Extensive Use in Beverage Bottling to Propel the PET Preforms Market Growth

Global PET Preforms Market: Key Highlights

• According to the new market research report “PET Preforms Market by Type (Standard PCO, Alaska / Three Start), by Application (Water Bottles, Carbonated Soft Drinks, Oil), by End-use Industries (Food & Beverage, Cosmetics), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2019 to 2027)”, the global PET preforms market is projected to reach a value of over USD 28.5 billion, registering a CAGR of 3% during the review period
• PET preforms are essentially products formulated by injection molding of polyethylene terephthalate
• These preforms are stiff, strong, dimensionally stable as well as water and chemical resistant
• However, regulations on single-use plastics is a key factor hampering the market growth
• Consumers preference towards bio-based packaging is likely to act as a major challenge for the global PET preforms market

Global PET Preforms Market: Key Market Dynamics

• Extensive use of PET preforms in the packaging of convenient beverages such as ready-to-drink coffee, tea, soft drinks, mineral water, etc. is a key driver of the global market
• Rising working population coupled with rising consumer concerns about sedentary diseases drive the demand for PET preforms
• Consumers are preferring energy drinks and sugar-free and low-sugar soft drink varieties, which leads to manufacturers incorporating value-adds like probiotics, functional ingredients and even animal proteins in the drinks
• Moreover, it is recyclable, lightweight, and non-reactive, which increase the product’s shelf life

• In addition to the above-mentioned applications, PET preforms is used in the cosmetics industry

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Global PET Preforms Market: Regional Overview

• North America

North America accounted for the largest market share in 2018 due to the high demand from the food & beverage industry. The high working population and luxurious lifestyle trend of the consumers in the region propel the demand for Pet preform market. The robust manufacturing base of global producers such as Tyson Foods Inc., PepsiCo Inc., Nestle, Coca Cola Company, and others in the US, is anticipated to promote the demand for plastic packaging.

• Asia-Pacific

Asia-Pacific emerged as the fastest-growing region for this market, mainly driven by the expanding end-use industries. Growth potential in countries such as India, Japan, China, others is propelling the market growth. In addition to this, PET preforms are used in the packaging of cosmetics products, which further drive global demand. Higher penetration of international cosmetics brands such as Revlon, Loreal, Mac, Bobbi Brown, and others is a key catalyst for market growth.

Global PET preforms Market: Key Players Overview

• SGT:

SGT specializes in plastic packaging for potable and other liquid. It operates 5 sites, produces over 5 billion preforms per year, and exports its products all over the world. In December 2018, the company invested approximately USD 24.05 million in its new production facility. This facility will manufacturer PET preforms and will be built in Eastern France.

• Esterform Ltd:

Esterform Ltd manufactures injection molded PET preforms, and stretch blow molded PET containers. In November 2019, the company entered in agreement with soft drinks producer Britvic, wherein Esterform Ltd will serve as a supplier of rPET in the UK and Ireland.

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