Polyethylene Terephthalate (PET) Packaging Market Increasing Demand, Growth Analysis and Future Outlook by 2031
Polyethylene Terephthalate (PET) Packaging Market Increasing Demand, Growth Analysis and Future Outlook by 2031
Blog Article
The global polyethylene terephthalate (PET) packaging market is expected to grow at a CAGR of nearly 6% during the forecast period. Food packaging solutions including flexible packaging have been experiencing a positive demand across the end-user industry sectors, such as pet food owing to cost-effectiveness and increased shelf-life of the product. Pet owners are willing to spend more on higher-value products and therefore, increasing pet adoption in various developed countries such as the US is increasing the demand for pet food positively affecting the market growth. For instance, according to the National Pet Owners Survey, conducted by the American Pet Products Association (APPA), 68% of US households own a pet.
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Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in August 2021, Huhtamaki agreed to acquire Elif Holding A.?. (Elif), a major supplier of sustainable flexible packaging to global FMCG brand owners, with operations in Turkey and Egypt. As a result of this acquisition, Huhtamaki boosts its position as a leading flexible packaging provider in emerging markets and expands its existing flexible packaging business in appealing consumer product categories. Additionally, this acquisition adds scale in strategic geographies and aids Huhtamaki's progress toward its high sustainability aspirations. According to the firm, the acquisition also improves its technology capabilities and product portfolio, allowing it to serve its clients better.
Global Polyethylene Terephthalate (PET) Packaging Market Report Segment
By Product Type
- Bottles and Jars
- Bags and Pouches
- Trays
- Lids/Caps and Closures
- Others
By Packaging
- Rigid
- Flexible
By End-User
- Food and Beverage
- Pharmaceuticals
- Personal care and cosmetics
- Industrial goods
- Household Products
- Others (consumer durables)
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Polyethylene Terephthalate (PET) Packaging Market Report Segment by Region
North America
- United States
- copyright
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Amcor Ltd.
- Berry Global Group Inc.
- Comar LLC
- Dunmore Corp.
- Gerresheimer AG
- Graham Packaging Co
- GTX Hanex Plastic Sp. z o.o.
- Huhtamaki OYJ
- Nampak Ltd.
- Resilux NV
- Rexam plc
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