PET Packaging Market Research Report Information Report by End-user Industry (Food, Beverages, Pharmaceuticals, Cosmetics, Household goods and others), by Product (Bags, Bottles, Closures, Trays, Cups and others), by Type (Amorphous and Crystalline) and by Region - Forecast 2030

PET Packaging Market Overview

PET packaging market outlook report shows the market value was USD 55.52 billion in 2020, and it is expected to reach USD 121.2 Billion by 2030 and its CAGR rate of 4.90% in the forecast period.

Increasing demand for PET packaging in food sectors, pharmaceuticals, cosmetics, and many more sectors is expected to fuel the market. The great advantage of this material is increasing the market size. The PET material is unbreakable, and it helps during the transportation of products and while filling. Even with the damage, there will be no injuries because PET materials are not harmful.

Covid-19 analysis

Almost all the sectors around the world went through a bad phase due to the covid-19 pandemic. The global economy was down because of the covid-19 outbreak. Production work was on a halt due to the lockdown and social distancing guidelines around the world. The labor shortage caused a major problem in the production of products. Due to all these, the food sectors, personal care sectors, and other seconds were affected. Due to low production, the packaging of products also decreased. Companies didn’t produce new products due to lack of demand, and as a result, the PET packaging market suffered. Apart from that, there was also good news for the market, as many pharmaceutical companies were producing a large number of medicines to meet the consumer demands, the use of PET packaging in pharmaceutical sectors increased. Due to that, there was a positive impact of covid-19 on the market as well. But overall, the demand and growth of the market trends were slow. The key players played a vital role in keeping the demand high during the Covid-19 situation.

Competitive landscape

List of the major key companies in the PET packaging market are:

• E. I. Du Pont De Nemours and Company (U.S.), 


• CCL Industries, Inc. (Canada), 


• Amcor Limited (Australia),


• PET Power B.V. (The Netherlands), 


• Gerresheimer AG (Germany), 


• 
  Graham Packaging Company (U.S.),


• Silgan Holdings (U.S.).


• Resilux NV (Belgium), 


• Klöckner Pentaplast GmbH & Co. Kg (Germany), 


• GTX Hanex Plastic Sp. Z O.O. (Poland),


• Berry Plastics Group Inc. (U.S.),


• Smurfit Kappa Group PLC (Ireland),


• Rexam PLC (U.K.), 


• 
  Dunmore Corporation (U.S.),


• Huhtamäki Oyj (Finland)

PET Packaging Market Dynamics

There are many reasons due to which the PET packaging industry sees huge growth, and these reasons are called market drivers. Market drivers boost the growth of the market like there are some restraints that block the market growth.

Market drivers

Growing demand for eco-friendly products around the globe is one of the major drivers of the PET packaging market. All the Industries using packaging to keep their products safe and supply to the market. These Industries are using PET packaging for the transportation of food products, cosmetics, personal care products, and many more to reach their customers. With the increasing demand for safe and cost-effective packaging, the market is growing rapidly, and additionally, increasing demand for packaged foods, carbonated beverages, and ready-to-eat products in young people across the globe, driving the market. PET packaging comes in various sizes, shapes, colors, and designs, and it can provide an attractive look. Due to this reason, many brands are adopting PET packaging to lure their customers, and it’s causing market growth. Also, the water pollution concern has increased the demand for bottled water, and it is fueling the market growth.

Market opportunities

Brands are adopting more transparent materials with great colors and design packaging. And it is creating new opportunities for the PET packaging market. Additionally, the trend of using lightweight, safe, sustainable packaging is bringing new opportunities for the market. PET materials are very safe for food packaging, and it doesn’t cause any harmful effects on the body, and that’s why the market will see a huge rise in the demand.

Market restraints

Plastic is majorly used around the globe since the 1940s, and the lifespan of plastic is nearly 1000 years. The usage of plastic is now a big concern for the world, and it is expected the plastic will create huge environmental problems. Due to this, plastic has been banned in some regions. And it has become a major PET packaging market restraint. The government in many regions is taking initiatives to get rid of plastic materials and to stop the production of plastic materials, and it is hampering the market revenue.

Market challenges

One of the major challenges in the PET packaging market is the fear of climate change. As excess of plastic is causing major climate problems and many experts are asking to stop the use of plastic, that is why it has become a major market challenge. The market is trying to overcome the challenge by producing less harmful plastic. The market key players and market key players are trying to overcome these challenges. PET packaging Industry is also facing challenges like other Industries, but it is expected to see huge growth in its demand in the forecast period.

Cumulative growth analysis

The rapid growth of the use of PET packaging across all Industries will fuel market growth in the coming years. Many brands and companies are using PET packaging to sell their products because PET packaging provides safety, it is lightweight, and it is available in so many colors and designs. PET packaging market value was $55.52 billion in 2020, and it is expected to reach $72.2 billion by 2026 and its CAGR rate of 5% in the forecast period.

Market segmentation

The PET packaging market segments are on the basis of packaging type, end-use Industry, pack type, filling technology, and region.

• By packaging type- On the basis of packaging type, the market is divided into rigid packaging and flexible packaging.


• By end-use Industry- By end-use Industry type, the market is segmented into food, beverages, household products, personal care & cosmetics, pharmaceuticals, and others. Among them, the beverage segment dominates the market.


• By pack type- One the basis of pack type, the market is segmented into bottles & jars, bags & pouches, trays, lids or caps, and others. Among these, PET packaging is largely used in bottles.


• By filling- By filling, the market is further divided into hot fill, cold fill, aseptic fill, low vacuum gravity, high vacuum gravity, and others.


• By regions- By regions, the market is segmented into North America, Europe, Asia Pacific, and the rest of the world.

Regional analysis

The major regions of the market are North America, Europe, Asia Pacific, and the rest of the world. The demand for PET packaging in North America is huge, and it holds the highest market Share in the market, according to PET packaging market analysis. The Increasing demand for plastic-made containers in industrial applications is driving the growth of the market in this region. According to the plastic Industry association, the demand will rise in the United States. In North America, plastic packaging is used in food and beverage, household, pharmaceuticals, chemicals, fluids, automotive sectors. The wide application of PET packaging in all sectors is driving the growth of the market in this region. The Asia Pacific will see faster growth of the market due to the Increasing population and rising eco-friendly plastic products in this region.

PET is also known as polyethylene terephthalate, and it is a type of polyester that is shaped into plastic boxes or jugs for packaging food, refreshments, personal care, and other products. Pellets of PET are warmed that can be turned into any shape. PET is a solid material, but it is lightweight, shatterproof, sparing. PET is used for individual care, pharmaceuticals, refreshments, and to restore products around the globe. PET is manufactured through the process of polymerization of ethylene glycol and terephthalic acid. This material is very safe to use, clear, lightweight, and strong plastic widely used for packaging purposes, making jars, bottles, and other products. As it is a safe material, so it doesn’t affect the food products, and it keeps the freshness of various food products, and that’s why it is used to manufacture jars, carbonated drinks, and soft drinks.

PET is also commonly used to package peanut butter, cooking oil, salad dressings and personal care products, shampoo, hand soap, and other cosmetic products. PET packaging properties are preferable among the other packaging technologies. PET packaging gives so many advantages such as high transparency, good stability, high-pressure resistance, and lightweight. The transparency of the PET packaging gives a great appearance and image. The labeling solutions in PET packaging give a more attractive look. There are various designs that can be formed in PET packaging with minimal cost, and that is why PET packaging has huge demand worldwide.

Recent developments