Our comprehensive research on the Global PET Packaging Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global PET packaging market size was US$ 63.1 billion in 2021. The global PET packaging market is forecast to grow to US$ 105.6 billion by 2030 by growing at a compound annual growth rate (CAGR) of 4.1% during the forecast period from 2022 to 2030.
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Polyethylene terephthalate (PET) is a type of polyester used to pack food, personal care items, etc. PET materials are considered better as they offer enhanced transparency, shiny surface, and good stability. Moreover, they are lightweight and possess high-pressure resistance, which makes them suitable for packing products.
Factors Influencing the Market
- The rising demand for packed foods, cosmetics, and other products is driving the growth of the PET packaging industry. In addition, the introduction of lightweight packaging options will offer ample growth opportunities for the global PET packaging market.
- Manufacturers of goods are focusing on lowering manufacturing and transportation costs. As a result, it will benefit the PET packaging industry.
- The rising urban population and growing inclination of the population towards packed food items are likely to drive the growth of the PET packaging industry.
- Fluctuations in the prices of raw materials may limit the growth of the PET packaging market during the forecast period.
- The growing demand for a better recyclable options is forecast to offer ample growth opportunities for the PET packaging market growth. For instance, the renowned ice cream brand Magnum made headlines in January 2021 as the company announced to use of recycled plastic. Such advancements are likely to benefit the overall PET packaging market.
Regional Analysis
North America is forecast to dominate the global PET packaging market in terms of revenue. The growth of the market is attributed to the rising e-commerce industry and increasing demand for packed food products. Asia-Pacific is forecast to register favorable growth in the global PET packaging market, owing to the changing consumer preferences and rising urban population. In addition, the availability of raw materials at low prices and low cost of production is likely to drive the growth of the industry. Because of their benefits over traditional packaging polymers, the usage of PET goods in the packaging sector is rapidly expanding in these regions. Furthermore, rising exports and domestic consumption will further propel the market forward.
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Competitors in the Market
- Alpha Group
- Amcor plc
- Berry Global Inc.
- CKS Packaging
- Comar LLC
- Gerresheimer AG,
- Graham Packaging Company
- GTX HANEX Plastic Sp. z o. o.
- Nampak Limited
- PET Power
- Plastipak
- RESILUX NV
- Silgan
- Sonoco Products Company
- Tetra Laval
- Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the PET Packaging industry experienced notable growth in its workforce. Starting in January, employment within the PET Packaging sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global PET Packaging output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global PET Packaging output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global PET Packaging market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the PET Packaging market.
Market Segmentation
The global PET packaging market segmentation focuses on Product, Packaging, End-Use Industry, and Region.
Based on Product
- Amorphous PET
- Crystalline PET
- Based on pack type
- Bottles & jars
- Bags & pouches
- Trays
- Lids/Caps & closures
- Others
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Based on Packaging Type
- Rigid
- Flexible
Based on End-Use Industry
- Food & Beverages
- Household Products
- Personal Care Products
- Pharmaceuticals
- Others
Based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global PET Packaging Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global PET Packaging Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global PET Packaging Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global PET Packaging Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level PET Packaging market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the PET Packaging market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of PET Packaging business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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