Pet Bottles Market is Estimated to Witness High Growth Owing to Technological Advancements

0
305

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 from 2024 to 2031.

Key Takeaways

Key players operating in the pet bottles market are Reckitt Benckiser Group PLC,,Church & Dwight Co. Inc.,,Okamoto Industries Inc.,,Karex Berhad,,Humanwell Group.

The rising consumption of bottled beverages especially bottled water along with increasing disposable incomes in developing countries presents lucrative growth opportunities. Innovation in pet bottle caps and closure is another key opportunity.

Technological advancements like bio-based pet resin materials and new blowing technologies are helping improve Pet Bottles Market Size  functionality and enabling lighter weight bottles for better sustainability.

Market Drivers

Growing health awareness among consumers is driving the demand for bottled beverages as they are perceived as more hygienic and convenient options. This growing preference for bottled beverages is the major market driver for pet bottles.

Rapid urbanization is leading to busy lifestyles and increased demand for on-the-go consumption options. Pet bottles offer portability and resealability making bottled beverages a fast growing packaging format.


Current Challenges in the Pet Bottles Market
The pet bottles market is facing challenges due to increasing environmental concerns regarding pet bottles usage. Pet bottles are made from petroleum-based plastic material which takes hundreds of years to decompose. This is resulting in growing plastic pollution across the world. Landfills are filling up with non-degradable pet bottles leading to depletion of limited land resources and contamination of soil and water bodies. Rising plastic disposal costs are also affecting profit margins for pet bottle manufacturers. Furthermore, stringent regulations around pet bottle usage and disposal in various countries aim to reduce plastic wastage which adds compliance burden on market players.


Get more insights on Pet Bottles Market

Zoeken
Sponsor
Categorieën
Read More
Networking
Automotive Emission Test Equipment Market 2021 Global Outlook, Research, Trends And Forecast To 2027
Automotive Emission Test Equipment Market...
By Sharad Maximize 2022-04-12 10:02:23 0 1K
Other
Europe Gallium Nitride Market :Size, Share, Top Vendors, Industry Trends, Growth, Recent Developments, Technology Forecast to 2032 - MRFR
Gallium Nitride (GaN) is emerging as a significant semiconductor material, primarily used in...
By Arron Donald 2024-05-22 07:07:38 0 527
Art
NACE-CIP1-001 Popular Exams | NACE Reliable NACE-CIP1-001 Learning Materials
NACE NACE-CIP1-001 Popular Exams But now many people can't tell what kind of review materials and...
By Lynunozu Lynunozu 2023-02-10 03:47:32 0 1K
Home
Why Do Amusement Parks Have So Many Kids' Rides?
Walking through any amusement park on the planet probably will provde the concept that most of...
By Sunny Shaw 2021-07-05 07:00:11 0 1K
Other
Workplace Safety Products and Economics | How They Help!
It is estimated that more than 40 million workers in the United States had to receive emergency...
By Hanamor Bens 2021-08-11 21:40:10 0 2K