ID: MRFR/PNT/1247-HCR | February 2021 | Region: Global | 129 pages
Globally, it has been found that the pet packaging market grows at a CAGR value of nearly equal to 5% during the market forecast period of 2028 to 2023.
Polyethylene terephthalate is a polymer that can be given particular shapes and boxes where it is helpful for packaging refreshments along with food items, some personal care products, and some of the products related to the users. The pet industry has spread its wings among the regional and some of the local vendors. The international key players have also benefited. More competition among the market players has been taking place due to the rise in availability and the rise in more innovative products.
The outbreak of the pandemic leads to the shutting up of manufacturing units. It affected the nationwide people. COVID affected the supply chain and has affected the consumer base. The improvement of lockdown and shutdown affected the trade movements which hindered the development of the regions. The government has done its best to make the industries survive at their best in the tough Covid times.
Some of the market players operating in the market areas during the market forecast period are
Here the competition among the competitors has increased concerning portfolio and the rise in pricing activities. Several expansion activities have been experienced during the market forecast period and are followed by launching new products by developing new products.
Investing much more amount on foreign services along with the set up of more industries in the emerging countries. Globally, it has been found that the plastic industry is experiencing a little shift in production ranging from conventional to advanced techniques. The pet packaging industry is the most advanced driven application industry which is very much popular for its upsurge in the growth of pharmaceuticals along with rising in growth in food and beverages and demand of users goods. It has been marked that food and beverages have become the most popular and dominating industry due to the growth in demand for packed food products throughout the globe. The pet packaging market growth is spurred up due to its high demand in the healthcare industry to a great extent, followed by the food and beverage industry.
Arise in availability and introducing more packed products raises the opportunity of the market. An increase in the growth of packed food products raises the market growth and thus augments the opportunity for growth in the market. With the rise in clarity and increase in natural barrier properties of carbon dioxide, the pet is widely used in various fields which raises the growth opportunity of the market. Pets can be easily blown into the bottles or can be transformed easily in the form of a sheet.
adopting pets leads to the reduction in weight by up to 90% rings up the challenging factor for pet packaging market size. Plastic bottles made from pets have started replacing heavy and fragile glass bottles which is another challenging factor.
The absence of a perfect labor force hinders market growth. The unavailability of raw materials hampers the market size and affects the industry’s production.
Globally, the pet packaging industry is classified based on form, pack type, type of packaging and its methods, and the end-use industries. It is also segmented into regions. As per the form, the pet packaging market is being classified into amorphous PET and PET which is crystalline. The market is most demanded and it is dominated by the amorphous PET till the end of 2023. The increase in durability, its water-resistant user rise segment, and its high adhesive strength are the boosting up factors promoting the market size. As per the packaging type, the industry is being segmented into rigid packaging which also includes flexible packaging methods. Flexible packaging is mostly preferred due to it having some of the extraordinary features as compared to rigid packaging. The features include a small amount of packaging which involves the usage of small packaging materials so used, a small number of solid packaging materials, a small number of shipping costs which requires less storage space.
Moreover, this type of packaging method is environmentally friendly, which is increasing the demand for the product. Flexible packaging method is very much benefitted for value chain analysis which consists of manufacturers, some of the retailers and the users. In the case of manufacturers, the flexible pet packaging method is useful for regulating the energy intake, consisting of different features, consists of shapes, and graphics, and substituting the shelf life which acts as remarkable forces promoting up the evolution of the pet packaging market share. As per the pack type, the industry is being classified into bottles and jars, bags along with pouches, trays, lids segment, caps and some kind of closures, and many more. Bottles and jars occupy the huge pet packaging market share in 2016, where it occupies a remarkable growth during the market forecast period. Bottles and jars are mostly preferred as they are safe, more lightweight, bendable, and are more recyclable. During harsh conditions, polyethylene terephthalate has excellent finishing like moisture, high temperature, and the growth in humidity. PET packaging is mostly preferred over by the food industry as it protects the food, keeps it fresh, and which helps in raising the shelf life of the products.
The invention of new innovative products has recognized the potentiality of the consumer and has helped in the demonstration of the exciting products. Due to technology, pets offer reusable packaging for mineral water and other such beverages. Several developments and new market trends about how to use the products can be learned from the technology. Moreover, technology-led in improving the properties of PET by adding some of the colorants, scavengers, some elements that act as an oxygen barrier, elements that act as UV blockers, and many more.
Globally, the market and the industry have been segmented into the various dominating regions, like North America, Asia Pacific, some of the European regions, and some regions in the rest of the world. In 2026, the Asia Pacific region is occupying a huge position occupying a large pet packaging market value during the market forecast period of 2017-2023. An increase in urbanization rate along with industrialization, low cost of labor, and the high scope of directly investing in foreign regions bring an economic evolution in developing countries. Here excellent demand and growth took place in the food and every industry, pharma industry, cosmetics along with construction, and healthcare industry. The Pet packaging industry plays a vital role in these fields. Europe and some of the North American regions have occupied the second and third positions all over the market. These regions cover a market share inn2016. The rise in per capita disposable income facilities, along with giving many preferences to consumer goods, brings a positive impact on the pet packaging market size in the regions of Europe and North America.
The report gives a clear vision of the market scenario. It also signifies the impact of COVID on the market. It gives information about the recent developments taking place as per the technology. It gives information about the growth factors that will help in driving up the market. It signifies the challenging factors and the factors that will restrain the market growth and its development. It signifies the increase in productivity and the gain in its sustainable benefits.
|Market Size||2030: Significant Value|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Form, Pack type, Packaging Type, End-use industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||E. I. Du Pont De Nemours and Company (U.S.), CCL Industries, Inc. (Canada), Amcor Limited (Australia), Resilux NV (Belgium), Smurfit Kappa Group PLC (Ireland), Rexam PLC (U.K.), Gerresheimer AG (Germany), Graham Packaging Company (U.S.), Klöckner Pentaplast GmbH & Co. Kg (Germany), GTX Hanex Plastic Sp. Z O.O. (Poland), Berry Plastics Group Inc. (U.S.), Dunmore Corporation (U.S.), Huhtamäki Oyj (Finland), PET Power B.V. (The Netherlands), and Silgan Holdings (U.S.)|
|Key Market Opportunities||Availability and introduction of innovative products|
|Key Market Drivers||Increasing demand for packaged food items from all across the globe|
Frequently Asked Questions (FAQ) :
The PET packaging market can thrive at 5% CAGR by 2023.
The PET packaging market can achieve s decent valuation by 2023.
Huhtamäki Oyj (Finland), Dunmore Corporation (U.S.), and PET Power B.V. (The Netherlands) are some major companies in the PET packaging market.
PET packages are recyclable. This benefit can prompt the PET packaging market expansion.
North America PET packaging market can attain high revenue due to launch of innovations.
As per the end-user segment, the market is divided into food and cosmetics, some personal care products, some household products, pharma products, and many more. It was noted that the food and beverage segment occupies a high PET packaging market share in the year 2016, and it grows at a high CAGR pet packaging market value during the forecast period. Differently in consumer preferences, the use of healthy packaging food products is spurring up the business of the pet market. Here the food and beverage segment attains a high growth.