PET Packaging Market Price 2020-2025 : Size, Share, Growth, Trends, Analysis, Outlook and Report

PET Packaging Market Price


Note 1:Note 1: For a snapshot of the primary and secondary data of the market (2015-2025)market (2015-2025), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hourswithin 24 hours


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The key highlights of the report include:


Market Overview (2015-2025)


Historical Market Size (2019): USD 65 billion

Forecast CAGR (2020-2025): 4.5%

Forecast Market Size (2025): USD 84.6 billion


The rising awareness of eco-friendly goods among the consumers and western impact are driving the PET packaging market. The growing demand for carbonated drinks and ready-to-eat food items worldwide is contributing to the growth of the PET packaging market. Its low manufacturing and shipping costs, minimal solid wastage and storage, and the ease of transport have made PET packaging a preferred option among the manufacturers. The growing R&D to develop recyclable packaging solutions and technological advancements have increased the demand for PET packaging. These factors are expected to drive the PET packaging market over the forecast period.


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Industry Definition and Major Segments


Polyethylene terephthalate, also known as PET, is a thermoplastic polymer resin of polyester. It can be moulded into a variety of packaging containers like boxes, pouches, and PET bottles. PET packaging is commonly used in packaging food and beverage items, in personal care products, and pharmaceutical products owing to its properties like thermal stability, non-breakability, and resistance to microorganisms.


Based on form, the PET packaging market can be broadly divided into:


Amorphous PET

Crystalline PET


By packaging, the market is segmented into:


Bottles

Bags and Pouches

Trays

Lids/Caps and Closures

Others


Based on the filling technology, the market is categorised into:


Hot Fill

Cold Fill

Aseptic Fill

Others


On the basis of end-user, the market is segmented into:


Beverage Industry

Household Goods Sector

Food Industry

Pharmaceutical Industry

Others


The major regional markets for PET packaging are:


North America

Europe

Asia Pacific

Latin America

Middle East and Africa


Market Trends


The key trend in the market is the production of lightweight bottles. Lightweight products are being preferred for cost-optimisation as they help manufacturers achieve a competitive edge. Government regulations across the world are promoting the usage of approved oxo-biodegradable materials for the production of packaging products. Manufacturers are trying to develop more sustainable products. More emphasis is being paid on the reusability and recyclability of the PET products due to environmental concerns. Recently, the U.S. based beverage giant Coca-Cola has announced the expansion of 2L returnable PET bottles in its South African division to help reduce plastic waste.


Key Market Players


The major players in the market are Amcor Plc, Berry Global Inc., Graham Packaging Company, RPC Group, Resilux NV (EBR: RES), and Plastipak Packaging, Inc., among 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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Note 2: Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.


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Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.


At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.


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