Pira International, an international market research firm, said last week that despite the recent rising market prices, European polyethylene terephthalate (PET) consumption in the food and beverage industry will continue to increase. The company predicts that from 2010 to 2015, the plastic packaging market in the European food and beverage industry is expected to continue growing at an average annual rate of 3.7%, and the average annual growth rate of packaging in the food and beverage industry is approximately 1.9%.
Although some PET processors have warned in the past few months that rising raw material prices may allow users to use other packaging materials. However, Pila International stated that PET will continue to replace glass, aluminum and other materials in the food and beverage packaging industry because of its transparency, durability, design flexibility, light weight, and recyclability. Since August last year, polyester spot prices in northwestern Europe have risen sharply from 1,085 euros/tonne to 1,620 euros/tonne at the end of March this year.
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