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
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The market for PET packaging 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.
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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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/RD, 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.
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.
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