23 April 2018 | News
Global revenue of PET preforms market to reach beyond US$ 25 Bn by 2028 end; plastic bottles recycling trend expected to strengthen market growth
Singapore – PET preforms, more popularly mini-bottles, will witness steady growth in their sales following soaring demand for bottled water worldwide. The details of global PET preforms market are revealed in a new research report published by Future Market Insights, titled PET Preforms Market Global Industry Analysis 2013 – 2017 and Opportunity Assessment, 2018 – 2028. According to the report, the market for PET preforms will exhibit a moderate CAGR of 4.6% over the next decade and attain the revenues beyond US$ 25 Bn by the end of 2028.
The market for bottled water and beverages is currently at its peak in terms of expansion and is not expected to slow down anytime soon. Strongly growing bottled water market will continue to fuel the sales of PET preforms in near future. Moreover, the demand for glass bottles is decreasing worldwide owing to higher cost and inconvenience, which is anticipated to benefit the mini-bottles market in coming years. A growing number of beverage brands are preferring PET preforms while packaging their products so as to achieve safe and convenient transport over long distances. This will remain a major factor boosting the performance of market over the next few years.