PET Beverage Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.67 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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PET Beverage Packaging Market Analysis
The PET Beverage Packaging Market was valued at USD 33.11 billion in the previous year and is expected to grow at a CAGR of 4.67%, reaching USD 43.29 billion by the next five years 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 Market Trends
Bottles to Hold Major Market Share
- The growing demand for packaged water and carbonated drinks has led to a spike in demand for PET bottles. In addition, increasing environmental awareness and demand for eco-friendly packaging solutions have led consumers to prefer PET bottles over other packaging materials.
- PET offers superior stiffness compared to other plastics. It also maintains a robust protective structure and has moisture resistance. It is used in the production of PET bottles for beverages and liquids. PET is well known because it provides a superior oil barrier that helps resist chemicals that can damage plastics.
- Beverage companies are focused on innovating new solutions. For instance, in line with its goal to transition to 100% recycled and plant-based PET bottles by 2030, the Suntory Group unveiled a prototype PET bottle made from a 100% plant-based materials partnership. The bottle was developed in collaboration with US-based Anellotech for Suntory's Orangina and Tennensui soft drinks brands in the European and Japanese markets.
- PET is widely favored for plastic bottles (and other uses) because it is 100% recyclable and highly sustainable. It can be recovered and recycled many times into new products, reducing the number of wasted resources. Over the projected period, bio-based plastics, particularly 100% bio-based PET bottles, are anticipated to increase market share.
- As bottled water sales have demonstrated an uptick in recent years, so has per capita consumption in the United States. In the past ten years, annual bottled water purchase has increased by nearly 40%, reaching a total of nearly 47 gallons per person by 2021. Bottled water was the most consumed beverage by Americans a year earlier, followed by soft drinks in second place.
- According to Beverage Marketing Corporation and International Bottled Water Association, the Sales volume of bottled water in the United States has witnessed a steady growth trend. The sale volume shot up to 15.90 gallons in 2022, starting from 13.20 gallons just five years back in 2017. Notably, according to Agriculture and Agri-Food Canada, the retail sales value of flavored bottled water in the United States also increased from USD 3.63 billion in 2015 to USD 7.29 billion in 2022. This growth is expected to be witnessed in the forecast period, also attributing to a substantial push to the market demand for PET water bottles.
Asia Pacific Expected to Witness Significant Growth
- China's packaging industry is growing steadily due to the nation's expanding economy and growing middle class with increased purchasing power. Beverage packaging demand is rising because China's beverage market has grown significantly over the last few years. Each beverage category will face its own set of challenges and opportunities.
- The growing consumption of non-alcoholic drinks in urban regions has propelled the growth of beverages. Such potential has attracted foreign companies like Coca-Cola to continue to invest heavily in the Chinese market. Recently, Coca-Cola China and its bottling partners have announced plans to inaugurate new production lines and a factory, following an estimated total investment of CNY 520 million (USD 75.3 million). Additionally, in 2023, the company invested in its plant to boost its performance and enhance its presence on online and offline channels and marketing innovations. These factors are projected to fuel market growth and attract foreign companies to the Chinese market.
- In India, beverage packaging has witnessed significant growth in recent years. The key factors that drive the market growth include the rapid changes in beverage packaging trends across the country. There has been significant adoption of novel techniques for packaging. New beverage packaging trends focus on the structure modification of packaging materials and the development of new active systems that can interact with the product or its environment, customer acceptability, security, and improving the conservation of several beverages.
- Glass and PET bottles are used extensively in Japan. PET bottles are still chosen over conventional glass bottles because of technical improvements that allow them to perform additional functions besides only retaining liquids. The market for beverage packaging in Japan is driven by the growing consumption of ready-to-drink (RTD) beverages due to busy consumer work schedules and sedentary lifestyles. These bottles help to improve the shelf life and preservation of the products and are available in cost-effective formats.
- The beverage packaging market is expanding significantly due to the growing consumer concerns about the negative health impact of synthetic additives, preservatives, etc., which augment the demand for organic beverages. Additionally, the elevating levels of urbanization and enhanced consumer living standards have propelled the country's per capita expenditures on high-quality, organic drinks.
PET Beverage Packaging Industry Overview
The PET Beverage Packaging market is fragmented with the presence of major players such as Amcor Ltd, Gerresheimer AG, Berry Global Group, Silgan Holdings Inc., and Huhtamaki Oyj. Players are focused on expanding their business by innovating new solutions through collaborations and investments in the industry.
- In July 2023 - Amcor Rigid Packaging (ARP) is to partner with Ron Rubin Winery for the launch of BLUE BIN, the first premium wine packaged in a 750mL bottle made from 100% recycled polyethylene terephthalate (rPET) plastic.
- In June 2023 - In Ballito, a coastal town north of Durban, ALPLA is constructing a high-tech recycling plant with a capacity of 35,000 tons of recycled PET material. The plant is ALPLA's first step in entering the African recycling market and will begin construction in the summer of 2023 with a planned completion date of autumn 2024. ALPLA is investing approximately EUR 60 million (USD 64.5312 million) to strengthen the regional circular economy.
PET Beverage Packaging Market Leaders
Amcor PLC
Resilux NV
Nampak Ltd
Berry Global Inc.
Silgan Holdings Inc.
*Disclaimer: Major Players sorted in no particular order
PET Beverage Packaging Market News
- June 2023 - Graham Packaging implemented a five-pronged strategy that includes reducing energy intensity, sourcing renewable energy, increasing the use of post-consumer recycled (PCR) materials, lightweight bottles, and collaborating with suppliers to reduce GHG emissions. Graham is also exploring innovations like ceramic oven reflectors in its heating systems, which can reduce oven power consumption by 10-20%, and automated compressed air controller solutions.
- March 2023 - Apex Plastics has expanded its product range to encompass not only Trek's standard Vodabottles in 21 and 26 oz but also their premium VodaFlo bottles in 21 oz and 26 oz, as well as a 15 oz bottle. This broadening of product range enables the company to meet the needs of Trek's water bottles and, potentially, those of other clients.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of the Impact of the Ukraine-Russia Standoff on the Plastic Packaging Market
4.5 Regulatory Framework
4.6 Import and Export Analysis
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Outstanding Properties of Pet Suited to Beverage Packaging
5.1.2 Rising Demand for Sustainable Packaging
5.2 Market Challenges
5.2.1 Regulations Against the use of Plastics in Some Regions
6. GLOBAL BEVERAGE INDUSTRY LANDSCAPE
7. GLOBAL BEVERAGE PACKAGING INDUSTRY LANDSCAPE
8. MARKET SEGMENTATION
8.1 By Product
8.1.1 Bottles
8.1.2 Jars
8.1.3 Lids/Caps & Closures
8.1.4 Other Products
8.2 By End-user Industry
8.2.1 Carbonated Drinks
8.2.2 Juices
8.2.3 Water Bottles
8.2.4 Alcoholic Beverages
8.2.5 Energy Drinks
8.2.6 Other End-user Industries
8.3 By Geography
8.3.1 North America
8.3.1.1 United States
8.3.1.2 Canada
8.3.2 Europe
8.3.2.1 France
8.3.2.2 Germany
8.3.2.3 Italy
8.3.2.4 Spain
8.3.2.5 United Kingdom
8.3.2.6 Rest of Europe
8.3.3 Asia-Pacific
8.3.3.1 China
8.3.3.2 India
8.3.3.3 Japan
8.3.3.4 Rest of Asia-Pacific
8.3.4 Latin America
8.3.5 Middle East and Africa
9. COMPETITIVE LANDSCAPE
9.1 Company Profiles*
9.1.1 Amcor PLC
9.1.2 Resilux NV
9.1.3 Nampak Ltd
9.1.4 Berry Global Inc.
9.1.5 Silgan Holdings Inc.
9.1.6 Graham Packaging
9.1.7 GTX Hanex Plastic Sp. Z.O.O
9.1.8 Altium Packaging
9.1.9 Comar LLC
9.1.10 Apex Plastics
9.1.11 Khs GmbH (Salzgitter Klckner-Werke GmbH)
9.1.12 Esterform Packaging
9.1.13 ALPLA Group
9.1.14 Plastipak Holdings Inc.
9.1.15 Retal Industries Limited
10. PET BEVERAGE PACKAGING MANUFACTURERS
11. INVESTMENT ANALYSIS
12. FUTURE OF THE MARKET
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 | ||||||||
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| Latin America | ||||||||
| Middle East and Africa |
Frequently Asked Questions
What is the current PET Beverage Packaging Market size?
The PET Beverage Packaging Market is projected to register a CAGR of 4.67% during the forecast period (2024-2029)
Who are the key players in PET Beverage Packaging Market?
Amcor PLC, Resilux NV, Nampak Ltd, Berry Global Inc. and Silgan Holdings Inc. are the major companies operating in the PET Beverage Packaging Market.
Which is the fastest growing region in PET Beverage Packaging Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in PET Beverage Packaging Market?
In 2024, the Asia Pacific accounts for the largest market share in PET Beverage Packaging Market.
What years does this PET Beverage Packaging Market cover?
The report covers the PET Beverage Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the PET Beverage Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
PET Beverage Packaging Industry Report
Statistics for the 2024 PET Beverage Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. PET Beverage Packaging analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
