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PET Packaging Market Analysis

Report ID: GMI7302
Published Date: Nov 2023
Report Format: PDF

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PET Packaging Market Analysis

PET Packaging Market Size, By Product Type, 2021 - 2032, (USD Billion)

Based on product type, the market is segmented into bottles & jars, bags & pouches, caps & closures, trays, and others. The bottles & jars segment dominated the market with a share of over 20% in 2022.

PET is a recyclable material, and the growing emphasis on eco-friendly packaging options has propelled the demand for PET bottles & jars, reducing environmental impacts. PET bottles & jars are lightweight, making their transportation and storage cost-effective. They are also versatile, making them suitable for a wide range of products from beverages to personal care items.
PET's transparency allows consumers to see the product inside, enhancing visual appeal and trust, particularly in the food & beverage industry. PET packaging provides a barrier against contaminants and UV rays, ensuring the safety & integrity of the enclosed products.

PET Packaging Market Share, By Packaging Type, 2022

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Based on packaging type, the market is divided into rigid packaging and flexible packaging. The flexible packaging segment is anticipated to register a CAGR of over 5% through 2032.

PET is a versatile material that can be molded into various shapes and sizes, making it ideal for flexible packaging options such as pouches, bags & shrink sleeves.
This flexibility in design enables efficient storage & transportation, reduces material waste, and enhances product visibility. Additionally, flexible PET packaging is lightweight, cost-effective, and often recyclable, aligning with sustainability trends & consumer preferences for eco-friendly options.

U.S. PET Packaging Market Size, 2021-2032, (USD Billion)

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North America dominated the global PET packaging market with a share of over 35% in 2022. With the growing consumer awareness and demand for sustainable & eco-friendly packaging solutions, the use of recycled PET materials is also on the rise, aligning with environmental concerns. The region's thriving food & beverage industry also relies on PET packaging due to its lightness, durability, and cost-effectiveness. Furthermore, advancements in PET technology, such as increased barrier characteristics and design flexibility, make it a viable option. Growth in this market is further fueled by government policies that promote recyclability and sustainability. Overall, these factors contribute to the North America PET packaging industry expansion.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for PET packaging surpassed USD 30 billion in revenue in 2022 and is projected to expand at over 5% CAGR from 2023 to 2032 driven by the rising consumer demand for food & beverage items.

The bottles & jars segment held more than 20% share of the PET packaging industry in 2022 and is estimated to witness high demand through 2032 owing to their cost effectiveness, lightweight, and versatility for storage and transportation of a wide range of products.

Some of the major PET packaging companies are Amcor Limited, Berry Global Group Inc., CCL Industries, Inc., Gerresheimer AG, Huhtamaki OYJ, Silgan Holdings Inc., and Sonoco Products Company.