The global polyethylene terephthalate (PET) packaging market is expected to grow at a CAGR of nearly 6% during the forecast period. Food packaging solutions including flexible packaging have been experiencing a positive demand across the end-user industry sectors, such as pet food owing to cost-effectiveness and increased shelf-life of the product. Pet owners are willing to spend more on higher-value products and therefore, increasing pet adoption in various developed countries such as the US is increasing the demand for pet food positively affecting the market growth. For instance, according to the National Pet Owners Survey, conducted by the American Pet Products Association (APPA), 68% of US households own a pet.

Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in August 2021, Huhtamaki agreed to acquire Elif Holding A.?. (Elif), a major supplier of sustainable flexible packaging to global FMCG brand owners, with operations in Turkey and Egypt. As a result of this acquisition, Huhtamaki boosts its position as a leading flexible packaging provider in emerging markets and expands its existing flexible packaging business in appealing consumer product categories. Additionally, this acquisition adds scale in strategic geographies and aids Huhtamaki's progress toward its high sustainability aspirations. According to the firm, the acquisition also improves its technology capabilities and product portfolio, allowing it to serve its clients better.

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Market Coverage

The market number available for – 2023-2031
Base year- 2023
Forecast period- 2024-2031
Segment Covered-

By Product Type
By Packaging
By End-User
Regions Covered

North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Gerresheimer AG, Amcor plc, Berry Global, Inc., and Graham Packaging Co., among others.

Polyethylene Terephthalate (PET) Packaging Market Segmentation

By Product Type

Bottles and Jars
Bags and Pouches
Trays
Lids/Caps and Closures
Others
By Packaging

Rigid
Flexible
By End-User

Food and Beverage
Pharmaceuticals
Personal care and Cosmetics
Industrial Goods
Household Products
Others (Consumer Durables)
A full Report of Polyethylene Terephthalate (PET) Packaging Market is Available @ https://www.omrglobal.com/industry-reports/polyethylene-terephthalate-pet-packaging-market

Regional Analysis

North America

United States
Canada
Europe

UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific

India
China
Japan
South Korea
Rest of APAC
Rest of the World

Company Profiles

Amcor Ltd.
Berry Global Group Inc.
Comar LLC
Dunmore Corp.
Gerresheimer AG
Graham Packaging Co
GTX Hanex Plastic Sp. z o.o.
Huhtamaki OYJ
Nampak Ltd.
Resilux NV
Rexam plc
Silgan Holdings Inc.
Smurfit Kappa Group Plc
Sonoco Products Co
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