PET Packaging Market by End-user and Geography - Forecast and Analysis 2020-2024

The PET packaging market size has the potential to grow by USD 12.13 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by end-user (beverages, household goods, food, and pharmaceutical) and geography (APAC, Europe, MEA, North America, and South America). 

PET Packaging Market Size

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Who are the Major PET Packaging Market Vendors?

The PET packaging market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:

• Amcor Plc
• Berry Global Group Inc.
• Constantia Flexibles Group GmbH
• Gerresheimer AG
• INOAC Corp.
• KP Holding GmbH & Co. KG
• LANINVER SHC SL
• Plastipak Holdings Inc.
• Silgan Holdings Inc.
• Tetra Laval International SA

The PET packaging market is fragmented with the presence of several regional and international players, which compete on parameters such as product launches, strategic acquisitions, and the expansion of production capabilities. This PET packaging market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies.

Market drivers such as the increasing adoption of PET packaging bottles in the alcoholic beverage industry will create immense growth opportunities for vendors. However, challenges such as the growing demand for substitute packaging products may impede the growth of the market participants.

Which is the Largest Market Segment Contributing to the PET Packaging Market Growth?

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Beverages account for the largest PET packaging market share in the end-user segment. The beverage industry has been the dominant end-user of the global PET packaging market. This is because the most commercially available beverages are sold in PET bottles. This segment will continue to hold the highest market share during the forecast period. 

An in-depth scenario-based approach was followed in this PET packaging market research report to identify the direct and indirect impact of COVID-19 on market growth. Buy the full market research report to gain actionable insights on the influence of COVID-19 on PET packaging market segments.

Which are the Key Markets for PET Packaging?

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APAC was the largest PET packaging market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Increasing demand for processed and packaged food and beverages and rapid growth in the retail e-commerce industry will significantly drive PET packaging market growth in this region over the forecast period.

44% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for PET packaging in APAC. Market growth in this region will be faster than the growth of the market in other regions.

What are the Key PET Packaging Market Drivers and Trends?

Consumers increasingly prefer PET bottles because of their convenience and aesthetic appearance. This is encouraging end-users, including alcoholic beverage manufacturers to adopt PET packaging. In addition to their aesthetic appearance, PET packaging also helps in reducing carbon emissions and transportation costs in the supply chain as they weigh less when compared to glass and metal containers. This is prompting alcoholic beverage manufacturers to adopt PET packaging, driving PET packaging market growth.

• The rising adoption of lightweight packaging is a significant trend that will affect the PET packaging market landscape.
• Goods manufacturers are exploring lightweight plastic packaging solutions to reduce production and transportation costs.
• Vendors are increasing their R&D efforts to develop new lightweight packaging solutions to reduce wastage and improve the usability.
• The growing popularity of lightweight packaging materials will positively impact the demand for PET packaging.
• The market will register a CAGR of almost 5% during the forecast period.

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Key Highlights of the PET Packaging Market Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive PET packaging market growth during the next five years
• Precise estimation of the PET packaging market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the PET packaging industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of PET packaging market vendors

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