Mini bottle recycling highlights an impactful trend in the global market for PET preforms, establishing a promising growth outlook for the upcoming decade.
Did you know that over 500 billion PET bottles are being used globally, for packaging an extensive range of end-use products? Besides proliferating consumption of carbonated soft drinks and non-carbonated beverages, mineral water, and processed food and liquor; the demand for chemicals and pharmaceuticals, and cosmetics and home/personal care products is also rising since the past decade. These applications are predominantly responsible for generating constant demand for PET preforms, according to a recent research performed by Persistence Market Research, on the global market for PET preforms, more popularly known as mini bottles. Moreover, agricultural and automotive industries also seem to be raising considerable demand for PET preforms, which identified to be another key factor driving the sales of PET preforms worldwide.
Beverages and Bottled Water Account for the Highest Demand
Of the global market value of nearly US$ 25 Bn estimated for 2028, the beverage segment is expected to contribute a highly lucrative share around US$ 22 Bn. Food and personal care are also identified to be the next significant end-use segments in the global market for PET preforms.
Owing to soaring bottled water and beverage consumption, the beverage industry is likely to remain the top end-user of PET preforms. Bottled water sales will especially remain high in developed regional markets. Other beverage segments fueling revenues of the global PET preforms sales, include fruit juices and soft drinks, sports drinks, RTD tea and coffee, spirits, oil, milk, and flavored dairy drinks.
Booming Popularity of RTD & Single-serve Drinks Creates a Heap of Opportunities
Surging consumer preference for convenient, ready-to-drink (RTD) beverage products for on-the-go consumption will significantly push the market up in next few years. The industry has been witnessing a growing trend of single-serve drinks, which is foreseen to be another major product driving the sales of PET preforms in the next decade. The US market has been prominently experiencing flourishing scenario for single-serve RTD coffee.
Will Plastic Mini Bottles Recycling Ameliorate Market Performance?
Beverage manufacturers perceive PET packaging as an economical packaging solution over conventional ones. Moreover, PET preform manufactures are concentrating more on designing and developing top-notch quality lightweight preforms, as reduced weight of bottle preforms tends to curtail the overall cost of transportation. The evident downfall of glass bottles is creating a robustly thriving market for plastic mini bottles, as a convenient, economical, and logistically safe packaging solution. However, growing environmental concerns are likely to limit their adoption in the next decade to a certain extent.
In a bid to mitigate for the environmental concerns and PET preforms market scenario, the emergence of a promising trend of recycled plastic PET preforms will reportedly play a pivotal role. Using recycled material in manufacturing mini bottled drastically reduces the overall production costs, and as a major portion of the total production costs is contributed by the material used in bottle making, recycling plastic holds immense importance here. Several recycling companies have already started with recycling used-up PET preforms at their bottle-to-bottle recycling plants, directing the growth of the global PET preforms market in a sustainable way.
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