PET Preforms Market is projected to grow at a CAGR of 3.9% during 2022 to 2032

ByNiranjan karde

The market for PET preforms is expected to increase at a CAGR of 3.9% from 2022 to 2032, reaching a value of US$ 22.28 billion. The market is now valued at US$ 15.2 billion.

By 2024, the market for PET preforms is anticipated to expand by 3.8%. To meet customer demand, a number of well-known industries, including food and beverage, personal care, pharmaceuticals, and home care, are producing enormous demand for PET preforms.

In order to reduce carbon footprint, a shift in the trend is seen with respect to PET bottles. Bottles made from recyclable material is gaining a lot of traction in the market. Leading players in the industry are opting for beverage bottles made from recycled-PET materials in order to achieve sustainability of raw materials.

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Additionally, this shift helps the companies improve their brand image in the eyes of the customers. Big players such as Coca Cola, Nestle and others proudly source a significant amount of its consumption from recycled materials.

Growing significance for sustainable packaging solutions with recyclable materials is driving the global PET preforms market. FMI offers a comprehensive overview of the market in its recent studies.

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Covid-19 impact

Covid 19 pandemic outbreak and the restrictions put forth because of it have impacted global PET preforms market heavily. The market is seeing a considerable decline in demand owing to lockdowns implemented across the world.

The spread of the novel corona virus across globe has disrupted supply chains, impacting packaging industry as well. As productions came to a standstill and transport became impossible due to lockdown restrictions, the industry suffered heavy losses.

Furthermore, shortage of raw materials and absence of labors and skilled workers from plants has aggravated the situation. Unfavorable market conditions, as consumer has become skeptical about his spending have added to the woes of the market.

However, the demand for PET preforms is expected to witness significant growth in the first quarter of 2021, as manufacturing activities resume and demand for PET preforms from end user industries restores to normal.

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Key Segments Covered in PET Preforms Industry Research

PET Preforms Market by Capacity:

  • Up to 500 ml
  • 500 ml to 1000 ml
  • 1000 ml to 2000 ml
  • More than 2000 ml

PET Preforms Market by Neck Type:

  • ROPP/BPV
  • PCO/BPF
  • Alaska/Bericap/Obrist
  • Others

PET Preforms Market by End-use:

  • Beverages
    • Bottled Water
    • Carbonated Drinks
    • RTD Tea & Coffee
    • Juice
    • Sports Drinks
    • Other Soft Drinks
    • Alcoholic Drinks
  • Food
  • Personal Care
  • Pharmaceuticals
  • Home Care
  • Others

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