PET Packaging Market Future Challenges, SWOT Analysis, Expert Review, and Industry Growth Outlook 2027
CCL Industries, Inc. (Canada), Amcor Limited (Australia), Rexam PLC (U.K.), Smurfit Kappa Group PLC (Ireland), Gerresheimer AG (Germany), KlöcknerPentaplast GmbH & Co. KG (Germany), and Graham Packaging (U.S.) are some of the prominent players at the forefront of competition in the global PET Packaging market and are profiled in MRFR Analysis.
PET Packaging Market – Market
Overview
The industry is driven by key
factors like rising population, increase in income levels and changing
lifestyles. Growth prospects of end-user segments are leading to rise in the
demand of the plastic packaging industry. Demand from rural sector for packaged
products is being fuelled by the increasing media penetration through the means
of internet and television. Further, India is emerging as the most favoured
destination for organized retail destination in the world. And also the
presence of E-commerce is expanding rapidly and is bringing around a revolution
in the retail industry. Going ahead recycling & reuse of plastics will be
an important step towards fostering innovation and sustainability. Also
increased awareness through help of industry groups and Government could help
address some of these challenges
The market for PET
Packaging Market is growing due to increasing demand in end-use
industries such as food, beverage, pharmaceutical, and personal care &
cosmetics. Many new trends have emerged in the market such as the availability
of hot-filling products in PET bottles and aseptic cold-filling PET bottles,
which increase the shelf life of the products even if they are not kept at the
optimum conditions. Recycling PET for re-use after sorting, cleaning, and
transforming PET containers is also becoming popular in the market.
Packaging plays a major role in
attracting customers to purchase the product. The beverage industry is the
largest end-user of PET packaging. Vendors are focussing on producing advanced
packaging products to prevent contamination. At present, the PET packaging
market is undergoing several technological innovations to eliminate the risk of
harmful substances entering into these containers. The latest technology
gaining preference among vendors is the plasma coating process, which includes
the coating of PET containers with protective layers that make them less
permeable.
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Accrediting
the colossal growth the PET Packaging market is witnessing currently and the
potential the market is demonstrating to accrue pervasively further in the years
to come; the Market Research Future
has recently published a meticulous
study report giving out the complete market insight up till 2023. According to
which, continuing with the same trends the global PET Packaging market is
projected to perceive an outstanding growth by 2023 registering a striking CAGR
during the anticipated period (2017 – 2023).
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Complete Report for Better Understanding —
https://www.marketresearchfuture.com/reports/pet-packaging-market-1779
PET Packaging Market – Competitive Analysis
PET Packaging Market
appears to be highly fragmented and competitive owning to the presence of
numerous large and small players active in regional market. The key strategies
traced from the analysis of recent developments of the key players include
Product Launch, Agreement & Partnership, Acquisition and expansion.
Strategic partnerships between Key players support the growth and expansion
plans of the key players during the forecast period. On the product and sales
side, companies are investing in innovation/R&D, brand building, and
fostering strong relationships with customers to support their competitive
position.
Industry
Overview:
Among
all types of plastic resins, polyethylene terephthalate (PET) is most used
across various industry verticals. Globally, in 2015, around 26.2 million tons
of PET is used in packing and 20.5 million tons is used in bottles only. The
latest innovations in recycling technologies have made the plastic recycling
process easier and more cost effective. The technologies include reliable
detectors, sophisticated decision and recognition software that collectively
enhance the productivity and accuracy of automatic sorting of plastics.
According to the Environmental
Protection Agency (EPA), the current PET bottle recycling rate results in an
energy savings equivalent to that consumed by 165,000 U.S. households each
year. If the national PET bottle recycling rate increased by just 25 percent,
we would avoid the greenhouse gas emissions equivalent to 131 million gallons
of gasoline.
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PET Packaging Market – Segments
For the convenience of the report and enhanced
understanding; The PET Packaging Market is segmented in to 4key dynamics
Segmentation
By End-user
industry - Food, Beverages, Pharmaceuticals, Cosmetics, Household goods, and others
Segmentation By Product- Bags,
Bottles, Closures, Trays, Cups, and others
Segmentation
By Type - Amorphous, and Crystalline
Segmentation
by Regions- Comprises regions - North America, Europe, APAC and
Rest of the World.
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PET Packaging Market – Regional Analysis
The recycling industry in Western
Europe is dominated by countries such as Germany, U.K., Belgium, Sweden etc.
Environmental awareness among consumers and stringent government regulations
imposed are responsible for high recycling rates in the region. Various
countries have implemented PET bottles returning policy including Germany,
Austria, Estonia, Denmark, Netherlands, Norway, Sweden and Switzerland.
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