Packaging News
Euromonitor said PET, second only to flexible plastic in popularity, is outpacing growth of other packaging materials due to its flexibility in form and size, especially in beverages when compared to the beverage can, glass bottle and liquid carton. The re-closability afforded by the PET bottle for on-the-go convenience is said to be a pertinent, core strength of the format. When it comes to global prospects for the PET bottle, Asia Pacific is a particular stand-out region that shows an increasing propensity for this pack format.
Rosemarie Downey, global head of packaging research at Euromonitor International commented: “The vast majority of PET bottles bought across the world are for soft drinks and led by water (241 billion bottles) and carbonated soft drinks (104 billion bottles); these two beverages accounted for 69% of global PET bottle volume sales in 2016. Sales of bottled water in PET bottles accounted for 84% of the global increase of 17.9 billion PET bottles in 2016, the success and opportunities for bottled water is underpinned by a greater consumer interest in eating and drinking healthier.
The global rise in consumption of bottled water in PET bottles and water-like beverages is linked to consumers increasingly seeking to hydrate with a natural, functional and low-calorie soft drink as opposed to other soft drinks with higher sugar and calorific content. Wellness and well-being are key concerns of consumers today.”
“China is the number one world leading country for consumption of PET bottles. It accounted for 24 percent of global PET bottle demand alone in 2016 and is a critical country to understand when examining global volume growth prospects for PET. In 2015 consumers in China purchased 68.4 billion bottles of water and in 2016 this increased to 73.8 billion bottles, up 5.4bn.”
US PET bottle consumption in 2016 amounted to 93.9 (94) billion bottles, of which bottled water amounted to 52 billion PET bottles. Bottled water in PET bottles is forecast onward growth of 3.3% CAGR for 2016-2021.
