The PET preform market is projected to be worth USD 17.5 billion in 2024. The market is anticipated to reach USD 26.3 billion by 2034. The market is further expected to surge at a CAGR of 4.4% during the forecast period 2024 to 2034.
Key Market Trends and Highlights
Rising health consciousness among consumers has led to a growing demand for healthier beverage options, such as bottled water and natural juices. The trend can drive the demand for PET preforms used in the packaging of these products.
Attributes | Key Insights |
---|---|
PET Preform Market Estimated Size in 2024 | USD 17.5 billion |
Projected Market Value in 2034 | USD 26.3 billion |
Value-based CAGR from 2024 to 2034 | 4.4% |
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The market for PET preform rose at a 2.4% CAGR between 2019 and 2023. The global market for PET preform is anticipated to grow at a moderate CAGR of 4.4% over the forecast period 2024 to 2034.
The market experienced steady growth during the historical period from 2019 to 2023. Several factors contributed to this historical surge. Consumer preferences for unique and innovative packaging designs have driven manufacturers to offer customized PET preforms. Companies that can provide creative and customizable solutions may find growth opportunities.
Regulatory initiatives promoting the use of recyclable materials and reducing the environmental impact of packaging influenced the market growth. Compliance with such regulations may become a competitive advantage. Changes in global supply chain dynamics, such as disruptions or geopolitical factors, also positively impacted the availability and cost of raw materials used in PET preform production.
Looking ahead to the forecast period from 2024 to 2034, the market is expected to witness significant growth. Urbanization trends often correlate with increased demand for packaged goods, including beverages. Urban populations tend to have busier lifestyles, leading to a higher reliance on convenient and portable packaging, such as PET bottles.
The increasing emphasis on environmental sustainability has led to research and development of biodegradable alternatives to traditional PET. Companies exploring and adopting such alternatives may tap into new market segments.
The beverage industry, especially the carbonated soft drinks and bottled water sectors, is a major driver for the PET preform market. The demand for PET preforms increases, as consumer demand for bottled beverages increases.
The market faces competition from alternative packaging materials, including bio based plastics, glass, and metal, which are perceived as more environmentally friendly. Consumer preferences and regulatory changes may influence the adoption of these alternatives.
The below table showcases revenues in terms of the top five leading countries, spearheaded by India and China. The countries are expected to lead the market through 2034.
Attribute | Forecast CAGRs from 2024 to 2034 |
---|---|
The United States | 3.3% |
China | 6.2% |
Germany | 2.6% |
Japan | 3.7% |
India | 7.1% |
The PET preform market in the United States expected to expand at a CAGR of 3.3% through 2034. The demand for PET preforms is closely tied to the growth of the beverage industry.
The need for PET preforms for bottle production increases, as the consumption of bottled water, soft drinks, juices, and other beverages continues to rise.
The PET preform market in China is anticipated to expand at a CAGR of 6.2% through 2034. The manufacturing sector in China has seen continuous advancements in technology and automation.
The improvements in PET preform manufacturing processes enhance efficiency, reduce costs, and contribute to market growth.
PET preform trends in Germany are taking a turn for the better. A 2.6% CAGR is forecast for the country from 2024 to 2034. PET is known for its lightweight and durable characteristics, making it a preferred material for packaging in Germany. The demand for lightweight packaging solutions, which reduce transportation costs and environmental impact, can drive the growth of PET preforms.
The PET preform market in Japan is poised to expand at a CAGR of 3.7% through 2034. Increasing awareness of health and wellness among Japanese consumers may lead to a higher demand for bottled water and healthier beverages, driving the growth of the market.
The PET preform market in India is anticipated to expand at a CAGR of 7.1% through 2034. The growth of the retail sector in India, including supermarkets, convenience stores, and hypermarkets, creates increased shelf space for packaged goods. The expansion provides opportunities for PET preform manufacturers to meet the rising demand for packaged beverages.
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The below table highlights how 500 ml to 1000 ml segment is projected to lead the market in terms of capacity and is expected to account for a market share of 53.3% in 2024.
Based on end use, the beverages segment is expected to account for a market share of 86.7% in 2024.
Category | Market Share in 2024 |
---|---|
500 ml to 1000 ml | 53.3% |
Beverages | 86.7% |
Based on capacity, the 500 ml to 1000 ml segment is expected to continue dominating the PET preform market. The 500 ml to 1000 ml capacity range is commonly used for packaging beverages such as carbonated soft drinks, juices, and bottled water. The continued growth in the beverage industry contributes significantly to the demand for PET preforms in this segment.
In terms of end use, the beverages segment is expected to continue dominating the PET preform market. The demand for bottled beverages, including water, soft drinks, juices, and other non alcoholic beverages, has been steadily increasing globally.
The demand for PET preforms used in the production of plastic bottles for beverages rises, as consumer preferences shift towards convenience and on the go products.
The PET Preform market is highly competitive and dynamic, reflecting the global demand for efficient and sustainable packaging solutions. Key players in this market engage in strategic initiatives to maintain and enhance their market position, leveraging factors such as technological innovation, sustainability practices, and strategic partnerships.
Recent Development
Attribute | Details |
---|---|
Estimated Market Size in 2024 | USD 17.5 billion |
Projected Market Valuation in 2034 | USD 26.3 billion |
Value-based CAGR 2024 to 2034 | 4.4% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in USD billion |
Key Regions Covered | North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, The Middle East & Africa |
Key Market Segments Covered | Capacity; Neck Type; End Use; Region |
Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, France, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
Key Companies Profiled | ALPLA Werke Alwin Lehner GmbH & Co KG; Plastipak Holdings Inc.; RETAL Industries Ltd.; Resilux NV; Societe Generale Des Techniques (SGT); Taiwan Hon Chuan Enterprises Co. Ltd.; Zhongfu Enterprise Co Ltd.; Manjushree Technopack Limited Co.; Logoplaste UK Ltd.; Indorama Ventures Public Co. Ltd. |
The PET preform market is projected to reach a valuation of USD 17.5 billion in 2024.
The PET preform industry is set to expand by a CAGR of 4.4% through 2034.
The PET preform market is forecast to reach USD 26.3 billion by 2034.
India is expected to be the top performing market, exhibiting a CAGR of 7.1% through 2034.
500 ml to 1000 ml is preferred and is expected to account for a market share of 53.3% in 2024.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Material 5.1. ROPP/BPV 5.2. PCO/BPF 5.3. Others 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Capacity 6.1. Up to 500 ml 6.2. 500 ml to 1000 ml 6.3. 1000 ml to 2000 ml 6.4. More than 2000 ml 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 7.1. Beverages 7.1.1. Bottled Water 7.1.2. Carbonated Drinks 7.1.3. RTD Tea & Coffee 7.1.4. Juice 7.1.5. Sports Drinks 7.1.6. Other Soft Drinks 7.1.7. Alcoholic Drinks 7.2. Food 7.3. Personal Care 7.4. Pharmaceuticals 7.5. Home Care 7.6. Others 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. ALPLA Werke Alwin Lehner GmbH & Co KG 18.2. Plastipak Holdings, Inc. 18.3. RETAL Industries Ltd. 18.4. Resilux NV 18.5. Societe Generale Des Techniques (SGT) 18.6. Taiwan Hon Chuan Enterprises Co., Ltd. 18.7. Zhongfu Enterprise Co Ltd. 18.8. Manjushree Technopack Limited Co. 18.9. Logoplaste UK Ltd. 18.10. Indorama Ventures Public Co., Ltd. 19. Assumptions & Acronyms Used 20. Research Methodology
Packaging
October 2022
REP-GB-7560
250 pages
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