PET BOTTLES MARKET ANALYSIS

Market Concentration and Competitive Landscape

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With more people living increasingly busier lifestyles, there is a growing demand for convenient, versatile and portable packaging for food and beverages that can be easily transported and consumed on the go. PET (Polyethylene terephthalate) bottles have emerged as a popular solution due to their lightweight yet durable design. PET packaging allows products to remain fresh for longer and does not break easily like glass, making it suitable for active consumers. As daily commutes get longer and people prefer eating out of home more frequently, ready-to-drink beverages and snacks in PET bottles allow hurried consumers to quickly quench their thirst or grab a bite wherever and whenever they want without much preparation. Changing work patterns and dual-income households have also reduced dining at home, leading to an explosion in food delivery and takeaway services across major cities globally. According to a 2020 study by the United Nations World Food Programme, the global ready-to-eat food market reached USD 113.5 billion and is projected to rise to USD 149 billion by 2023. PET bottles have become the packaging of choice for several ready meals, desserts and beverages available on food delivery apps due to their microwave safe and tamper proof qualities. In addition, more individuals are embracing healthy, active lifestyles and prefer convenient PET-bottled protein shakes, juices, and sports drinks that help them meet daily nutrition goals without much effort.