PET is the most recycled plastic packaging material in Europe. The Europe PET Bottle Market is estimated to witness a rise in its revenue from US$ 9,067.7 Mn in 2021 to US$ 10,630.9 Mn by 2027. The market is registering a CAGR of 2.7% over the forecast period 2022-2027. In terms of volume, the market is registering a CAGR of 1.8% during the projection period. PET (Polyethylene Terephthalate) was first developed for use in synthetic fibers by British Calico Printers in 1941. Although originally produced for fibers, PET began to be used for packaging films in the mid-1960s and then, in the early 1970s, the technique for blowing bi-axially oriented bottles was commercially developed. Since then, PET plastic bottle is the most widely used packaging material. PET is used in the packaging of carbonated drinks, medicine bottles, bottled water, cosmetics, nuts, candy, and other products. PET bottles are globally recognized as safe, non-toxic, strong, lightweight, flexible and 100% recyclable.
The market is majorly driven by factors such as increasing demand from bottled-water industry, rising demand from cosmetic industry, and altering food & beverage patterns of consumers. The rising demand for bottled water is credited to consumers' propensity for specifically demanding high-quality drinking water, the fear of diseases as an aftermath of drinking polluted tap water, and the ease of portability and convenience provided by bottled water. Further, the changing style of packaging, innovative package designs, and increasing demand for cosmetics due to the growing youth population are the factors responsible for the growth of PET bottle in cosmetic packaging industry. Moreover, the altering food and beverage patterns of consumers is propelling the market growth as due to hectic lifestyles consumers are opting for on-the-go beverages. PET bottles are safe for food and beverage and are extremely lightweight, simple to transport and are shatter resistant. On the other hand, the environmental concerns regarding the use of plastics are expected to hinder market growth over the forecast period.
Key Insights of the Report:
Key Takeaways from the Europe PET Bottle Market Report:
Competitive Insight
The key players in the Europe PET Bottle Market are Plastipak Holdings Inc., RETAL Industries Ltd., ALPLA Werke Alwin Lehner GmbH & Co KG, and Resilux NV among others.
Segmentation Overview
The following are the different segments of the Europe PET Bottle Market:
By Form segment of the Europe PET Bottle Market is sub-segmented into:
By Color segment of the Europe PET Bottle Market is sub-segmented into:
By Resin Type segment of the Europe PET Bottle Market is sub-segmented into:
By Technology segment of the Europe PET Bottle Market is sub-segmented into:
By Capacity (Volume) segment of the Europe PET Bottle Market is sub-segmented into:
By Application segment of the Europe PET Bottle Market is sub-segmented into:
By Distribution Channel segment of the Europe PET Bottle Market is sub-segmented into:
By Country segment of the Europe PET Bottle Market is sub-segmented into:
PET bottles are safe, non-toxic, strong, lightweight, flexible and 100% recyclable bottles.
PET bottles are used in the application of beverages, personal care, consumer goods and others.
The Europe PET Bottle Market was valued at US$ 9,067.7 in 2021.
The Europe PET Bottle Market is estimated to expand at a CAGR of 2.7% over the forecast period.
The market is majorly driven by factors such as increasing demand from bottled-water industry, rising demand from cosmetic industry, and altering food & beverage patterns of consumers.
The environmental concerns regarding the use of plastics are expected to hinder market growth over the forecast period.
Rising demand from pharmaceutical sector is expected to provide a lucrative opportunity for market growth.
Crystalline PET holds the highest share in the Europe PET Bottle Market.
Extrusion blow molding technology type dominates the market in 2021.
Beverages holds the highest share in the Europe PET Bottle Market.
UK dominates the Europe PET Bottle Market.
The key players in the Europe PET Bottle Market are Plastipak Holdings Inc., Retal Industries Ltd., ALPLA Werke Alwin Lehner GmbH & Co KG, and Resilux NV among others.