Global PET Packaging Market
Global PET Packaging Market was valued at US$ 55.1 Bn in 2019 and is expected to reach US$ 81.98 Bn by 2027, at a CAGR of 5.09% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Polyethylene terephthalate (PTE) a plastic resin or polyester, which is made up of a combination of two monomers as terephthalic acid (PTA) and mono-ethylene glycol (MEG).
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding Tamper Evident Packaging dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders prioritizing the efforts and investment in the near future to the emerging segment in Tamper Evident Packaging.
The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
Based on the end-use industry, the food & beverages industry is expected to hold the largest share in the global PET packaging market during the forecast period owing to increasing concerns regarding food and environmental safety among consumers across the globe. In addition, the rising population, rapid urbanization, increasing demand for food, and growing disposable incomes of consumers across the globe which is boosting the market growth in a positive way. Pharmaceutical industries are estimated to generate the highest CAGR in the market during the forecast period owing to expanding these industries in developing countries such as India and China.
On the basis of packaging type, rigid packaging is projected to hold the largest share in the global PET packaging market during the forecast period due to the increase in demand for PET packaging from end-user industries to pack end-use products such as jars & bottles, and trays. Flexible packaging is expected to generate the highest CAGR in the global PET packaging market during the forecast period owing to it has features such as low shipping cost, less solid waste, and less storage.
In terms of pack type, the bottles & jars segment is anticipated to hold the largest share in the global PET packaging market during the forecast period. The growing demand for cost-effective and sustainable packaging from various end-use industries such as food & beverages, pharmaceutical, and, cosmetic & personal care, which is driving the global PET packaging market growth across the globe.
PET is a safe material for direct contact with food & beverages, which is estimated to drive the global PET packaging market growth in the forecast period. Various government bodies started to promote biodegradable packaging solutions across the globe is surging the growth of the global PET packaging market. The rise in demand for PET packaging for carbonated beverages, which is propelling the global PET packaging market growth in a positive way. Growing investments in R&D by manufacturers are anticipated to boost the global PET packaging market growth in the forecast period.
PET packaging popularity is increasing among consumers as it has features such as cost-efficiency and surges the shelf life of the product. PET packaging is bio-degradable in nature, which is driving the global PET packaging market growth in a positive way. PET packaging solutions usage is rising in the market as they are lightweight, recyclable, and reusable in nature. However, strict government regulations and policies in this region regarding carbon emission and manufacturing standards are estimated to hamper the market growth during the forecast period.
In terms of region, the Asia Pacific is expected to hold the largest share in the market during the forecast period owing to rising industrialization and rapid urbanization in developing countries of this region such as India and China. In addition, the growing disposable income of consumers and the replacement of traditional package formats with PET bottles. The rising awareness regarding environmental concerns, which is propelling the market growth in this region. North America is expected to generate the highest CAGR in the market during the forecast period owing to the developed economy and increased concerns regarding the environment among consumers.
Scope of the Report PET Packaging Market: Inquire before buying
Global PET Packaging Market, by Pack Type
• Bottle & Jars
• Bags & Pouches
• Lids/ Caps & Closures
Global PET Packaging Market, by Form
• Amorphous PET
• Crystalline PET
Global PET Packaging Market, by Filling Technology
• Hot Fill
• Cold Fill
• Aseptic Fill
Global PET Packaging Market, by Packaging Type
• Flexible Packaging
• Rigid Packaging
Global PET Packaging Market, by End-Use Industry
• Food & Beverages
• Personal Care & Cosmetic
Global PET Packaging Market, by Region
• North America
• Middle East & Africa
• South America
Key Players Operating in the Global PET Packaging Market
• Amcor Limited
• Graham Packaging Company
• Resilux NV
• Gerresheimer AG
• GTX Hanex Plastic Sp. z o.o.
• Dunmore Corporation
• Comar LLC
• Berry Global Inc.
• Silgan Holdings Inc.
• Sonoco Products Company
• Huhtamaki OYJ
• Nampak Limited
• CCL Industries Inc.
• Du Pont De Nemours and Company
• Smurfit Kappa Group PLC
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