According to MarketIntelReports’ “Global PET Packaging Market 2016-2020”:
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PET stands for polyethylene terephthalate which is a form of polyester. It is extruded or molded into plastic bottles and containers for packaging foods and beverages, personal care products, and other consumer products. Pet packaging is safe for food, beverages, personal care, pharmaceutical, and medical applications due to its strong, lightweight, non-reactive, and shatterproof nature. Pet plastic bottles are used for packaging sodas, water, juices, salad dressings, cooking oil, etc. The PET Packaging Market provides high levels of commercial stability. It offers consumers a great brand experience and environmental benefits. It is also the most recycled packaging polymer on the shelves.
Scope & Regional Forecast of the PET Packaging Market
The PET Packaging Market is influenced by factors such as rising demand for different sized packs and increased focus on packaging. At present, the product packaging design is undergoing several technological innovations to increase permeability and eliminate the risk of harmful substances entering the containers. The latest technology which has gained preference among vendors is the plasma coating process which includes the coating of pet bottle with protective layers that makes it less permeable.
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Increasing population and per capita income which drive the food and beverage industry drive the growth of the PET Packaging Market. Awareness of waste reduction by using recyclable materials, adoption of packaging pet in pharmaceuticals and growing consciousness about environment friendly materials boost the market growth. But the market growth is limited by varying prices of raw materials and lack of appropriate recycling infrastructure.
The manufacturers in the PET Packaging Market are shifting towards packing beer by using pet plastic packaging. The beer bottles need a high barrier against carbon dioxide egress and oxygen ingress besides the need to have clarity and strength. These requirements have compelled the manufacturers to design the pet bottles using multi-layer preform molding and monolayer polyester structure to increase barrier properties.
The PET Packaging Market is dominated by the beverage industry which has the largest share in the market. The growing popularity of pet material from the food and beverage industry will influence the growth of the market. The increase in the sales of bottled water across the globe will be the main growth factor for pet packaging material. APAC will see the highest growth in the forecast period due to the high demand for food and beverage products and bottled water. Plastic pet has great barrier properties which protect the content of the product.
Segmentations & Key Players Involved in the PET Packaging Market
The PET Packaging Market can be broken down into various segments as follows:
- End User- Food industry, Beverage industry, Household goods sector, and Pharmaceutical industry.
- Region – APAC, Europe, North America, and ROW.
Some of the key players involved in the PET Packaging Market are as follows:
- PET Power
- Tetra Laval
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