The global PET syrup bottle market is slated to register a strong CAGR range of 9% to 10% from 2022 to 2032. Historically, the market registered an average CAGR range of 4% to 5% from 2013 to 2020. It is anticipated that the PET syrup bottle market will reach a significant sum by the end of 2032. This market benefits from the growing emphasis on using sustainable and recyclable pharmaceutical packaging solutions for liquid products.
There is a significant rise in the prevalence of diseases such as flu, viral infections, cold, cough, and others, due 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 study by the Centers for Disease Control and Prevention (CDC), nearly 39 Mn to 56 Mn incidences of flu illnesses were estimated to be reported across the U.S. in the flu season between 2019 and 2020.
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PET syrup bottles are extensively used 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 above-mentioned diseases is projected to create high revenue generation opportunities in the global market.
Thus, the growing demand for liquid medicines for the treatment of various diseases will propel the demand for PET syrup bottles. Increasing demand for packaged food and beverage items also has a positive influence on the global sales of PET syrup bottles. The rising adoption of PET syrup bottles across healthcare, chemicals, and pharmaceuticals spurs the demand for the product in the upcoming years. All of the aforementioned factors, work in tandem with others, to stimulate the market growth for PET syrup bottles.
Key Takeaways:
- Rising environmental concerns, the growing awareness of the adverse effect of plastic use on the environment, and the presence of alternatives will stymie the growth of the PET syrup bottle market.
- South Asia will emerge as an immensely opportunistic market for PET syrup bottles due to an expanding medical and pharmaceutical sector.
- The introduction of new plastic packaging solutions for liquid products will push the PET syrup bottle market in Europe to register a strong growth rate during 2022 and 2032.
Competitive Landscape
Berry M&H, Amcor Limited, Gerresheimer AG, All American Containers, Alpha Packaging, PET Power (RPC Group), PontEurope, and Graham Packaging Company, among others, are a few of the key players in the PET syrup bottle market profiled in the full version of the report.
Eminent market players are keen on the launch of novel and innovative products. These firms also engage in various partnerships, collaborations, mergers, and acquisitions to gain a competitive advantage.
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More Insights Into PET Syrup Bottle Market
In its latest report, FMI offers an unbiased analysis of the global PET syrup bottle market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of shape (long neck, round, square), capacity (less than equal to 50ml, 50ml to 100ml, 100ml to 250ml, 250ml to 500ml, above 500ml), end-use industry (food and beverage, pharmaceuticals, healthcare, chemicals, others), and region.
According to the same reports, based on region, the PET syrup bottle market in South Asia will present significant growth during this period of observation. This region will emerge as an attractive pocket for the target market. A rapidly growing medical and pharmaceutical sector across the Asia Pacific will aid the growth of the market in South Asia. The presence of several pharmaceutical companies, the rising adoption of innovative technologies, and the introduction of three-layered PET bottles for gamma rays irradiation also fuel the PET syrup bottle market growth in South Asia. Europe, too, will exhibit considerable growth in the PET syrup bottle market. It is estimated that Europe’s PET syrup bottle market will grow at a strong rate during this period. The target market in this region will be aided by the introduction of novel packaging solutions by key market players in Europe. Thus, South Asia and Europe will contribute substantially to the overall market growth.
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
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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