PET Beverage Packaging Market Size (2024 - 2029)

The PET Beverage Packaging Market is experiencing growth driven by increasing demand for lightweight, cost-effective, and environmentally friendly packaging solutions. The material's advantageous properties, such as being shatterproof and non-reactive, contribute to its widespread use in beverage packaging. Despite challenges posed by geopolitical tensions and regulatory changes aimed at reducing plastic waste, the market continues to expand due to consumer preferences for packaged beverages and the material's recyclability. The market's expansion is supported by PET's minimal raw material loss during production and its ability to accommodate various designs, making it a preferred choice for manufacturers.

Market Size of PET Beverage Packaging Industry

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PET Beverage Packaging Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 4.67 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

PET Beverage Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

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PET Beverage Packaging Market Analysis

The PET Beverage Packaging Market is expected to register a CAGR of 4.67% during the forecast period.

Polyethylene terephthalate (PET) is broadening the use of plastic bottles. There is a rising demand for PET packaging in the bottled and soft water segments. Many creative, economical, and environmentally friendly packaging options are already available, and PET is a widely recognized material.

  • The benefits of polyethylene terephthalate as a material are that it is shatterproof, non-reactive when in contact with beverages, and delivers a high strength-to-weight ratio. Being lightweight also provides cost savings when transporting products using PET packaging. PET plastic is a secure packaging material for beverage products. PET plastic has been approved as safe for food and beverage contact by the FDA in the United States and similar regulatory bodies across North America.
  • The war between Russia and Ukraine has resulted in economic sanctions against several countries, high commodity prices, and supply chain disruptions. Regarding the conflict, some companies have taken steps to sanction Russia by suspending their activities in Ukraine and other European countries. The Russia-Ukraine conflict has triggered a protest in crude oil and gas markets and a big dose of uncertainty, adding to the already high inflationary pressure on global commodity markets. Several manufacturers also fretted over the transformation in demand from plastics to other raw materials.
  • The changing lifestyles and accompanying consumer reliance on packaged beverages boost sales of PET bottle packaging products. This trend is driving the sales of products with their superior barrier properties, convenient formats, high-quality printability, and careful use of material resources. Growing demand for packaged drinking water from consumers worldwide provides higher durability, ease of use, and improved product protection from potential spoilage factors than other packaging alternatives. Due to its low cost, it drives the market for PET bottles for packaging.
  • The market is anticipated to be significantly challenged due to dynamic regulatory standard changes, mainly due to rising environmental concerns. Governments globally have been responding to public concerns regarding plastic packaging waste and implementing regulations to reduce environmental waste and improve waste management processes.
  • However, manufacturers prefer PET over other packaging products, as it has a minimal loss of raw material during the entire manufacturing process compared to other plastic materials. Its recyclability and the feature of adding multiple colors and designs have made it a suitable choice. Refillable products have emerged with rising consumer awareness about the environment. This has helped in creating the demand for the product.

PET Beverage Packaging Industry Segmentation

The compound used for the manufacturing process of a wide variety of plastic bottles is polyethylene terephthalate or PET. In particular, it is important to point out that plastic containers of beverages are not the same as BPAbishenolA.

The study tracks the demand based on the consumption of PET beverage products globally across various end users listed in the study. The study factors in the impact of the Russia-Ukraine War on the overall supply chain of the market. The study factors the prevalent base scenarios, key themes, and end-user vertical-related demand cycles.

The PET beverage packaging market is segmented by product (bottles, jars, lids/caps & closures), end-user industry (carbonated drinks, juices, water bottles, alcoholic beverages, energy drinks), and geography (North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Rest of Europe), Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America, Middle East & Africa). The report offers market forecasts and size in volume (tonnes) and value (USD) for all the above segments.

By Product
Bottles
Jars
Lids/Caps & Closures
Other Products
By End-user Industry
Carbonated Drinks
Juices
Water Bottles
Alcoholic Beverages
Energy Drinks
Other End-user Industries
By Geography***
North America
United States
Canada
Europe
France
Germany
Italy
Spain
United Kingdom
Asia
China
India
Japan
Latin America
Middle East and Africa
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PET Beverage Packaging Market Size Summary

The PET Beverage Packaging Market is experiencing a steady growth trajectory, driven by the increasing demand for packaged beverages such as bottled and soft water. Polyethylene terephthalate (PET) is gaining popularity due to its advantageous properties, including being shatterproof, non-reactive, and having a high strength-to-weight ratio, which offers cost savings in transportation. The material's lightweight nature and recyclability make it a preferred choice for beverage packaging, as it aligns with the growing consumer preference for eco-friendly solutions. Despite challenges posed by geopolitical tensions and regulatory changes aimed at reducing plastic waste, PET remains a dominant material due to its minimal raw material loss during manufacturing and its ability to be recycled multiple times.

The market is further bolstered by innovations and strategic investments from major players like Amcor Ltd, Gerresheimer AG, and Berry Global Group, who are focusing on sustainable packaging solutions and expanding their product offerings. The demand for PET bottles is particularly strong in regions like China and India, where the beverage market is expanding rapidly due to urbanization and increased consumer spending on high-quality drinks. In Japan, PET bottles are preferred over glass due to their enhanced functionality and cost-effectiveness. The market's growth is also supported by initiatives such as the development of 100% plant-based PET bottles and high-tech recycling plants, which aim to strengthen the circular economy and reduce environmental impact.

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PET Beverage Packaging Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Assessment of the Impact of the Ukraine-Russia Standoff on the Plastic Packaging Market

    5. 1.5 Regulatory Framework

    6. 1.6 Import and Export Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product

      1. 2.1.1 Bottles

      2. 2.1.2 Jars

      3. 2.1.3 Lids/Caps & Closures

      4. 2.1.4 Other Products

    2. 2.2 By End-user Industry

      1. 2.2.1 Carbonated Drinks

      2. 2.2.2 Juices

      3. 2.2.3 Water Bottles

      4. 2.2.4 Alcoholic Beverages

      5. 2.2.5 Energy Drinks

      6. 2.2.6 Other End-user Industries

    3. 2.3 By Geography***

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 France

        2. 2.3.2.2 Germany

        3. 2.3.2.3 Italy

        4. 2.3.2.4 Spain

        5. 2.3.2.5 United Kingdom

      3. 2.3.3 Asia

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

      4. 2.3.4 Latin America

      5. 2.3.5 Middle East and Africa

PET Beverage Packaging Market Size FAQs

The PET Beverage Packaging Market is projected to register a CAGR of 4.67% during the forecast period (2024-2029)

Amcor PLC, Resilux NV, Nampak Ltd, Berry Global Inc. and Silgan Holdings Inc. are the major companies operating in the PET Beverage Packaging Market.

PET Beverage Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)