Published on : Nov 14, 2019
A report titled “Recycled PET (r-PET) Bottles Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027.” The shift from plastic production to plastic recycling has played a key role in expansion of the recycled PET (r-PET) bottles market. The growing popularity of packaged drinks and food products compels the manufacturers to use recycled materials in order to comply with the strict environmental regulations. The market has also benefitted out of the rising awareness pertaining to environmental sustainability among
The report on the recycled PET (r-PET) bottles market talks about the market’s evolution throughout the forecast period. It also highlights the industry’s growth scenario and the key strategies deployed by the players functioning in the r-PET bottles market.
High Adoption of r-PET Bottles in Consumer Goods Industry to Boost Growth
The need for optimization of products has le d to the incorporation of automation in recycling products. The rising trend of “use and recycle” has highly strengthened the recycled PET (r-PET) bottles market’s expansion. The food industry is a major contributor to the market’s expansion due to a high demand for r-PET bottles. The trend of “coffee and drinks on the go” has also compelled the manufacturers to lay emphasis on the environmental impact of the material used for packaging these products. As a result the manufacturers in collaboration with the packaging providers are working towards adoption of sustainable products in their business.
The consumer goods industry is taking a leap towards adoption of sustainable resources, thereby amplifying the demand for r-PET bottles. Moreover, environmentalists are increasingly raising a flag due to the piling plastic waste leading to companies moving away from the use of PET bottles. The clear r-PET bottles in particular, witness a high demand from the consumer goods industry. This is majorly because of the cost-effective and easy recycling of these bottles. Banking on this trend, manufacturers are increasing the production of these bottles. On the other hand, the sale of colored r-PET bottles is driven by the attractive appearance and high tensile strength offered by these bottles.
Request a Sample PDF copy with detailed Insights: https://www.researchmoz.us/enquiry.php?type=S&repid=2478619
Furthermore, manufacturers are vying the direction of optimizing the production process of recycled PET bottles. To do so they are gradually shifting focus from mechanical recycling process towards chemical-based recycling process. This not only simplifies the recycling process but tremendously increases the process efficiency. This strategy will help the stakeholders make a mark in the global recycled PET (r-PET) bottles market.
Deployment of robust distribution channels also plays a crucial role fighting the recycled PET (r-PET) bottles market’ turbulence. Manufacturers are choosing laying considerable emphasis on attracting the right businesses to earn significant revenue benefits. Strategic acquisitions and new product developments have also helped the key players tackle the market’s headwinds.
The competitive landscape of the recycled PET (r-PET) bottles market is moderately consolidated with top three players holding around 35% of the total market share in 2018. Leading players functioning the market comprise Phoenix Technologies International, LLC, ALPLA Werke Alwin Lehner GmbH & Co KG, and Indorama Ventures Public Company Limited.
Asia Pacific to Hold a Lion’s Share in the r-PET Bottles Market
In terms of geography, Asia Pacific is anticipated to dominate the global r-PET bottles market. Booming food and beverages industry and increasing adoption of sustainable resources are the major drivers of the market’s growth in this region. Strict environmental norms have further supported the market’s expansion. India, Japan, and China are the leading contributors to the recycled PET (r-PET) bottles market’s growth in Asia Pacific. China is the highest producer of r-PET bottles due to the rising demand for energy drinks.