Pet
bottles are containers widely used for packaging water, carbonated soft drinks,
juices, sports drinks, and other beverages. Made from polyethylene
terephthalate (PET), pet bottles offer advantages such as lightweight, high
clarity, shatter-resistant nature, retention of carbonation, and recyclability.
They help safeguard packaged beverages from light, air, and other environmental
contaminants.
The Global Pet Bottles Market is estimated to be
valued at US$ 2.91 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over
the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Pet Bottles market include Reckitt Benckiser
Group PLC, Church & Dwight Co. Inc., Okamoto Industries Inc., Karex Berhad,
and Humanwell Group. These companies collectively account for over 30% share of
the global market. The increasing demand for bottled water and ready-to-drink
beverages have propelled market growth. According to various reports, bottled
water consumption has increased by over 7% annually in the last few years.
The rising health-consciousness among consumers coupled with the convenience of
pet bottles is further fueling the market expansion. Additionally, growing
urbanization and rising disposable incomes in developing nations have increased
the demand for packaged consumer products. This, in turn, is driving the
Pet
Bottles Market Demand globally. The market has also witnessed growing
adoption in cosmetics and pharmaceuticals end-use industries for product
packaging and distribution.
Market Key Trends
One of the key trends gaining traction in the pet bottles market is the
increasing focus towards sustainable and eco-friendly packaging materials.
There is a rising preference for pet bottles made using recycled PET (rPET)
content. The recycled plastic bottles help reduce the carbon footprint and
reliance on fossil fuels for bottle production. They also address the critical
issue of plastic waste management. Leading market players are actively
investing in innovative recycling technologies and initiatives to increase the
recycled plastic content in bottles. This focus towards sustainability offers
significant opportunities for long-term market growth.
Porter’s Analysis
Threat of new entrants: Bottling production requires high set up costs
which acts as a barrier for new players.
Bargaining
power of buyers: Buyers have low bargaining power due to availability of
substitutes in the market.
Bargaining
power of suppliers: Supply market is fragmented and suppliers have moderate
bargaining power.
Threat
of new substitutes: Low threat as pet bottles provide convenience over other
containment options.
Competitive
rivalry: Market is competitive due to presence of many international players.
The pet bottles market in North America accounts for largest share in terms of
value owing to high pet ownership rate and awareness about pet care products.
The United States generates highest demand due to large number of pet owners
and growing trend of nuclear families preferring pets.
Asia Pacific is expected to grow at fastest pace during forecast period led by
countries like India and China. Rising incomes, growing urbanization and
increasing trend of small families keeping pets as companions are some factors
driving market growth in the region. Rapid westernization is also influencing
pet adoption in Asia Pacific.
Get more insights on Pet
Bottles Market
About Author:
Ravina Pandya, Content Writer, has a strong foothold
in the market research industry. She specializes in writing well-researched
articles from different industries, including food and beverages, information
and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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