The Europe PET Bottle Market held a market value of USD 9,067.7 Million in 2021 and is forecasted to reach USD 10,630.9 Million by the year 2027. The market is anticipated to register a CAGR of 2.7% during the projected period. The market experienced a volume of about 136.4 billion units.
PET bottles are bottles made of polyethylene terephthalate, which is a type of polyester. The market is expected to be driven owing to the increasing demand from bottled water industry and the cosmetic industry. Furthermore, the rising trend of westernization and altering food and beverage patterns of consumers is also anticipated to fuel the market growth. However, environmental concerns regarding the use of plastics are anticipated to restrain the market growth. Fluctuations in raw material prices coupled with lack of effective infrastructure facilities for recycling are also estimated to negatively impact the market growth. Get a Free Sample PDF Copy: – https://www.astuteanalytica.com/request-sample/europe-pet-bottle-market
Increasing demand from bottled water industry The demand for PET bottles in the bottled water industry is growing owing to various advantages of polyethylene terephthalate. These advantages include high durability and breakage resistant as compared to other materials. Moreover, PET is very flexible and can be molded into any shape and color, which also boosts the market growth. All these advantages are expected to boost the market growth. Rising demand from cosmetic industry The demand for PET bottles is increasing in the cosmetic industry majorly because of their recyclable nature. This is because of the high demand for sustainable beauty products in Europe. Furthermore, they can be made into any color and shape which is required in the cosmetic industry because attractive packaging is required for marketing and selling of the cosmetic products. All these factors are anticipated to boost the market growth.
The Europe PET Bottle market is segmented based on the form, color, resin type, technology, capacity (volume), application, and distribution channel.
The amorphous PET segment is expected be the fastest growing volume segment with a CAGR of 2.5% owing to its increasing usage in packaging of beverages and food items. Also, this type of PET offers high stiffness and strength, hence boosting the market growth.
The colored segment is anticipated to hold the largest market share of around 58% owing to its increasing demand in the cosmetic industry. The transparent segment is also expected to grow significantly owing to its high usage in the bottled water industry.
The recycled segment is estimated to cross a market volume of around 46 billion units by 2025 owing to growing adoption of recyclable bottles in across various industries due to high demand for sustainable materials.
The extrusion blow molding segment is expected to hold the largest market share. This is because the technology is increasingly adopted as it is easy to use. The stretch blow molding segment is anticipated to grow at the fastest CAGR owing to its rising demand for production of bottled water and juices.
The up to 500 ml segment is estimated to surpass a market volume of 31.2 billion units by 2026 owing to its high demand in the personal care and beverages industry. The more than 2000 ml segment is expected to witness a market volume CAGR of about 2.1%. Download Sample Report, SPECIAL OFFER (Avail an Up-to 30% discount on this report- https://www.astuteanalytica.com/request-sample/europe-pet-bottle-market
The beverages segment is expected to account for the largest market share of around 70% owing to high demand for PET bottles in packaged water and juice industry. Within this segment, the packaged water segment is expected to witness a CAGR of 3.3%. Within the personal care segment, the body fragrance segment is anticipated to surpass a market volume size of around 1.4 billion units by 2027.
The business to business segment is anticipated to hold the largest market share. The retail segment is expected to witness the fastest growth rate. The online and convenience stores segment is estimated to witness significant growth rates during the forecast period.
Based on region, the Europe PET Bottle market is divided into Western Europe and Eastern Europe. The Western Europe region is anticipated to hold the largest market share owing to the presence of major market players in the region and presence of various manufacturing facilities in the region. The region is divided into the UK, Germany, France, Italy, Spain, and Rest of Western Europe. Italy is anticipated to cross a market volume size of 15.1 billion units by 2027. The Eastern Europe region is divided into Poland, Russia, and Rest of Eastern Europe. Russia is estimated to witness a CAGR of 2.2% over the forecast period.
Key players operating in the Europe PET Bottle market include Alpack Plastics, Alpha Packaging, Amcor Limited, BERICAP GmbH & Co. KG, Berry Global, Inc, CarbonLITE Industries, Clear Path Recycling, Constar Internationals, Inc., Container Corporation of Canada, Cospack America Corporation, Graham Packaging Company Inc., Indorama Ventures Public Company Limited, Krones Ag, Ontario Plastic Container Producers Ltd., PFR Nord GmbH, Phoenix Technologies, Plastipak Holdings, Inc., PolyQuest, Resilux NV, Rexam, Inc., Schoeller Group, and UltrePET, LLC, among others. The cumulative market share of the 5 major players is close to 58%. These market players are involved in collaborations, mergers & acquisitions, and new product launches to strengthen their market presence. For instance, in April 2021, Alpha Packaging acquired Boxmore Plastics Limited, an Ireland based company. With this acquisition, the company strengthened its presence in the European market.
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