by The Pet Bottles Market is estimated to be valued at US$ 2.52 Bn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Pet bottles are lightweight plastic bottles primarily used for packaging beverages, food items, personal care products and pharmaceutical products. They are durable, easy to carry, resealable and provide long shelf life to products. Pet bottles have gained widespread popularity for packaging several on-the-go consumables like juices, sodas, shampoos, lotions etc. due to properties like moisture and gas barrier abilities.
Market Dynamics:
Increasing demand for on-the-go consumables: Busy lifestyles and hectic schedules have driven the demand for portable packaging solutions. Pet bottles have emerged as ideal packaging for on-the-go consumption of beverages, snacks and personal care products. Their lightweight and resealable nature supports convenient carrying of products anywhere. This growing demand for on-the-go packaging is expected to drive the pet bottles market over the forecast period.
Rising health and wellness trend: The increasing consumer awareness about benefits of healthy diet and personal care has boosted demand for bottled water, juices, supplements and skincare/haircare products. Pet plastic provides excellent barrier protection to nutrients, vitamins and active ingredients in these products. This rising health and wellness trend among consumers will likely propel the pet bottles market in coming years.
Segment Analysis
The pet bottles market is segmented into plastic and glass. Plastic bottles dominate the market with over 65% share owing to their lightweight properties. Plastic bottles are affordable, durable and do not break easily making them suitable for on-the-go consumption.
PEST Analysis
Political: Regulations promoting recycling and reuse have supported market growth. Economic: Rising disposable incomes and growing adoption of packaged beverages have increased demand. Social: Changing lifestyles and preference for portable packaging are key factors. Technological: Developments in plastic molding techniques have enhanced durability while reducing plastic usage.
Key Takeaways
The global Pet Bottles Market Share is expected to witness high growth, exhibiting CAGR of 3.8% over the forecast period, due to increasing consumption of packaged beverages and juices. Asia Pacific is the fastest growing region due to rising middle class population and their higher spending on health drinks.
The global pet bottles market size for 2023 is US$ 2.52 Bn. Asia Pacific dominates the market with around 45% share owing to high consumption in countries like China and India. Western Europe is another major market driven by demand from Germany, UK and Italy.
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. These companies are focusing on developing lightweight bottles using recycled content to meet sustainability goals.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
