Australia PET preform market Expected To Reach $167.0 million by 2031—Allied Market Research.

According to a new published report by Allied Market Research titled, “Australia PET preform Market by Type, Neck Size and Application: Regional Opportunity Analysis and Industry Forecast, 2022–2031,” 
Australia PET Preform 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. 

PET preforms can be used for the packaging of mineral water, juices, liquors, soft drinks, carbonated drinks, oils suitable for consumption, medicines, pickles, jams, and consumer products, etc. Small volume of PET preform contributes a lot to environmental measures and reduces costs.

Another advantage of preforming is that it can be used to produce bottles and containers with various designs. It is enough to heat the preform’s body to about 100 degrees Celsius and put it in the mold. It can be then shaped as desired with high-pressure air. Multilayer containers and bottles can also be made using preforms. These containers can prevent oxygen from entering and keep the food quality unchanged for an extended period. Moreover, the flavor and aroma of the substance that is inside is not lost. 
Increase in consumption of carbonated and other beverages could further boost the Australia PET preforms market. 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. 

On the other hand, severe restrictions prohibiting the use of plastic is a threat to the PET preforms industry. This is due to the fact that plastic is non-biodegradable. Not just governments, however, also NGOs and other organizations are raising awareness about the importance of recycling plastic or limiting its use. Despite these obstacles, the PET preforms market is expected to grow due to high demand for PET bottles from various end-use sectors owing to increased urbanization, disposable income, and consumerism. 

Increasing preference for recycled PET bottles 

PET bottles are 100% recycled products. Manufacturers using or producing this material are increasingly attentive to innovations that will make processes more eco-sustainable and use fewer virgin materials. The production of PET preforms and bottles in recent years has evolved greatly, in a search for processes that combine the use of recycled materials with a quality end product. 

It is a known fact that polyethylene terephthalate, or PET, is a thermoplastic resin forming part of the macro-group of polyesters, and it is a material suitable to produce containers for the food & beverage industry. PET bottles are widely distributed, both through the sale of water and fizzy drinks, but also for milk, oils, alcoholic beverages. The products made using this polymer can be totally recycled and re-used for packaging and containers. Thus, the increasing demand for recycled PET bottles is expected to boost the demand for PET preform during the forecast period.

The Australia PET Preform market is segmented on the basis of neck type, neck size, and application. On the basis of neck type, Australia PET Preform market is classified into ROPP, Standard PCO, Alaska, CTC Preforms, and others. By neck size, the market is categorized into 25 Mm, 28 Mm, 29 Mm, 30 Mm, and others. On the basis of application, the market is divided into carbonated soft drinks, water, food, non-carbonated drinks, cosmetics & chemical, and others.  

On the basis of neck type, the standard PCO segment was the largest revenue contributor in 2021 and is anticipated to register a highest CAGR of 5.0% during the forecast period. Standard PCO PET preforms are widely used in packaging of carbonated soft drinks, juices, sauces (water products), and industrial chemicals, thus it will boost the market growth during the forecast period. 

On the basis of neck size, the 28mm segment was the largest revenue contributor, in 2021 and is anticipated to register a highest CAGR of 4.8% during the forecast period owing to increased demand of 28 mm PET preform from wide number of end-use industries such as pharmaceutical, personal care, food & beverages and others.  

On the basis of application, the carbonated soft drinks segment was the largest revenue contributor, in 2021 and is anticipated to register a highest CAGR of 5.0% during the forecast period owing to increased consumption of carbonated soft drinks in Australia country. The major players operating in the industry include Visy, IC-Plastica, Vision Packaging, Amcor Plc, and Wellman Packaging. These players have adopted product launch as their key strategy to increase their market shares.

KEY FINDINGS OF THE STUDY

• Based on neck type, the standard PCO segment is expected to grow at a CAGR of 5.0%, in terms of revenue, during the forecast period. 
• Based on neck size, the 28mm segment garnered 4.8% share in 2021, in terms of revenue. 
• On the basis of application, the carbonated soft drinks segment is expected to grow at a CAGR of 5.0%, in terms of revenue, during the forecast period.

IMPACT OF COVID-19 ON THE AUSTRALIA PET PREFORM MARKET

• As a result of the COVID-19 outbreak, consumer behaviour has changed substantially. Buyers are more concerned than ever before about products’ hygiene and sustainability. Consumer behaviour will undoubtedly continue to change during the forecast period as the market simultaneously acclimates more to the current scenario. Thus, the post-COVID-19 method for beverage packaging looks promising in terms of demand. 
• Advances in mineral water have led to increased consumption in Australia due to its high benefits and positive health impacts. Growing demand for mineral water from natural sources stored in quality bottles drives the growth rate of the PET preform packaging market.