Global PET Packaging Market Information by Type (Rigid and Flexible) Product (Bottles & jars, Bags & pouches, Lids/caps & closures, Trays, and others), Application (Food & Beverage, Pharmaceuticals, Consumer goods, Personal care, and others) and region - Forecast to 2022

Pune, India -- (SBWire) -- 04/19/2018 --PET Packaging Market– Overview

PET packaging market is driven by various factors such as its increase in demand from food & beverage and pharmaceutical industry. The increase in government policies regarding the food safety regulations is also driving the growth of the market. Food & Beverage industry has adopted PET packaging extensively across the world due to the some additional functionalities such as retention of integrity of a product and prevent food spoilage, enhance product attributes such as look, taste, and aroma, along with increased shelf life.

The growth of pharmaceutical industry on a global level has induced the demand of PET packaging. The rise in the income especially for the lower income level, along with the government commitments for providing basic health facilities, is expected to drive the pharmaceutical market growth and increase the investment on PET packaging.

The market for PET packaging is growing due to rise in demand of sustainable & recyclable packaging. The emerging economies such as India, South Africa, and Brazil offer great potential for the PET packaging market.

PET packaging provides a wide range of benefits as compared to other forms of packaging which includes highest tensile strength of packaging polymers, good moisture and gas barrier and clear & translucent among others.

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Major Players

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.

Industry/ Innovation/ Related News:

April 2017- Amcor Limited invested USD 7 million to open a bottle manufacturing plant in Paris, Texas. With this new manufacturing plant it is expected that the company will produce approximately 50 million hot-fillable PET bottles a year.

February 2017- Gerresheimer's first eco-friendly plastic containers for pharmaceutical and cosmetic applications is branded BioPack. It makes an excellent substitute for traditional PE and PET because it has the same properties, yet it is completely recyclable.

October 2016- Polish plastic packaging manufacturer Plast-Box acquired local plastic packaging maker GTX Hanex Plastic sp. z o.o. from Luxembourg-based PET Packaging s.a.r.l.

2016- Klöckner Pentaplast Introduced New PET-Based Technology for Yogurt Packaging. clikPET embodies full polystyrene functionality, complemented by excellent gas and water vapor barrier properties, superior transport shock-resistance and the ability to bend and click. This achieves increased shelf-life up to 10 days, avoids cup breakage during distribution, helps the customers to reduce costs in a competitive environment.

June 2014- Graham Packaging has been collaborating with Vandemoortele on a PET bottle for the new Reddy product range oils for cooking and baking. The bottle will be produced in 500ml and 800ml content.

PET Packaging Market– Competitive Analysis

Key players adopted various strategies to retain and/or expand their market share. Key strategies followed by most companies within the global PET packaging market were new product developments. Extensive research in this market has brought to light that new product development and entering into strategic partnerships and collaboration are the key strategies adopted by the major players in the global PET packaging market. This strategy has been adopted to cater to the technological requirements of the PET packaging market for both rigid and flexible packaging segment. The market is highly technology driven across all applications and thus demands regular product innovation and increased investment in R&D. Furthermore the partnerships with other players across the supply chain ensures the expanding client base as well as the market share for the companies.

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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.

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.

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.