Wilmington, Delaware, Oct. 31, 2023 (GLOBE NEWSWIRE) — Allied Market Research released a report, titled, “Australia PET Preform Market By TYes (ROPP, PCO standard, Alaska, CTC Preformsand Others), By Neck size (25 mm, 28 mm, 29 mm, 30 mm, and Others), By Application (Carbonated drinks, Water, Feeding, Non-carbonate drink, Cosmetics and chemicals and Others): : country Industry Forecasting and Opportunity Analysis, 2022-2031“. According to the report, the Australian PET preforms market was valued at $108.3 million in 2021 and is estimated to reach $167.0 million by 2031, exhibiting a CAGR of 4.6% from 2022 to 2031.
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Primary determinants of growth
The growth of the Australian PET preforms market is mainly driven by an increase in the consumption of carbonated beverages and other beverages. For example, according to the Australian Bureau of Statistics, in 2019-2020, approximately 14.5 million tonnes of food and non-alcoholic beverages were sold by supermarkets, grocery stores, convenience and specialty food stores, and markets fresh food, which was 4% more than last year. The continued focus on the development of product packaging that uses recyclable PET material is another reason that is thought to fuel the industry. Manufacturers and independent research organizations are developing new techniques to manufacture products that are more advanced. Due to the recyclable nature of PET preform, they are widely used in a variety of applications as they have a recyclable nature including CSD bottles, water bottles, food packaging, oil/edible oil bottles, beverage bottles alcohol, juice and milk bottles, and chemicals. & pesticide bottles.
Report vsoverage & ddetails:
| 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 |
| Covered segments | Type, Neck Size, Application and Region. |
| Drivers | Increased demand for packaged beverages.
Growing preference for recycled PET bottles |
| Opportunity | Increasing demand for PET preforms from a wide range of end-use industries |
| Restrictions | Challenges to the recycling of PET bottles |
tea PCO standard Australia PET Preforms segment maintained its leading position during the forecast period
Based on type, the standard segment of PET Preforms in Australia accounted for the largest share in 2021, contributing more than a quarter of the revenue of the PET Preforms in Australia market and is expected to grow at the highest CAGR high of 5.0% during the forecast period as The standard preform of PCO is most suitable for use in the dimensionally accurate production of carbonated beverage bottles. Also, the standard PCO preform provided is good for increasing manufacturing efficiency while producing higher quality stuff. It is well recognized for having a robust structure, which contributes to the development of stronger walls and a smooth surface.
Get a full report (121 PDF Pages with Insights, Charts, Tables, and Figures) @ https://bit.ly/3QDx8NB
tea 28 mm segment maintained its leading position during the forecast period
On the basis of neck size, the 28 mm segment dominated the largest market share in 2021 contributing more than two-fifths of the Australian PET Preforms market revenue and is expected to grow at Higher CAGR of 4.8% due to the products are continuously improved and innovated to manufacture PET preforms of precise dimensions. Due to the increased health awareness of consumers, companies are now more focused on the inclusion of natural ingredients, low calories and sugar in their products, such as the use of sweeteners stevia instead of conventional or synthetic sweeteners. Thus, increased consumption of carbonated beverages is expected to drive the growth of the 28 mm PET preform market during the forecast period.
tea vsorganic soften dtracks application maintained its leading position during the forecast period
Based on application, the carbonated beverages segment dominated the largest market share in 2021 contributing more than a quarter of the revenue of the Australian PET preforms market and is expected to grow at the highest CAGR of 5 % since PET is the most used. material to make preforms and bottles for carbonated drinks. The extensive use of thermoplastic polymer as a packaging material is due to a variety of its properties, including its glass-like transparency, lightness, flexibility, solid surface and mechanical strength, which refers to its resistance to breakage even under the most trying transit. terms. PET resists abrasion well. In addition, it shows resistance to dilute acids, alkaline solutions, fats and oils.
Major Market Players:-
- Vision
- IC-Plastic
- Vision Packaging
- Amcor Plc
- Wellman Packaging
The report provides a detailed analysis of these key players in the Australian PET Preform market. These players have adopted various strategies such as new product launches, collaborations, expansions, joint ventures, agreements and others to increase their market share and maintain the dominant share in various regions. The report is valuable in highlighting the company performance, operating segments, product portfolio and strategic moves of the market players to show the competitive landscape.
Want to access Statistical Data and Charts, Strategies of key players: https://www.alliedmarketresearch.com/australia-pet-preform-market/purchase-options
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Allied Market Research (AMR) is a full service market research and business consulting firm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research offers global companies and small and medium-sized businesses an unmatched quality of “Market research reports” and “Business Intelligence Solutions.” AMR has a focused view to provide business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, leads the organization to deliver high-quality data and insights. We are in professional corporate relations with various companies and this helps us to dig the market data which helps us to generate accurate research data tables and confirms the maximum accuracy in our market forecast. All data presented in the reports published by us are extracted through primary interviews with the main officials of the main companies of the domain concerned. Our secondary data acquisition methodology includes in-depth online and offline research and discussions with industry experts and analysts.
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