PET Packaging Market Size
The PET (polyethylene terephthalate) packaging market is booming, with a whopping value of over $30 billion in 2022. And it's not slowing down anytime soon. Experts predict it will continue to grow by more than 5% every year until 2032. Why all the hype? It's all about our insatiable desire for food and drinks. PET packaging is a perfect fit for these products because it's transparent, lightweight, and easy to recycle. Not only is it great for the environment, but it's also convenient and affordable. As the food and beverage industry keeps growing, so will the need for PET packaging. That means even more opportunity for this already thriving market. One example is Mondi, a company that recently launched new food packaging that's not only recyclable but also designed to keep food fresh. This could help reduce food waste, making PET packaging a responsible choice for both businesses and consumers.
To get key market trends
Download Free Sample
PET packaging refers to the use of Polyethylene Terephthalate (PET), a versatile & lightweight thermoplastic material, in the manufacturing of various types of containers and packaging. It is commonly used for bottles, jars, and other food & beverage containers as well as for personal care & household products. PET packaging is valued for its transparency, durability & recyclability, making it a popular choice as a packaging solution across various industries.
PET Packaging Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2022 |
| PET Packaging Market Size in 2022 |
USD 30 Billion |
| Forecast Period |
2022 to 2032 |
| Forecast Period 2022 to 2032 CAGR |
5% |
| 2032 Value Projection |
USD 55 Billion |
| Historical Data for |
2018 - 2022 |
| No. of Pages |
220 |
| Tables, Charts & Figures |
287 |
| Segments covered |
Packaging type, product type, industry vertical & region |
| Growth Drivers |
- Growing demand for food & beverage products
- Increasing urbanization and industrialization
- Rising awareness of environmental sustainability
- Technological advancements in PET packaging
- Government support for PET recycling
|
| Pitfalls & Challenges |
- High cost of raw materials
- Lack of effective infrastructure for recycling
|
What are the growth opportunities in this market?
Download Free Sample
The lack of effective infrastructure for recycling hinders the sustainable disposal and reuse of PET materials, restraining the PET packaging market. Without proper recycling infrastructure, PET packaging products often end up in landfills or incinerated, contributing to environmental pollution and resource wastage. This impedes market growth as consumers and governments increasingly demand eco-friendly solutions. Additionally, limited recycling capabilities can lead to higher production costs for PET packaging manufacturers. To thrive in a competitive market, investments in recycling infrastructure are essential to meet environmental regulations and consumer preferences for eco-conscious packaging solutions.
COVID-19 Impact
The COVID-19 pandemic had an extensive effect on PET packaging. PET bottles were initially in high demand in the healthcare sector, primarily for hand sanitizers and medications. However, due to lockdowns, the demand for PET containers in the hospitality and restaurant businesses fell. The pandemic also affected supply networks and raised raw material prices. Consumer preferences for single-use packaging impacted product demand owing to contamination concerns. While the demand for PET packaging fluctuated and supply chain issues arose, its adaptability and diversity helped it remain a popular choice for a variety of applications during the pandemic period.
PET Packaging Market Trends
The PET packaging industry is increasingly focused on sustainability with a strong emphasis on recycling and the use of recycled PET (rPET) materials. Brands are adopting eco-friendly packaging options to reduce their environmental footprint. PET packaging is being designed to be lighter while maintaining its strength and integrity. This reduces material consumption and transportation costs, contributing to cost savings & environmental benefits.
PET's versatility allows for intricate and customized packaging designs, which can help products stand out on store shelves, thereby enhancing brand visibility. PET packaging incorporates user-friendly features, such as resealable closures, easy-open designs, and single-serve portions, to meet customer demand for convenience in their on-the-go lifestyles.
PET Packaging Market Analysis
Learn more about the key segments shaping this market
Download Free Sample
Based on product type, the market is segmented into bottles & jars, bags & pouches, caps & closures, trays, and others. The bottles & jars segment dominated the market with a share of over 20% in 2022.
- PET is a recyclable material, and the growing emphasis on eco-friendly packaging options has propelled the demand for PET bottles & jars, reducing environmental impacts. PET bottles & jars are lightweight, making their transportation and storage cost-effective. They are also versatile, making them suitable for a wide range of products from beverages to personal care items.
- PET's transparency allows consumers to see the product inside, enhancing visual appeal and trust, particularly in the food & beverage industry. PET packaging provides a barrier against contaminants and UV rays, ensuring the safety & integrity of the enclosed products.
Learn more about the key segments shaping this market
Download Free Sample
Based on packaging type, the market is divided into rigid packaging and flexible packaging. The flexible packaging segment is anticipated to register a CAGR of over 5% through 2032.
- PET is a versatile material that can be molded into various shapes and sizes, making it ideal for flexible packaging options such as pouches, bags & shrink sleeves.
- This flexibility in design enables efficient storage & transportation, reduces material waste, and enhances product visibility. Additionally, flexible PET packaging is lightweight, cost-effective, and often recyclable, aligning with sustainability trends & consumer preferences for eco-friendly options.
Looking for region specific data?
Download Free Sample
Hey there! Did you know that North America is like the king of the hill when it comes to plastic packaging? They've got a huge chunk of the pie, with over 35% of the global market share in 2022. And guess what? People are starting to care more about the environment these days, so using recycled plastic is becoming a big deal. North America's food and drink industry is booming, and PET packaging is the perfect match because it's lightweight, can handle rough handling, and won't break the bank. Oh, and PET has been getting some major upgrades lately, like becoming better at keeping things fresh and looking even better. Plus, governments are stepping up and saying, "Hey, let's make recycling and sustainability a thing." So, with all this going for it, it's no wonder the PET packaging industry in North America is just taking off.
PET Packaging Market Share
Players operating in the PET packaging industry focus on implementing different growth strategies to strengthen their offerings and expand their market reach. These strategies involve new product developments & launches, partnerships & collaborations, mergers & acquisitions, and customer retention. These players also heavily invest in research & development to introduce innovative and technologically advanced solutions in the market. Some of the major players operating in the PET packaging industry are
- Amcor Limited
- Berry Global Group Inc.
- CCL Industries, Inc.
- Gerresheimer AG
- Huhtamaki OYJ
- Silgan Holdings Inc.
- Sonoco Products Company
PET Packaging Industry News
- In September 2023, Mondi launched the first paper-based packaging for dry rice in the UK by collaborating with rice supplier, Veetee. Providing a direct replacement to plastic, the packaging features fit-for-purpose barrier properties to protect the product while supporting Veetee’s goals to reduce plastic usage.
- In January 2022, Berry Global Group, Inc. collaborated with TotalEnergies to make food packaging more circular and divert waste from landfills. TotalEnergies supplied Berry Global with Certified Circular Polymers obtained through advanced recycling of post-consumer plastic waste that is otherwise hard to recycle via existing processes.
The PET packaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
Click here to Buy Section of this Report
PET Packaging Market, By Packaging Type
- Rigid Packaging
- Flexible Packaging
PET Packaging Market, By Product Type
- Bottles & Jars
- Bags & Pouches
- Caps & Closures
- Trays
- Others
PET Packaging Market, By Industry Vertical
- Food & Beverages
- Personal Care & Cosmetics
- Chemicals
- Electronics
- Household Products
- Pharmaceuticals
- Others
The above information is provided for the following regions and countries
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- ANZ
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
