Market Trends of PET Bottles Industry
This section covers the major market trends shaping the PET Bottles Market according to our research experts:
Beverages Segment is Expected to Witness Significant Growth
- The demand for PET bottles in the beverage sector is expected to grow along with the increasing demand for bottled water, soft drinks, and energy drinks. The need for bottled water stems from consumer preferences for high-quality drinking water, fear of illness from drinking contaminated tap water, and the portability and convenience of bottled water.
- Also, the increasing demand for packaged drinking water among consumers worldwide is driving the market for the PET bottle for packaging bottled water as it offers high shelf life. According to the British Soft Drink Association annual report 2021, bottled water consumption in the United Kingdom accounted for 2,542 million liters.
- 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.
- Moreover, many new entrants in the carbonated business are bringing light for rPETbottles and PET bottles to the region. For instance, in February 2021, Unesdasoft drink beverage packing pledged to make the EU (European Union) fully circular by 2030. According to the company, the bottle packaging sector includes 90% collection of recyclable packaging.
- Rapid urbanization changes consumer behavior because more and more consumers are interested in sustainability. The growing disposable income is propelling the purchasing power, and the smaller size of urban households compared to rural areas will give rise to new consumption trends.
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United Kingdom is Expected to Witness Significant Growth
- The increasing proliferation of PET bottles owing to ease of use, lower cost, and low material weight in different end-user applications, ranging from food, beverage, cosmetics, and pharmaceuticals, are driving the market for PET bottles in the country. According to the British Plastics Federation, 70% of soft drinks are packaged in PET plastic bottles in the country.
- In January 2022, Biffa, an integrated waste management business based in the United Kingdom, collaborated with Esterform Packaging, a U.K.-based independent producer of plastic bottles for carbonated drinks and alcohol, to supply the bottle producer with recycled plastic. The companies will use about 6,000 metric tons of polyethylene terephthalate (PET) from Biffa at their factories in Leeds and Worcestershire every year. Biffa processes PET at its Seaham facility, which the company states can recycle more than 2 billion plastic bottles annually.
- Further, in September 2022, United Kingdom's Research and Innovation's Smart Sustainable Plastic Packaging (SSPP) challenge launched a new EUR 2.5 Million (USD 2.1 million approximately) competition. The SSPP has been aiming for a balanced approach that targets some critical barriers to increasing plastic packaging reduction, reuse, and recycling. The challenge proposal includes novel chemical recycling approaches for PET (polyethylene terephthalate) packaging.
- The demand for healthier food alternatives, like fresh milk, is increasing because this type of milk is considered more nutritious and healthier than shelf-stable milk. According to the OECD data, the estimated consumption volume of fresh dairy products in the EU-28 would increase to about 37 million Tonnes by 2028.
- The region is also witnessing increased demand for flavored milk, and vendors are shifting to recyclable plastic bottle options. For instance, in January 2021, FrieslandCampina announced it to make PET bottles from 100% recycled PET (rPET). Moreover, the company's Research & Development department has additionally developed a brand called Zipper to make separate labels from bottles to recycle them. This has enabled the company to reduce 1.9 million kilos of new plastic. Thus, catering to the circular economy. Therefore, such developments and initiatives taken by various Milk producers in the region have been driving the demand for rPET bottles for milk packaging.
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