Pet Packaging Market to move forward at a double-digit CAGR by 2027

United States, New York, 2023-Feb-21 — /EPR Network/ —Global PET Packaging Market: by Product (Amorphous PET and Crystalline PET), by Packaging Type (Rigid Packaging and Flexible Packaging), by Pack Type (Bottles & Jars, Bags & Pouches, Trays, Lids/Caps & Closures, and Others), by End-Use Industry (Food & Beverages, Household Products, Personal Care Products, Pharmaceuticals, and Others), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2021–2027)

The PET packaging market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The report’s study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the personal care packaging industry.

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PET Packaging Industry Outlook

The global PET packaging market size was valued at 60.4 billion in 2020, which is expected to reach USD 85.6 billion by 2027, registering a CAGR of 4.8% during the forecast period (2021-2027). Polyethylene terephthalate (PET) is a type of polyester expelled into plastic boxes and jugs, which is later used in the packaging of food and refreshments, personal care items, and other consumer products. PET material possesses various packaging properties, making it more suitable than other conventional packaging solutions, such as high transparency, shiny surface, good stability, lightweight, high-pressure resistance, and good barrier properties.

Factors Affecting the PET Packaging Market Over the Forecast Period:

Significant growth can be projected in the PET packaging market landscape with the adoption of lightweight packaging solutions.

Decreasing production and transportation costs are some prime goals focused by the manufacturer of the goods for exploring lightweight plastic packaging, which is leading to the growth of the PET packaging market across the globe.

The demand for PET packaging has a positive impact with the growing popularity of lightweight packaging materials.

Fluctuations in the raw material prices and lack of efficient recycling facilities are certain factors hampering the growth of the PET packaging market across the globe.

Impact of COVID-19 on PET Packaging Market:

With the outbreak of the COVID-19 pandemic, the demand for the PET packaging market has increased significantly with the rise in the delivery of goods at the doorstep. PET packaging has been regarded to keep the product safe from damages and getting contaminated. Moreover, the PET packaging market manufacturers have increased their production due to the increase in demand and supply of PET packaging products. Therefore, considerable growth in the PET packaging market value can be projected in 2020.

Scope of the Report

The report outlines the global PET packaging market study based on the product, pack type, packaging type, and end-use industry.

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Based on product, the PET packaging market is segmented into –

• Amorphous PET
• Crystalline PET

Based on pack type, the PET packaging market is segmented into-

• Bottles & jars
• Bags & pouches
• Trays
• Lids/Caps & closures
• Others

Based on packaging type, the PET packaging market is segmented into-

• Rigid
• Flexible

Based on end-use industry, the PET packaging market is segmented into-

• Food & Beverages
• Household Products
• Personal Care Products
• Pharmaceuticals
• Others

PET Packaging Market: Regional Outlook

The PET packaging market has been segmented into five geographical regions: North America, Asia Pacific, South America, Europe, the Middle East, and Africa. In 2020, North America held the largest share in the global PET packaging market, followed by Europe and the Asia Pacific. North America is further estimated to dominate the PET packaging market during the forecast period. Moreover, Asia Pacific is expected to project the highest CAGR in the global market over the forecast period.

Key Global PET Packaging Market Competitors Includes –

The PET packaging market is highly fragmented, with a large number of small players across the globe. The key PET packaging market players operating in the global market include –

• Alpha Group
• Amcor plc
• Berry Global Inc.
• CKS Packaging
• Comar LLC
• Gerresheimer AG,
• Graham Packaging Company
• GTX HANEX Plastic Sp. z o. o.
• Nampak Limited
• PET Power
• Plastipak
• RESILUX NV
• Silgan
• Sonoco Products Company
• Tetra Laval.

The PET packaging market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.

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PET Packaging Market Report Covers Comprehensive Analysis On:

• Market Segmentation & Regional Analysis
• Market Size of 10 years
• Pricing Analysis
• Supply & Demand Analysis
• Product Life Cycle Analysis
• Porter’s Five Forces & Value Chain Analysis
• Developed & Emerging Economies Analysis
• PEST Analysis
• Market and Forecast Factor Analysis
• Market Opportunities, Risks, & Trends
• Conclusion & Recommendation
• Regulatory Landscape
• Patent Analysis
• Competition Landscape
• 15+ Company Profiles

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PET Packaging Market Regional Analysis Includes:

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA

PET Packaging Market: Target Audience

• Package manufacturers
• Healthcare & pharmaceutical institutes
• Retail shops & outlets
• Manufacturing organizations
• Beverage manufacturers
• Packaging organizations