New York, USA, Oct. 25, 2022 (GLOBE NEWSWIRE) -- The global PET Packaging Market in 2021 was worth USD 77.83 billion, and by 2030 it will reach USD 121.16 billion, growing at a 5.04% CAGR. PET, or polyethylene terephthalate, is a type of polyester that can be molded into various packaging containers, including bottles and boxes. PET packaging is made by melting PET resin pellets & extruding the molten liquid into the desired shapes. It is immune to microorganisms, unbreakable, durable, resilient to heat, and ensures the packaged content's quality.
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PET Packaging Market Insights:
- On the basis of pack type, in 2021 bottles and jars segment ruled the overall market with a market share of nearly 41%.
- In 2021, the rigid packaging segment held a significant position in the market, with a share of approximately 56.3% on the basis of packaging.
- On the basis of end-user, the food and beverage segment held a significant position in the overall PET Packaging market.
- Geographically, North America ruled the overall PET Packaging market, with a share of nearly 39.3% in 2021.
Factors accelerating the PET Packaging Market growth:
Growing demand for environment friendly packaging and PET's Exceptional Characteristics are boosting the expansion of the market.
- The PET packaging market is booming due to PET's superior qualities, such as its high transparency, good stability, shiny surface, high-pressure resistance, lightweight and good barrier properties. Additionally, this substance is biologically inert, does not react with food or drink, and is immune to microbial attack. Furthermore, the FDA, Health Canada, the European Food Safety Authority, and other health-safety agencies have thoroughly reviewed and approved it for contact with foods and beverages.
- Increasing demand for environmentally friendly packaging solutions is boosting market expansion. As per Bleher Folientechnik, PET saves 60% of the energy required for the production of new plastics. Additionally, it is recyclable because its polymer chains degrade at a low temperature, resulting in little degradation of the polymer chains during recycling. The Food Packaging Forum Foundation estimates that 822,363 tons of PET bottles are collected for recycling in the United States each year.
PET Packaging Market: A thorough Segmentation Analysis
The worldwide PET Packaging Market segmentation has been done on the basis of packaging type, filling technology, pack type, End-user, and region.
By Packaging Type:
- Flexible
- Rigid
By Filling Technology:
- Aseptic Fill
- Hot Fill
- Cold Fill
- Others
By Pack Type:
- Bags and Pouch
- Trays
- Bottles & Jars
- Bags and Pouches
By End-User
- Pharmaceutical
- Consumer Goods
- Food & Beverage
- Other Industries
By Region
North America
- Mexico
- Canada
- United States
Europe
- United Kingdom
- France
- Italy
- Germany
- Turkey
- Spain
- Russia
- Netherlands
- Rest of Europe
Asia Pacific
- Japan
- India
- China
- Australia- New Zealand
- South Korea
- Rest of Asia Pacific
LAMEA
- Nigeria
- Argentina
- Qatar
- Brazil
- Saudi Arabia
- South Africa
- Morocco
- Egypt
- UAE
- Rest of LAMEA
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On the basis of pack type, in 2021 bottles and jars segment ruled the overall market with a market share of nearly 41%. Due to its powerful barriers against gas, water vapour, oils, diluted acids, and alcohol, PET is frequently used in food packaging. Additionally, PET is reasonably unbreakable, flexible, and recyclable. The need for packaged drinking water stimulates the demand for PET plastic caps and capsules. PET is used in the production of disposable plastic containers, which are also found in frozen foods and finished goods. PET is prevalent because it has a good oil barrier and can resist chemicals that harm plastics. PET can be nearly 90% lighter than glass, making transportation more affordable. These elements are accelerating the segment's market expansion.
In 2021, the rigid packaging segment held a significant position in the market, with a share of approximately 56.3% on the basis of packaging. The rising demand for products such as jars, bottles, and trays is propelling the market segment forward. They are compact and do not spill easily. These factors are driving the product's demand in the PET Packaging market.
On the basis of end-user, the food and beverage segment held a significant position in the overall PET Packaging market. By 2030 it is estimated to grow at a 5.8% CAGR, contributing approximately USD 60 million.
PET packaging is most frequently used in the food and beverage industry. PET material is used for packaging a variety of food products, particularly juices, convenience-sized soft drinks, and water. Bottled water is becoming increasingly popular around the world.
Geographically, North America ruled the overall PET Packaging market, with a share of nearly 39.3% in 2021. In the US, PET is the plastic that is recycled the most frequently. The PET Resin Association (PETRA) estimates that each year, nearly £ 1.47 billion of used PET bottles and containers are gathered for recycling in the region. PET closures are becoming popular due to a rise in PET packages like containers, tubes, cans, bottles, and barrier properties against oxygen (O2) and carbon dioxide (CO2). PET is also used in food packaging.
PET Packaging Market Report Coverage
| Report Attribute | Details |
| Period of Forecast | 2021 - 2030 |
| PET Packaging Market size value in 2021 | USD 77.83 billion |
| Revenue forecast until 2030 | USD 121.16 billion |
| Growth rate | CAGR of 5.04 % |
| The base year for estimation | 2021 |
| Historical data | 2017 – 2020 |
| Unit | USD Billion, CAGR (2021 - 2030) |
| Segmentation | By Packaging Type, filling technology, form, pack type, end-user and region |
| By packaging type | Rigid and flexible |
| By Filling Technology | Hot filling and Cold filling |
| By Form | Amorphous PET and Crystalline PET |
| By Pack Type | Bottles and Jars, Trays, Bags and Pouches, Lids / Caps and Closures, and Others. |
| By End-User | Food, & Beverage, Consumer Goods, Pharmaceutical, and Other Industries. |
| By Region | North America, Asia-Pacific, Europe and LAMEA |
| Country Scope | USA, Canada, Malaysia, Indonesia, India, China, and Nigeria. |
| Company Usability Profiles | Amcor plc, Berry Global Group, Sonoco Products Company, Smurfit Kappa Group, Silgan Holdings, Sealed Air Corporation, Schur Flexibles Group, Rexam plc Resilux, ProAmpac LLC, Novolex Holdings, LLC, Nampak Ltd. , Mondi Group, Klöckner Pentaplast GmbH & Co. KG, Huhtamäki Oyj, GTX Hanex Plastic Sp.z.o.o, Graham Packaging Company, Gerresheimer AG, Dupont de Nemours, Inc. , Dunmore Corporation, Constantia Flexibles Group GmbH, Comar LLC, Clondalkin Group Holdings B.V , CCL Industries, Inc., and Bischof + Klein SE & Co. KG |
Key players in PET Packaging Market:
- Comar LLC
- Dupont de Nemours, Inc
- Berry Global Group
- CCL Industries, Inc.
- Dunmore Corporation
- Clondalkin Group Holdings B.V
- Bischof + Klein SE & Co. KG
- Mondi Group
- Gerresheimer AG
- GTX Hanex Plastic Sp.z.o.o
- Novolex Holdings, LLC
- Rexam Plc
- Nampak Ltd
- Sealed Air Corporation
- Silgan Holdings
- Sonoco Products Company
- Smurfit Kappa Group
- Resilux
- ProAmpac
- SCHUR FLEXIBLES GROUP
- Graham Packaging Company
- Amcor plc
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Recent Development
- On October 2022, Sidel launched a new small-scale PET recycling pilot line in Octeville, France, to better understand and guide the packaging sector through the use of recovered PET.
- Tesa is expanding its line of packaging tapes with environmentally friendly qualities with the introduction of the new tesa 60412 recycled PET packaging tape.
- Buddie-Pack is a reusable plastic packaging project with 19 European partners that aims to encourage the use of recycled plastics by keeping their protective characteristics and developing innovative cleaning methods supported by the European Union.
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