The global PET packaging market size was US$ 63.1 billion in 2021. The global PET packaging market is forecast to grow to US$ 105.6 billion by 2030 by growing at a compound annual growth rate (CAGR) of 4.1% during the forecast period from 2022 to 2030.

Polyethylene terephthalate (PET) is a type of polyester used to pack food, personal care items, etc. PET materials are considered better as they offer enhanced transparency, shiny surface, and good stability. Moreover, they are lightweight and possess high-pressure resistance, which makes them suitable for packing products.

Factors Influencing the Market

The rising demand for packed foods, cosmetics, and other products is driving the growth of the PET packaging industry. In addition, the introduction of lightweight packaging options will offer ample growth opportunities for the global PET packaging market.
Manufacturers of goods are focusing on lowering manufacturing and transportation costs. As a result, it will benefit the PET packaging industry.
The rising urban population and growing inclination of the population towards packed food items are likely to drive the growth of the PET packaging industry.
Fluctuations in the prices of raw materials may limit the growth of the PET packaging market during the forecast period.
The growing demand for a better recyclable options is forecast to offer ample growth opportunities for the PET packaging market growth. For instance, the renowned ice cream brand Magnum made headlines in January 2021 as the company announced to use of recycled plastic. Such advancements are likely to benefit the overall PET packaging market.
COVID-19 Impact Analysis

The sudden onset of the COVID-19 pandemic has been beneficial for the PET packaging market. The demand for packed food and other products has significantly risen after the pandemic. In addition, the growing demand to keep the product safe is propelling the market forward.

Regional Analysis

North America is forecast to dominate the global PET packaging market in terms of revenue. The growth of the market is attributed to the rising e-commerce industry and increasing demand for packed food products. Asia-Pacific is forecast to register favorable growth in the global PET packaging market, owing to the changing consumer preferences and rising urban population. In addition, the availability of raw materials at low prices and low cost of production is likely to drive the growth of the industry. Because of their benefits over traditional packaging polymers, the usage of PET goods in the packaging sector is rapidly expanding in these regions. Furthermore, rising exports and domestic consumption will further propel the market forward.

Competitors in the Market

Alpha Group
Amcor plc
Berry Global Inc.
CKS Packaging
Comar LLC
Gerresheimer AG,
Graham Packaging Company
GTX HANEX Plastic Sp. z o. o.
Nampak Limited
PET Power
Plastipak
RESILUX NV
Silgan
Sonoco Products Company
Tetra Laval
Other Prominent Players
Market Segmentation

The global PET packaging market segmentation focuses on Product, Packaging, End-Use Industry, and Region.

Based on Product

Amorphous PET
Crystalline PET
Based on pack type
Bottles & jars
Bags & pouches
Trays
Lids/Caps & closures
Others
Based on Packaging Type

Rigid
Flexible
Based on End-Use Industry

Food & Beverages
Household Products
Personal Care Products
Pharmaceuticals
Others
Based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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