Asia Pacific PET Bottle Market Size, Share, Trends, Forecast: By Technology: Stretch Blow Moulding, Injection Moulding, Extrusion Blow Moulding, Thermoforming, Others; By Application: Beverages, Food, Personal Care, Household Care, Pharmaceuticals, Others; Regional Analysis; Competitive Landscape; Industry Events and Developments; 2024-2032

Asia Pacific PET Bottle Market Outlook

The Asia Pacific market size for PET Bottles reached a value of more than USD 15.21 billion in 2023. The Asia Pacific PET bottles market is expected to grow at a CAGR of 4.6% between 2024 and 2032, reaching a projected value of USD 22.83 billion by 2032.

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News and Developments in the Market

In July 2023, Amcor Rigid Packaging offered samples of spirits bottles created of recyclable polyethylene terephthalate. The new offering proposed by Amcor was developed to give buyers flexibility and freedom to explore new markets while gauging consumer interest.

In July 2023, McCormick, a United States-based food company partnered with the Berry Global plastic packaging company to expand its commitment to creating all of its packaging as recyclable or reusable. McCormick adopted PCR plastic bottles as they are expected to help in reducing carbon emissions as compared to bottles created from virgin materials.

In March 2023, the Berry Global Group partnered with Koa to unveil Body Cleanser & Body Moisturizer bottles which are created from 100% recycled plastic. Berry Global is an industry leader in sustainability which has focused on making a positive environmental impact through streamlined operations, constantly engaged partners, as well as optimised products, a vision shared by Koa.

In November 2021, Amcor Rigid Packaging announced technological advancements that are likely to enable more than a billion 50 mL spirits bottles to be crushed, captured, and recycled. Amcor Rigid Packaging is known for recycled packaging and is focused to look for ways to enhance the quantity of material for the recycling process, supporting the Asia Pacific PET bottles market.

Key Trends in the Market

PET or polyethylene terephthalate is the chemical name for a thermoplastic polymer. PET bottles are created from polyethylene terephthalate, a plastic resin that is a type of polyester made by blending two monomers, typically modified ethylene glycol and purified terephthalic acid. One of the inherent properties of PET bottles is that unlike other plastic containers, they are strong while still being lightweight. They are easy to handle, economical, transparent, impact resistant, convenient for on-the-go consumption needs, and are likely to be easily recycled without leaving any harmful residues.

• The growth of the Asia Pacific PET bottles market is driven by growing demand from the food and beverages industry on account of the easy handling of PET bottles for salad dressing, water, juices, household cleaners, soft drinks, oil, personal care products, and medicines.

• The surging industries like personal care and food and beverages in countries like India, and Japan are further expected to bolster the market demand for PET bottles in the region.

• The increasing demand for bottled beverages on account of the growing inclination for modernisation and changing consumer dietary patterns is further expected to drive the Asia Pacific PET bottles market.

• The rising disposable incomes especially in emerging economies like India are encouraging consumption of PET bottles. Hectic lifestyles of consumers have increased their likelihood of choosing on-the-go beverages. This is driving the market growth of PET bottles in the region.

Market Analysis

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Based on technology, the Asia Pacific PET bottles market can be segmented into stretch blow moulding, extrusion blow moulding, injection moulding, and thermoforming, among others. Based on the application, it can be categorised into beverages, food, personal care, household care, and pharmaceuticals, among others. The regional markets for the PET bottles market can be divided into China, Japan, India, ASEAN, and Australia.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Asia Pacific PET bottles market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Amcor plc

• Berry Global Inc.

• Ningbo Jazz Packaging Co.,Ltd.

• Visy

• Manjushree Technopack Ltd.

• MD Group

• Others

Market Share by Technology

The surging demand for lightweight packaging is driving the stretch blow moulding segment growth in the Asia Pacific PET bottles market. The extensive usage of stretch blow moulding in the manufacturing of products from small to high capacities is likely to support the market growth of PET bottles. Stretch blow moulding technology aids in producing high-quality bottles employed in various industries like personal care, and food and beverage, among others which further attracts manufacturers, and this has led to high demand for stretch blow moulding.

Blow moulding is a significant industrial process for making one-piece hollow plastic parts that are surrounded by thin walls, such as plastic soda bottles, water cans, and shampoo bottles, among others. The extrusion blow moulding technology includes multi-layer capability and has lower mould costs compared to injection blow moulding and has the capability of forming handles. This is expected to drive the growth of the extrusion blow moulding segment in the Asia Pacific PET bottles market.

Market Share by Application

The beverage segment is holding significant growth in the PET bottle market share due to the benefits of PET bottles. These include that they are produced at a lower cost, are transported with less energy, are safe, and convenient to use. This is fuelling the demand for PET bottles in the alcoholic beverage industry. PET is exceptionally lightweight, recyclable, adaptable, sustainable, and has several design options, unlike glass which is making it the preferred packaging material for various beverage enterprises.

Market Share by Region

Geographically, India is augmenting the growth of the Asia Pacific PET bottles market due to the increasing use of plastic and the growing recycling industry in the country. The growing urbanisation along with increasing young population and the rising economy is aiding PET consumption in India.

There are various government initiatives for consciousness about plastic recycling and procedures to remove the adverse impact of plastic waste on the environment in India. These initiatives are encouraging FMCG corporations to work on plastic waste management and employ biodegradable plastic for ready-to-eat as well as cosmetic products. For instance, key players such as Nestle India, Hindustan Unilever, Coca-Cola, Pepsico, Parle Agro, and Marico are expected to shift completely towards recyclable packaging as a part of their focus on a sustainable future.

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Competitive Landscape

Amcor is a leader at a global level in developing and manufacturing quality packaging for beverage, food, medical, home, personal care, and pharmaceutical industries, among others. With a strong presence in the Asia Pacific PET bottles market, the company deals in finishing and print technologies for flexible packaging that separates brands on the shelf along with offering an improved brand experience during the purchase and within the home.

Berry Global, Inc. is a company that produces innovative packaging along with engineered products that are believed to create better life for the planet and people.  The company aims to market protective packaging solutions that meet performance needs, environmental impact targets, as well as aesthetic requirements. It commits to aiding every consumer in executing transformative leaps for their sustainability goals along with resolving whatever challenges come next in an individual’s business.

Ningbo Jazz Packaging Co.,Ltd. is an international and production trade integration company which is dedicated to superior cosmetics packaging, such as airless bottles, cosmetics pens, cream jars, glass bottles, perfume sprays, and aluminium jars or caps, among others. It has an independent production factory which recently completed a more than 20 years history. There are senior engineers and professional mould designers that are focused on the development of new products. The company focuses on customer service and quality of products for global markets, searching for the most suitable and latest products for their customers to make their offerings more competitive.

Visy is a worldwide leader in packaging and resource recovery, with a strong presence in the Asia Pacific PET bottles market. It has been a pioneer in sustainability since its beginning. The company’s innovation, manufacturing, as well as logistic capabilities are structured around an integrated closed loop. The company offers flexible PET plastic manufacturing options, depending on the product, the storage location, needs for barrier technologies, requirements for hot-fill or cold-fill, and the aesthetic needs.

Manjushree Technopack Ltd. is a leading company for rigid plastic packaging. The company serves every FMCG industry vertical ranging from dairy to liquor, home care, food products, agrochemicals, pharma, and personal care with the best technologies and facilities.

Other market players include the MD Group.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.