Australia PET Preform Market Share, Growth, Demand, Forecast And Research Report 2022-2031

Australia PET Preform Market Analysis and Future Prospects for 2031

PORTLAND, OREGON, UNITED STATES, May 23, 2024 /EINPresswire.com/ -- Allied Market Research has recently released a report titled "Australia PET Preform Market By Type, Neck Size, Application, and Region: Country Opportunity Analysis And Industry Forecast, 2022-2031". According to this report, the Australia PET Preform market was valued at $108.3 million in 2021 and is estimated to reach $167.0 million by 2031, with a Compound Annual Growth Rate (CAGR) of 4.6% from 2022 to 2031.

Prime determinants of growth

The growth of the Australia PET Preform market is majorly driven by an increase in consumption of carbonated and other beverages. For instance, according to Australia Bureau of Statics, in 2019–20, an estimated 14.5 million tons of foods and non-alcoholic beverages were sold from supermarkets, grocery stores, convenience & specialty food stores, and fresh food markets, which was 4% more than previous year. The continuing focus on the development of product packaging using recyclable PET material is another reason that is thought to be fueling the industry. Manufacturers and independent research organizations are developing new techniques to manufacture products that are more advanced. Owing to recycling nature of PET preform, they are widely used in a variety of applications as they have a recycling nature including CSD bottles, water bottles, food packaging, oil/edible oil bottles, alcoholic drinks bottles, juice & milk bottles, and chemical & pesticide bottles.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/74934

𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞 & 𝐃𝐞𝐭𝐚𝐢𝐥𝐬
- Forecast Period : 2022–2031
- Base Year : 2021
- Market Size in 2021 : $108.3 million
- Market Size in 2031 : $167.0 million
- CAGR : 4.6%
- No. of Pages in Report : 121
- Segments covered : Type, Neck Size, Application and Region.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

𝐃𝐫𝐢𝐯𝐞𝐫𝐬:
- Increased demand for packaged beverages.
- Increasing preference for recycled PET bottles

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬:
Increased demand for PET preforms from wide range of end-use industries

𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬:
Challenges to recycling of PET bottles

The growth of the Australia PET Preform market is primarily attributed to the increased consumption of carbonated and other beverages. For instance, data from the Australia Bureau of Statistics indicates a rise in the sale of foods and non-alcoholic beverages by 4% in 2019-20 compared to the previous year. Additionally, there is a growing focus on developing product packaging using recyclable PET material, further propelling the industry forward. PET preforms are widely utilized due to their recyclable nature across various applications such as CSD bottles, water bottles, food packaging, and more.

The standard PCO Australia PET Preforms segment retained its dominant position during the forecast period. This segment accounted for the largest share in 2021, contributing to more than one-fourth of the market revenue. It is anticipated to grow at the highest CAGR of 5.0% during the forecast period due to its suitability for producing bottles for carbonated drinks with high dimensional accuracy and quality.

In terms of neck size, the 28mm segment held the largest market share in 2021 and is expected to grow at a CAGR of 4.8%. This growth is attributed to continuous product innovations aimed at manufacturing precisely sized PET preforms to meet consumer demands, particularly in carbonated soft drinks.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A74459

The carbonated soft drinks application segment dominated the market in 2021, contributing to more than one-fourth of the market revenue and is projected to grow at a CAGR of 5%. PET remains the most widely used material for preforms and bottles in this segment due to its favorable properties such as transparency, lightness, flexibility, and mechanical strength.

Key players in the Australia PET Preform market include Visy, IC-Plastica, Vision Packaging, Amcor Plc, and Wellman Packaging. These players have adopted various strategies such as new product launches, collaborations, expansions, and agreements to maintain their market dominance.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: https://www.alliedmarketresearch.com/australia-pet-preform-market/purchase-options

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