The sales in the global polyethylene terephthalate (PET) syrup bottle market are anticipated to project growth at an impressive CAGR of 9% to 10% CAGR during the assessment period from 2022 to 2032 in comparison to the 4% to 5% CAGR registered between 2013 and 2020. Increasing focus on introduction of sustainable and recyclable pharmaceutical packaging solutions for liquid products is estimated to facilitate the growth in the PET syrup bottle market.
| Report Attribute | Details |
|---|---|
| PET Syrup Bottle Market Registered Growth Rate (2013 to 2020) | 4% to 5% CAGR |
| PET Syrup Bottle Market Projected Growth Rate (2022 to 2032) | 9% to 10% CAGR |
Plastic syrup bottles are used for storing liquid food items, beverages, and liquid medicine. The PET syrup bottles are formulated from plastic resins called as Polyethylene Terephthalate (PET). These bottles are increasingly being adopted as an alternative to other rigid packaging solutions, owing to their inherent properties like transparency, lightweight, impact withstanding strength, and ability to provide excellent finished packaging to the products.
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There is a significant rise in the prevalence of diseases such as flu, viral infections, cold, cough, and others, due to the depleting immunity of the population across the globe, resulting in propelling the demand for associate therapeutics such as tablets and liquid medicines.
According to a study by the Centers for Disease Control and Prevention (CDC), nearly 39 Million to 56 Million incidences of flu illnesses were estimated to be reported across the USA in the flu season between 2019 and 2020.
PET syrup bottles are extensively used for packaging liquid medicines and other medical products such as cough syrup, antiseptics, antipyretic syrup, and others. Hence, surging demand for liquid medications for the treatment of above-mentioned diseases is projected to create high revenue generation opportunities in the global market.
Due to the growing concerns pertaining to environmental safety and rising awareness regarding the adverse effects on nature because of the use of plastics, governments in several countries are implementing stringent regulations regarding the use of plastics. This is estimated to slow down the demand for PET syrup bottles in the coming years.
In addition to this, rising adoption of alternate packaging solutions like glass and metal bottles is also projected to hinder the sales of PET syrup bottles in the global market.
South Asia is expected to emerge as a highly remunerative market for PET syrup bottles during the forecast period 2022 to 2032, as per the Future Market Insights.
The market for PET syrup bottles is largely driven by rapidly expanding medical and pharmaceutical industries across Asia Pacific. A large number of pharmaceutical product manufacturing companies, increasing adoption of innovative technologies, and rising introduction of three-layered PET bottles for gamma rays irradiation are some of the factors bolstering the growth in the PET syrup market across South Asia.
In addition to this, the increasing adoption of PET syrup bottles across the food & beverage industry, on account of its high good against chemical reactions, and tamper-proof properties is estimated to augment the demand in the market.
FMI reveals that Europe is estimated to exhibit growth at a rapid CAGR in the PET syrup bottle market during the forecast period 2022 to 2032.
Prominent players in the market are focusing on introducing novel plastic packaging solutions for liquid products to capitalize on the surging demand.
For instance, in January 2022, Berry M&H, a leading manufacturer & supplier of plastic packaging announced introducing a new 250nm PET syrup bottle that can be used for packaging a variety of syrups, sauces, fruit mixes, liqueurs, and others. A slew of such new product launches is anticipated to augment the growth in the Europe market.
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Some of the leading players in the PET syrup bottle market are Amcor Limited, Gerresheimer AG, All American Containers, Alpha Packaging, PET Power (RPC Group), PontEurope, Berry M&H, Graham Packaging Company, and others.
Key participants are focusing at adopting strategies such as new product launch, collaboration, partnership, mergers, and acquisitions to gain edge in the highly competitive PET syrup bottle market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 9% to 10% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Shape, Capacity, End Use, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Companies Profiled | Amcor Limited; Gerresheimer AG; All American Containers; Alpha Packaging; PET Power (RPC Group); PontEurope; Berry M&H; Graham Packaging Company; Others |
| Customization | Available Upon Request |
FMI projects the demand for PET syrup bottle market to expand at rapid value CAGR of 9% to 10 over the forecast period 2022 to 2032
The scleroglucan market is PET syrup bottle by South Asia, and this trend is projected to continue for the assessment period.
Amcor Limited, Gerresheimer AG, All American Containers, Alpha Packaging, PET Power (RPC Group), PontEurope, Berry M&H, Graham Packaging Company, and others are some key PET syrup bottle manufacturer.
| Market Size (2023) | USD 113.6 billion |
|---|---|
| Market Size (2033) | USD 188.7 billion |
| Market Value CAGR (2023 to 2033) | 5.2% |
| Anticipated Market Value in 2022 | USD 8.3 Billion |
|---|---|
| Expected Market Value in 2032 | USD 12.3 Billion |
| CAGR (2022 to 2032) | 4% |
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PET Syrup Bottle Market
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