Sugarcane Based PET Bottles Market: Overview
Sugarcane based bottle is the biopolymer packaging solution which is manufactured from bagasse, the fibrous material left behind after extracting sugarcane juice. These bottles are recognized as ‘Green Polyethylene bottles’ which has zero harmful impact on the environment. The sugarcane is effectively capturing CO2 i.e., 1 kilogram of green plastic helps to remove approximately 3.09 kilograms of CO2 from the air.
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As the sugarcane based PET bottles are Bisphenol A (BPA) free, the demand for these bottles is consistently increasing across the world. The market of sugarcane based PET bottles is dynamic. With the technological advancement, key players are focussing on the manufacturing of non-toxic, and high strength sugarcane based PET bottles. These PET bottles consist of high resistance to breakage, hence increasing preference for sugarcane based PET bottles by the end-user is observed during transportation.
The demand for a safe and hygienic packaging solution for juice, milk, and other household products will lead to an exponential growth of sugarcane based PET bottles market during the forecast period.
Sugarcane Based PET Bottles Market: Dynamics
The driving forces for boosting the growth of sugarcane based PET bottles are fluctuating price of crude oil and high resistance to breakage. Additionally, the key factor responsible for increasing the demand of sugarcane based PET bottles is the increasing awareness about the negative impact of non-degradable plastic on the environment. Growing preference of sugarcane based PET bottles is witness among the end-users, as it is easily recyclable, and no carbon footprints are released in the environment.
The sugarcane based PET bottles market in increasing on the backdrops of increasing food and beverages sector. Leading beverages suppliers such as Coca-Cola are using sugarcane based PET bottles for packaging. About 30% of coke bottles in North America are manufactured from sugarcane. Besides this, increasing consumption of packed mineral water also creating lucrative opportunities for sugarcane based PET bottles market.
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To reduce pollution, many key players have started investing in finding an alternate solution for single-use plastic. Along with this, key regulations on plastic use and food contact material are responsible for new opportunities for the growth of sugarcane based PET bottles. For instance, the ban of ‘White Pollutant’ such as thermocol, and plastics in China results in a new market development of biodegradable sugarcane based PET bottles in the Asia Pacific.
Sugarcane Based PET Bottles Market: Regional Overview
The global market of sugarcane based PET bottles is lead by North America. It is witness that, the demand for sugarcane PET bottles is surging into the United States due to its strength and eco-friendly material source.
The demand for sugarcane based PET bottles is bolstering in Europe due to government regulations for using non degradable single-use plastics bottles. Lucrative opportunities for sugarcane based PET bottles market are expected in developed markets such as France and the U.K. In Latin America, Brazil is a mature market where steady growth for sugarcane based PET bottles is expected. On the other side, Mexico is the emerging market and exponential growth of the sugarcane based PET bottles market is estimated. In the Middle East and Africa region moderate growth for sugarcane based PET bottles is observed.
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Sugarcane Based PET Bottles Market: Key Players
The key players of sugarcane based PET bottles market are given below:
- Raepak Ltd.
- Maynard & Harris Plastics – RPC Group
- Kaufman Container
- VeganBottle
- Pretium Packaging
Owing to the increasing demand among consumers and the benefits of using biodegradable PET bottles, it is witness that many new players are entering the market. This includes startups, small and medium scale industries, and other key players which contributes to significant revenue generation in the global market.
The sugarcane based PET bottles market is segmented on the basis of product type, material, capacity, and end use, which is as follows:
On the basis of Product Type, the market is segmented as:
- Flat Base
- Tubular
- Spherical
- Others
On the basis of Material, the market is segmented as:
- Sugar
- Molasses
On the basis of Capacity, the market is segmented as:
- Less than 50 ml
- 51 ml to 100 ml
- 100 ml to 250 ml
- More than 250 ml
On the basis of End Use, the market is segmented as:
- Food and beverages
- Automotive
- Pharmaceutical and Healthcare
- Cosmetics
- Others (FMCG)