African PET Market - A Future for Growth

Africa is home to around 17% of the global population, with total VPET demand equating to around 4.9% of global consumption. Africa has the world’s youngest and fastest-urbanising population, with an average of 24 million more people forecast to move to cities each year between 2015-2045. Sub-Saharan Africa’s population of more than 1 billion people is currently growing at around 2.7% a year – more than twice as fast as South Asia (1.2%) and Latin America (0.9%). These rapidly increasing urban populations will result in sustained and substantial growth in future PET demand, and whilst Africa has struggled economically in the past, it has the potential to become one of the major sources of global growth.