Market Dynamics:
Rising demand for packaged beverages and food products is driving the growth of the PET bottles market. With rapid urbanization and changing lifestyles, demand for packaged foods and drinks is increasing significantly. PET bottles offer convenient and lightweight packaging solution for on-the-go consumption of beverages and foods. Furthermore, key players are introducing innovative packaging solutions such as customized PET bottles for varied consumer needs which is further augmenting the market growth. However, ban on PET bottles in some countries due to environmental concerns may hamper the market growth.


Key Takeaways

Global PET Bottles Market Demand is expected to witness high growth at a CAGR of 3.8% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 2.52 Billion by 2023.

Regional analysis: Asia Pacific region dominates the PET Bottles market with around 40% value share. China, India, Japan and other Southeast Asian countries have high consumption of packaged food and beverages driving the demand for PET bottles in the region. North America and Europe are other major markets expected to grow at a moderate pace during the forecast years owing to developed food packaging industry.

Key players: Key players operating in the PET Bottles market are Berry Plastics Group Inc., GTX Hanex Plastic Sp. Z O.O., Gerresheimer AG, Graham Packaging Company, RPC Group, Rexam PLC, Silgan Holdings, WestRock, Exo Packaging, Alpha Group, and Crown Holdings. Berry Plastics Group Inc. is the global leader with around 15% market share in 2021 on back of strong product portfolio and strategic acquisitions. Other players are focusing on new product development, mergers & acquisitions for business expansion.

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