LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global plastic-based water packaging market to grow at a CAGR of close to 8% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global plastic-based water packaging market for 2017-2021. The report provides a detailed analysis of the market based on different geographic regions. It also offers insights into emerging trends and drivers which are likely to contribute to the growth of the market during the forecast period.
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Technavio transportation and logistics analysts highlight the following three market drivers that are contributing to the growth of the global plastic-based water packaging market:
- Growing consumption of bottled water
- Increasing focus on lightweight packaging
- Advanced technological innovations in PET packaging
Growing consumption of bottled water
The growing consumption of bottled water is resulting in the increased demand for packaging materials. The growth in population, increase in the prevalence of waterborne diseases, and scarcity of tap water create a high demand for bottled water. Moreover, bottled water is convenient because boiling water at home is time-consuming and not energy efficient. Also, bottled mineral water is purified and fortified with dissolved minerals, which provides added health benefits to consumers.
“The need for safe drinking water in developing countries like India and countries in the Middle East has made these regions favorable destinations for multinational bottled water manufacturers. The per capita consumption of bottled water is expected to increase during the forecast period, which will drive the growth of the plastic-based water packaging market,” says Sharan Raj, a lead analyst at Technavio for packaging research.
Increasing focus on lightweight packaging
This process involves the redesigning of packaging material to reduce the weight without compromising on its quality. The R&D teams of plastic packaging vendors produce packaging that is light and easy to carry. Moreover, reducing the weight of packaging material and modifying pack formats to light configurations helps vendors to reduce the cost of transportation.
An average commercial 0.5-liter PET bottle weighs 12 grams, whereas the PET bottles manufactured by Sidel weigh only 7.95 grams. These bottles have 34% less weight than average commercial PET bottles. They offer 32% more top-load performance, saving up to USD 13.09 million per year on raw materials.
“Lightweight bottles require less raw materials for their production, which, in turn, increases the recycling rate of these bottles by 75% and decreases the energy required for production by 23%. It also reduces the greenhouse gas emissions by 26% and the amount of waste entering landfills by more than 20%,” says Sharan.
Advanced technological innovations in PET packaging
Manufacturers are designing PET-based water bottles using different methods to increase their barrier properties. Innovative technologies are being implemented in PET bottles to increase impermeability and eliminate the risk of harmful substances entering these containers. One such technology that is used is the plasma coating process. The protective layers that are applied to PET films have a thickness of 50 nanometers and are easy to recycle.
Browse Related Reports:
- Global Bottled Water Packaging Market 2016-2020
- Global Retail Glass Packaging Market 2017-2021
- Global Packaged Wastewater Treatment Market 2016-2020
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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