PET PACKAGING MARKET TO REACH USD 94.8 BILLION BY 2027 | CAGR 4.3% – FORENCIS RESEARCH

PET Packaging MarketΒ - Global Industry Analysis and Forecast 2020 to 2027

Global PET Packaging Market: Key Highlights

  • According to the new market research report PET Packaging Market by Form (Amorphous PET and Crystalline PET), by Packaging Type (Rigid Packaging and Flexible Packaging), by Pack Type (Bottles & Jars, Bags & Pouches, Trays, Lids/Caps, Closures, and Others), by End-User (Food & Beverages, Personal Care & Cosmetics, Household Products, and Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global PET Packaging market is estimated to reach USD 94.8 Billion by 2027 at a CAGR of around 4.3% during the review period.
  • Polyester resins are known for their excellent combination of properties such as mechanical, thermal, chemical resistance, and dimensional stability.
  • Polyethylene terephthalate (PET or PETE) is a general-purpose thermoplastic polymer which belongs to the polyester family of polymers.
  • PET is one of the most recycled thermoplastics, recycled PET can be converted to fibres, fabrics, sheets for packaging and manufacturing automotive parts.

PET Packaging Market

Global PET Packaging Market: Key Market Dynamics

  • Varying consumer preferences for healthy packaged food is boosting the growth of the PET packaging market in the food & beverage industry
  • To maintain the shelf quality of the food and to deal with external environment conditions, PET packaging is highly preferred
  • Increasing demand for PET botels from pharmaceuticals industries has further boosted the global PET packaging market during the forecasted period
  • However, fluctuation in raw material prices is one of the major restraint towards the market growth

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Global PET Packaging Market: Regional Overview

  • Asia-Pacific

Asia-Pacific dominated the global PET packaging market in 2019, and it is anticipated to grow at the highest CAGR during the forecasted period. The highest growth of this region can be attributed to the increasing population, as results in growing urbanization and industrialization, low labour cost, the high scope for foreign investment with economic evolution in major emerging nations, and an excellent hold on the industries, such as food & beverages, pharmaceutical & healthcare, and construction, are playing a vital role for the enhancement of the PET packaging market in this region.

Global PET Packaging Market: Key Players Overview

  • DuPont:

DuPont is a US-based company engaged in the invention of technology-based materials, ingredients and solutions. The company server its products and solutions to electronics, transportation, building and construction, health and wellness, food industry. The Company has subsidiaries in about 70 countries worldwide and manufacturing operations in about 40 countries. In May 2020, C-P Flexible Packaging (USA) has invested DuPont’s Cyrel EASY photopolymer plate technology to enhance the company’s high-definition and expanded gamut flexographic printing capabilities.

  • CCL Industries:

CCL Industries is engaged in providing solutions to the home & personal care, premium food & beverage, healthcare & specialty, automotive & durables and consumer markets worldwide. The company operates four business segments namely CCL, Avery, Checkpoint and Innovia. With over 22,000 employees, the company operates 183 production plants over 43 countries globally. In November 209, CCL Industries acquired Stuck On You Holdings Pty Ltd and Stuck on You Trading Pty Ltd (collectively “SOY”) (Australia). SOY is a direct-to-consumer online digital print business expanding Avery’s presence in personalized “kids’ labels” in Australasia.

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Rep Id : PK 04

Published : 2020-07-06

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