Covid-19 Impact On Recycled PET Market Research Report 2020-2030.

The recycled PET Market is benefiting from the increasing consumption of packaged food products and carbonated and non-carbonated drinks across the world. This trend is particularly being witnessed more in the developing economies of East Asia and South Asia. Moreover, consistent adoption of an extensive range of recycled PET packaging solutions such as clamshells & containers, bottles & jars, and other solutions in these regions in recent years has been noted. Rapid penetration of food, beverage, and healthcare industries, which show a high preference towards recyclable and sustainable packaging solutions, has led to the remarkable demand for recycled PET packaging solutions in these regions.

On the back of these factors, the global recycled PET market is projected to register an impressive CAGR of 6.5% over the forecast period of 2019-2029.

“Prominent manufacturers in the recycled PET market can gain substantial profits by focusing on developing economies in East and South Asia, such as China and India. Additionally, as key industries are inclined towards the adoption of sustainable packaging solutions, the demand for recycled PET packaging solutions is estimated to substantially increase in the foreseeable future.”

Recycled PET Market
Recycled PET

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Key Takeaways from Recycled PET Market Study

  • The bottles & jars segment is experiencing unmatchable demand in the recycled PET Market, especially from the beverage industry. This is attributable to the fact that, bottles & jars offer precise packaging, high impact capability, and pricing affordability to end users.
  • Prominent packaging manufacturers are adopting stretch blow molding technology to design and manufacture a wide variety of recycled PET packaging solutions, as this technology offers high output quantities and fine dimensional accuracy.
  • The beverage industry has been identified as the key end user of recycled PET packaging solutions, as this sector generates constant demand for recycled PET packaging bottles & jars for packing and storing drinking water as well as carbonated and non-carbonated drinks.

Recycled PET Market: Competition Landscape

Leading packaging manufacturers across continents have shifted their focus from conventional packaging solutions to environment-friendly rigid and flexible packaging solutions. This notable shift towards eco-friendly packaging solutions is majorly driven by increasing focus on reducing unnecessary plastic waste and high customer preference towards sustainable and eco-friendly packaging solutions over conventional ones. Polyethylene terephthalate (PET) is a safe, robust, and transparent plastic material that can be recycled several times. To gain the most benefits from this scenario, leading packaging manufacturers are focusing on offering a wide range of recycled PET packaging products.

  • In November 2019, Berry Global Group, Inc, one of the leading packaging solution manufacturers, introduced Verdant PCR bottles, RPET bottles, tubes, jars, and closures for beauty and personal care products.
  • In November 2019, ALPLA Werke Alwin Lehner GmbH & Co KG launched 100 % recycled PET packaging bottles that are specially designed for the dairy industry.
  • In November 2019, ALPLA Werke Alwin Lehner GmbH & Co KG acquired SUMINCO S.A. and REPLACAL S.L. to expand its recycling activities.

FREQUENTLY ASKED QUESTIONS ABOUT RECYCLED PET MARKET

How will the recycled PET market fare in the future?

The global recycled PET market is anticipated to grow at a steady pace over the next ten years. The global recycled PET market was valued at US$ 2.4 Bn in 2018, and is estimated to reach US$ 4.7 Bn by 2029.

What are the key factors shaping the dynamics of the recycled PET market?

Shifting inclination of consumers towards highly sustainable and recyclable packaging solutions is fueling the growth of the recycled PET market to a significant extent. Moreover, consistently rising consumption of a wide variety of carbonated and non-carbonated drinks creates a massive demand for PET bottles, which ultimately supports the growth of the recycled PET market.

Which end-use industries hold high growth prospects for manufacturers?

The beverage industry is projected to account for the lion’s share of the recycled PET market, and is also anticipated to remain the most lucrative sector throughout the forecast period. Furthermore, it is estimated to generate an impressive incremental opportunity over the next decade, as the demand for eco-friendly water bottles is on the rise.

Which regions are expected to lead in terms of global sales of recycled PET solutions?

In terms of sales and market growth, South and East Asia are projected to hold a substantial share of the global recycled PET market throughout the forecast period, expanding a striking CAGR over the forecast period.

Which recycled PET solutions will provide the most gratifying opportunities over the next five years?

The bottles & jars segment is anticipated to be the most promising throughout the forecast period. Rising demand for recycled PET bottles and jars, owing to the affordable pricing and highly sustainable outlook, is estimated to bolster market growth significantly.

Which companies are investing significantly in the development of innovative products?

Prominent recycled PET manufacturers such as Berry Global Group, Inc., ALPLA Werke Alwin Lehner GmbH & Co KG, Indorama Ventures Public Co., Ltd, and Sonoco Products Company are significantly investing in designing and manufacturing environment-friendly recycled PET solutions.

RECYCLED PET MARKET TAXONOMY

The global recycled PET market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.

Product

  • Bottles & Jars
  • Clamshells & Containers
  • Trays & Punnets
  • Pouches
  • Others (Cups, Bowls, etc.)

Technology

  • Stretch Blow Molding
  • Injection Molding
  • Extrusion Blow Molding
  • Thermoforming

End Use

  • Beverages
    • Bottled Water
    • Soft Drinks
    • Juices
    • Other Beverages
  • Food
  • Pharmaceuticals & Healthcare
  • Homecare & Personal Care
  • Electricals & Electronics
  • Chemicals & Electronics
  • Others

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • MEA

About Recycled PET Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global recycled PET market, analyzing historical demand from 2014-2018 and forecast statistics for 2019-2029. The report provides growth projections of the recycled PET market on the basis of product (bottles & jars, clamshells & containers, trays & punnets, pouches, and others {cups, bows, etc.}), technology (stretch blow molding, injection molding, extrusion blow molding, and thermoforming), and end use (beverages, food, pharmaceuticals & healthcare, homecare & personal care, electricals & electronics, chemicals & petrochemicals, and others), across seven major regions. Furthermore, the scope of the report focuses on recycled PET consumed in the packaging industry.

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