PET Packaging Market Has Immense Potential for Growth Forecast 2020 to 2025

According to IMARC Group’s latest report, titled “PET Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global PET packaging market reached a value of US$ 66.9 Billion in 2019. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.6% during 2020-2025 and reach a value of US$ 87.7 Billion by 2025.

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Polyethylene terephthalate (PET) is a polyester type that can be shaped into various packaging containers. It is manufactured by melting pellets of PET resin and extruding molten liquid into desirable shapes. The packaging is thermally stable, durable, unbreakable, and resistant to microorganisms, which prevents the content from degrading and ensures sustained quality. It also provides high dimensional stability and resistance to moisture, solvents, and alcohols, along with moderate resistance to diluted alkalis and halogenated hydrocarbons. As a result, it finds applications for the packaging across various industries, ranging from food and beverages, personal care to pharmaceuticals.

Growth Drivers:

The rising awareness for eco-friendly products is primarily driving the PET packaging market growth. Additionally, the increasing demand for customized and different-sized packaging for consumer convenience and brand differentiation further augments the demand for PET packaging. Moreover, the growing consumption of packed beverages and ready-to-eat food products also acts as a growth-inducing factor. The widespread product adoption due to low production and shipping costs, minimal solid waste and storage requirements, and ease of transportation further impel the market growth. Furthermore, extensive research and development (R&D) activities for producing reusable and recyclable packaging solutions and the advent of plasma-based coating to make bottles more impervious also contribute to the PET packaging market growth.

PET Packaging Market 2020-2025 Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the PET packaging market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:
• Amcor
• Berry
• Graham Packaging Company
• Dunmore Corporation
• Huhtamäki
• Resilux
• Dupont
• Silgan Holdings
• GTX Hanex Plastic
• Comar
• Sonoco
• Nampak
• CCL Industries
• Smurfit Kappa Group
• Rexam

The report has segmented the global PET packaging market on the basis of packaging type, form, pack type, filling technology, end user and region.

• Market Breakup by Packaging Type:
• Rigid Packaging
• Flexible Packaging

• Market Breakup by Form:
• Amorphous PET
• Crystalline PET

• Market Breakup by Pack Type:
• Bottles and Jars
• Bags and Pouches
• Trays
• Lids/Caps and Closures
• Others

• Market Breakup by Filling Technology:
• Hot Fill
• Cold Fill
• Aseptic Fill
• Others

• Market Breakup by End-User:
• Beverages Industry
• Bottled Water
• Carbonated Soft Drinks
• Milk and Dairy Products
• Juices
• Beer
• Others

• Household Goods Sector
• Food Industry
• Pharmaceutical Industry
• Others

• Market Breakup by Region:
• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America

Explore full report with table of contents @ https://www.imarcgroup.com/pet-packaging-industry-report

Key highlights of the report:
• Market Performance (2014-2019)
• Market Outlook (2020- 2025)
• The Impact of COVID-19 on the Global Market
• Market Drivers and Success Factors
• Value Chain
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.