Market Size of PET Packaging Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 71.23 Billion |
Market Size (2029) | USD 94.02 Billion |
CAGR (2024 - 2029) | 5.71 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
PET Packaging Market Analysis
The PET Packaging Market size is estimated at USD 71.23 billion in 2024, and is expected to reach USD 94.02 billion by 2029, growing at a CAGR of 5.71% during the forecast period (2024-2029).
The increasing demand for environmentally friendly packaging solutions and the outstanding properties of PET are expected to drive the growth of the global PET packaging market over the forecast period.
- The packaging sector keeps making significant strides in environment-friendly technologies to satisfy customer demand for a more sustainable society. Customers increasingly know that high-performance packaging may lengthen a product's shelf life. This awareness has increased the need for environment-friendly end-of-life packaging options, particularly PET (polyethylene terephthalate) packaging solutions.
- PET can result in weight reductions of up to 90% compared to glass, making shipping more affordable. As they provide reusable packaging for beverages like mineral water, PET plastic bottles have increasingly replaced bulky, brittle glass bottles in recent years.
- Several advancements and trends in how companies and products use PET indicate the attention on PET and the market's growth. PET has many uses and is easily blown into bottles or shaped into sheets due to its clarity and built-in CO2 barriers. PET characteristics can be enhanced with colorants, UV blockers, oxygen barriers/scavengers, and other additives to create bottles that meet a brand's requirements.
- PET containers are often used for packaging goods, including tennis balls, juice, salad dressing, cooking oil, peanut butter, liquid hand soap, and soda. PET is primarily used to make single-serving and two-liter bottles of carbonated soft drinks and water distributed throughout the nation, including the United States. Containers for take-home prepared meals that may be warmed in the oven or microwave are made of exceptional grades of PET.
- Most water and soft drink containers are constructed of highly recyclable polyethylene terephthalate (PET). However, attempts to collect and recycle the bottles to prevent them from damaging the oceans are falling behind as their use increases globally. For instance, if a PET bottle had 40%-60% recycled content, its emissions would be decreased by 32%-48% compared to one made from virgin material, according to a study examining the effects of single-use and reusable bottles for carbonated soft drinks.
- The COVID-19 pandemic provided significant relief to single-use packaging vendors. Although many countries were slowly banning these packaging and promoting reusable packaging, the pandemic changed consumer and government behavior. Due to COVID-19, the demand for nutritional drinks and healthy food increased exponentially. Most of these products are packaged with single-use plastic, such as PET.
PET Packaging Industry Segmentation
PET, also known as polyethylene terephthalate, is a type of polyester. It is expelled or shaped into plastic jugs and boxes for packaging food and refreshments, personal care items, and several other consumer products. PET is an ethylene glycol polymer and terephthalic corrosive.
The pet packaging market is segmented by product type (bottles and jars, bags and pouches, trays, lids/caps and closures, and other product types), packaging (rigid and flexible), end-user industry (food and beverage, pharmaceutical, personal care and cosmetic industries, industrial goods, household products, and other end-user industries) and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
By Product Types | |
Bottles and Jars | |
Bags and Pouches | |
Trays | |
Lids/Caps and Closures | |
Other Product Types |
By Packaging | |
Rigid | |
Flexible |
By End-user Industry | |
Food and Beverage | |
Pharmaceuticals | |
Personal Care and Cosmetic Industry | |
Industrial Goods | |
Household Products | |
Other End-user Industries |
By Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
PET Packaging Market Size Summary
The PET packaging market is poised for significant growth, driven by the increasing demand for sustainable and environmentally friendly packaging solutions. PET, or polyethylene terephthalate, is favored for its lightweight, shatterproof, and recyclable properties, making it an ideal choice for various packaging applications, including food and beverages. The material's ability to reduce shipping costs due to its lightweight nature and its versatility in being molded into different shapes and sizes further bolster its market appeal. The growing awareness among consumers about the benefits of high-performance packaging, which extends product shelf life, is also contributing to the rising demand for PET packaging. Additionally, the expanding e-commerce sector is supporting market growth, as PET's lightweight and durable characteristics make it a preferred choice for shipping products.
Regionally, China and India are significant markets for PET packaging, with China benefiting from its robust bottled water industry and India's growing trend towards on-the-go food consumption. Despite the increasing use of PET, there is a notable shift towards alternative packaging materials like glass and aluminum due to their eco-friendly attributes. The market is characterized by fragmentation, with major players such as Amcor Ltd, Gerresheimer AG, and Berry Global Group Inc. actively expanding their global presence through strategic partnerships and innovations. Recent advancements include the development of recyclable PET bottles and technologies that enhance the quality and sustainability of PET packaging. These efforts are aligned with broader environmental goals, such as reducing carbon footprints and increasing the use of recycled materials in packaging solutions.
PET Packaging Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Introduction to Market Drivers and Restraints
-
1.3 Market Drivers
-
1.3.1 Outstanding Properties of PET
-
1.3.2 Rising Demand for Environment-friendly Packaging
-
-
1.4 Market Restraints
-
1.4.1 Regulations Against the Use of Plastics in Some Regions
-
-
1.5 Value Chain Analysis
-
1.6 Industry Attractiveness - Porter's Five Forces Analysis
-
1.6.1 Threat of New Entrants
-
1.6.2 Bargaining Power of Buyers
-
1.6.3 Bargaining Power of Suppliers
-
1.6.4 Threat of Substitute Products
-
1.6.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 By Product Types
-
2.1.1 Bottles and Jars
-
2.1.2 Bags and Pouches
-
2.1.3 Trays
-
2.1.4 Lids/Caps and Closures
-
2.1.5 Other Product Types
-
-
2.2 By Packaging
-
2.2.1 Rigid
-
2.2.2 Flexible
-
-
2.3 By End-user Industry
-
2.3.1 Food and Beverage
-
2.3.2 Pharmaceuticals
-
2.3.3 Personal Care and Cosmetic Industry
-
2.3.4 Industrial Goods
-
2.3.5 Household Products
-
2.3.6 Other End-user Industries
-
-
2.4 By Geography
-
2.4.1 North America
-
2.4.1.1 United States
-
2.4.1.2 Canada
-
-
2.4.2 Europe
-
2.4.2.1 Germany
-
2.4.2.2 United Kingdom
-
2.4.2.3 France
-
2.4.2.4 Italy
-
2.4.2.5 Spain
-
2.4.2.6 Rest of Europe
-
-
2.4.3 Asia-Pacific
-
2.4.3.1 China
-
2.4.3.2 Japan
-
2.4.3.3 India
-
2.4.3.4 South Korea
-
2.4.3.5 Rest of Asia-Pacific
-
-
2.4.4 Latin America
-
2.4.4.1 Brazil
-
2.4.4.2 Argentina
-
2.4.4.3 Rest of Latin America
-
-
2.4.5 Middle East and Africa
-
2.4.5.1 United Arab Emirates
-
2.4.5.2 Saudi Arabia
-
2.4.5.3 South Africa
-
2.4.5.4 Rest of Middle East and Africa
-
-
-
PET Packaging Market Size FAQs
How big is the PET Packaging Market?
The PET Packaging Market size is expected to reach USD 71.23 billion in 2024 and grow at a CAGR of 5.71% to reach USD 94.02 billion by 2029.
What is the current PET Packaging Market size?
In 2024, the PET Packaging Market size is expected to reach USD 71.23 billion.