Technological Advancements in PET Packaging: A Ten-Year Outlook

The market for PET packaging is anticipated to be worth US$ 81.2 billion in 2023 and US$ 130.4 billion by 2033. Throughout the projection period, PET packaging sales are anticipated to grow at a CAGR of 4.9%.

PET, also referred to as polyethylene terephthalate, is a versatile type of polyester that has many advantageous qualities, including thermal stability, toughness, and resistance to microbes. According to the exact needs of the customer, PET resin pellets can be melted down and moulded into a variety of shapes, including bottles, cartons, and containers. PET packaging comes with a number of benefits, including preservation of quality, resistance to alcohol, solvents, moisture, and bacteria, and preservation of the packaged contents from deterioration. As a result, it has several uses in sectors like pharmaceuticals, food and drink, and personal care.

Development and customisation of PET packaging are making possibilities for development in the market. Also, the continuous development of areas like food and refreshment, drug and medical services, individual consideration and beauty care products, and home consideration are supposed to help interest for PET packaging.

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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:

The key objective of the global PET packaging report is to provide companies with a summary of the latest trends and lucrative business expansion opportunities for PET manufacturers, suppliers, and distributors. The report also demonstrates the key business strategies and principles adopted by the key players around the world. This report is intended to:

create greater awareness about PET packaging and how they are manufactured and distributed by companies;
increase access to information about the PET packaging business principles for other institutions that are planning to start the business;
promote the use of the PET packaging more generally in end-use industries

Will Increasing Focus On Design And Innovation In PET Packaging Influence Demand?

Surging demand for customized packaging solutions from various end use sectors is driving innovations in the packaging sector. Plastic packaging manufacturers are offering innovative and functional features in the product such as recyclable, lightweight, durable, easy-to-handle, and easy-to-use.

For instance, Amcor plc offers a PET round bottle that has various features such as tamper-evident, lightweight, recyclable, portable, and shatter-resistance. This trend is expected to continue over the assessment period, creating opportunities for growth in the market.

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PET Packaging Market By Category

Packaging Type: