Bio-based Polyethylene Terephthalate Market To Reach $6.16 Billion By 2030

Bio-based Polyethylene Terephthalate Market Growth & Trends 

The global bio-based polyethylene terephthalate market size is expected to reach USD 6.16 billion by 2030, at a CAGR of 12.8% according to a new report conducted by Grand View Research, Inc. Growing demand for sustainable packaging solutions including bottles and cartons is expected to drive the demand for bio-based PET. The adoption of the Kyoto Protocol in economies, such as Japan, Australia, and Canada, and the Montreal Protocol in the U.S. and Canada, are expected to further restrict the use of products contributing to GHG emission, thus, driving the demand for bio-based products such as PET.

Rising demand for eco-friendly packaging among personal care companies including P&G is expected to play a vital role in increasing the market size for bio-based PET in consumer goods. 

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Bio-based Polyethylene Terephthalate Market Report Highlights 

• Bottle application use dominated the market and accounted for the largest revenue share of 53.9% in 2023. Bottle packaging is in enormous demand from FMCG and the food, beverage, and personal care industries

• Foam application is expected to grow at a CAGR of 14.7% over the forecast period. The bio-based foam products have attended to their importance due to the increasing demand for sustainable goods.

• The Asia Pacific bio-based polyethylene terephthalate market dominated the global market and accounted for the largest revenue share of 39.6% in 2023.

Bio-based Polyethylene Terephthalate Market Segmentation

Grand View Research has segmented the global bio-based polyethylene terephthalate market report based on application, and region:

Bio-based Polyethylene Terephthalate Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Bottles

• Foam

• Pressure Sensitive Adhesive Tape

• Substrate In Thin Film Solar Cells

• Cosmetics

• Others

Bio-based Polyethylene Terephthalate Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Russia

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

  • Thailand

  • Indonesia

  • Vietnam

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Bio-based Polyethylene Terephthalate Market

• The Coca-Cola Company.

• Danone India.

• Indorama Ventures Public Company Limited.

• MG Chemicals

• Mitsubishi Chemical Group Corporation.

• PepsiCo

• Plastipak Holdings, Inc.

• TEIJIN LIMITED.

• TORAY INDUSTRIES, INC.

• Toyota Tsusho Corporation.

• VIRENT, INC.

• Anellotech, Inc.

• Gevo, Inc.

• Avantium N.V.