PET Packaging Global Market – Overview
Polyethylene Terephthalate commonly abbreviated as PET is a form of polyester extruded or molded into plastic bottles and containers for packaging foods and beverages, personal care products, and many other consumer products. PET literally touches our everyday life. As a raw material, PET has acclaimed itself status of the most widely recycled plastic and has a global recognition as a safe, non-toxic, strong, lightweight, flexible material that is 100% recyclable. Virtually all municipal recycling programs across the globe accept PET packaging and thermoformed PET containers.
The essential role of a package is to protect the product it contains, delivering it safely, with all of its features and benefits intact. The PET packaging does this and much more offering a transparent, lightweight, strong, safe, shatterproof and recyclable packaging solution with an inherent barrier. PET packaging is safe package option for both home and away-from-home applications and is suitable for a wide array of product applications. PET is easy to store, carry, clean up and re-seal, making it the ideal package to accommodate active lifestyles. PET is easy to work with, allowing for new and innovative package design that offers customer choice for a wide variety of applications, including salad dressings, pasta sauce, peanut butter, ketchup, wine and beer. The new PET packaging options offer a solid mix of performance, cost, and consumer appeal.
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According to a recent study report published by the Market Research Future, the global market for PET Packaging is estimated to grow rapidly as ever, witnessing an exponential growth with a substantial CAGR during the forecast period (2016-2023).
PET packaging market is increasing rapidly due to changing consumer preferences in the food, beverages and healthcare industry. Manufacturers as well as consumers prefer PET packaging due to its excellent characteristic performance in humidity, moisture and temperature. Innovative trends along with the increasing population and per-capita income that drive the food and beverage industry; is propelling the market growth up to high extent. Moreover, awareness of waste reduction by use of recyclable materials is fueling the adoption of PET bottles and packaging in pharmaceuticals Industry is heavily propelling the market growth of PET Packaging.
However, factors such as – Manufacturers using degradable additives in their packaging have not provided adequate data to support claims that these additives do not negatively impact PET recycling, or the life-span and performance of products made from recycled PET, nor is there sufficient evidence of actual package degradability. Degradable additives are added to a primary resin such as PET. For NAPCOR’s positions on degradable additives and PLA mixed in with PET recycling stream, may challenge the market growth. Well, such factors are negligible anyway.
PET Packaging Global Market – Key Players
Major players having a strong presence in the international and regional market adorn the global PET Packaging market as highly competitive and fragmented. These key players compete on the basis of product differentiation, portfolio, and pricing, quality, innovation, reputation, distribution, and promotion. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players in the PET Packaging market.
The key players that are involved in Global PET Packaging Market are:
- CCL Industries Inc. (Canada)
- Amcor Limited (Australia)
- Rexam PLC (U.K.)
- Smurfit Kappa Group PLC (Ireland)
- Gerresheimer AG (Germany)
- KlöcknerPentaplast GmbH & Co. KG (Germany)
- Graham Packaging (U.S.)
- E. I. Du Pont De Nemours and Company (U.S.)
- Klöckner Pentaplast GmbH & Co. Kg (Germany)
- GTX Hanex Plastic Sp. Z O.O. (Poland)
- Berry Plastics Group Inc. (U.S.)
- Dunmore Corporation (U.S.)
- Huhtamäki Oyj (Finland)
- PET Power B.V. (The Netherlands)
- Silgan Holdings (U.S.)
PET Packaging Global Market – Synopsis
The focus on packaging as an important tool for brand differentiation is providing impetus to the demand for different-sized packs consequently positively influencing the growth of the PET packaging market. Several technological innovations are transpired in the PET packaging market on regular basis such as plasma coating process that incorporates the coating of PET containers with protective layers that make them leak-proof. Such protective barrier coating formed through plasma offers an enhanced chemical vapor deposition resulting in making the plastic stronger, more impervious, and easy to recycle. Another trend that making the rounds in PET packaging market is the silver coated plastic milk bottles that enhance the shelf life of milk and milk beverages. The silver-based nanoparticles have anti-microbial, bactericidal, and self-sterilizing properties which increase the shelf life of these bottles.
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 Global Market – Segments
PET Packaging Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By End User Industry : Consisting Food, Beverages, Pharmaceuticals, Cosmetics, Household goods, and others.
Segmentation By Types : Consisting Amorphous PET, and Crystalline PET & others.
Segmentation By Product : Consisting Bags, Bottles, Closures, Trays, Cups, and others.
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
PET Packaging Global Market – Regional Analysis
Asia-Pacific dominates the Global PET packaging Market with the largest market share owing to the high demand for food and beverage products and bottled water; this dominance is expected to continue during the forecast period. Europe and U.S is expected to grow in 2016 to become the largest market for PET packaging and expected to grow at a substantial CAGR during 2016 to 2023.
Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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