Asia Pacific PET Bottle Market Outlook
According to the report by Expert Market Research (EMR), the Asia Pacific PET bottle market size is projected to grow at a CAGR of 4.6% between 2023 and 2028. Aided by the escalating demand for cost-effective and lightweight packaging solutions and the growing applications of PET bottles in various industries, the market is expected to grow significantly by 2028.
Polyethylene Terephthalate (PET) is a type of polyester widely used in the production of plastic bottles. PET bottles are recognised for their robustness, lightness, and resistance to water, providing a favourable packaging solution for industries such as food and beverage, pharmaceutical, personal care, and household goods. They play a significant role in maintaining product quality, enhancing shelf life, and facilitating convenient handling and transportation.
The rising consumer preference for lightweight and durable packaging is driving the Asia Pacific PET bottle market growth. With growing awareness about the benefits associated with PET bottles, including product safety and convenience, there has been a significant shift towards PET-based packaging solutions. The thriving food and beverage industry in the region, which requires efficient packaging materials, has also significantly contributed to the demand for PET bottles.
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The expanding applications of PET bottles in various industries are instrumental in propelling the Asia Pacific PET bottle market development. In the pharmaceutical industry, PET bottles are used for packaging tablets, syrups, and capsules, providing protection against moisture and maintaining product stability. The personal care and cosmetics industry utilises PET bottles for packaging various products like shampoos, conditioners, lotions, and creams, benefiting from their durability and aesthetic appeal. Furthermore, PET bottles are critical components in the packaging of various household goods, including detergents and cleaning liquids, thus increasing the Asia Pacific PET bottle market demand.
Furthermore, the growing focus on sustainability in the packaging industry has led to increased attention on PET bottles as they are fully recyclable. With the rise in environmental consciousness and the increasing popularity of sustainable packaging solutions, PET has emerged as a critical component in the circular economy. Innovations in PET recycling technologies are expected to boost the Asia Pacific PET bottle market expansion.
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Asia Pacific PET Bottle Market Segmentation
The market can be divided based on technology, application, and country.
Market Breakup by Technology
- Stretch Blow Moulding
- Injection Moulding
- Extrusion Blow Moulding
Market Breakup by Application
- Packaged Water
- Carbonated Soft Drinks
- Fruit Juice
- Alcoholic Beverages
- Personal Care
- Household Care
Market Breakup by Country
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Asia Pacific PET bottle companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Amcor Plc
- Berry Global Inc.
- Ningbo Jazz Packaging Co., Ltd.
- Manjushree Technopack Ltd.
- MD Group
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