Thu, 01 Dec 2022

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%

Request a Sample to Obtain Authentic Analysis and Comprehensive Market Insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-14399

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:

  • Based on packaging type, demand in the rigid PET packaging segment will increase at a 5% CAGR through 2032.
  • By product type, the bottles & jars segment is projected to create an incremental opportunity of US$ 17.1 Bn.
  • In terms of end-use industry, food & beverage segment will expand at a steady pace pver the forecast period.

Discover More About Report Analysis with Figures and Data Tables, Along with The Table of Contents. Feel Free to Ask an Analyst https://www.futuremarketinsights.com/reports/pet-packaging-market

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:

  • In April 2020, Amcor plc announced the launch of a family stock of polyethylene terephthalate (PET) bottles to meet the increasing demand for e-commerce ready packaging.

PET Packaging Market by Category

Packaging Type:

  • Rigid PET Packaging
  • Flexible PET Packaging

Product Type:

  • Bottles & Jars
  • Caps & Closures
  • Trays & Clamshells
  • Bags & Pouches
  • Films & Wraps
  • Labels
  • Others

End-use Industry:

  • Food & Beverage
  • Pharmaceutical & Healthcare
  • Personal Care & Cosmetics
  • Homecare
  • Automotive Parts
  • Electricals & Electronics
  • Chemicals
  • Others

Contact Sales for Further Assistance in Purchasing This Report https://www.futuremarketinsights.com/checkout/14399

Key Questions Answered in the Report

  • How much was the valuation of the global PET packaging market in 2021?
  • What is the projected growth rate of the global PET packaging market?
  • What is the estimated valuation for the PET packaging market in 2032?
  • What are the trends driving sales in the PET packaging market?
  • Which are the top 5 countries driving the demand for PET packaging?
  • Who are the top five players in the PET packaging market?

Top Reports Related To Packaging Market Insights

Deblistering Machines Market: The global deblistering machines market is there to witness a linear CAGR of 4.8% between 2022 and 2031, reaching US$ 242.6 Mn by the year 2031.

BOPA Films Market: The global BOPA films market is slated to follow the go-getter approach. It is expected to reach US$ 1.6 Bn by the year 2030 at a CAGR of 5.3% between 2022 and 2030.

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.

Contact:

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,

Suite 401, Newark, Delaware - 19713, USA

For Sales Enquiries: sales@futuremarketinsights.com

Website: https://www.futuremarketinsights.com

Report: https://www.futuremarketinsights.com/reports/smart-parking-market

The post Global PET Packaging Market is projected to expand 1.6x the current value during 2022-2032 appeared first on Future Market Insights.

Original Source of the original story >> Global PET Packaging Market is projected to expand 1.6x the current value during 2022-2032

This content is published on behalf of the above source. Please contact them directly for any concern related to the above.

This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

More San Jose News

Access More

Sign up for San Jose News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!