The global PET packaging market is predicted to register 5% CAGR during the forecast period (2018-2023) owing to the growing demand for packaged food items across the globe, asserts Market Research Future (MRFR). Also known as polyethylene terephthalate, PET is a type of polyester which can be shaped into plastic jugs and plastic boxes for packaging of personal care items, refreshments and food, and several other consumer products. With the growing foreign direct investment coupled with rapid industrialization in the developing economies, the global PET packaging market is considered to flourish. PET is a terephthalic corrosive and an ethylene glycol polymer. Pellets of PET pitch are warmed in order to form a fluid, which can be effortlessly be expelled into any shapes.

Competitive Dashboard

The prominent players operating the global PET packaging market are

Berry Plastics Group Inc. (U.S.)

Amcor Limited (Australia)

Silgan Holdings (U.S.)

Rexam PLC (U.K.)

Resilux NV (Belgium)

PET Power B.V. (The Netherlands)

Graham Packaging Company (U.S.)

Dunmore Corporation (U.S.)

CCL Industries, Inc. (Canada)

GTX Hanex Plastic Sp. Z O.O. (Poland)

I. Du Pont De Nemours and Company (U.S.)

Smurfit Kappa Group PLC (Ireland)

Gerresheimer AG (Germany)

Huhtamäki Oyj (Finland)

Klöckner Pentaplast GmbH & Co. Kg (Germany)

Segmental Analysis

The global PET packaging market has been segmented on the basis of packaging type, form, pack type, end-use industry, and region.

By mode of form, the PET packaging market has been segmented into crystalline PET and amorphous PET. Among these, the amorphous PET segment is considered to dominate the global PET packaging market owing to its attributes such as water-resistant nature, high durability, and high adhesive strength of the amorphous PET.

By mode of packaging type, the global PET packaging market has been segmented into flexible packaging and rigid packaging. Among these, the flexible packaging provides extraordinary features compared to rigid packaging. A smaller amount of packaging materials is required, less shipping cost, negligible solid waste, and requires less storage space. Moreover, such type of packaging is eco-friendly, which is likely to accelerate the product’s demand.

Regional Insights

Geographically, the PET packaging market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).

Among all the regions, Asia Pacific is considered to dominate the global PET packaging market and is considered to expand at the highest CAGR. The growth is attributed to the increasing urbanization and industrialization, high scope for foreign direct investment in major emerging nations, low labor cost, and an excellent hold on the industries like pharmaceutical & healthcare, food & beverages, and construction in this region.

The European region is anticipated to expand with the highest CAGR owing to factors such as growing investment by the companies in the packaging of pharmaceutical and healthcare products. The region has also witnessed tremendous growth in the medical sector which has created lucrative opportunities for PET packaging in the healthcare sector.

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