Rising Consumption of Single-Serve and RTD Products Bolster PET Preforms Market, Says FMI

VALLEY COTTAGE, N.Y. – PET (Polyethylene
Terephthalate) preforms market has been propelled primarily by increasing
demand for ready-to-consume products. Growing prevalence of single-serve, and
grab and go items are fueling the demand for small-sized packaging.
Consequently, PET preforms are finding immense purpose in packaging size of up
to 500 ml. Developed using injection molding technique, PET preforms require
low capital expenditure, as well as eliminate the need for preservers. Since
PET preforms are lightweight, they ensure simple transportation.  

However, concerns apropos plastic pollution are obstructing market growth of PET. Governments in developed regions are imposing regulations for reduced usage of plastics, paving way for alternatives, including liquid cartons, which are 100% disposable and recyclable. In addition, innovators are developing plant-sourced bottles derived from eco-friendly resins, such as PLA (Polylactic acid) and PHA (Polyhydroxyalkanoates). Surging production of these alternatives is affecting demand prospects of PET preforms.

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Although food & beverage sector remain prime consumer of PET preforms, personal care, home care, and pharmaceutical sectors are reflecting worthwhile prospects. Market players are eyeing Asia Pacific except Japan (APEJ) for enhanced business footprint owing to mounting prominence of singleton households. In its new business intelligence report, Future Market Insights (FMI), suggest that global PET preforms market is anticipated to grow at a promising CAGR of ~5% over forecast period (2019–2029).

Increasing Demand from Food & Beverages
Sector

FMI reveals that food & beverages industry is expected to remain top consumer of PET preforms. As PET preforms provide affordable packaging solution, they are utilized in packaging of edible oil, bottled water, and carbonated drinks. Rising inclination towards convenient products, including RTD tea, and coffees, across the globe, are boosting the adoption of PET preforms in F&B sector. Further, studies find that single serve RTD coffee contributes to a third of coffee purchased from departmental stores in the US.

Preview Analysis Of2019 Analysis and Review of PET Preforms Market by Neck Type – ROPP/BPV, PCO/BPF, and Alaska/Bericap/Obrist for 2019 – 2029:https://www.futuremarketinsights.com/reports/pet-preforms-market

Developing
and under-developed countries are facing challenges of quality water supply. Shortage
of potable water is indicating need for packaged water, thereby stimulating the
demand for PET preforms. Influenced by situation, manufacturers, for instance, PepsiCo,
and Dr Pepper Snapple are focusing on the production of bottled water.

Analysts at FMI opine that “The market of PET preforms is being hindered by anti-plastic regulations. Manufacturers are shifting towards sustainable alternatives that mimic the properties of PET. Furthermore, they are relying on recycled PET to achieve legal compliance and enhanced brand reputation.”

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