The PET Packaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s PET Packaging Global Market Report 2024, The pet packaging market size has grown strongly in recent years. It will grow from $74.77 billion in 2023 to $78.89 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to rise in beverage consumption, popularity in food packaging, growth in global population, shift from glass and metal packaging, convenience and portability, rise in single-serve packaging..
The pet packaging market size is expected to see strong growth in the next few years. It will grow to $99.35 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to economic considerations, regulatory support for pet recycling, focus on circular economy, shift to lightweight packaging, customization and branding, eco-friendly initiatives by brands, health and safety considerations.. Major trends in the forecast period include growing adoption of post-consumer recycled (pcr) pet, innovations in barrier properties, emphasis on shelf appeal and design, e-commerce packaging solutions, smart packaging and track-and-trace technologies, convenience features in pet packaging..
The emerging e-commerce industry across the globe is expected to propel the growth of the PET packaging market going forward. E-commerce (electronic commerce) refers to the purchasing and selling of goods and services, along with the transmission of payments and data, over an electronic network, primarily on the internet. PET packaging helps the e-commerce industry with the packing of food and beverage products. For instance, according to the US Department of Commerce, the executive department of the U.S. federal government, concerned with economic growth and opportunity, in the first quarter of 2022, retail e-commerce sales increased by 2.4 % as compared to the first quarter of the previous year, 2021, which was valued at $250.0 billion. Therefore, the emerging e-commerce industry across the globe is driving the growth of the PET packaging market.
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The pet packaging market covered in this report is segmented –
1) By Packaging Type: Rigid packaging, Flexible packaging
2) By Pack Type: Bottles and jars, Bags and Pouches, Trays, Lids or Caps and Closures, Other Packs (cups and clamshells)
3) By Filling Technology: Hot fill, Cold fill, Aseptic fill, Other Technologies (counter-pressure, low vacuum gravity, high vacuum gravity, and positive pressure)
4) By End-Use Industry: Food, Beverages, Personal Care and Cosmetics, Household Products, Pharmaceuticals, Other End-Use Industries (industrial goods and consumer durables)
Top Major Players
Amcor Limited
Resilux NV
Gerresheimer AG
Berry Global Group Inc.
Silgan Holdings Inc.
Technological advancement is a key trend gaining popularity in the PET packaging market. Major companies operating in the PET packaging market are developing new products with advanced technologies to strengthen their position in the PET packaging market. For instance, in February 2022, IonKraft, a Germany-based start-up company operating in PET packaging introduced plasma technology, to make plastic packaging for barrier applications in the chemical industry recyclable, and thus replace the present multi-material solutions.
The pet packaging market report table of contents includes:
1. Executive Summary
2. PET Packaging Market Characteristics
3. PET Packaging Market Trends And Strategies
4. PET Packaging Market – Macro Economic Scenario
5. Global PET Packaging Market Size and Growth
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31. Global PET Packaging Market Competitive Benchmarking
32. Global PET Packaging Market Competitive Dashboard
33. Key Mergers And Acquisitions In The PET Packaging Market
34. PET Packaging Market Future Outlook and Potential Analysis
35. Appendix
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