The global PET packaging market was valued at US$ 61.9 Mn in 2023 exhibiting a CAGR of 7.7% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 104.1 Mn by 2030. PET packaging offers a a large number of advantages. For starters, it can be entirely recycled. The production process of PET packaging uses significantly less energy than other materials. Its low melting point also makes it less harmful for the environment. Additionally, it has an excellent capacity-to-weight ratio, meaning that it is able to accommodate a wide variety of products and packaging designs.
Covid-19 Impact on Global PET Packaging Market
The COVID-19 pandemic offered significant relief to single-use packaging vendors. Although many countries were slowly banning these types of packaging and promoting reusable packaging, the outbreak changed consumers and governments behavior. Due to the COVID-19 outbreak, the demand for nutritional drinks and healthy food increased exponentially. The majority of these products are packaged in single-use plastic, such as PET. The orders were so huge on a global level that the manufacturing and packaging companies in the field even expanded their facilities, which most governments also supported. Moreover, several suppliers of PET packaging raw materials have been declared essential business operations in some places. As a result, other countries are campaigning for the same recognition to keep their goods in demand. The market demand for PET pharmaceutical packaging manufacturers grown.
Global PET Packaging Market- Drivers
Global PET Packaging Market- Restraints
However, more practices towards Enviroment Friendly Packaging can Help market to grow.
Global PET Packaging Market- Segmentation
Figure 1: Global PET Packaging Market, By Packaging, 2023
To learn more about this report, request sample copy
On the basis of Packaging in 2023, the rigid segment has accounted for the largest market share of 77% in terms of value.
Global PET Packaging Market- Opportunities
PET Packaging Market Report Coverage
Report Coverage | Details | ||
---|---|---|---|
Base Year: | 2022 | Market Size in 2023: | US$ 61.9 Mn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 7.7% | 2030 Value Projection: | US$ 104.1 Mn |
Geographies covered: |
|
||
Segments covered: |
|
||
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: |
|
||
Restraints & Challenges: |
|
Uncover macros and micros vetted on 75+ parameters: Get instant access to report
Global PET Packaging Market- Trends
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 of Commercial Intelligence and Statistics (DGCIS) of India, the Indian plastics industry hosts more than 2,000 exporters.
Figure 2: Global PET Packaging Market, By Region, 2023
To learn more about this report, request sample copy
Global PET Packaging Market- Key Developments
Global PET Packaging Market- Key Players
Major players operating in the global PET packaging market include Amcor Ltd, Resilux NV, Gerresheimer AG, Berry Global Group Inc., Silgan Holdings Inc., Graham Packaging Company, and 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.
Share
About Author
Shivam Bhutani
Shivam Bhutani has 6 years of experience in market research and strategy consulting. He is a Market Research Consultant with strong analytical background. He excels in market estimation, competitive intelligence (competitive benchmarking & profiling), pricing strategy, and primary research. He is skilled at analysing large datasets to provide precise insights, helping clients in developing effective market entry and growth strategies.
Missing comfort of reading report in your local language? Find your preferred language :
Transform your Strategy with Exclusive Trending Reports :
Frequently Asked Questions
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients