Food, beverages, personal care, home care and pharmaceuticals form key industries in a variety of end-use industries with the largest packaging applications in the Pet Preform market. In addition, other industries have generated a large demand for PET preforms, including agriculture, chemicals and automobiles. The beverage industry is further subdivided into bottled water, carbonated beverages, RTD tea, juices, sports drinks, RTD coffee, alcoholic beverages and other soft drinks. Although the market is expected to maintain steady growth due to the growth of beverage consumption, the improvement of people’s health awareness in developed regions may still hinder market growth. However, demand for PET preforms in developed regions will continue to grow due to continued consumption of bottled water.
The beverage industry remains the key end user with the largest revenue share
According to recent market assessments, the PET preform market is expected to be dominated by the beverage industry for end users. It is estimated that by the end of 2028, the market value of this market segment will exceed 22 billion US dollars, and the compound annual growth rate during the forecast period is 4.4%. However, in terms of growth rate, it is expected that the compound annual growth rate of the food sector will remain around 5.5% during the forecast period. According to reports, the personal care industry will also have a profitable share in the market.
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More and more use of ready-to-eat beverages and single-serve beverages in the PET preform market
PET packaging is an economical packaging solution that makes it a clear choice for beverage packaging manufacturers. The growth of the PET preform market is associated with increased consumption of convenient (mobile) food and beverage products in developed and developing countries, such as carbonated soft drinks, RTD tea, coffee and juice. Despite the growing health awareness of consumers in developed countries, the consumption rate of carbonated beverages is still high, and the trend of single-serve beverages is growing. A single RTD coffee did not exist a few years ago, but currently only accounts for more than 30% of total sales in US grocery stores. The single-serve coffee market in the United States has been growing at an alarming rate for several years after the product was launched, and will continue to stimulate US demand for PET preforms in the near future.
China Pet Bottle manufacturers have been focusing on the development of lightweight preforms without compromising quality. Reducing the weight of the preform involves the redesign of the packaging material, which helps the packaging company reduce transportation costs.