The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreOct 2015
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PET witnessed the highest absolute volume growth in retail beverages packaging globally during the review period. Asia Pacific was the biggest contributor to this, driven primarily by China and India. Significant growth of bottled water, carbonates and RTD tea, not just in Asia, but also in Latin America and Eastern Europe is driving demand for PET as developing regions increase their spending.
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Despite global real GDP growth remaining the same as the previous year at 3% in 2014 and global packaging demand only seeing 2% growth in 2014, PET posted a 5% CAGR over the review period due to its various advantageous features such as versatility, lower cost, eco-friendly, design ability and convenient formats.
By 2019, eight of the 10 leading countries for PET usage will be developing countries, mainly from Asia Pacific and Latin America, driven primarily by bottled water, carbonates, juice and RTD tea. Western markets are losing their position mainly due to the maturity of these markets.
Asia Pacific is expected to post a 9% CAGR over 2014-2019, the highest volume growth in PET globally, driven primarily by India and China. Population growth, urbanisation, busy lifestyles and higher purchasing power are overall economical factors driving growth. Increased uptake of bottled water and significant growth in higher value categories such as juice and RTD tea, particularly in China are other key contributing factors.
Beverages are by far the dominant application for PET packaging globally, with a key position held in soft drinks. Bottled water globally leads as the key end-user of PET.
Although PET’s biggest end-user will remain soft drinks, it has made inroads into niche categories such as alcoholic drinks with its light weight and low cost features.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.