According to Future Market Insights research, the market for PET bottles will grow globally at a CAGR of 4.46% over the forecast period. The market value is projected to reach US$ 61.16 billion by 2032. The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales of PET Bottles in the coming 10 years.
The report conducts an in-depth analysis of factors causing the change in consumer behavior and purchasing patterns. It also provides refined sales projections to assist market players in identifying remunerative segments.
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The Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for PET Bottles
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for PET Bottles market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key PET Bottles Market Takeaways and Projections
- The U.S. is expected to lead the North America PET Bottles market, projecting the fastest growth in the region between 2022 and 2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
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Report Benefits & Key Questions Answered
- PET Bottles Historical Market Analysis: The detailed survey by FMI, examines key factors in the PET Bottles market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the PET Bottles market for the forecast period 2022-2032.
- PET Bottles Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for PET Bottles for the assessment period. As per the study, the demand for PET Bottles will grow at a robust CAGR between 2022 and 2032.
- PET Bottles Market Trend Analysis: The latest study by FMI on the PET Bottles market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of PET Bottles market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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PET Bottles Market: Segmentation
On the basis of capacity, the PET bottles market is segmented into:
- Less than 250 ml
- 250-500 ml
- 501-750 ml
- 751-1000 ml
- 1001-2000 ml
- More than 2000 ml
On the basis of end use, the PET bottles market is segmented into:
- Food
- Jams/Jellies
- Sauces
- Honey
- Others
- Beverage
- Bottled Water
- Carbonated Drinks
- Ready-to-drink
- Sports Drinks
- Alcoholic Drinks
- Cosmetics & Personal Care
- Pharmaceuticals
- Chemicals
- Nutritional Supplements
- Consumer Goods
- Others
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