Market Trends of Plastic Bottles And Containers Industry
Beverage Segment to Witness Major Growth
- With the rising demand for bottled water and non-alcoholic beverages, the plastic bottle market in the beverage industry is expected to expand. The demand for bottled water is due to customers' predisposition to want high-quality drinking water, specifically concern about contracting diseases after drinking tainted tap water and the portability and convenience of bottled water.
- The market for bottled water packaging in plastic bottles is driven by the rising demand for packaged drinking water among consumers worldwide because they are more cost-effective than other packaging options, have a longer shelf life, and are easier to use.
- According to the Indian Beverage Association, PET bottles have the greatest recycling and reuse rates in India, at 85% and 7%, respectively. Most packaged drinking water bottles are sold as PET products, which keeps the cost of the product very low for the user.
- Plastic bottles have a significant demand in India in various categories, such as carbonated soft drinks, juice drinks, fruit juices, and sports and energy drinks, out of which water bottles show a potential share in the country, aiding the growth of the plastic bottle market.
- Indian Railways Catering and Tourism Corporation Limited launched a pet bottled water brand, "Rail Neer," which is sold on trains and railway stations, showing significant growth in revenue from INR 572.40 million (USD 6.93 million) in 2021 to INR 3,150 million (USD 38.14 million) in 2023, indicating the organic trend in demand for plastic bottled water in the region.
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Asia-Pacific is Expected to Hold Significant Market Share
- The market for beverage packaging has grown significantly over the last few years in the region. Rapid changes in beverage packaging trends across the region are key factors for market growth. The new trends in the packaging of beverages focus on structural changes, and the development of recycled materials like Post-consumer recycling, customer acceptance, safety, newer filling technologies, and the development of heat-resistant PET bottles provided new possibilities and options in the market and improved preservation of several drinks.
- PepsiCo India has announced that its product Pepsi Black will introduce the first 100 % recycled PET plastic bottles in the carbonated beverages category to be manufactured in India in July 2023. The manufacturer does not include the Pepsi Black label and cap for a completely recycled bottle in this initiative.
- Countries like China are witnessing significant recycling rates in plastic bottles, and multiple strategies have been developed to deal with the circular economy, which includes substituting for alternative materials, investments toward the development of bio-based plastics, and designing packaging to make the circular loop.
- Mars Wrigley, the Chinese confectionery company, released its first post-consumer recycled petrified PET (rPET) packaging in February 2023. Mars Wrigley has adopted the packaging of the local chocolate brand Cui Xiang. The packaging of the 216g container is 100% rPET to meet the recycling laws and initiatives in the region.
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