March 29, 2023 07:30 ET | Source: AstuteAnalytica India Pvt. Ltd. AstuteAnalytica India Pvt. Ltd.
New Delhi, March 29, 2023 (GLOBE NEWSWIRE) -- Astute Analytica’s analysis of the Europe PET Bottle Market provides comprehensive analysis that cover various aspects of the market, including demand and supply trends, pricing movements, market dynamics and government regulations. Longway Company
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The demand for PET bottles in Europe has seen a continuous increase over the past few years, driven mainly by the increasing consumption of bottled beverages. The rising demand has been met by a consistent supply of PET bottles, which has enabled the market to remain stable. The market is also growing due to an increase in the number of packaged foods, cosmetic products and other consumer goods which are being sold in PET bottles.
As a result, the prices of PET bottles in Europe have remained relatively stable over the past few years, and are expected to continue doing so in the foreseeable future. The average price per kilogram of PET bottles in Europe is EUR 0.50, while the average price per ton is EUR 500.
Consumption and Supply Outlook of Europe PET Bottle Market
The consumption of PET bottles in Europe is increasing due to the growth of the beverage industry. The increasing popularity of single-serve and on-the-go beverages is driving the consumption of PET bottles.
The supply in the Europe PET bottle market is driven by a few key players such as Plastipak Holdings, Inc., RETAL Industries Ltd., ALPLA Werke Alwin Lehner GmbH & Co KG, and others. These players are investing in expanding their production capacities to meet the growing demand for PET bottles in Europe. However, the supply of raw materials such as PET resin is a major challenge for the industry as the prices of PET resin have been volatile over the years.
The PET bottle market in Europe faces several challenges such as the volatile prices of raw materials, competition from other packaging materials, and environmental concerns. The industry is also facing challenges due to the increasing regulations on the use of plastic packaging. The industry is investing in developing sustainable PET bottles to address these challenges and meet the changing consumer preferences.
Recycled PET to Gain a Significant Momentum to Reach more than 35% Market Share in Europe PET Bottle Market
In recent years, there has been a growing trend towards sustainability in the European market, with a focus on reducing plastic waste and increasing the use of recycled materials. According to a report by Astute Analytica, there will be a rapid shift in the consumption of recycled PET in the European PET bottle market by 2031, with recycled PET expected to capture more than 35% revenue share, up from 22% in 2022.
Europe generates a significant amount of plastic waste, including PET waste. According to the European Union, approximately 25.8 million tonnes of plastic waste was generated in 2018, with only 30% of this waste being collected for recycling. PET bottles make up a significant portion of this plastic waste, with around 70% of PET bottles currently being recycled in Europe.
To facilitate the increased use of recycled PET bottles, a number of initiatives have been launched by various organizations and stakeholders in the Europe PET bottle market. For example, the European Commission has launched several initiatives, such as the European Green Deal and the European Circular Economy Action Plan, which are aimed at boosting the circular economy and promoting the use of recycled materials. Additionally, a number of companies, including Coca-Cola, PepsiCo, and Unilever, are working together to increase the amount of recycled PET bottles used in the production of their products.
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Crystalline PET to Keep its Dominance Intact in Europe PET Bottle Market, But is Likely to Shed 5% of its Market Share by 2031
According to Astute Analytica's study, the European market is expected to undergo a significant shift in the coming years. While crystalline PET currently holds a dominant position with a market share of over 65%, it is expected to decline by more than 5% in the upcoming years. This indicates a growing preference for alternative materials or forms of PET, which could be driven by changing consumer preferences, environmental concerns, or regulatory changes.
As a result, companies operating in the European PET bottle market will need to keep a close eye on these trends and be prepared to adapt their strategies to remain competitive. This may involve investing in research and development to identify and develop alternative materials, exploring new distribution channels, or investing in marketing and advertising to promote the benefits of PET bottles.
Apart from this, businesses can explore new distribution channels and markets to expand their reach and diversify their revenue streams. This could involve partnering with retailers, wholesalers, or distributors in new regions, or exploring opportunities to sell directly to consumers through e-commerce channels. By taking these steps, businesses can position themselves for long-term success in the evolving European PET bottle market.
According to Astute Analytica's analysis, the top five players in the European market generate more than 58% of the revenue. Among them, Plastipak Holdings, Inc. is a major player in the PET bottle market, holding a market share of over 26% in Europe. The company has established a strong presence in the region by operating manufacturing facilities in multiple European countries including the United Kingdom, Germany, and Spain. Plastipak Holdings, Inc. provides a diverse range of PET bottles that cater to various applications such as carbonated soft drinks, water, and other beverages.
As a player in a highly competitive market, Plastipak Holdings, Inc. faces competition from various other companies such as RETAL Industries Ltd. and ALPLA Werke Alwin Lehner GmbH & Co KG. To stand out, the company strives to excel in product quality, innovation, pricing, and customer service. It is worth noting that Plastipak Holdings, Inc. possesses a competitive edge over its peers by leveraging its robust manufacturing capabilities and sustainability focus.
To maintain its competitive advantage in the Europe PET bottle market, Plastipak Holdings, Inc. has been expanding its manufacturing capabilities and investing in sustainable technologies. The company has been conducting research and development to develop eco-friendly packaging solutions such as recycled PET bottles and bio-based PET bottles. Additionally, the company has been expanding its manufacturing facilities across Europe to meet the growing demand for PET bottles.
Some of the Top Market Players Are:
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