According to the latest market research study released by Technavio, the global PET packaging market is expected to grow at a CAGR of close to 2% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Click here to request a free sample of this report
Technavio research analysts categorize the global PET packaging market based on end-user:
Global PET packaging market share by end-user 2015
|
Beverages Industry |
63.37% |
|
Household Sector |
13.97% |
|
Food Industry |
10.26% |
|
Pharmaceutical Industry |
4.61% |
|
Others |
7.49% |
Source: Technavio
The top three revenue contributing product segments are discussed below:
Global PET packaging market by beverages industry
The global PET packaging market by beverages industry was valued at over $31 billion during 2015 and is expected to grow at a CAGR of around 7% by 2020. The increasing demand for plastic packaging and PET bottles will lead to the growth of the market segment during the forecast period. These products are mainly used for packaging carbonated soft drinks, tea, and coffee. The PET bottles are designed weighing between 16.9 ounces and 24 ounces and are considered safe and reliable for water packaging. PET bottle manufacturers have worked with bottled water companies to minimize the content of acetaldehyde through the purge and trap technique.
“PET containers provide support, external environment protection, and tamper resistance for beverages. These also aid in the reliable distribution of beverages throughout the value chain and reduce post-production damage. The manufacturers are manufacturing innovative and aesthetically appealing packaging products to increase their sales and profitability. These products are preferred over glass bottles and metal containers for beverages as they are lightweight, inexpensive, and available in various designs and colors,” says Sharan Raj, a lead analyst at Technavio for research on packaging.
Global PET packaging market by household goods sector
The global PET packaging market by household goods sector was valued at around $7 billion during 2015 and is expected to grow at a CAGR of about 3% by 2020. The increasing demand for packaging laundry and surface care products will fuel the growth of this market segment during the forecast period. The vendors for surface care products generally opt for transparent packaging to allow consumers to check the color and consistency of the products before buying. Manufacturers of detergent and laundry care are also opting for transparent bottles as these bottles increase the aesthetic appeal of the products. Companies are also introducing plastics that contain 100% post-consumer recycled (PCR) PET resins to reduce energy consumption and carbon footprint.
Global PET packaging market by food industry
The global PET packaging market by food industry was valued at around $5 billion during 2015 and is expected to grow at a CAGR of about 5% by 2020. Features like glass-like transparency and adequate gas barrier properties that help in the retention of the quality of the content inside will have a positive impact on the growth of this market segment. The major types of packaging include containers that include bottles, jars and tubs; a semi-rigid sheet for thermoforming like trays and blisters; and thin-oriented films like bags, pouches, and snack food wrappers. These products are flexible containers and can easily take up the shape of products that need to be packed. These also have excellent thermal properties and are used over a wide range of temperatures from -94 degrees Fahrenheit to 302 degrees Fahrenheit. PET films are ideal for use of retort packaging, dual ovenable lidding, and microwaveable applications.
The top leading vendors operating in the global PET packaging market are:
- Amcor
- Gerresheimer
- PET Power
- Silgan
- Tetra Laval
Other prominent vendors in the market include Alpha Group, Plastipak, CKS Packaging, Exopackaging, Greiner Packaging, Himalayan Group, INOAC, Kaufman Container, Kian Joo Group, Parker Plastics, Parkway Plastics, RESILUX, Savola Plastic, Sidel International, SKS Bottle & Packaging, Snapware, Southeastern Container, Sunrise Containers, Temkin Plastics, and Ultrapak.
A more detailed analysis is available in the Technavio report titled, ‘Global PET Packaging Market’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Molded Plastic Packaging Market 2016-2020
- Global High-Barrier Pouches Market 2016-2020
- Global Fruit Juice Packaging Market 2016-2020
To read more press releases- click here.
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
