Cola's expansion in China, signals confidence in the long-term vitality of PET.
· Japan and India echo similar trends, with Japan focusing on advanced PET bottle applications for ready-to-drink (RTD) offerings and India's demand driven by packaging innovation and new beverage conservation technologies.
· Organic beverage consumption and urbanization further stimulate the PET packaging sphere within the Asia-Pacific region.
*Competitive Landscape* The PET Beverage Packaging sector demonstrates fragmentation, with pivotal players leveraging strategic collaborations and tech advancements to widen their market presence. Noteworthy actions include Amcor's partnership with a winery to introduce wines in 100% rPET bottles and ALPLA's investment in a groundbreaking African recycling plant. Companies within this arena are positioning themselves at the vanguard of packaging innovation, not only to satisfy market demand but also to ensure adherence to environmental protocols and consumer health standards. The PET Beverage Packaging Market analysis indicates a trajectory of robust growth, emphasizing the significance of sustainable practices within the industry.
*A selection of companies mentioned in this report includes*
· Amcor PLC
· Resilux NV
· Nampak Ltd
· Berry Global Inc.
· Silgan Holdings Inc.
· Graham Packaging
· GTX Hanex Plastic Sp. Z.O.O
· Altium Packaging
· Comar LLC
· Apex Plastics
· Khs GmbH (Salzgitter Klckner-Werke GmbH)
· Esterform Packaging
· ALPLA Group
· Plastipak Holdings Inc.
· Retal Industries Limited
For more information about this report visit https://www.researchandmarkets.com/r/l1eb0u
*About ResearchAndMarkets.com*
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*Attachment*
· Pet Beverage Packaging Market Retail Sales Of Flavored Bottled Water In U S D Billion United States 2015 2022
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