The new report by Expert Market Research titled, ‘Global PET Packaging Market Price, Trends, Growth, Analysis, Report and Forecast 2020-2025′, gives an in-depth analysis of the global PET packaging market, assessing the market based on its segments like forms, packaging, filling technology, end-users, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2015-2025)
- Historical Market Size (2019): USD 65 billion
- Forecast CAGR (2020-2025): 4.5%
- Forecast Market Size (2025): USD 84.6 billion
The rising awareness of eco-friendly goods among the consumers and western impact are driving the PET packaging market. The growing demand for carbonated drinks and ready-to-eat food items worldwide is contributing to the growth of the PET packaging market. Its low manufacturing and shipping costs, minimal solid wastage and storage, and the ease of transport have made PET packaging a preferred option among the manufacturers. The growing R&D to develop recyclable packaging solutions and technological advancements have increased the demand for PET packaging. These factors are expected to drive the PET packaging market over the forecast period.
Read Full Report with Table of Contents –https://www.expertmarketresearch.com/reports/PET-packaging-market
Industry Definition and Major Segments
Polyethylene terephthalate, also known as PET, is a thermoplastic polymer resin of polyester. It can be moulded into a variety of packaging containers like boxes, pouches, and PET bottles. PET packaging is commonly used in packaging food and beverage items, in personal care products, and pharmaceutical products owing to its properties like thermal stability, non-breakability, and resistance to microorganisms.
Based on form, the PET packaging market can be broadly divided into:
- Amorphous PET
- Crystalline PET
By packaging, the market is segmented into:
- Bottles and Jars
- Bags and Pouches
- Trays
- Lids/Caps and Closures
- Others
Based on the filling technology, the market is categorised into:
- Hot Fill
- Cold Fill
- Aseptic Fill
- Others
On the basis of end-user, the market is segmented into:
- Beverage Industry
- Household Goods Sector
- Food Industry
- Pharmaceutical Industry
- Others
The major regional markets for PET packaging are:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The key trend in the market is the production of lightweight bottles. Lightweight products are being preferred for cost-optimisation as they help manufacturers achieve a competitive edge. Government regulations across the world are promoting the usage of approved oxo-biodegradable materials for the production of packaging products. Manufacturers are trying to develop more sustainable products. More emphasis is being paid on the reusability and recyclability of the PET products due to environmental concerns. Recently, the U.S. based beverage giant Coca-Cola has announced the expansion of 2L returnable PET bottles in its South African division to help reduce plastic waste.
Key Market Players
The major players in the market are Amcor Plc, Berry Global Inc., Graham Packaging Company, RPC Group, Resilux NV (EBR: RES), and Plastipak Packaging, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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