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