PET Containers Market Report

The rise in personal care products is fuelling the demand for PET containers in the market. According to The India Brand Equity Foundation, the global cosmetic market is expected to reach the benchmark of US$ 450 billion by 2025, where the compound annual growth rate is expected to be 4.3%. Also, according to Cosmetic Europe, the European market is considered a flagship market for personal care products, where the sale of personal care products amounts to US$104 million, making it the largest market for personal care products. Thus, the rising personal care market and cosmetic market have a great impact on the PET container market. Also, the use of PET containers in consumer goods can be considered a major driver, as consumer-packaged goods majorly involve PET containers. According to SelectUSA, the demand for the consumer goods market in the US in 2019 was the largest in the world and was accounted for at US$ 635 billion. It is expected to grow at a steady rate and is expected to read the mark of US$ 900 billion, which in turn helps the PET container market grow.

The major challenge that is faced by the PET container manufacturer is the awareness regarding environmental concerns and concerns regarding the after-use of the container. As the container is made from PET, after the use of the product, the container directly lands in landfills, which increases pollution and affects the environment in general; hence, due to this drawback, the use of PET bottles is diminishing. For example, Australia’s New South Wales town of Bundanoon became the first town in the world to ban the use of bottled water.

Also, PET containers have the drawback that they are vulnerable to high temperatures. This problem is faced by various users as the product that they are likely to insert in PET container needs to be cooled down first and then needs to be inserted in the container, which limits the market size of the PET container, and due to any mishaps, the container may end up in landfills, which indirectly contributes to the pollution and affects the environment compared to its alternatives such as stainless steel, glass, plant-based plastics, etc., which don't pollute the environment as well as can hold an immense amount of temperature compared to PET containers acts as a restraining factor for PET containers market.

In September 2021, Huhtamaki acquired a major supplier of sustainable flexible packaging to global brand owners named Elif. Elif Holding A.Ş. (Elif), with operations in Turkey and Egypt, became a part of Huhtamaki. This acquisition further solidified Huhtamaki's position as a leading flexible packaging company in emerging markets and strengthened its existing flexible packaging business in attractive consumer product categories. In November 2020, Amcor adapted its world-class engineering and design technology to develop the lightest 900-ml polyethylene terephthalate bottle for edible oil in Brazil. The customized design for agribusiness and food producer Bunge, was 22% lighter than competitive bottles while providing greater productivity and increased sustainability benefits.

For PET containers, Europe can be considered a lucrative market due to the rising beverage industry and the demand for soft drinks and carbonated drinks. The demand for the beverage industry in the United Kingdom has experienced steady growth, and according to the data of the Department for Business and Trade, the food and drink industry is considered the biggest sector in the country. The turnover of the food and drink sector in the United Kingdom amounted to US$ 113.9 billion. Also, according to the UN Comtrade statistics, Hungary's imports of non-alcoholic drinks in 2022 amounted to US$189 million, which was the highest in Hungary’s history.

The Asia Pacific market is also considered a promising market due to its increase in the use of ready-to-eat food. According to the data of the International Journal of Business, Management & Economics, India is expected to be a significant contributor to the global ready-to-eat sector. According to the forecast, the country is going to experience a compound annual growth rate of approximately 17%–19%, which amounts to US$ 655 million by 2025. Thus, making a promising market for ready-to-eat food indirectly fuels the PET container market.