The Business Research Company’s PET Packaging Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The PET Packaging Global Market Report 2023 evaluates pet packaging market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global PET packaging market size is expected to grow from $70.90 billion in 2022 to $74.70 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global PET packaging is expected to grow to $92.32 billion in 2027 at a CAGR of 5.4%.
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.
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The pet packaging market segments in the report are:
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)
The table of contents in TBRC’s pet packaging market report includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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