According to IMARC Group’s latest report, titled “PET Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global PET packaging market reached a value of US$ 66.9 Billion in 2019. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.6% during 2020-2025 and reach a value of US$ 87.7 Billion by 2025.
Polyethylene terephthalate (PET) is a polyester type that can be shaped into various packaging containers. It is manufactured by melting pellets of PET resin and extruding molten liquid into desirable shapes. The packaging is thermally stable, durable, unbreakable, and resistant to microorganisms, which prevents the content from degrading and ensures sustained quality. It also provides high dimensional stability and resistance to moisture, solvents, and alcohols, along with moderate resistance to diluted alkalis and halogenated hydrocarbons. As a result, it finds applications for the packaging across various industries, ranging from food and beverages, personal care to pharmaceuticals.
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Market Growth Drivers:
The rising awareness for eco-friendly products is primarily driving the PET packaging market growth. Additionally, the increasing demand for customized and different-sized packaging for consumer convenience and brand differentiation further augments the demand for PET packaging. Moreover, the growing consumption of packed beverages and ready-to-eat food products also acts as a growth-inducing factor. The widespread product adoption due to low production and shipping costs, minimal solid waste and storage requirements, and ease of transportation further impel the market growth. Furthermore, extensive research and development (R&D) activities for producing reusable and recyclable packaging solutions and the advent of plasma-based coating to make bottles more impervious also contribute to the PET packaging market growth.
PET Packaging Market 2020-2025 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the PET packaging market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Amcor
Berry
Graham Packaging Company
Dunmore Corporation
Huhtamäki
Resilux
Dupont
Silgan Holdings
GTX Hanex Plastic
Comar
Sonoco
Nampak
CCL Industries
Smurfit Kappa Group
Rexam
The report has segmented the global PET packaging market on the basis of packaging type, form, pack type, filling technology, end user and region.
Market Breakup by Packaging Type:
Rigid Packaging
Flexible Packaging
Market Breakup by Form:
Amorphous PET
Crystalline PET
Market Breakup by Pack Type:
Bottles and Jars
Bags and Pouches
Trays
Lids/Caps and Closures
Others
Market Breakup by Filling Technology:
Hot Fill
Cold Fill
Aseptic Fill
Others
Market Breakup by End-User:
Beverages Industry
Bottled Water
Carbonated Soft Drinks
Milk and Dairy Products
Juices
Beer
Others
Household Goods Sector
Food Industry
Pharmaceutical Industry
Others
Market Breakup by Region:
Asia Pacific
North America
Europe
Middle East and Africa
Latin America
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Key highlights of the report:
Market Performance (2014-2019)
Market Outlook (2020- 2025)
The Impact of COVID-19 on the Global Market
Market Drivers and Success Factors
Value Chain
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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