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PET Packaging Market Report Scope & Overview:

PET Packaging Market,Revenue Analysis

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The PET Packaging Market size was USD 77.24 billion in 2023 and is expected to Reach USD 120.85 billion by 2032 and grow at a CAGR of 5.1 % over the forecast period of 2024-2032.

PET, also referred to as polyethylene terephthalate, is a flexible, non-toxic material that is safe, lightweight, and can be recycled and used multiple times. Additionally, it can be processed up to three to four times without losing any of its chemical qualities. These qualities make polyethylene terephthalate an excellent material for use in a variety of industries, including textiles, electronics, and the automotive sector.

In addition, polyethylene terephthalate has special physical qualities that make it useful for flexible packaging applications. These qualities include not reacting with food or water. A positive impact on market growth is anticipated from the expanding technological innovations and advancements in packaging applications, particularly through weight reduction. Major market growth drivers for PET include rising textile and fabric consumption, rising PET recycling, and rising global demand for environmentally friendly and recyclable goods.

MARKET DYNAMICS

KEY DRIVERS: 

  • Increase in demand from the pharmaceutical industry.

  • Increasing Demand for Rigid Packaging

Rigid packaging offers excellent protection for products during storage, handling, and transportation. The increasing emphasis on sustainable packaging solutions has fueled the demand for rigid packaging materials that are recyclable or made from recycled content.

RESTRAIN:

  • Increasing prices of raw materials

  • Availability of Substitute Material

The increasing demand for environmentally friendly substitutes like High-Density Polyethylene (HDPE) and strict environmental regulations limiting the use of PET is anticipated to have a negative effect on the market's expansion.

OPPORTUNITY:

  • Making use of the qualities of PET materials across various industries.

  • Investment in technological advancements for improvised PET material

With the development of technology, the PET packaging market continues to develop. These developments can be used by businesses to enhance product performance, streamline manufacturing procedures, and lower costs. Research and development expenditures can result in the creation of novel barrier technologies, enhanced packaging concepts, and effective recycling techniques, giving businesses a competitive edge in the market.

CHALLENGES:

  • Recycling of PET bottles

PET bottles with multiple layers and those containing problematic additives for recycling can easily evade detection and end up in the PET bale.

IMPACT OF RUSSIAN UKRAINE WAR

With an annual production of more than 800,000 tonnes of glass bottles, 650,000 tonnes of transport packaging, and 950,000 tonnes or more of PET beverage bottles, Ukraine was a significant player in the world's packaging supply chain. It was a major provider of wood and metal to the European market due to its abundance of forested land and sizable reserves of nickel, copper, and iron.

Due to the war, there was heavy damage caused to infrastructure and the global economy which reduced the production and supply chain globally. This affected the overall growth of the PET packaging market globally. Russia exports around 2.2 million tons of polymers across the globe. Due to the war exports were reduced which damaged the overall supply chain of raw materials.

IMPACT OF ONGOING RECESSION

The business-to-business (B2B) sector is also affected during a recession. Industries such as manufacturing, automotive, and construction may experience a decline in production and demand for their products. This reduction in B2B activity can subsequently affect the demand for rigid packaging used for industrial and commercial purposes.

Companies may face financial challenges during a recession, including reduced access to capital, credit constraints, and increased operational costs. These financial pressures can lead to cost-cutting measures, including reducing packaging expenses. Companies may explore alternatives to rigid packaging, such as downsizing packaging sizes, utilizing lighter materials, or opting for more cost-effective packaging solutions.

IMPACT OF COVID-19

Covid-19 has given boom to the plastic industry. Despite its drawbacks, plastic packaging has become indispensable due to the pandemic's need for safety. However, the rise in demand for it is causing supply chains to break down due to the increased demand. The United States imports plastic bottles worth $1 billion, plastic lids worth $5.5 billion, and plastic bottles from China, and Mexico annually.

Due to covid-19 brands are dealing with slow deliveries and, occasionally, out-of-stock merchandise. As brands look for new PET bottle vendors, pricing has gone up from 6% to 10%.

KEY MARKET SEGMENTS

By Packaging Type

  • Rigid

  • Flexible

By Product Type

  • Cans & Container

  • Bottle & Jars

  • Bags & Pouches

  • Caps & Closures

  • Trays, Films & Wraps

  • Others

By End users

  • Agriculture

  • Automotives

  • Pharmaceuticals

  • Food & Beverages

  • Others

REGIONAL ANALYSIS

With a 40 % market share in 2023, the Asia Pacific region dominated the PET market. The demand for PET in the Asia Pacific region is anticipated to rise as a result of rising packaged food consumption and rising demand for automotive films in emerging economies.

Considering an increasing GDP per capita and an improving domestic consumer goods production landscape, China and India, are the region's two fastest-growing economies, offering numerous growth prospects for the consumer goods sector. Growth in consumer goods sales will likely have a positive impact on the PET market due to population growth, and improved purchasing power in Latin American and Asia regions.

China, India, and other developing nations are anticipated to experience rapid economic growth in the near future. In the upcoming years, it is anticipated that significant investments in the building and construction industries for the development of infrastructure in Europe and the Asia-Pacific region will increase demand for films and sheets.

Markets in North America and Europe are more developed than those in Asia Pacific. Due to strict regulations in both regions, manufacturers have been forced to shift their production to emerging economies. These nations provide skilled labor and land for comparatively less money. 

The U. S. due to strong demand from numerous end-use industries, the market for PET is relatively mature but expanding. Additionally, the U. S. government, along with a number of federal agencies, is investing more money in regional development and infrastructure, these factors are probably going to cause the infrastructure and construction markets to grow quickly, which will be good for the growth the PET market.

PET-Packaging-Market-Regional-Analysis--2023

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REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of the Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin American

Key players List-

Some major key players in the PET packaging market are CCL Industries Inc, ProAmpac LLC, Novolex Holdings LLC, Sealed Air Corporation, Berry Global Group, Mondi Group, Gerresheimer AG, Clondalkin Group, Huhtamaki Oyj, Constantia Flexiles Group GmbH, and other players.

RECENT DEVELOPMENT

  • Bormioli Pharma and Pierre Fabre, New PET packaging is created by Bormioli Pharma and Pierre Fabre for  mouthwashes made by Eludril brand, one of the top oral care brands in Europe, the two companies have developed packaging made entirely of recycled PET.

  • TechniPlex Healthcare, The first blister + lidding combination in the world was set on display at PACK EXPO in 2022 by TechniPlex Healthcare

PET Packaging Market Report Scope:
Report Attributes Details
Market Size in 2023  US$ 77.24 Bn
Market Size by 2032  US$ 120.85 Bn
CAGR   CAGR of 5.1 % From 2024 to 2032
Base Year  2023
Forecast Period  2024-2032
Historical Data  2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Packaging Type (Rigid, Flexible)
• By Product Type (Cans & Containers, Bottle & Jars, Bags & Pouches, Caps & Closures, Trays, Films & Wraps, Others)
• By End Users (Agriculture, Automotives, Pharmaceuticals, Food & Beverages, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles CCL Industries Inc, ProAmpac LLC, Novolex Holdings LLC, Sealed Air Corporation, Berry Global Group, Mondi Group, Gerresheimer AG, Clondalkin Group, Huhtamaki Oyj, Constantia Flexiles Group GmbH
Key Drivers • Increase in demand from the pharmaceutical industry.
• Increasing Demand for Rigid Packaging
Market Opportunities • Making use of the qualities of PET materials across various industries.
• Investment in technological advancements for improvised PET material

 

Frequently Asked Questions

Ans: The PET Packaging is expected to grow at a CAGR of 5.1 % over the forecast period of 2024-2032.

Ans: The PET Packaging Market size was USD 77.24 billion in 2023 and is expected to Reach USD 120.85 billion by 2032.

Ans: Increase in demand from the pharmaceutical industry and Increasing Demand for Rigid Packaging is major key driver for the growth of PET packaging market.

Ans: Availability of Substitute Material is major restrain in PET packaging market.

Ans: With a 40 % market share in 2023, the Asia Pacific region dominated the PET market.

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 Impact of Russia-Ukraine War
4.2 Impact of Covid-19

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Global PET Packaging Market Segmentation, By Packaging Type
8.1 Rigid
8.2 Flexible

9. Global PET Packaging Market Segmentation, By Product Type
9.1 Cans & Container
9.2 Bottle & Jars
9.3 Bags & Pouches
9.4 Caps & Closures
9.5 Trays, Films & Wraps
9.6 Others

10. Global PET Packaging Market Segmentation, By End Use
10.1 Agriculture
10.2 Automotives
10.3 Pharmaceuticals
10.4 Food & Beverages
10.5 Others

11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America PET Packaging Market by Country
11.2.2North America PET Packaging Market By Packaging Type
11.2.3 North America PET Packaging Market By Product Type
11.2.4 North America PET Packaging Market By End Use
11.2.6 USA
11.2.6.1 USA PET Packaging Market By Packaging Type
11.2.6.2 USA PET Packaging Market By Product Type
11.2.6.3 USA PET Packaging Market by End Use
11.2.7 Canada
11.2.7.1 Canada PET Packaging Market By Packaging Type
11.2.7.2 Canada PET Packaging Market By Product Type
11.2.7.3 Canada PET Packaging Market By End Use
11.2.8 Mexico
11.2.8.1 Mexico PET Packaging Market By Packaging Type
11.2.8.2 Mexico PET Packaging Market By Product Type
11.2.8.3 Mexico PET Packaging Market By End Use
11.3 Europe
11.3.1 Europe PET Packaging Market by Country
1.3.3.2 Europe PET Packaging Market By Packaging Type
11.3.3 Europe PET Packaging Market By Product Type
11.3.4 Europe PET Packaging Market  By End Use
11.3.6 Germany
11.3.6.1 Germany PET Packaging Market By Packaging Type
11.3.6.2 Germany PET Packaging Market By Product Type
11.3.6.3 Germany PET Packaging Market By End Use
11.3.7 UK
11.3.7.1 UK PET Packaging Market By Packaging Type
11.3.7.2 UK PET Packaging Market By Product Type
11.3.7.3 UK PET Packaging Market By End Use
11.3.8 France
11.3.8.1 France PET Packaging Market By Packaging Type
11.3.8.2 France PET Packaging Market By Product Type
11.3.8.3 France PET Packaging Market By End Use
11.3.9 Italy
11.3.9.1 Italy PET Packaging Market By Packaging Type
11.3.9.2 Italy PET Packaging Market By Product Type
11.3.9.3 Italy PET Packaging Market By End Use
11.3.10 Spain
11.3.10.1 Spain PET Packaging Market By Packaging Type
11.3.10.2 Spain PET Packaging Market By Product Type
11.3.10.3 Spain PET Packaging Market By End Use
11.3.11 The Netherlands
11.3.11.1 Netherlands PET Packaging Market By Packaging Type
11.3.11.2 Netherlands PET Packaging Market By Product Type
11.3.11.3 Netherlands PET Packaging Market By End Use
11.3.11 Rest of Europe
11.3.11.1 Rest of Europe PET Packaging Market By Packaging Type
11.3.11.2 Rest of Europe PET Packaging Market By Product Type
11.3.11.3 Rest of Europe PET Packaging Market By End Use
11.4 Asia-Pacific
11.4.1 Asia Pacific PET Packaging Market by Country
11.4.2 Asia Pacific PET Packaging Market By Packaging Type
11.4.3 Asia Pacific PET Packaging Market By Product Type
11.4.4Asia Pacific PET Packaging Market  By End Use
11.4.6 Japan
11.4.6.1 Japan PET Packaging Market By Packaging Type
11.4.6.2 Japan PET Packaging Market By Product Type
11.4.6.3 Japan PET Packaging Market By End Use
11.4.7 South Korea
11.4.7.1 South Korea PET Packaging Market By Packaging Type
11.4.7.2 South Korea PET Packaging Market By Product Type
11.4.7.3 South Korea PET Packaging Market By End Use
11.4.8 China
11.4.8.1 China PET Packaging Market By Packaging Type
11.4.8.2 China PET Packaging Market By Product Type
11.4.8.3 China PET Packaging Market By End Use
11.4.9 India
11.4.9.1 India PET Packaging Market By Packaging Type
11.4.9.2 India PET Packaging Market By Product Type
11.4.9.3 India PET Packaging Market By End Use
11.4.10 Australia
11.4.10.1 Australia PET Packaging Market By Packaging Type
11.4.10.2 Australia PET Packaging Market By Product Type
11.4.10.3 Australia PET Packaging Market By End Use
11.4.11 Rest of Asia-Pacific
11.4.11.1 APAC PET Packaging Market By Packaging Type
11.4.11.2 APAC PET Packaging Market By Product Type
11.4.11.3 APAC PET Packaging Market By End Use
11.5 The Middle East & Africa
11.5.1 The Middle East & Africa PET Packaging Market by Country
11.5.2 The Middle East & Africa PET Packaging Market By Packaging Type
11.5.3 The Middle East & Africa PET Packaging Market By Product Type
11.5.4The Middle East & Africa PET Packaging Market By End Use
11.5.6 Israel
11.5.6.1 Israel PET Packaging Market By Packaging Type
11.5.6.2 Israel PET Packaging Market By Product Type
11.5.6.3 Israel PET Packaging Market By End Use
11.5.7 UAE
11.5.7.1 UAE PET Packaging Market By Packaging Type
11.5.7.2 UAE PET Packaging Market By Product Type
11.5.7.3 UAE PET Packaging Market By End Use
11.5.8 South Africa
11.5.8.1 South Africa PET Packaging Market By Packaging Type
11.5.8.2 South Africa PET Packaging Market By Product Type
11.5.8.3 South Africa PET Packaging Market By End Use
11.5.9 Rest of Middle East & Africa
11.5.9.1 Rest of Middle East & Asia PET Packaging Market By Packaging Type
11.5.9.2 Rest of Middle East & Asia PET Packaging Market By Product Type
11.5.9.3 Rest of Middle East & Asia PET Packaging Market By End Use
11.6 Latin America
11.6.1 Latin America PET Packaging Market by Country
11.6.2 Latin America PET Packaging Market By Packaging Type
11.6.3 Latin America PET Packaging Market By Product Type
11.6.4 Latin America PET Packaging Market By End Use
11.6.6 Brazil
11.6.6.1 Brazil PET Packaging Market By Packaging Type
11.6.6.2 Brazil Africa PET Packaging Market By Product Type
11.6.6.3 Brazil PET Packaging Market By End Use
11.6.7 Argentina
11.6.7.1 Argentina PET Packaging Market By Packaging Type
11.6.7.2 Argentina PET Packaging Market By Product Type
11.6.7.3 Argentina PET Packaging Market by By End Use
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America PET Packaging Market By Packaging Type
11.6.8.2 Rest of Latin America PET Packaging Market By Product Type
11.6.8.3 Rest of Latin America PET Packaging Market By End Use

12 Company Profile
12.1 CCL Industries Inc
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 ProAmpac LLC
12.2.1 Market Overview
12.2.2 Financials
12.2.3 Product/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Novolex Holdings LLC
12.3.1 Market Overview
12.3.2 Financials
12.3.3 Product/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Sealed Air Corporation
12.4.1 Market Overview
12.4.2 Financials
12.4.3 Product/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Berry Global Group
12.5.1 Market Overview
12.5.2 Financials
12.5.3 Product/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Mondi Group
12.6.1 Market Overview
12.6.2 Financials
12.6.3 Product/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Gerresheimer AG
12.7.1 Market Overview
12.7.2 Financials
12.7.3 Product/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Clondalkin Group
12.8.1 Market Overview
12.8.2 Financials
12.8.3 Product/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Huhtamaki Oyj
12.9.1 Market Overview
12.9.2 Financials
12.9.3 Product/Services/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Constantia Flexiles Group GmbH
12.10.1 Market Overview
12.10.2 Financials
12.10.3 Product/Services/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View

13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments

14. USE Cases and Best Practices

15. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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