PET Packaging Market Share, Growth Rate, Future Scope, Analysis, Business Development And CAGR To 2027
Top Players
Top vendors in the players that are responsible for the growth in the global PET Packaging Market Share, include Smurfit Kappa Group PLC (Ireland), Rexam PLC (U.K.), KlöcknerPentaplast GmbH & Co. KG (Germany), Gerresheimer AG (Germany), CCL Industries, Inc. (Canada), Amcor Limited (Australia), Graham Packaging (U.S.), and others.
Focusing on the competitive analysis, the global PET packaging industry is highly fragmented, with the chances of the level of fragmentation expected to reduce in the coming years. Intensifying competition has led to many of the vendors to indulge in merger and acquisition (M&A) activities. These types of inorganic strategies are projected to assist players in expanding their product portfolios as well as geographical reach across the globe.
Latest Development in the PET Product Packaging Industry
February 2019
Amcor has launched the multivitamin segment’s first PET container that is developed from completely post-consumer recycled content (PCR) resin.
Market Segmentation
The market for PET packaging has been segmented with respect to type, end-user industry, and product.
The market segmentation, based on type, covers Crystalline PET as well as Amorphous PET.
The end-user industries profiled in the report are food, household goods, beverages, cosmetics, pharmaceuticals, and others.
The product-wise segments discussed in the report include cups, bottles, bags, trays, closures, and others.
Regional Insight
Europe, Asia Pacific (APAC), North America and the rest of the world (RoW) are the top markets for PET packaging across the globe.
APAC is the leading market for PET packaging, with the prime reasons being the rising preference for carbonated beverages as well as ready-to-eat food products amongst the youth. Many of the manufacturers in the region are adopting PET packaging as they are now more aware of its benefits like minimal solid waste and storage needs, ease of transportation and low production and shipping costs.
In North America, the demand for plastic bottles as well as containers has risen exponentially in the United States (U.S.). Thus, the rising consumption, as well as industrial applications of plastic-made containers and the subsequent increase in demand for PET packaging, can foster the market growth in the region. The Plastics Industry Association (PLASTICS) says that the demand for plastic bottles is mounting aggressively in the United States. Also, the plastic use is increasing quickly across sectors like household, food and beverage, automotive chemicals and fluids and pharmaceutical, in the region.
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