PET Packaging Market Size to Grow at a CAGR of 4.5% in the Forecast Period of 2022-2027

The 'Global PET Packaging Market Share, Size, Price, Trends, Growth, Report and Forecast 2022-2027' by Expert Market Research gives an extensive outlook of the global PET packaging market, assessing the market on the basis of its segments like forms, packaging, filling technologies, end-users, and major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.

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The key highlights of the report include:

Market Overview (2017-2027)

• Forecast CAGR (2022-2027): 4.5%

PET packaging is strong, shatterproof, flexible, lightweight, and non-reactive, which makes the packaging more efficient and offers extra protection to sensitive pharmaceutical drugs, leading to a heightened growth of PET packaging market.

The growing expansion of the major end use industries of PET packaging, which include pharmaceuticals, food, and beverage, among others, is fuelling the market demand for PET packaging. There are increasing sales of medicines and drugs, supported by the increasing geriatric population and growing prevalence of chronic diseases, requiring PET packaging.

The increasing demand for household goods such as food products, cleaners, and kitchen products, are generating a demand for bottles, jars, bags, and pouches, which use PET as a major packaging component. Meanwhile, the increasing demand for clean-labelled food products, owing to the increasing footfall in supermarket and hypermarkets, rapid urbanisation, and increasing disposable income, is likely to provide impetus to the PET packaging market in the forecast period.

PET Packaging Industry Definition and Major Segments

PET packaging is a type of packaging which uses polyethylene terephthalate (PET), also known as polyester. A thermoplastic resin, PET possesses high strength, and is durable and lightweight, which makes it an ideal packaging component. PET packaging is used for diverse personal care and cosmetic products.

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Based on form, the market can be segmented into:

Amorphous PET
Crystalline PET

By packaging, the market has been divided into:

Bottles and Jars
Bags and Pouches
Trays
Lids/Caps and Closures
Others

On the basis of filling technology, the market has been categorised into:

Hot Fill
Cold Fill
Aseptic Fill
Others

Based on end-user, the market is divided into:

Beverages Industry
o Bottled Water
o Carbonated Soft Drinks
o Milk and Dairy Products
o Juices
o Beer
o Others
Household Goods Sector
Food Industry
Pharmaceutical Industry
Others

On the basis of region, the market can be categorised into:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

PET Packaging Market Trends

The key trends in the global PET packaging market include the burgeoning e-commerce industry which focusses heavily on efficient and attractive packaging for greater customer satisfaction. Hence, the increasing sale of cosmetics, pharmaceuticals, food and beverage products, and various domestic components, through online sales channels is a major market fuelling trend. The growing international trade of consumer goods via mobile applications, is further propelling the demand for PET packaging.

Additionally, PET packaging is environment friendly and poses less stress on the environment by using fewer natural resources. In this regard, the growing research and development activities by the major packaging companies to battle climate change and save energy in the packaging process are expected to provide impetus to the PET packaging market.

At a regional level, the Asia Pacific holds a leading segment of the market. This can be attributed to the strong presence of the manufacturing sector, increasing disposable income, and rise in demand for packaged products in countries such as India, China, Thailand, and Indonesia.

Key Market Players

The major players in the PET packaging market report are:

Amcor Plc
Berry Global Inc.
Graham Packaging Company
RPC Group
Resilux NV
Plastipak Packaging, Inc
Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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