PET Packaging Market– Overview
PET packaging market is driven by various factors such as its increase in demand from food & beverage and pharmaceutical industry. The increase in government policies regarding the food safety regulations is also driving the growth of the market. Food & Beverage industry has adopted PET packaging extensively across the world due to the some additional functionalities such as retention of integrity of a product and prevent food spoilage, enhance product attributes such as look, taste, and aroma, along with increased shelf life.
The growth of pharmaceutical industry on a global level has induced the demand of PET packaging. The rise in the income especially for the lower income level, along with the government commitments for providing basic health facilities, is expected to drive the pharmaceutical market growth and increase the investment on PET packaging.
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The market for PET packaging is growing due to rise in demand of sustainable & recyclable packaging. The emerging economies such as India, South Africa, and Brazil offer great potential for the PET packaging market.
PET packaging provides a wide range of benefits as compared to other forms of packaging which includes highest tensile strength of packaging polymers, good moisture and gas barrier and clear & translucent among others.
Among all types of plastic resins, polyethylene terephthalate (PET) is most used across various industry verticals. Globally, in 2015, around 26.2 million tons of PET is used in packing and 20.5 million tons is used in bottles only. The latest innovations in recycling technologies have made the plastic recycling process easier and more cost effective. The technologies include reliable detectors, sophisticated decision and recognition software that collectively enhance the productivity and accuracy of automatic sorting of plastics.
According to the Environmental Protection Agency (EPA), the current PET bottle recycling rate results in an energy savings equivalent to that consumed by 165,000 U.S. households each year. If the national PET bottle recycling rate increased by just 25 percent, we would avoid the greenhouse gas emissions equivalent to 131 million gallons of gasoline.
Industry/ Innovation/ Related News:
April 2017- Amcor Limited invested USD 7 million to open a bottle manufacturing plant in Paris, Texas. With this new manufacturing plant it is expected that the company will produce approximately 50 million hot-fillable PET bottles a year.
February 2017- Gerresheimer’s first eco-friendly plastic containers for pharmaceutical and cosmetic applications is branded BioPack. It makes an excellent substitute for traditional PE and PET because it has the same properties, yet it is completely recyclable.
October 2016– Polish plastic packaging manufacturer Plast-Box acquired local plastic packaging maker GTX Hanex Plastic sp. z o.o. from Luxembourg-based PET Packaging s.a.r.l.
2016- Klöckner Pentaplast Introduced New PET-Based Technology for Yogurt Packaging. clikPET embodies full polystyrene functionality, complemented by excellent gas and water vapor barrier properties, superior transport shock-resistance and the ability to bend and click. This achieves increased shelf-life up to 10 days, avoids cup breakage during distribution, helps the customers to reduce costs in a competitive environment.
June 2014- Graham Packaging has been collaborating with Vandemoortele on a PET bottle for the new Reddy product range oils for cooking and baking. The bottle will be produced in 500ml and 800ml content.
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PET Packaging Market – Key Players
Below are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global PET Packaging Market.
- Amcor Limited
- Berry Plastic Group Inc.
- Graham Packaging CCL Industries Inc.
- E. I. du Pont de Nemours and Company
- Smurfit Kappa Group PLC
- Gerresheimer AG
- Huhtamaki Group
- Resilux NV
- Klöckner Pentaplast Company
- GTX Hanex Plastic Sp. z o.o.
PET Packaging Market– Competitive Analysis
Key players adopted various strategies to retain and/or expand their market share. Key strategies followed by most companies within the global PET packaging market were new product developments. Extensive research in this market has brought to light that new product development and entering into strategic partnerships and collaboration are the key strategies adopted by the major players in the global PET packaging market. This strategy has been adopted to cater to the technological requirements of the PET packaging market for both rigid and flexible packaging segment. The market is highly technology driven across all applications and thus demands regular product innovation and increased investment in R&D. Furthermore the partnerships with other players across the supply chain ensures the expanding client base as well as the market share for the companies.
PET Packaging Market– Segmentation
The PET Packaging Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Type – Rigid and Flexible
Segmentation by Product – Bottles & jars, Bags & pouches, Lids/caps & closures, Trays, and others
Segmentation by Application – Food & Beverage, Pharmaceuticals, Consumer goods, Personal care, and others
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
PET Packaging Market– Regional Analysis
North America region is expected to dominate the Global PET packaging market. The region has witnessed increased investment in the R&D and product innovation as far as PET packaging is concerned. Furthermore, the stringent food safety policies in the countries of the U.S. and Canada drives the demand of PET packaging in the food & beverage sector.
Europe region is expected to grow with the highest CAGR during the forecast period, owing to factors such as increased investment by the companies in the packaging of healthcare and pharmaceutical products. The region has witnessed tremendous growth in the medical sector. This has opened doors for PET packaging in the healthcare sector.
Scope Of Report
The report for PET Packaging of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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