The global polyethylene terephthalate (PET) syrup bottle market is expected to bolster at an impressive CAGR of 9% to 10% during the assessment period from 2022 to 2032. According to the Future Market Insights historical analysis, the global PET syrup bottle market registered a CAGR ranging from 4% to 5% between 2013 and 2020.
The growth of the market is attributed to the increasing focus introduction of sustainable and recyclable pharmaceutical packaging solutions for liquid products is estimated to facilitate the growth in the PET syrup bottle market. In addition to this, the rising adoption of alternate packaging solutions like glass and metal bottles is also projected to hinder the sales of plastic syrup container in the global market.
plastic syrup container are utilized for storing liquid food items, beverages, and liquid medicine. The PET syrup bottles are formulated from plastic resins called Polyethylene Terephthalate (PET). Such bottles are excessively being adopted as an alternative to other rigid packaging solutions, owing to their inherent properties like transparency, lightweight, impact-withstanding strength, and ability to provide excellent finished packaging to the products.
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Key Takeaways
- There is a significant surge in the prevalence of diseases such as flu, viral infections, colds, and cough among several others. The surge in the various diseases is attributed to the depleting immunity of the population across the globe, resulting in propelling the demand for associate therapeutics such as tablets and liquid medicines.
- According to a recent study conducted by the Centers for Disease Control and Prevention (CDC), approximately 39 million to 56 million incidences of flu illnesses have witnessed a significant surge and were estimated to be reported all over the United States during the flu season between 2019 and 2020.
- PET syrup bottles are extensively utilized for packaging liquid medicines and other medical products such as cough syrup, antiseptics, antipyretic syrup, and others. Hence, surging demand for liquid medications for the treatment of the above-mentioned diseases is projected to create high revenue generation opportunities in the global market.
- Attributed to the surging concerns pertaining to environmental safety and rising awareness concerning the adverse effects on nature because of the use of plastics, governments in several countries are implementing stringent regulations regarding the use of plastics. This is estimated to slow down the demand for PET syrup bottles in the coming years.
- The increasing adoption of alternative packaging solutions by utilizing materials like glass and metal bottles is also projected to hinder the sales of PET syrup bottles in the global market.
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Competitive Landscape
Some prominent players within the global polyethylene terephthalate (PET) syrup bottle market are focusing on the widespread adoption of new and effective strategies such as new product launches, collaboration, partnership, mergers, and acquisitions to gain an edge in the highly competitive PET syrup bottle market.
The key players Are:
- Amcor Limited
- Gerresheimer AG
- All American Containers
- Alpha Packaging
- PET Power (RPC Group)
- PontEurope
- Berry M&H
- Graham Packaging Company
- Others
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More Insights into the PET Syrup Bottle Market
South Asian market is expected to dominate the global PET syrup bottle market as it is expected to emerge as a highly remunerative market across the projection period from 2022 to 2032, analyzed by Future Market Insights.
The global market for PET syrup bottles is massively driven by rapidly expanding medical and pharmaceutical industries across the Asia Pacific. In addition to that, a large number of pharmaceutical product manufacturing companies, increasing adoption of innovative technologies, and rising introduction of three-layered PET bottles for gamma rays irradiation are some of the factors bolstering the growth in the PET syrup market across South Asia.
The surge in the adoption of PET syrup bottles across the food and beverage industry is accounted on the basis of their high good against chemical reactions, and tamper-proof properties are estimated to augment the demand in the market.
The European region is expected to create lucrative growth opportunities over the projection period by exhibiting a rapid CAGR in the PET syrup bottle market during the forecast period 2022-2032. Furthermore, prominent players in the market are focusing on introducing novel plastic packaging solutions for liquid products to capitalize on the surging demand.
Some of the leading manufacturers and suppliers of plastic packaging recently announced the introduction of a new 250nm PET syrup bottle that can be used for packaging a variety of syrups, sauces, fruit mixes, liqueurs, and others. A slew of such new product launches is anticipated to augment the growth in the Europe market.
Key Segments Profiled in the PET Syrup Bottle Market Survey
By Shape:
- Long Neck
- Round
- Square
By Capacity:
- Less than equal to 50ml
- 50ml to 100ml
- 100ml to 250ml
- 250ml to 500ml
- 500ml above
By End Use:
- Food & Beverages
- Pharmaceuticals
- Healthcare
- Chemicals
- Others
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