PET Packaging Market Forecasts to 2028 – Global Analysis By Packaging Type (Flexible, Rigid and Other Packaging Types), By Pack Type (Bags and Pouches, Bottles & Jars, Films & Wraps, Labels, Lids / Caps and Closures, Trays & Clamshells, Sachets & Stick Pa

PET Packaging Market Forecasts to 2028 – Global Analysis By Packaging Type (Flexible, Rigid and Other Packaging Types), By Pack Type (Bags and Pouches, Bottles & Jars, Films & Wraps, Labels, Lids / Caps and Closures, Trays & Clamshells, Sachets & Stick Packs, Cans & Containers and Other Pack Types), By Filling Technology, By Form, By Application, By End User and By Geography

According to Stratistics MRC, the Global PET Packaging Market is accounted for $40.6 billion in 2022 and is expected to reach $61.6 billion by 2028 growing at a CAGR of 7.21% during the forecast period. In a variety of industries, including food and beverage (particularly preserved foods, fruit juice, etc.), healthcare, consumer goods, cosmetics, electronics, pharmaceuticals, cinematography, etc., polyethylene terephthalate is utilized as a recycled plastic material. It is incredibly sustainable and does not harm the environment. PET packaging is used in the packaging of consumer goods as well as to package beverages like juice, milk, and dairy products. PET is also used to package food, cosmetics, pharmaceuticals, and household cleaning detergents, in addition to beverage containers.

According to Earth Day organizers, one million plastic bottles are purchased in the United States every minute. The average American drinks in 167 plastic water bottles annually.

Market Dynamics

Driver

Increasing customization for brand differentiation

Consumers prefer product packaging that is customized and available in many dimensions. The producers combine several products into a single package to increase visibility and establish a distinctive presence on the shelf. Consumers are attracted to products with interactive packaging. PET is rapidly replacing other packaging materials for food and beverages because of its distinctive qualities. It is a stable, inert substance that does not react with food, is resistant to microbial attack, and does not biodegrade, much like glass.

Restraint

Ban of single-use plastic by government

In order to encourage the management of locally generated plastic garbage, India banned the import of plastic waste in 2019. The restriction on single-use plastic will, in some nations throughout the predicted period, possibly reduce demand for and sales of PET packaging. Manufacturers in the packaging industry use substances that are expected to decompose naturally, such as paper, molded fiber, and others. These could limit the expansion of the PET packaging market in the coming years.

Opportunity

Growing awareness of eco-friendly products

While using plastic to package consumer goods, manufacturers confront significant sustainability challenges. To mitigate sustainability concerns, plastic material development with its recycling streams is helpful. Recycling rates have been steadily rising in Europe. When compared to other materials used for bottling and, more specifically, for packaging, PET is incredibly lightweight. To ensure that all plastic is recyclable by 2030, the European Union is setting the global standard for accepting and implementing recycled materials. By 2025, 12 million tons of end markets for recovered plastic must exist in order for the EU recycling goals to be halfway achieved.

Threat

Availability of substitute products

According to a market assessment, the use of pet goods' packaging will be constrained by the availability of substitute items, including polyethylene, polypropylene, and polystyrene. These alternatives are more affordable and have characteristics similar to polyethylene terephthalate. The consumption of plastics was also subject to various government controls. This is because the production of plastic pollutes heavily and has a negative influence on the environment.

Covid-19 Impact

Due to the pandemic-related closures of restaurants and other food services during COVID-19, consumer demand for groceries shifted considerably. As a result, consumers kept shifting to grocery stores, raising the demand for packaging. This tendency is fueled by consumers' desire to stock up on groceries, drinks, and home care items. However, when stores close and customers start to cut back on their spending, demand for luxury packaging other than food drops. As a result, the pandemic's effects on the packaging sector have been inconsistent.

The rigid packaging segment is expected to be the largest during the forecast period

Due to rising consumer spending on online shopping and rising demand for food packaging to fulfill hygienic standards, the PET packaging market growth was substantially robust in the rigid packaging category in 2021 and is anticipated to dominate the market over the forecast period. Additionally, due to its lightweight, superior stability, barrier properties, and durability, it is commonly employed in the food and beverage sector.

The bottles and jars segment is expected to have the highest CAGR during the forecast period

Due to the expansion of the global food and beverage sector, which has increased demand for PET bottles, the bottles and jars segment is anticipated to experience profitable growth throughout the course of the projected period. Global demand for packaging has grown as a result of the development of the sector and the recent introduction of personalized PET bottles and jars. Due to their distinctive features, adaptable shapes, and thermal stability, PET bottles and jars stand out on the shelves and appear to be a top choice for many end-use sectors.

Region with largest share

Due to PET's benefits over the currently used traditional packaging polymers, the use of PET goods in the packaging sector (PET containers, bottles, etc.) is growing. Over the forecasted period, Asia-Pacific is anticipated to hold the largest share. Additionally, packing materials are more in demand in China from industries including the food and beverage industry, consumer goods, and others due to growing exports and domestic consumption.

Region with highest CAGR

Because of the spike in demand for single-serve and small-sized products packaged in materials like PET and metal cans as India embraces an on-the-go food consumption trend, Asia-Pacific is expected to maintain productive growth during the extended period. Flexible packaging materials like PET are still commonly used across the country since consumers are price-conscious and seek out products that offer value for their money. Additionally, in China, there is a growing demand for PET bottles. It is greatly impacted by the bottled water industry, including its major players like Master Kong and Nongfu Spring, as well as the large annual increase in bottled water consumption in China.

Key players in the market

Some of the key players in PET Packaging market include Amcor Ltd, Berry Global Group Inc, Bischof + Klein SE & Co. KG, CCL Industries, Inc. , Clondalkin Group Holdings B.V, Comar LLC, Constantia Flexibles Group GmbH, Dunmore Corporation, Dupont de Nemours, Inc., Gerresheimer AG, Graham Packaging Company, GTX Hanex Plastic Sp.z.o.o, Huhtamäki Oyj, Klöckner Pentaplast GmbH & Co. KG, Mondi Group, Nampak Limited, Novolex Holdings, LLC, ProAmpac LLC, Resilux NV, Rexam plc, SCHUR FLEXIBLES GROUP, Sealed Air Corporation, Silgan Holdings Inc, Smurfit Kappa Group and Sonoco Products Company.

Key Developments

In May 2022, A new line of 100% PET Processor Trays has been launched by Tekklex Consumer Products, which addresses common packaging challenges faced by poultry processors, particularly higher-end products labeled organic, non-GMO, or sustainably sourced. TekniPlex's new trays are made from 100% PET and contain up to 50% post-industrial recycled content. Furthermore, they are 100% recyclable, appealing to consumers' heightened sustainability awareness.

In May 2022, Packaging solutions provider Alpla Group, in partnership with Austrian mineral water bottler Vöslauer, developed a new returnable PET bottle that reduces carbon emissions by about 30%. The fully-recyclable PET mono-material bottle weighs 55 grams and is about 90% lighter than the returnable glass.

In April 2022, Sidel launched PressureSAFE, a PET aerosol container for home and personal care products that is approved for recycling in traditional PET streams and claims to have a lower carbon footprint than aluminum alternatives.

In April 2022, Mondi launched new packaging solutions for the food industry at AnugaFoodTec in Cologne, Germany. Two-tray packaging products provide recyclable options for fresh food manufacturers, which will help to reduce food waste. High-barrier food protection will be provided by PerFORMing Monoloopand Mono Formable PP, illustrating the crucial role that packaging plays throughout the supply chain.

In January 2022, Sonoco products company completed the acquisition of Ball Metalpack, a manufacturer of sustainable tinplate food; the collaboration will expand the sustainable packaging portfolio to include tinplate packaging.

Packaging Types Covered
• Flexible
• Rigid
• Other Packaging Types

Pack Types Covered
• Bags and Pouches
• Bottles & Jars
• Films & Wraps
• Labels
• Lids / Caps and Closures
• Trays & Clamshells
• Sachets & Stick Packs
• Cans & Containers
• Other Pack Types

Filling Technologies Covered
• Aseptic Fill
• Hot Fill
• Cold Fill
• Other Filling Technologies

Forms Covered
• Crystalline PET
• Amorphous PET
• Other Forms

Applications Covered
• Food & Beverages
• Consumer Goods
• Pharmaceutical
• Healthcare
• Personal Care & Cosmetics
• Homecare
• Other Applications

End Users Covered
• Chemicals
• Electrical & Electronics
• Automotive Parts
• Industrial Goods
• Household Products
• Building & Construction
• Agriculture
• Oil and Gas
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities,Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements