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PET Bottles Market - Growth, Trends, Forecasts (2022 - 2027)

  • ID: 5530013
  • Report
  • January 2022
  • Region: Global
  • 150 Pages
  • Mordor Intelligence

The PET bottle market was valued at USD 84.3 billion in 2019 and is expected to reach a value of USD 114.6 billion by 2025, registering a CAGR of 6.64%, during the forecast period (2020 - 2025). Adoption of PET bottles can result up to 90% weight reduction as compared to glass, primarily allowing a more economical transportation process. Currently, the plastic bottles that are made from PET are widely replacing the heavy and fragile glass bottles in multiple products, as they offer reusable packaging for beverages such as mineral water, among others.



Key Highlights

  • As per the International Bottled Water Association (IBWA), bottled water has been the most consumed beverage product in the United Statesin terms of volume. Also, according to a report by IBWA, in the United States, the average sales of bottled water amounted to USD 18.5 billion, registering an average increase of 8.8%. The per capita consumption also exceeds 42 gallons of bottled water, which was an increase of 6.2%. This rising trend is likely to be continued and is expected to propel the demand for PET bottles in packaging.
  • The food and beverage segment, has been the largest source for the demand of PET packaging products. According to the British Plastic Federation (BPF), over 70% of the soft drinks in the global market are being packaged in PET bottles. In contrast, only 30% of them get packed across other variety of packaging materials, that includes glass bottles, metal cans, and paper-based cartons.
  • Manufacturers have also preferred PET over other plastic packaging products, as it offers minimum loss of raw material in the manufacturing process as compared to other plastic products. Its highly recyclable nature and the option to add multiple colors and design has augmented it to become a preferred choice. Refillable products have also emerged with the rising consumer awareness for the environment and have acted in creating demand for the product.
  • With the outbreak of COVID-19, the PET bottles market has witnessed a significant drop in sales owing to factors, such as supply chain disruption that has slacken the demand for PET resins, and lockdown being enforced in various countries.
  • Further, as various festivals, sporting events, exhibitions, and other mass gatherings across the world are canceled, flights are grounded, and tourism is displaced due to people are staying home as a precautionary measure to curb the virus, and many government haven't allowed full functionality of these sectors, the demand for PET bottle had been hit tremendously.

Key Market Trends


Beverages Segment is Expected to Witness Significant Growth


  • The demand for PET bottles in the Beverage sector is anticipated to witness growth with the increasing demand for bottled water and non-alcoholic beverages. The demand for bottled-water is credited to consumers' propensity for specifically demanding high-quality drinking water, the fear of diseases as an aftermath of drinking polluted tap water, and the ease of portability and convenience provided by the bottled water.
  • The increasing demand for packaged drinking water among the consumers across the world is driving the market for the PET bottle for packaging of the bottled water as it offers high shelf life, ease of use, and enhanced protection to the products from potential deterioration agents and are cheaper than other packaging alternatives.
  • Moreover, the demand for packaged water in emerging economies, such as India, Mexico, South Africa, among others, is majorly due to the unavailability of safe drinking water because of the enormous increase in the population, inflow of international students and tourists, poor quality of tap water, and ease of availability of packaged water and rise of health awareness.
  • Also, companies are developing and innovating new PET bottles for packaged water bottles that are recyclable and maintains environment sustainability. For instance, in July 2020, Nestle waters North America has launched three domestic still water brands Ozarka, Deer Park, and Zephyrhills in the United States in 100% recycled plastic (rPET) packaging as part of its sustainable efforts that are 100% recyclable.
  • Moreover, in Feb 2020, Amcor announced its latest and custom designs at the Wine and Grape Symposium, North America. The company also announced a collaboration with Garçon Wines, a British start-up. Through this collaboration, Amcor will produce flat wine bottles made with post-consumer recycled (PCR) PET plastic in the US.​

United Kingdom is Expected to Witness Significant Growth


  • The increasing proliferation of PET bottles owing to ease of use, less cost, and low material weight in different end-user applications, ranging from food, beverage, cosmetics, and pharmaceuticals, are driving the market for a PET bottle in the country. According to the British Plastics Federations, 70% of the soft drinks are packaged in PET plastic bottles in the country.
  • The country is at the forefront regarding the consumption of soft drinks, which is also fueling the growth of the market studied. According to the British Soft Drinks Association 2019 report, 14,064 million liters and 211.5 liters per capita of soft drinks were consumed in the country. Additionally,71.1 % of the soft drinks were packaged in PET/plastic bottles.
  • Categories, such as carbonated soft drinks, dilutable, juice drinks, fruit juice, and sports and energy drinks, are driving the growth of the soft drink market in the country, which is aiding to the growth of the PET bottle market. According to the British Soft Drinks Association 2019 report, carbonated soft drinks, and sports and energy drinks contributed to 37.8% and 6%, respectively. The bottled water consumption in the country was also witnessing a significant rise and contributed to 21.2 % of the overall beverage consumption market in the country.
  • The cosmetic industry in the country is also flourishing, which is driving the growth of the market studied. According to CTPA, the United Kingdom is the third-largest market for cosmetics in the European Union and valued at GBP 9,681 million, in 2019.

Competitive Landscape


The PET Bottles Market is highly competitive owing to the presence of multiple vendors in the market operating in domestic and international markets. The market appears to be fragmented with the major players adopting various strategies like mergers, and acquisitions, product innovation, strategic partnerships in order to expand their reach and stay competitive in the market. Some of the major players in the market are SABIC, Amcor Plc, Berry Global Inc., Indorama Ventures, among others.


  • Feb 2020 - Amcor unveiled its most recent designs of PET bottles at the Unified Wine and Grape Symposium. In addition to the custom designs, The company also announced its collaboration with a British start-up Garçon Wines to make their signature and more sustainable flat wine bottles available to the U.S. market.
  • Jul 2019 - Berry Global completed the acquisition of RPC Group PLC, at an approximate price of USD 6.5 billion. RPC Group is among the leading global designer and engineer of plastic products in the packaging and non-packaging markets. This acquisition helped the growth of Berry’s Engineered Materials product portfolio, which is expected to strengthen the company’s product line.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


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1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Adoption of Lightweight Packaging Methods
4.2.2 Increasing Demand from Bottled-water Industry
4.3 Market Restraints
4.3.1 Environmental Concerns Regarding Use of Plastics
4.4 Industry Value Chain Analysis
4.5 Porters Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
5 TECHNOLOGY SNAPSHOT
5.1 Stretch Blow Molding
5.2 Injection Molding
5.3 Extrusion Blow Molding
5.4 Thermoforming
6 MARKET SEGMENTATION
6.1 End-user Vertical
6.1.1 Beverages
6.1.1.1 Packaged Water
6.1.1.2 Carbonated Soft Drinks
6.1.1.3 Fruit Juice
6.1.1.4 Energy Drinks
6.1.1.5 Other Beverages
6.1.2 Food
6.1.3 Personal Care
6.1.4 Household Care
6.1.5 Pharmaceuticals
6.1.6 Other End-user Verticals
6.2 Geography
6.2.1 North America
6.2.1.1 United States
6.2.1.2 Canada
6.2.2 Europe
6.2.2.1 United Kingdom
6.2.2.2 Germany
6.2.2.3 France
6.2.2.4 Italy
6.2.2.5 Rest of Europe
6.2.3 Asia Pacific
6.2.3.1 China
6.2.3.2 India
6.2.3.3 Japan
6.2.3.4 South Korea
6.2.3.5 Rest of Asia Pacific
6.2.4 Latin America
6.2.4.1 Mexico
6.2.4.2 Brazil
6.2.4.3 Argentina
6.2.4.4 Rest of Latin America
6.2.5 Middle East and Africa
6.2.5.1 Saudi Arabia
6.2.5.2 South Africa
6.2.5.3 United Arab Emirates
6.2.5.4 Rest of Middle East and Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 SABIC
7.1.2 Indorama Ventures Public Company Ltd
7.1.3 Neo Group UAB
7.1.4 Novapet SA
7.1.5 BASF SE
7.1.6 Amcor Plc
7.1.7 Berry Global Inc.
7.1.8 Graham Packaging Company Inc.
7.1.9 Alpha Packaging
7.1.10 Plastipak Holdings Inc.
8 INVESTMENT ANALYSIS9 MARKET OPPORTUNITIES AND FUTURE TRENDS
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