Global PET Packaging market growth 2024, Forecast To 2033
4 Mar, 2024
The pet packaging market has experienced robust growth, climbing from$74.77 billion in 2023 to$78.89 billion in 2024, with a CAGR of 5.5%. The growth in the historic period is attributed to the rise in beverage consumption, popularity in food packaging, growth in the global population, shift from glass and metal packaging, convenience, and portability, along with the rise in single-serve packaging. Poised for strong growth ahead, the market is expected to reach$99.35 billion in 2028, showcasing a CAGR of 5.9%. Major trends in the forecast period include growing adoption of post-consumer recycled (PCR) PET, innovations in barrier properties, emphasis on shelf appeal and design, e-commerce packaging solutions, smart packaging, and track-and-trace technologies, as well as convenience features in pet packaging.
Global PET Packaging Market Key Driver
The emerging e-commerce industry across the globe is expected to propel the growth of the PET packaging market going forward. E-commerce (electronic commerce) refers to the purchasing and selling of goods and services, along with the transmission of payments and data, over an electronic network, primarily on the internet. PET packaging helps the e-commerce industry with the packing of food and beverage products. In the first quarter of 2022, retail e-commerce sales increased by 2.4 % as compared to the first quarter of the previous year, 2021, which was valued at $250.0 billion, according to the US Department of Commerce, the executive department of the U.S. federal government, concerned with economic growth and opportunity. Therefore, the emerging e-commerce industry across the globe is driving the growth of the PET packaging market.
Get A Free Sample Of The Global PET Packaging Market ReportGlobal PET Packaging Market Segments
The global pet packaging market covered in this report is segmented –
1) By Packaging Type: Rigid packaging, Flexible packaging
2) By Pack Type: Bottles and jars, Bags and Pouches, Trays, Lids or Caps and Closures, Other Packs (cups and clamshells)
3) By Filling Technology: Hot fill, Cold fill, Aseptic fill, Other Technologies (counter-pressure, low vacuum gravity, high vacuum gravity, and positive pressure)
4) By End-Use Industry: Food, Beverages, Personal Care and Cosmetics, Household Products, Pharmaceuticals, Other End-Use Industries (industrial goods and consumer durables)
By Geography: The regions covered in the pet packaging market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the PET packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the PET packaging market report during the forecast period. The regions covered in the pet packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major PET Packaging Industry Players
Amcor Limited, Resilux NV, Gerresheimer AG, Berry Global Group Inc., Silgan Holdings Inc., CCL Industries Inc., EI du Pont de Nemours and Company, Rexam PLC, Smurfit Kappa Group, Klöckner Pentaplast GmbH & Co KG, GTX Hanex Plastic Sp zoo, Dunmore Corporation, Huhtamaki Group, Graham Packaging Company LP, Sonoco Products Company, Bischof + Klein SE & Co. KG, Constantia Flexibles Group GmbH, Clondalkin Group Holdings, Alpla Werke Alwin Lehner GmbH & Co. KG, AptarGroup Inc., CKS Packaging Inc, Consolidated Container Company LLC, Cospack America Corp., Esterform Packaging Limited, Evergreen Packaging Inc, O.Berk Company, Greif Inc, Huhtamaki Americas Inc., RPC Group, Comar
Get The Full Global PET Packaging Market Report
PET Packaging Market Overview
Polyethylene terephthalate (PET) packaging refers to a polymer material that is clear, durable, chemically inert, eco-friendly, and lightweight, with many characteristics that make it suitable for product packaging. The polyethylene terephthalate (PET) packaging are used in the pack items, to move through the supply-chain life cycle without being damaged.
PET Packaging Global Market Report 2023 provides data on the global pet packaging market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The pet packaging market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.