PET Packaging Market – Overview
PET (polyethylene terephthalate) packaging has gained prominence in recent years. PET packaging was initially used for packaging soft drinks, but their usage has expanded to a wide range of packaging application. Market Research Future (MRFR) has launched a comprehensive report on the global PET packaging market, which is backed by historic data as well as forecast for the period of 2018-2023. MRFR has projected a CAGR of 5% in the PET packaging market.
The PET packaging market growth is substantiated by the expansion of key end-use industries, which include food & beverages, pharmaceuticals, cosmetics, personal care, and consumer goods. PET packaging offers various advantages over other packaging solutions. They provide enhanced protection from spoilage and aid in the retention of the attributes such as taste, aroma, texture, and look. Stringent government regulations pertaining to food safety have propelled the demand for PET packaging. Additionally, the development of advanced packaging techniques is likely to augur the growth of the market. However, volatility in the price of raw materials and stringent restrictions imposed on the use of plastics are likely to restrict the growth of the market over the forecast period.
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Berry Plastics Group Inc. (U.S.)
Smurfit Kappa Group PLC (Ireland)
GTX Hanex Plastic Sp. Z O.O. (Poland)
Klöckner Pentaplast GmbH & Co. Kg (Germany)
CCL Industries, Inc. (Canada)
Huhtamäki Oyj (Finland)
Rexam PLC (U.K.)
Resilux NV (Belgium)
Silgan Holdings (U.S.)
I. Du Pont De Nemours and Company (U.S.)
Dunmore Corporation (U.S.)
PET Power B.V. (The Netherlands)
Amcor Limited (Australia)
Graham Packaging Company (U.S.)
Gerresheimer AG (Germany) are the key players in the PET packaging market.
July 2019 - Pretium Packaging, a leading manufacturer of plastic containers and closures, invested USD 2 Mn in new reheat stretch polyethylene terephthalate (PET) blow molding equipment and infrastructure. The equipment is capable of both cold- and hot-fill PET containers and has a capacity of producing containers ranging from 6oz to 2L and finishes from 24 to 45 mm.
July 2019 - Sidel, a company specializing in PET solutions for packaging liquids, announced the acquisition of Cognac Moules Emballages Plastiques (COMEP), a French designer and producer of molds for PET. The company intends to expand its product offerings and enlarge its set of capabilities for business advantage.
The global PET Packaging market has been segmented based on form, packaging type, pack type, and end-use industry.
By form, the PET packaging market has been segmented into amorphous PET and crystalline PET. Form-wise, the amorphous PET segment is likely to dominate the market over the forecast period. Amorphous PET packaging is highly durable, water-resistant, and possesses high adhesive strength due to which it experiences heightened demand.
By packaging type, the PET packaging market has been segmented into rigid packaging and flexible packaging. The flexible packaging segment is anticipated to exhibit considerable growth over the forecast period. As compared to rigid packaging, they offer several benefits. Flexible packaging requires lesser packaging material and generate negligible solid waste. Additionally, they are eco-friendly and require less storage and shipping cost.
By pack type, the PET packaging market has been segmented into bottles & jars, bags & pouches, trays, lids/caps & closures, and others. The bottles & jars segment led the market in 2016 and is likely to retain its lead over the forecast period. Bottles & jars are safe, bendable, lightweight, and recyclable due to which they are preferred over other packs. They are extensively used in the packaging of beverages and carbonated drinks.
By end-use industry, the PET packaging market is segmented into food & beverage, personal care & cosmetics, household products, pharmaceuticals, and others. The food & beverage segment dominated the market in 2016 and is anticipated to register the highest CAGR over the forecast period. Increasing consumer demand for packaged food products can be credited for the growth of the segment.
Region-wise, the PET packaging market has been segmented into North America, Europe, Rest-of-the-World (RoW), and Asia Pacific (APAC).
The global PET packaging market was led by APAC in 2016 and is estimated that APAC will register the highest CAGR over the forecast period. The economic upturn in the region has considerably increased the demand for packaged goods in the region. Moreover, due to low operating cost, the presence of supportive policies, and low labor cost, various packaging companies are setting up their facilities in the region. Expansion of end-use industries such as pharmaceutical, food & beverage, and healthcare is favoring the growth of the market.
The developed regions of North America and Europe are matured markets for PET packaging. These regions have been generating consistent demand for PET packaging due to high consumption of packaged products.
Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
LIST OF FIGURES
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS
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Name: Abhishek Sawant
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Organization: Market Research Future
Release ID: 88907705