PET Beverage Packaging Market Report 2024

This PET Beverage Packaging market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The PET beverage packaging market size has grown strongly in recent years. It will grow from $31.87 billion in 2023 to $33.57 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth during the historic period can be attributed to several factors such as rising beverage consumption, cost-effectiveness, increased focus on sustainability and recycling, enhanced shelf life and preservation, and growing urbanization.

The PET beverage packaging market size is expected to see strong growth in the next few years. It will grow to $41.54 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth during the forecast period can be attributed to several factors such as rising health consciousness, expansion of the beverage industry, urbanization and increasing disposable income, growth in e-commerce, and regulatory support for recycling. Key trends expected during this period include advancements in barrier technologies, innovations in lightweight and redesign features, smart packaging solutions, customization and personalization, and a focus on both aesthetic and functional design.

The increasing consumption of bottled water is expected to drive the growth of the PET beverage packaging market in the future. Bottled water refers to drinking water that is sold in sealed containers for individual use, with rising consumption fueled by growing health awareness and the convenience of portable hydration. PET beverage packaging is commonly used for bottled water due to its lightweight nature, durability, and recyclability. For example, in July 2024, the International Bottled Water Association (IBWA), a US-based trade association, reported that bottled water volume increased by 0.4% in 2023. Consequently, the rising demand for bottled water is contributing to the expansion of the PET beverage packaging market.

Key companies in the PET beverage packaging market are focusing on developing innovative solutions, such as packaging made from post-consumer recycled (PCR) content, to meet sustainability commitments and requirements. Post-consumer recycled (PCR) content refers to materials that have been recycled after their initial use by consumers and then reprocessed into new products. For instance, in April 2024, Amcor Plc, an Australia-based packaging company, introduced a one-liter PET bottle for carbonated soft drinks (CSDs) made from 100% PCR content. This one-liter carbonated soft drink bottle, crafted entirely from PCR material, offers sustainability with a reduced carbon footprint while maintaining the same strength and performance as bottles made from virgin PET. It supports recycling initiatives and reduces environmental impact, meeting the high standards of carbonated beverage packaging for product integrity and consumer appeal.

In March 2024, Plastek Industries, Inc., a US-based supplier of high-quality injection molding tools and rigid plastic-molded packaging, partnered with Blaige & Company to implement a comprehensive acquisition plan aimed at driving growth and expansion. This partnership marks a significant move in Plastek's strategy to solidify its position as a key player in the fast-moving consumer goods (FMCG) industry. Blaige & Company, a US-based investment banking firm specializing in the plastics, chemicals, and packaging sectors, will support Plastek in identifying and executing strategic acquisitions to enhance its market presence.

Major companies operating in the pet beverage packaging market are Indorama Ventures, Ball Corporation, Amcor Plc, Berry Global Group Inc., Alpek, Sonoco Products Company, Silgan Holdings, Pactiv Evergreen Inc, ALPLA Group, CCL Industries, Plastipak Holdings Inc., Gerresheimer AG, Graham Packaging, Winpak Ltd., Altium Packaging, Coveris Management GmbH, Resilux NV, Comar LLC, Pro-Pac Packaging Limited, KHS Group, OCTAL Holding SAOC., Esterform Packaging Ltd, GTX Hanex Plastic, Apex Plastics.

Asia-Pacific was the largest region in the PET beverage packaging market in 2023. The regions covered in the pet beverage packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the pet beverage packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Polyethylene terephthalate (PET) beverage packaging involves using PET plastic for bottling and packaging drinks. PET is a lightweight, durable, and recyclable material known for its excellent resistance to impact and moisture, making it ideal for maintaining the freshness and quality of beverages. Its transparency provides clear visibility of the product, and its ease of molding into various shapes and sizes makes it a popular choice in the beverage industry.

The primary product types of PET beverage packaging include bottles, jars, lids, caps, closures, and other items. Rigid PET packaging refers to strong, sturdy, and durable containers designed to protect and store products. Packaging can be either rigid or flexible and is utilized by various end-user industries such as carbonated drinks, juices, water bottles, alcoholic beverages, energy drinks, and others.

The PET beverage packaging market research report is one of a series of new reports that provides pet beverage packaging market statistics, including PET beverage packaging industry global market size, regional shares, competitors with a PET beverage packaging market share, detailed PET beverage packaging market segments, market trends and opportunities, and any further data you may need to thrive in the PET beverage packaging industry. This PET beverage packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The PET beverage packaging market consists of sales of larger water jugs, juice jugs, flip-top caps, and soft drink bottles. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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