The PET packaging market size is projected to be valued at US$ 81.2 billion in 2023 and is expected to rise to US$ 130.4 billion by 2033. The sales of PET packaging are expected to register a CAGR of 4.9% during the forecast period.
PET material is a transparent, lightweight plastic that is frequently used for product packaging. It is advantageous for clear end-use applications because it is available in both rigid and flexible constructions. PET packaging is distinguished by its great strength, low cost, recycling potential, simplicity, and strong resistance to bending.
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PET packaging innovation and customization are opening up new market development opportunities. Additionally, the continued advancement of industries like food and beverage, pharmaceuticals and medical services, personal care and cosmetic items, and home consideration is intended to be helpful.
Further, developing pattern for maintainable plastic packaging arrangements is expected to reinforces deals in the market. Producers are sending off tweaked arrangements according to end-use prerequisites, which will expand the development in the market.
The key objective of the global PET packaging report is to provide companies with a summary of the latest trends and lucrative business expansion opportunities for PET manufacturers, suppliers, and distributors. The report also demonstrates the key business strategies and principles adopted by the key players around the world. This report is intended to:
- create greater awareness about PET packaging and how they are manufactured and distributed by companies;
- increase access to information about the PET packaging business principles for other institutions that are planning to start the business;
- promote the use of the PET packaging more generally in end-use industries
The research methodology used to forecast the market size was with the help of the top-down approach. The total market size of PET packaging was calculated based on the percentage split of packaging and percentage splits of different technologies used as PET packaging. This allotment and calculation were done on the basis of extensive primary interviews and secondary research. Primary research involved in this report includes extensive interviews with key people such as CEOs, VPs, directors, and executives.
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Will Increasing Focus On Design And Innovation In PET Packaging Influence Demand?
Surging demand for customized packaging solutions from various end use sectors is driving innovations in the packaging sector. Plastic packaging manufacturers are offering innovative and functional features in the product such as recyclable, lightweight, durable, easy-to-handle, and easy-to-use.
For instance, Amcor plc offers a PET round bottle that has various features such as tamper-evident, lightweight, recyclable, portable, and shatter-resistance. This trend is expected to continue over the assessment period, creating opportunities for growth in the market.
PET Packaging Market Segmentations
Packaging Type:
- Rigid PET Packaging
- Flexible PET Packaging
Product Type:
- Bottles & Jars
- Caps & Closures
- Trays & Clamshells
- Bags & Pouches
- Films & Wraps
- Labels
- Others
End-use Industry:
- Food & Beverage
- Pharmaceutical & Healthcare
- Personal Care & Cosmetics
- Homecare
- Automotive Parts
- Electricals & Electronics
- Chemicals
- Others
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