In 2022, the market for PET materials packaging is expected to be worth US$ 1,573.2.0 Million. PET material packaging sales are anticipated to increase at a CAGR of 5.7% from 2022 to 2032, reaching a value of US$ 2,738.6 million. Growing consumer demand for food and beverage goods as well as PET packaging that is recyclable and sustainable is anticipated to fuel market expansion. PET material packaging demand increased historically between 2016 and 2021 at a value CAGR of 4.1%.
Terephthalic acid (TTA) and monoethylene glycol are the monomers used to make the polyester or resin known as polyethylene terephthalate (PTE) (MEG). Food packaging and containers for bottled water must adhere to strict safety and dependability standards set forth by numerous regulatory organisations.
Polyethylene terephthalate (PTE) a plastic resin or polyester which is made up of a combination of two monomers such as terephthalic acid (PTA) and mono-ethylene glycol (MEG). AS per various regulating bodies, bottled water containers and food packaging must be safe and reliable for contact of food and beverages. PTE fulfills these criteria and is used in packaging of soft drinks, bottled water and numerous food items. PET material used in packaging is also bio-degradable in nature.
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The inclination of the packaging industry to adopt green plastics has become a key trend that is expected to drive the growth of PET material market. PET has emerged as an alternative for conventional packaging materials, such as aluminum paper, glass and metal as it is light in weight and thus easy for logistics and transportation. PET containers have become a popular choice across the manufacturers as they are recyclable and reusable in nature.
Key Players:
Some of the prominent players in PET material packaging market are Amcor Limited, CCL Industries, Inc., Gerresheimer AG, Smurfit Kappa Group PLC, Masterchem, PET Power, Berry Plastic Group Inc, Resilux NV, GTX Hanex Plastic Sp. z o.o., Klöckner Pentaplast GmbH & Co. KG.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers an exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition and companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina)
- Western Europe (Germany, Italy, U.K, Spain, France, Nordic, Rest of Western Europe)
- Eastern Europe (Russia, Poland)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Drivers and Restraints:
FDA and other regulatory agencies across the world has approved PET as safe material for direct contact with food and beverage for over 30 years. Countries across the world has started to promote biodegradable materials for packaging leading to the growth of PET material packaging market. Various beverage manufacturers are investing into projects which focus on producing cost-effective PET bottles to gain significant benefits by attracting a higher number of consumers.
There is an increase in demand of packaging of carbonated beverages using PET thus fueling the growth of overall PET material packaging market. Currently, various new trends have emerged in the food and beverages industry such as hot-filling or cold-filling PET bottles which can still increase the shelf life of the product even if not kept in good state.
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Global PET Material Packaging: Segmentation
Based on the end use:
- Food and drink
- Personal care
- Pharmaceutical
- Alcoholic beverages
- Others
Based on the products:
- Bottles
- Jars
- Performs
- Closures
by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
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