PET Packaging Market Trends and Forecast
The future of the global PET packaging market looks promising with opportunities in the food, beverage, personal care & cosmetic, household product, and pharmaceutical markets. The global PET packaging market is expected to reach an estimated $97.7 billion by 2030 with a CAGR of 5.4% from 2024 to 2030. The major drivers for this market are increased demand for bottled beverages, growth in the food & pharmaceutical industries, and shift towards lightweight & sustainable packaging.
• Lucintel forecasts that rigid packaging is expected to witness the higher growth over the forecast period.
• Within this market, food is expected to witness the highest growth.
• APAC is expected to witness highest growth over the forecast period.
United States: Companies like Coca-Cola and PepsiCo are investing in PET recycling infrastructure and setting targets to increase the use of recycled PET in their packaging. The government supports these initiatives through recycling incentives and regulations.
India: Packaging companies such as UFlex are developing innovative PET packaging solutions to meet the growing demand in the food and beverage sector. The government has set targets to reduce single-use plastic usage, driving the adoption of sustainable PET packaging.
Germany: Companies like Krones AG are focusing on lightweight PET packaging designs to reduce environmental impact and meet government sustainability goals. The government provides incentives for eco-friendly packaging initiatives and promotes PET recycling technologies.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
PET Packaging by Segment
The study includes a forecast for the global PET packaging by type, application, and region.
PET Packaging Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Rigid Packaging
• Flexible Packaging
PET Packaging Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Food
• Beverages
• Personal Care & Cosmetics
• Household Products
• Pharmaceuticals
• Others
PET Packaging Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of PET Packaging Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies PET packaging companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the PET packaging companies profiled in this report include-
• Amcor
• Gerresheimer
• PET Power
• Silgan
• Tetra Laval
• Alpha Group
• Plastipak
• CKS Packaging
• Exopackaging
• Greiner Packaging
Recent Development in the PET Packaging Market
Coca-Cola: Coca-Cola has announced a commitment to use 50% recycled PET in its plastic bottles by 2030. This initiative aims to reduce plastic waste and promote a circular economy in the beverage packaging industry.
Amcor: Amcor has introduced lightweight PET packaging designs that reduce material usage while maintaining product integrity. These designs align with sustainability goals by minimizing environmental impact throughout the packaging lifecycle.
Plastipak Packaging: Plastipak Packaging has developed sustainable PET packaging solutions, including recyclable bottles and innovative recycling technologies. This initiative reflects PlastipakÄX%$%Xs dedication to promoting circularity and environmental responsibility in PET packaging.
Indorama Ventures: Indorama Ventures has invested in PET recycling infrastructure to increase the use of recycled PET in its packaging products. This investment supports circular economy initiatives and reduces reliance on virgin PET materials.
Sidel Group: Sidel Group has launched innovative PET packaging solutions, such as lightweight bottles and barrier technologies, to enhance product protection and sustainability. These developments drive the evolution of PET packaging in the global market.
Features of the Global PET Packaging Market
Market Size Estimates: PET packaging market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: PET packaging market size by type, application, and region in terms of value ($B).
Regional Analysis: PET packaging market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the PET packaging market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the PET packaging market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the PET packaging market size?
Answer: The global PET packaging market is expected to reach an estimated $97.7 billion by 2030.
Q2. What is the growth forecast for PET packaging market?
Answer: The global PET packaging market is expected to grow with a CAGR of 5.4% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the PET packaging market?
Answer: The major drivers for this market are increased demand for bottled beverages, growth in the food & pharmaceutical industries, and shift towards lightweight & sustainable packaging.
Q4. What are the major segments for PET packaging market?
Answer: The future of the PET packaging market looks promising with opportunities in the food, beverage, personal care & cosmetic, household product, and pharmaceutical markets.
Q5. Who are the key PET packaging market companies?
Answer: Some of the key PET packaging companies are as follows:
• Amcor
• Gerresheimer
• PET Power
• Silgan
• Tetra Laval
• Alpha Group
• Plastipak
• CKS Packaging
• Exopackaging
• Greiner Packaging
Q6. Which PET packaging market segment will be the largest in future?
Answer: Lucintel forecasts that rigid packaging is expected to witness the higher growth over the forecast period.
Q7. In PET packaging market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the PET packaging market by type (rigid packaging and flexible packaging), application (food, beverages, personal care & cosmetics, household products, pharmaceuticals, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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