PET Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

PET Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of PET Packaging Market

The PET Packaging market size was valued at USD 41.03 billion in 2023, and the market is now projected to grow from USD 42.34 billion in 2024 to USD 66.28 billion by 2032, exhibiting a CAGR of 5.76% during the forecast period of 2024-2032.

The market was negatively affected by the COVID-19 pandemic. This is because public places that include among others , groceries, restaurants and food service establishments had been closed, causing demand for them to be low. Despite this situation that bore heavy losses to various businesses, we have seen a rise in non-food luxury packaging which has led to increased PET Packaging market growth in terms of container sizes like cartons plus cups among others.

Consumers prefer custom and different package that displays a variety of products within one wrapping to the public that is actively noticing it. Consumers are attracted to packaging that they can interact with. In packaging of meals and drinks, PET is starting to be a major material due to its ability not to react chemically with the contents inside nor let bacteria grow on it. As a result, it is preferred over glass because it is much lighter yet stronger in PET Packaging market share.

Manufactures face sustainability difficulties with plastic packing, but these are being countered with recycling advances. A slow increase in the proportion of recycling activities in Europe is apparent. This puts PET apart since its weightlessness when bottling and packing makes it different as seen in other substances hence it rather than sustainability it is still the most preferred.

Comprehensive PET Packaging Market

The PET Packaging market is growing at an exponential rate due to its market segmentation. These segmentations are methodically segregated by Packaging Type Analysis, by Product Type Analysis, by End-user Analysis. The Packaging Type Analysis includes Rigid Packaging and Flexible Packaging. The Product Type Analysis includes bottles & jars, caps & closures, trays & clamshells, bags & pouches, films & wraps, sachets & stick packs, and cans & containers. The End-User Analysis includes Food & Beverage, Pharmaceutical, Personal Care & Cosmetics, Automotive, Electricals & Electronics, Chemicals, Building & Construction, Agriculture, Household, and Others.

The Europe region lead the PET Packaging market by benefitting a market size of USD 12.44 billion in 2023 due to the emerging trend of ready-to-eat food consumption has increased the demand for product packaging such as single-serve and small-sized PET.

The key players in the market play a crucial role in the Packaging industry assuring industrial prospectus growth and setting market standards. These players include, Amcor (Australia), Berry Global (U.S.), Huhtamaki (Finland), Sonoco Products Company (U.S.), Klöckner Pentaplast (U.S.), Gerresheimer (Germany), Clondalkin Flexible Packaging (Amsterdam), Schur Flexibles Group (Austria), Novolex Holdings, Inc. (U.S.), Constantia Flexibles (Austria), Dunmore (U.S.), Printex Transparent Packaging (U.S.), MD Group (U.K.), PDG PLASTIQUES (France) these market players provide a competitive landscape.

In May 2022, Teklex Consumer Products has launched a new range of 100% PET Processor Trays used for curing general packaging issues that are necessarily related to high-end organic or naturally sourced non-GMO products from poultry processing firms. These recent pet trays use 100% recycled post-industrial inputs are one hundred percent reusable, which makes them appealing for customers who are heavily concerned with sustainability.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 5.76% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Packaging Type

Rigid Packaging

Flexible Packaging

By Product Type

Bottles & Jars

Caps & Closures

Trays & Clamshells

Bags & Pouches

Films & Wraps

Sachets & Stick Packs

Cans & Containers

By End-user

Food & Beverage

Pharmaceutical

Personal Care & Cosmetics

Automotive

Electricals & Electronics

Chemicals

Building & Construction

Agriculture

Household

Others

By Region

North America (By Packaging Type, By Product Type, By End-user, and by Country)

- U.S. (By End-user)

- Canada (By End-user)

Europe (By Packaging Type, By Product Type, By End-user, and by Country)

- U.K. (By End-user)

- Germany (By End-user)

- France (By End-user)

- Italy (By End-user)

- Spain (By End-user)

- Russia (By End-user)

- Rest of Europe (By End-user)

Asia Pacific (By Packaging Type, By Product Type, By End-user, and by Country)

- China (By End-user)

- India (By End-user)

- Japan (By End-user)

- Australia (By End-user)

- Southeast Asia (By End-user)

- Rest of Asia Pacific (By End-user)

Latin America (By Packaging Type, By Product Type, By End-user, and by Country)

- Brazil (By End-user)

- Mexico (By End-user)

- Rest of Latin America (By End-user)

Middle East & Africa (By Packaging Type, By Product Type, By End-user, and by Country)

- GCC (By End-user)

- South Africa (By End-user)

- Rest of Middle East & Africa (By End-user)


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