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  • Published On : Oct 2022
  • Code : CMI5290
  • Industry : Packaging
  • Pages : 170
  • Formats :

The global PET packaging market size was valued at USD 58.47 billion in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 5.45% from 2022 to 2030. The PET Packaging market is growing with the rising disposable incomes of the consumers. The increasing environmental concerns has also fueled the demand for this type of packaging. Growing demand for packaged foods and beverages will also increase the demand for PET. This material is widely used for bottles, jars, and other products. Additionally, there is increased demand in the healthcare industry for PET bottles. In some countries, the introduction of bottle banks provides incentives for consumers to return their plastic packaging for recycling. However, the growth of the market could be hindered by stringent government regulations.

Global PET Packaging Market: Regional Insights

The global PET packaging market is largely dominated by Asia Pacific. The region is home to a large consumer base and a high percentage of packaged foods and beverages are sold in PET packaging. The rising e-commerce sector in the region offers significant growth opportunities for the market. Moreover, the market for these products is expected to expand at a steady pace over the forecast period. Additionally, According to the Directorate General Commercial Intelligence and Statistics (DGCIS) of India, the Indian plastics industry hosts more than 2,000 exporters.

Europe is also accounted for the second largest market in the global PET packaging market and this is attributed to the increasing consumption of plastic in the region. According to RECOUP (RECycling of Used Plastics Limited), UK homes consume 13 billion plastic bottles every year, including beverage, milk, and toiletry bottles. PET is the most common type of plastic bottle. Also, in one of their reports, the House of Commons recommends that the government compel the use of 50 percent recycled polyethylene terephthalate (rPET) in new plastic bottles by 2023 at the latest.

Figure 1. Global PET Packaging Market Value Share (%), By Region, 2021

PET Packaging  | Coherent Market Insights

Global PET Packaging Market Drivers:

Excellent properties of PET such as high transparency, good stability, shiny surface, high-pressure resistance, lightweight, and good barrier properties is driving growth of the  PET packaging market. Moreover, this material is biologically inert that does not react with foods or beverages and is also resistant to attack by microorganisms. Furthermore, it has been thoroughly reviewed and approved as safe for contact with foods and drinks by FDA, Health Canada, the European Food Safety Authority, and other health-safety agencies.

Growing demand for environmental friendly packaging solution is again augmenting growth of the market. According to Bleher Folientechnik, PET leads to a 60% energy savings compared to the energy requirements for producing new plastics. Moreover, it is recycle-friendly as its polymer chains break down at a low temperature, creating minimal polymer chain degradation during the recycling process. According to the Food Packaging Forum Foundation, 822,363 ton of PET bottles is collected in the United States for recycling annually.

Global PET Packaging Market Opportunities:

Increasing merger and acquisition in the PET packaging market is projected to provide lucrative growth opportunities for the key players in the market. For instance, in June 2022, Ara Partners ("Ara"), a private equity firm that specialises in industrial decarbonisation investments, announced that it has acquired Petainer Ltd. ("Petainer" or the "Company"), a UK-based, global producer of sustainability-focused beverage packaging solutions.  Petainer was acquired by Ara in partnership with Petainer management and affiliates of Next Wave Partners LLP.

Expanding food &beverage packaging industry coupled with the growing demand for ready-to-eat food and drink is again projected to serve major growth opportunities.

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PET Packaging Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 58.47 Bn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 5.45% 2030 Value Projection: US$ 90 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Bottles and Jars, Bags and Pouches, Trays, Lids/Caps and Closures, Other Product Types
  • By Packaging: Rigid, Flexible
  • By End-User Industry: Oil and Gas, Food and Beverage, Pharmaceuticals, Personal care and cosmetic industry, Industrial goods, Household Products, Other End-user industries
Companies covered:

Amcor Ltd, Resilux NV, Gerresheimer AG, Berry Global Group Inc., Silgan Holdings Inc., Graham Packaging Company, GTX Hanex Plastic Sp. z o.o., Dunmore Corporation, Comar LLC, Sonoco Products Company, Huhtamaki OYJ, and Nampak Limited

Growth Drivers:
  • Excellent properties of PET
  • Growing demand for environmental friendly packaging solution
Restraints & Challenges:
  • Increasing regulations regarding the usage of plastic
  • lack of infrastructure facilities for plastic recycling

Global PET Packaging Market Trends:

Worldwide, the recycling trend of PET is increasing with government mandates and industry initiatives. The United States PET recycling rate increased from 29%, as per the NAPCOR (National Association for PET Container Resources) and APR (Association of Plastic Recyclers). Toronto also recycles around 3,600 metric ton of single-use PET bottles every year, out of which 30% are water bottles.

The ongoing developments in polymer science are growing. This may significantly impact plastic bottle packaging. Companies such as Gerresheimer and Berry Plastics, with their R&D activities, are projected to play an important role in discovering innovative and novel packaging solutions that provide higher value than the existing products, such as active packaging and intelligent.

Global PET Packaging Market Restraints:

Increasing regulations regarding the usage of plastic in some regions is projected to hamper the market growth. For instance, The EU Commission is considering the general ban on plastic packaging, which is expected to constrain market growth. In March 2020, the UK Chancellor of the Exchequer declared that the plastic packaging tax (created to encourage the use of more recycled plastic from April 2022) would be levied on packaging made of less than 30% recycled plastic. The chancellor anticipates that the law would gather EUR 200 per ton.           

Lack of infrastructure facilities for plastic recycling is another key factor expected to hinder the market growth.                       

Figure 2. Global PET Packaging Market Value Share (%), By Origin, 2021

PET Packaging  | Coherent Market Insights

Global PET Packaging Market Segmentation:

The global PET Packaging market report is segmented into product type, packaging, end-user industry, and geography

Based on product type, the market is segmented into Bottles and Jars, Bags and Pouches, Trays, Lids/Caps and Closures, and Other Product Types. Out of which, Bottles and Jars is expected to dominate the global market over the forecast period and this is attributed to the growing demand from e-commerce industry. PET is used to make lightweight bottle and jars make it easier for shipping and transportation purposes. PET is lightweight, strong, clear, and economical, and hence it is highly used for manufacturing various types of bottles and jars for wide range of applications.

Bags and Pouches segment is also expected to witness significant growth in the near future and this is owing to the growing demand from personal care and cosmetic industry. PET is widely used in the packaging of beauty and personal care products such as hair oil sachets, shampoo sachets, hair color sachets, among various other products.

Based on packaging, the market is segmented into Rigid and Flexible. Out of which, Rigid is expected to dominate the global market over the forecast period and this is attributed to the growing demand from food & beverage industry where it is used to pack food in bowls, containers, and bottles

Based on end-user industry, the market is segmented into Oil and Gas, Food and Beverage, Pharmaceuticals, Personal care and cosmetic industry, Industrial goods, Household Products, and Other End-user industries. Out of which, Food and Beverage is expected to dominate the global market over the forecast period as it is a most prominent consumers of PET packaging. They are used to pack convenience-sized soft drinks, juices, and water

Pharmaceuticals segment is also expected to witness significant growth in the near future. Plastic resins, such as PP, PE, PET, PS, PVC, and bioplastic, are extensively used for producing pharmaceutical vials, bottles,  pouches, syringes, closures, cartridges, sachets, tubes, and blister packs.

Global PET Packaging Market: Key Developments

  1. In December 2020, Amcor launched a new hot-fill polyethylene terephthalate (PET) bottle for Colombia's Nutrea/Frudelca's Frupro protein juice. PET heat-set technology from Amcor enables beverages to be filled at temperatures as high as 185°F (85°C), ensuring product quality and shelf life.
  2. In November 2020, Amcor launched a lightweight 900-ml polyethylene terephthalate (PET) bottle for edible oil in Brazil. It is a custom-designed container for agribusiness and food producer Bunge in São Paulo, which is 22% lighter than competitive bottles while providing greater productivity and increased sustainability benefits.
  3. In April 2020, Amcor launched a family of stock polyethylene terephthalate (PET) bottles that help co-packers meet the demanding requirements for e-commerce-ready packaging. The bottles increase capacity and reduce downtime as they have the same diameter and finish. However, the height changes to accommodate the varying fill volumes.
  4. In February 2020, Amcor partnered with British start-up Garçon Wines, to make a sustainable PET flat wine bottles available to the US market.
  5. In April 2021, Resilux announced a major new technology investment which will result in them doubling their bottle-to-bottle PET recycling capacity. Using state of the art equipment from Erema, it is Resilux’s latest step in their drive to create a truly circular economy in PET. The equipment is expected to be installed at the company’s Bilten location in Switzerland where the Resilux Group Recycling competence center is based.

Global PET Packaging Market: Key Companies Insights

The global PET Packaging market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global PET Packaging market are Amcor Ltd, Resilux NV, Gerresheimer AG, Berry Global Group Inc., Silgan Holdings Inc., Graham Packaging Company, GTX Hanex Plastic Sp. z o.o., Dunmore Corporation, Comar LLC, Sonoco Products Company, Huhtamaki OYJ, and Nampak Limited

*Definition:

Polyethylene terephthalate (PET) is a popular material for packaging. Its high performance and low cost make it ideal for many applications. Some of these applications include water bottles, juice bottles, and carbonated soft drinks. This material is also a great option for a replacement for glass and metal containers. PET is a fully recyclable plastic.

PET packaging is used to package beverages such as juice, milk, and dairy products, and is used in the packaging of consumer products. In addition to beverage packaging, PET is used to package food, cosmetics, pharmaceuticals, and household cleaning detergents.

Market Dynamics:

Growth in the PET packaging market is expected to be driven by increasing consumer awareness regarding environmentally-friendly products. Western influence is also driving the demand for customized packs in a variety of sizes. In addition, manufacturers are using packaging as a marketing tool to promote their products and brands. Moreover, the young population is prone to consume ready-to-eat foods and carbonated beverages.

On contrary, strict regulations regarding the usage of plastic in some regions is projected to hinder the market growth.

Key features of the study:

  • This report provides in-depth analysis of the global PET packaging market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global PET packaging market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Amcor Ltd, Resilux NV, Gerresheimer AG, Berry Global Group Inc., Silgan Holdings Inc., Graham Packaging Company, GTX Hanex Plastic Sp. z o.o., Dunmore Corporation, Comar LLC, Sonoco Products Company, Huhtamaki OYJ, and Nampak Limited
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global PET packaging market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global PET packaging market

Detailed Segmentation:

  • Global PET Packaging Market, By Product Type:
    • Bottles and Jars
    • Bags and Pouches
    • Trays
    • Lids/Caps and Closures
    • Other Product Types
  • Global PET Packaging Market, By Packaging:
    • Rigid
    • Flexible
  • Global PET Packaging Market, By End-User Industry:
    • Oil and Gas
    • Food and Beverage
    • Pharmaceuticals
    • Personal care and cosmetic industry
    • Industrial goods
    • Household Products
    • Other End-user industries
  • Global PET Packaging Market, By Geography:
    • North America
    • Europe
    • Asia-Pacific
    • Latin America
    • Middle East & Africa
  • Company Profiles:
    • Amcor Ltd
    • Resilux NV
    • Gerresheimer AG
    • Berry Global Group Inc.
    • Silgan Holdings Inc.
    • Graham Packaging Company
    • GTX Hanex Plastic Sp. z o.o.
    • Dunmore Corporation
    • Comar LLC
    • Sonoco Products Company
    • Huhtamaki OYJ
    • Nampak Limited

Frequently Asked Questions

The global PET Packaging market size is estimated to be valued at US$ 58.47 Billion in 2021 and is expected to exhibit a CAGR of 5.45% between 2022 and 2030.
Excellent properties of PET and growing demand for environmental friendly packaging solution are fuelling the growth of the market.
The Rigid packaging segment is the leading component segment in the market.
Increasing regulations regarding the usage of plastic and lack of infrastructure facilities for plastic recycling are the major factors restraining growth of the market.
Amcor Ltd, Resilux NV, Gerresheimer AG, Berry Global Group Inc., Silgan Holdings Inc., Graham Packaging Company, GTX Hanex Plastic Sp. z o.o., Dunmore Corporation, Comar LLC, Sonoco Products Company, Huhtamaki OYJ, and Nampak Limited

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