Brand Story
28 Sep 2022, 11:15 GMT+10
The global PET packaging market is slated to reach a valuation of US$ 77.2 Bn in 2022. Expanding at a steady 4.9% CAGR, the market valuation is set to top US$ 124.1 Bn by 2032. PET material is a lightweight and clear plastic that's commonly used for packaging products. It is available in both rigid and flexible forms, which makes it useful for specific end-use applications. PET packaging is distinguished by its high strength, inexpensiveness, recyclability, lightweight, transparency, and high rigidity.
PET Packaging Market Size 2022
US$ 77.2 Bn
PET Packaging Market Size 2032
US$ 124.1 Bn
PET Packaging Market Value-based CAGR (2022-2032)
4.9%
PET Packaging Market Collective Value Share: Top 5 Companies (2022E)
20-25%
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Innovation and customisation of PET packaging are creating prospects for growth in the market. In addition to this, the ongoing expansion of sectors such as food & beverage, pharmaceutical & healthcare, personal care & cosmetics, and home care is expected to boost demand for PET packaging.
Further, the growing trend for sustainable plastic packaging solutions is anticipated to bolsters sales in the market. Manufacturers are launching customized solutions as per end-use requirements, which will augment the growth in the market.
"Growing preference for recyclable, durable and, cost-effective packaging solutions will bolster the demand for PET packaging. Also, customization offered by PET packaging manufacturers will fuel growth in the market," says an FMI analyst.
Key Takeaways:
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Competition Landscape
Berry Global Group, Mondi Group, Amcor plc, Sonoco Products Company, Huhtamäki Oyj, CCL Industries, Inc., Gerresheimer AG, Klöckner Pentaplast GmbH & Co. KG, ProAmpac LLC, Sealed Air Corporation, SCHUR FLEXIBLES GROUP, CLONDALKIN GROUP, Constantia Flexibles Group GmbH are some leading players operating in the global PET packaging market. Some recent developments include:
PET Packaging Market by Category
Packaging Type:
Product Type:
End-use Industry:
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Key Questions Answered in the Report
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Plastic Dielectric Films Market: Plastic Dielectric Films Market is expected to surpass US$ 1.5 Bn by 2029, likely to Grow Moderately at 4.1% CAGR during the assessment period
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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