Bio-Based Pet Market

The global bio-based pet market is estimated to grow at a CAGR of 21.3% during forecast period of 2022-2030. Bio based polymers in the last decade has turned out to be a versatile and dynamic field growing from initial stages (research level) to long term proven products such as nylon or cellulose. Cost, product significance with respect to sustainability, crude oil prices, consumer adoption, federal policies, and new manufacturing technology have contributed in the last decade, in development of bio based polymers market across the globe. The production of bio based polymers is carried out through biochemical transformation (for example, sugars to succinic acid) or by a chemical reaction process (for example, hydrolysis of lipids into glycerol and fatty acids).

Bio based PET within Bottling Takes Over 40% of The Application Segment:

Total bio based polyBio-polyethylene and bio-polypropylene are versions of bio based polymers that have properties similar to that of polymers made from petroleum resources. The application segment of bio based polyethylene terephthalate is sub segmented into bottles, packaging, fibers, automotive, others. Bio-based PET bottles are non-biodegradable bottles that are manufactured by using ethylene glycol obtained from plant based sources such as sugar cane, sugar beet, corn etc. PET segment is the key revenue generating segment for bio-PET market for the forecast period. More than 90% of the total application of bio PET across the globe is bottling. Increasing demand for sustainable products, increasing adoption of bio based chemicals, and fluctuating crude oil prices are the main factors driving bottle bio-PET application for the forecast period. Bottle Bio-PET application is anticipated to grow at a CAGR 19.9% during period 2022-2030. Moreover, the automotive application is the fastest growing application which is growing with a CAGR of 25.2% during forecast period.

Rigid Packaging Market Contribute Over 60% of The Total Packaging Market

These bottles are largely used in rigid packaging of soft drinks, alcoholic beverages, cosmetics and pharmaceuticals, mineral water packaging by the companies such as Heinz, Coca Cola, PepsiCo, Dasani and others. Rigid packaging market contributes to about 60% of total packaging market due to high consumption of bio based PET bottles. For manufacturing bio PET bottles, PET of grade 30 are utilized in general.

APAC Leads the Bio Based PET Market

Globally, in bio pet market Asia Pacific held the largest market share of around 35% in 2020. The Asia Pacific is the largest manufacturer of the Bio plastics which attributed the large share of APAC region. Asia Pacific bio pet market is growing with a CAGR of 20.6% during forecast period. Growing demand of sustainable packaging material is going to drive the growth of the Bio plastics market in APAC region. Europe is the fastest growing region in the global bio pet market which is growing with a CAGR of 22.6% during forecast period.

360 Degree Market Analysis by Atlantic Research

The report holds the detailed description of the major regions of the globe i.e. North America, Europe, APAC and ROW. Major countries of each region have been thoroughly discussed by providing the market size and estimations, market determinants, government regulation and segmentation analysis. The report holds the detailed description of the major regions of the globe i.e. North America, Europe, APAC and ROW. Major countries of each region have been thoroughly discussed by providing the market size and estimations, market determinants, government regulation and segmentation analysis. The report has the analysis of emerging and leading companies in the current worldwide bio based PET market. The competitive environment is observed and report is majorly focused on how new technologies and products are influencing the current bio based PET market. Mergers and acquisitions recently accomplished are detailed with a major focus on what organizational, product-specific and strategic changes are expected in the forecasted period. Detailed profiles of the market leaders are discussed in detail. Also, factors holding opportunities such as research and development activities, untapped market scenario is discussed in detail.

Historical & Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2030.

Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region.

By Application(2020-2030; US$ Mn)

• Bottles
• Packaging
• Fibres
• Automotive
• Others

by Region (2020-2030; US$ Mn)

• North America
• Europe
• Asia Pacific
• Latin America
• Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

• Pre Covid-19 situation
• Post Covid-19 situation

Key questions answered in this report

• What are the key market segments in current scenario and in the future by product categories?
• What are the key market segments in current scenario and in the future by regions?
•  What is the key impact of Covid-19 over market revenues and market determinants in the global bio-based PET market?
• What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
• What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
• How to overcome the current market challenges and leverage the opportunities in each of the market segment?
• Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
• What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?