The pet packaging global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
PET Packaging Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The pet packaging market size has grown strongly in recent years. It will grow from <b>$74.77 billion in 2023 to $78.89 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. </b> The growth in the historic period can be attributed to rise in beverage consumption, popularity in food packaging, growth in global population, shift from glass and metal packaging, convenience and portability, rise in single-serve packaging.
The pet packaging market size is expected to see strong growth in the next few years. It will grow to <b>$99.35 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. </b> The growth in the forecast period can be attributed to economic considerations, regulatory support for pet recycling, focus on circular economy, shift to lightweight packaging, customization and branding, eco-friendly initiatives by brands, health and safety considerations. Major trends in the forecast period include growing adoption of post-consumer recycled (pcr) pet, innovations in barrier properties, emphasis on shelf appeal and design, e-commerce packaging solutions, smart packaging and track-and-trace technologies, convenience features in pet packaging.
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Scope Of PET Packaging Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
PET Packaging Market Overview
Market Drivers –
The emerging e-commerce industry across the globe is expected to propel the growth of the PET packaging market going forward. E-commerce (electronic commerce) refers to the purchasing and selling of goods and services, along with the transmission of payments and data, over an electronic network, primarily on the internet. PET packaging helps the e-commerce industry with the packing of food and beverage products. For instance, according to the US Department of Commerce, the executive department of the U.S. federal government, concerned with economic growth and opportunity, in the first quarter of 2022, retail e-commerce sales increased by 2.4 % as compared to the first quarter of the previous year, 2021, which was valued at $250.0 billion. Therefore, the emerging e-commerce industry across the globe is driving the growth of the PET packaging market.
Market Trends –
Technological advancement is a key trend gaining popularity in the PET packaging market. Major companies operating in the PET packaging market are developing new products with advanced technologies to strengthen their position in the PET packaging market. For instance, in February 2022, IonKraft, a Germany-based start-up company operating in PET packaging introduced plasma technology, to make plastic packaging for barrier applications in the chemical industry recyclable, and thus replace the present multi-material solutions.
The pet packaging market covered in this report is segmented –
1) By Packaging Type: Rigid packaging, Flexible packaging
2) By Pack Type: Bottles and jars, Bags and Pouches, Trays, Lids or Caps and Closures, Other Packs (cups and clamshells)
3) By Filling Technology: Hot fill, Cold fill, Aseptic fill, Other Technologies (counter-pressure, low vacuum gravity, high vacuum gravity, and positive pressure)
4) By End-Use Industry: Food, Beverages, Personal Care and Cosmetics, Household Products, Pharmaceuticals, Other End-Use Industries (industrial goods and consumer durables)
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Regional Insights –
North America was the largest region in the PET packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the PET packaging market report during the forecast period. The regions covered in the pet packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the pet packaging market report are Amcor Limited, Resilux NV, Gerresheimer AG, Berry Global Group Inc., Silgan Holdings Inc., CCL Industries Inc., EI du Pont de Nemours and Company, Rexam PLC, Smurfit Kappa Group, Klöckner Pentaplast GmbH & Co KG, GTX Hanex Plastic Sp zoo, Dunmore Corporation, Huhtamaki Group, Graham Packaging Company LP, Sonoco Products Company, Bischof + Klein SE & Co. KG, Constantia Flexibles Group GmbH, Clondalkin Group Holdings, Alpla Werke Alwin Lehner GmbH & Co. KG, AptarGroup Inc., CKS Packaging Inc, Consolidated Container Company LLC, Cospack America Corp., Esterform Packaging Limited, Evergreen Packaging Inc, O.Berk Company, Greif Inc, Huhtamaki Americas Inc., RPC Group, Comar
Table of Contents
1. Executive Summary
2. PET Packaging Market Characteristics
3. PET Packaging Market Trends And Strategies
4. PET Packaging Market – Macro Economic Scenario
5. Global PET Packaging Market Size and Growth
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31. Global PET Packaging Market Competitive Benchmarking
32. Global PET Packaging Market Competitive Dashboard
33. Key Mergers And Acquisitions In The PET Packaging Market
34. PET Packaging Market Future Outlook and Potential Analysis
35. Appendix
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