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PET Packaging Market Exhibiting Massive Growth; 5.04 % CAGR, Reaching $77.83 Billion by 2030

10-26-2022 01:43 PM CET | Energy & Environment

Press release from: Strategic Market Research

PET Packaging Market Exhibiting Massive Growth; 5.04 % CAGR,

The global PET Packaging Market in 2021 was USD 77.83 billion, and by 2030 it will be worth USD 121.16 billion, growing at a 5.04% CAGR during 2021-2030. PET is a kind of polyester, also known as polyethylene terephthalate. Packaging food and beverages, personal care products, and many other consumer goods are ejected or moulded into plastic bottles and boxes. PET is a caustic ethylene glycol polymer made from terephthalic acid. Warming up the PET pitch pellets creates a fluid that can be easily ejected into any shape.

PET Packaging Market Insights:
• In 2021 bottles and jars segment led the overall market with the largest market share of nearly 41% on the basis of pack type.
• On the basis of packaging, the rigid packaging segment contributed for a market share of approximately 56.3% in 2021
• On the basis of end-user, food and beverage ruled the overall PET Packaging market.
• Geographically, North America held a significant position with a market share of about 39.3% in 2021.

Make a Direct Purchase of the latest PET Packaging Market Report published in the month of Sep-2022. Click the below link to initiate the purchase:
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PET Packaging Market Dynamics
The high transparency and high-pressure resistance of PET are two key characteristics that are driving the global market's expansion. Additionally, PET has advantageous packaging qualities, including a shiny surface, lightweight, good stability, and good barrier properties, causing the global market to grow. Another driving reason for expanding the target market is the rising need for environmentally friendly packaging. Additionally, PET delivers a classy image and a unique appearance to the packaging, which is a driving force behind the global market expansion. The primary obstacle impeding the expansion of the target market is the severe laws and regulations prohibiting the use of plastic.

PET is a kind of polyester, also known as polyethylene terephthalate. Packaging food and beverages, personal care products, and many other consumer goods are ejected or moulded into plastic bottles and boxes. PET is a caustic ethylene glycol polymer made from terephthalic acid. Warming up the PET pitch pellets creates a fluid that can be easily ejected into any shape. The Worldwide PET Packaging Market in 2021 was USD 77.83 billion, and by 2030 it will be worth USD 121.16 billion, growing at a 5.04% CAGR during 2021-2030.

To get a first-hand overview of the report, Request a Sample at:
https://strategicmarketresearch.com/request-sample/pet-packaging-market

PET Packaging Market: Thorough Segmentation Analysis

The PET Packaging Market segmentation has been performed on the basis of packaging type, pack type, filling technology, End-user, and region.

By Packaging Type:
• Flexible
• Rigid

By Filling Technology:
• Hot Fill
• Cold Fill
• Aseptic Fill
• Others

By Pack Type:
• Bags and Pouch
• Bags and Pouches
• Trays
• Bottles & Jars

By End-User
• Consumer Goods
• Food & Beverage Consumer Goods
• Pharmaceuticals
• Other Industries

By Region
North America
• Mexico
• United States
• Canada

Europe
• Italy
• Germany
• Turkey
• Spain
• United Kingdom
• France
• Netherlands
• Russia
• Rest of Europe

Asia Pacific
• China
• India
• South Korea
• Australia
• Japan
• Rest of Asia Pacific

LAMEA
• Argentina
• Qatar
• Nigeria
• Morocco
• Egypt
• Brazil
• Saudi Arabia
• South Africa
• UAE
• Rest of LAMEA

In 2021 bottles and jars segment led the overall market with the largest market share of nearly 41% on the basis of pack type and will reach USD 55 million by 2030 at a CAGR of 5.8%. The expanding worldwide e-commerce industry has a big impact on the market's expansion. Many brands are utilizing PET more frequently because it is feasible from a logistics standpoint to distribute PET bottles and jars. Furthermore, because PET bottles are lightweight and do not require special handling, transportation costs are greatly reduced.

Geographically, North America held a significant position with a market share of about 39.3% in 2021. Due to the huge demand in its downstream industries, the United States is the world's largest consumer and producer of PET. The United States is increasingly exporting goods made of PET packaging. Additionally, the IBWA reports that in 2020, Americans consumed 15 billion gallons of bottled water, an increase of 4.2 percent from 2019. This is because the majority of bottled water is packaged in HDPE and PET plastic, which are the most recycled plastics in the world and are both 100 percent recyclable.

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Key players in PET Packaging Market:
• CCL Industries, Inc.
• Dunmore Corporation
• Clondalkin Group Holdings B.V
• Bischof + Klein SE & Co. KG
• Mondi Group
• Sealed Air Corporation
• Silgan Holdings
• Sonoco Products Company
• Smurfit Kappa Group
• Gerresheimer AG
• GTX Hanex Plastic Sp.z.o.o
• Novolex Holdings, LLC
• Rexam Plc
• Sonoco Products Company
• Smurfit Kappa Group
• Resilux
• Nampak Ltd
• Sealed Air Corporation
• Silgan Holdings
• ProAmpac
• SCHUR FLEXIBLES GROUP
• Graham Packaging Company
• Amcor plc

The PET Packaging Market was USD 77.83 billion in 2021 and will reach USD 121.16 billion by 2030, increasing at a 5.4% umer awareness for eco-friendly products, along with West, CAGR from 2021 to 2030. The primary reason for the expansion of the PET Packaging Market is rising consern influence.

To Know More Visit: https://www.strategicmarketresearch.com/market-report/pet-packaging-market

Contact Us:
Strategic Market Research LLP.
Sunil Kumar
India: +91-8260836500
Email: info@strategicmarketresearch.com
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