Polyethylene Terephthalate (PET) Packaging Market 2018: Country Level Analysis, Current Industry Size, Future Prospective and Key Company Profiles
Sep 19, 2018
PET Packaging Market Research Report 2018: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation by Form (Amorphous PET, Crystalline PET), Pack type (Bottles & jars, Bags & pouches, Trays, Lids/Caps & closures, others), Packaging Type (Rigid, Flexible), End-use industry and Region
Hadapsar, Pune, India - September 19, 2018 /MarketersMedia/ —
PET Packaging Global Market – Overview
Polyethylene Terephthalate commonly abbreviated as PET is a form of polyester extruded or molded into plastic bottles and containers for packaging foods and beverages, personal care products, and many other consumer products. PET literally touches our everyday life. As a raw material, PET has acclaimed itself status of the most widely recycled plastic and has a global recognition as a safe, non-toxic, strong, lightweight, flexible material that is 100% recyclable. Virtually all municipal recycling programs across the globe accept PET packaging and thermoformed PET containers.
The essential role of a package is to protect the product it contains, delivering it safely, with all of its features and benefits intact. The PET packaging does this and much more offering a transparent, lightweight, strong, safe, shatterproof and recyclable packaging solution with an inherent barrier. PET packaging is safe package option for both home and away-from-home applications and is suitable for a wide array of product applications. PET is easy to store, carry, clean up and re-seal, making it the ideal package to accommodate active lifestyles. PET is easy to work with, allowing for new and innovative package design that offers customer choice for a wide variety of applications, including salad dressings, pasta sauce, peanut butter, ketchup, wine and beer. The new PET packaging options offer a solid mix of performance, cost, and consumer appeal.
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According to a recent study report published by the Market Research Future, the global market for PET Packaging is estimated to grow rapidly as ever, witnessing an exponential growth with a substantial CAGR during the forecast period (2016-2027).
PET packaging market is increasing rapidly due to changing consumer preferences in the food, beverages and healthcare industry. Manufacturers as well as consumers prefer PET packaging due to its excellent characteristic performance in humidity, moisture and temperature. Innovative trends along with the increasing population and per-capita income that drive the food and beverage industry; is propelling the market growth up to high extent. Moreover, awareness of waste reduction by use of recyclable materials is fueling the adoption of PET bottles and packaging in pharmaceuticals Industry is heavily propelling the market growth of PET Packaging.
However, factors such as - Manufacturers using degradable additives in their packaging have not provided adequate data to support claims that these additives do not negatively impact PET recycling, or the life-span and performance of products made from recycled PET, nor is there sufficient evidence of actual package degradability. Degradable additives are added to a primary resin such as PET. For NAPCOR’s positions on degradable additives and PLA mixed in with PET recycling stream, may challenge the market growth. Well, such factors are negligible anyway.
PET Packaging Global Market – Key Players
Major players having a strong presence in the international and regional market adorn the global PET Packaging market as highly competitive and fragmented. These key players compete on the basis of product differentiation, portfolio, and pricing, quality, innovation, reputation, distribution, and promotion. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players in the PET Packaging market.
The key players that are involved in Global PET Packaging Market are :
• E. I. Du Pont De Nemours and Company (U.S.)
• CCL Industries Inc. (Canada)
• Amcor Limited (Australia)
• Resilux NV (Belgium)
• Smurfit Kappa Group PLC (Ireland)
• Rexam PLC (U.K.)
• Gerresheimer AG (Germany)
• Graham Packaging Company (U.S.)
• Klöckner Pentaplast GmbH & Co. Kg (Germany)
• GTX Hanex Plastic Sp. Z O.O. (Poland)
• Berry Plastics Group Inc. (U.S.)
• Dunmore Corporation (U.S.)
• Huhtamäki Oyj (Finland)
• PET Power B.V. (The Netherlands)
• Silgan Holdings (U.S.)
PET Packaging Global Market – Synopsis
The focus on packaging as an important tool for brand differentiation is providing impetus to the demand for different-sized packs consequently positively influencing the growth of the PET packaging market. Several technological innovations are transpired in the PET packaging market on regular basis such as plasma coating process that incorporates the coating of PET containers with protective layers that make them leak-proof. Such protective barrier coating formed through plasma offers an enhanced chemical vapor deposition resulting in making the plastic stronger, more impervious, and easy to recycle. Another trend that making the rounds in PET packaging market is the silver coated plastic milk bottles that enhance the shelf life of milk and milk beverages. The silver-based nanoparticles have anti-microbial, bactericidal, and self-sterilizing properties which increase the shelf life of these bottles
PET Packaging Global Market – Segments
PET Packaging Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By End User Industry : Consisting Food, Beverages, Pharmaceuticals, Cosmetics, Household goods, and others.
Segmentation By Types : Consisting Amorphous PET, and Crystalline PET & others.
Segmentation By Product : Consisting Bags, Bottles, Closures, Trays, Cups, and others.
Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
PET Packaging Global Market – Regional Analysis
The global PET packaging market is majorly fragmented over four dominant regions, which are North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific dominated the global market in 2016 and is anticipated to grow at the highest CAGR over the forecast period, 2017-2023. Growing urbanization, increasing industrialization, low labor cost, high scope for foreign direct 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. Europe and North America held the second and third positions, respectively, with respect to market share in 2016. The dominance of these regions was due to the increasing per capita disposable income, coupled with growing preferences in consumer goods, thus, making a positive way for the development of the PET packaging market in Europe and North America.
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