PET Container Market is Expected to Reach USD 122.4 billion by the End of 2032

The global PET containers market is estimated at USD 73.1 Billion in 2022 and is forecast to reach USD 122.4 Billion by 2032, growing at a CAGR of 5.3% during 2022 to 2032.

Fact.MR- a market research and competitive intelligence provider, foresee a thriving growth in PET containers demand. The global PET containers market is expected to grow at 5.3% CAGR during 2022-2032 and reach the valuation of USD 122.4 Billion by the end of 2032.

PET container is one of the rigid cost-effective packaging solutions to pack the ready-to-drink beverages, carbonated drinks, mineral water and other food applications among its counterparts. Significant growth in the demand for single-serve beverages is driving the growth for PET containers. The beverage as end use industry is expected to grow 1.5X over the period of 2022-2032.

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According to the National Association for PET Container Resources (NAPCOR), U.S. recycling rate for PET bottles was 26.6% in 2020, which is expected to increase significantly in recent few years. The demand for the PET containers has grown significantly in the last 5-10 years due to the high growth in the consumption of convenient food & beverages products like juices and coffee around the globe. More than 500 billion PET bottles are used globally for the packaging of different goods in household, chemical, food & beverages, personal care and other industries.

Among them, beverages segment dominates the market with the highest number of PET containers used for bottled water and soft drinks packaging applications. PET containers that are used for single serve ready-to-drink coffee, which didn't exist a few years ago, comprises of more than 30% of the total coffee sold at grocery stores in the U.S.

PET containers Market Historical Outlook (2017-2021) Vs. Forecast Outlook (2022-2032)
• North America based PET containers market is expected to have a revenue share of 23% in 2022 and is likely to reach a valuation of USD 29 Bn by 2032 with a growth rate of 5.7%.
• The Europe region is presumed to hold market value of around USD 23 Bn by the end of 2022 owing to high technology adoption rate.
• The bottle segment as container type is expected to be valued at USD 72 Bn by 2032 with a growth rate of 4.9%.
• By end use industry, homecare and personal care segment holds a growth rate of 3.7% with the market share of 18% by the end of 2032.
• Under container type, jars and trays segment is expected to hold combined market share of 21% in 2022 and is likely to reach a combine valuation of USD 27 Bn by the end of forecast period.
• The beverages segment in end use industry type is expected to grow at a CAGR of 4.3% over the period of 2022-2032.

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Competitive Landscape
Fact.MR has profiled the following key PET containers manufacturers in its report are RETAL Industries Ltd., Plastipak Holdings, Inc., ALPLA, Resilux NV, Taiwan Hon Chuan Enterprises Co., Ltd, Ester form Packaging Limited, Berry Global Group Inc., Indorama Ventures Public Co., Ltd, Zhonghu Enterprise Co Ltd., Eskapet Pet Ürünleri Kimya San Ve Tic. Ltd., Amcor Limited, CCL Industries Inc, Huhtamaki Group, Rexam PLC, Gerresheimer AG

Key manufacturers are constantly innovating product designs to meet the modern day challenges pertaining to components placement in the engine environment.

Some of the recent developments are:
• In 2021, Huhtamaki had acquired a company named Elif. This acquisition will lead to strength up their position to supply the products in developing nations and expands its existing flexible business of PET containers.
In 2020, Amcor had launched the lightest 900-ml PET bottle which can be used for edible oil in Brazil. This was developed by using advanced design technology.

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Key Segments Covered
By Container Type
• Bottles
• Jars
• Pails
• Clamshells
• Trays
• Others

By Technology
• Stretch Blow Molding
• Extrusion Blow Molding
• Thermoforming

By End Use Industry
• Food
• Beverages
• Bottled Water
• Carbonated Drinks
• Ready-to-Drink
• Sports Drinks
• Alcoholic Drinks
• Home care and Personal care
• Healthcare & Pharmaceuticals
• Chemical
• Others

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Key Questions Answered in the Survey of PET Container Jar Market Report:
• Sales and Demand of PET Container Jar Market
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• Insights of PET Container Jar
• Key Drivers Affecting PET Container Jar Market
• What are the key drivers impacting the PET Container Jar market?
• PET Containers Jar Market Research
• Restricting Market Growth Pet Containers Market

More Valuable Insights into PET Container Jars Market
Fact.MR provides unbiased market analysis of PET Bottles, Sales and Demand of PET Bottles by analyzing forecast statistics through 2019 and beyond in a new report. The study presents growth prospects based on various criteria.

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