Bottles
made from polyethylene terephthalate (PET) plastic material are
gaining traction globally, owing to various advantages offered by PET
bottles such as lightweight, flexibility, and unbreakable.
Factors
such as rising applications of PET bottles by the beverage industry
in packaged water, juices, flavored water, functional water,
carbonated drinks, and others are boosting growth of the global PET
bottles market. According to Coherent Market Insights, global
flavored and functional water market is estimated to reach US$ 70.32
billion by 2025, from US$ 29.01 billion in 2017, which in turn will
increase demand for PET bottles in the global market.
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Significant
initiatives by food & beverages and packaging manufacturers to
develop bio-based PET is a major factor driving growth of the PET
bottles market. For instance, in April 2017, Danone and Nestlé
Waters, collaborated with Origin Materials to form NaturALL Bottle
Alliancea. This collaboration aims to develop and launch PET bottle
from sustainable and renewable bio-based material.
Regulations
imposed on using PET bottles for alcohol is one of the major factors
hindering growth of PET bottles market. For instance, production and
sale of alcoholic drinks in PET bottles was banned in January 2017,
in Russia under the law on amendments to parts 1 and 2 of Tax Code
and specific legislative acts of Russian Federation. Furthermore,
growing concerns due to environment pollution caused by plastics such
as PET is another restraint hindering growth of this market. However,
increasing recycling of PET bottles is reducing the impact of this
restraint. According to British Plastics Federation, in household
waste stream 60% of the PET bottles were collected for recycling in
2014, which was just 3% in 2001 in U.K.
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information @:
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Among
application segment, beverage segment held the highest market share
in 2017, in the global PET bottles market. PET is a popular choice of
packaging for beverages such as soft drinks and bottled water, owing
to its advantages including ease of molding into desired shapes.
According to the British Soft Drinks Association, PET was the most
commonly used packaging material for soft drinks in U.K. in 2015, and
held a market share of 72% in U.K.
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Coherent Market Insights:
Coherent
Market Insights is a prominent market research and consulting firm
offering action-ready syndicated research reports, custom market
analysis, consulting services, and competitive analysis through
various recommendations related to emerging market trends,
technologies, and potential absolute dollar opportunity.
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Us:
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Market Insights
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