PET Preforms Market to Reach US$24.9 billion by 2027 : IndustryARC

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Increased PET preforms demands in the cosmetic & personal care sector for innovative packaging, which has positively impacted the growth PET Preforms Market.

HYDERABAD, TELANGANA, INDIA, February 10, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The PET Preforms Market size is estimated to reach US$24.9 billion by 2027 after growing at a CAGR of 3.8% during the forecast period of 2022-2027. PET (polyethylene terephthalate) Preforms are products derived from polyamide namely polyethylene terephthalate which is a mixture of ethylene glycol and purified terephthalic acid. The preforms are mainly used for manufacturing bottles and containers which are used for packaging pharmaceutical, cosmetics products and food & beverage items such as carbonated drinks, mineral water and ready-to-drink items such as juices & soft drinks. High demand for PET preforms in packaging applications in food & beverage, medical & pharmaceutical and cosmetic & personal care sectors is driving the PET preforms industry. Factors such as high demand for beverages, bolstering the growth of the cosmetic & personal care sector and an increase in the sale of medicine have provided growth opportunities to the PET preforms market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/PET-Preforms-Market-Research-500253


Key takeaways:

This IndustryARC report on the PET Preforms Market highlights the following areas -

1. Asia-Pacific dominates the PET Preforms industry on account of the rapidly growing food & beverage and cosmetic & personal care sectors which are significantly influencing the market growth in the region.

2. High-performance properties provided PET Preforms in comparison with conventional packaging materials such as glass and metals are driving the market demand, thereby positively impacting the PET preforms industry outlook.

3. The growing shift towards sustainable packaging solutions reduces the usage of PET Preforms which can negatively impact the PET Preforms market size during the forecast period.


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Segmental Analysis:

1. PET Preforms have a high demand for manufacturing 500-1000ml capacity bottles as they are mainly used as packaging products in the food & beverage sector for ready-to-drink items such as juices and carbonated drinks items such as soft drinks.

2. Asia-Pacific held the largest share in the PET Preforms market share in 2021 up to 43%. The strong growth of PET Preforms in the region is influenced by its flourishing demand from major sectors such as food & beverages and cosmetics & personal care for packaging applications.

3. According to the first quarter results of Coca-Cola, in 2022, the sparkling soft drinks segment of the company grew by 7% driven by high sales seen in Europe, Middle East & Africa and Latin America. With the robust growth in consumption of beverage items, the demand for PET preforms for packaging applications is also anticipated to increase, resulting in the positive market growth in the food & beverage sector during the forecast period.

Competitive Landscape:

The top 5 players in the PET Preforms Industry are -

1. Retal Industries Ltd.
2. Sidel S.A
3. Plastipak Holdings Inc.
4. Societe Generale des Techniques
5. ALPLA Werke Alwin L.

Click on the following link to buy the PET Preforms Market Report:
https://www.industryarc.com/reports/request-quote?id=500253

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IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.


Related Reports:

A. Amorphous Polyethylene Terephthalate Market
https://www.industryarc.com/Report/15534/amorphous-pet-market.html

B. Container Glass Market
https://www.industryarc.com/Report/15883/container-glass-market.html


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