PET Preforms Market to benefit with the increasing soft drink consumption
Posted by rohan on October 17th, 2019
PET performs Market Overview:
The global PET performs market is expected to increase from US$ 19.01 billion in 2018 to reach US$ 24.62 billion by 2023, rising at an annual growth rate of approximately 5.31%. The growth of consumption of soft drinks has supported this market growth. PET applications in medical devices, personal products and cosmetics are expected to lead the PET performs market.
The latest development supports the focus on making lighter and stronger bottles that meet the precise performance and sustainability objectives of brand owners. Retail has invested in state-of-the-art equipment at its plant near Pittsburg, allowing the leading packaging manufacturer to supply preforms that use recycled PET to create the glassy appearance of PET.
Nestlé has the rPET product, the North American company for the supply of confirmed pure water bottles.
Market Drivers and Restraints:
The increase in the consumption of soft drinks increases the demand for PET bottles, which contributes to the demand. PET products have different characteristics, such as lightweight and long durability. The comfortable handle makes the PET product widely used in the food and beverage industry. PET is used in the health and cosmetics industry with increasing packaging trends for various products. PET preforms are used as carbonated soft drinks, water, food, non-carbonated drinks, cosmetics and chemicals, pharmaceuticals and spirits, and others.
Consumer avoidance of high-sugar drinks with the growing awareness about health, and strict regulatory requirements for the use of plastic products and recycling equipment, and associated health risks slows down PET performs severely.
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Report segmented as
Geographically, the PET Preforms market is segmented as North America, South America, Europe, Middle East & Africa, and Asia-Pacific. North America leads the market for PET Preforms. Asia-Pacific region is predictable to increase the market in the coming period as there is high demand for PET Preforms in the emerging economic countries due to mounting population and rising nonrefundable income in China, Japan, and India.
Important Market Players:
Retail Industries Ltd., Plastipak Holdings Inc., Resilux NV, Alpha Works Alwin Lehner GmbH & Co. KG, Zhuhai Zhongfu Enterprise Co. Ltd., Indorama Ventures Public Company Limited, KOKSAN Pet Packaging Industry Co., Taiwan Hon Chuan Enterprise Co., Ltd., Raawasy AI Khaleej Plastic Ind.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
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About the Authorrohan
Joined: September 20th, 2017
Articles Posted: 1,346
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