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

Market Synopsis of PET Packaging Market

The key drivers of PET packaging are increasing foreign investment and rapid industrialization in the emerging nations. The global plastics industry is observing a continuous shift of production. Asia has become the largest and the fastest growing market for plastics in the world. The packaging industry is highly application driven. Industries such as pharmaceuticals, food & beverages, consumer goods among other utilize PET packaging in a big way. However, Food and beverages is the dominant industry due to increasing demand for packaged food items from all across the globe. The demand from the healthcare industry is also expected to drive the global PET packaging market to a large extent, after food & beverages

Plastic leads the market by material. It is the most preferred material when it comes to packaging due to its properties such as durability, firmness, and light-weight. On the basis of region, Asia Pacific region accounts for the fastest growing market, followed by North America and Europe. The region has seen an increased consumption of PET packaging from all major industries. The global PET packaging market size was valued at around USD 53 billion in 2015 and is expected to cross USD 75.4 Billion at CAGR of approximately 5.6% by 2022.

Regional Analysis of Global PET Packaging Market

APAC is the fastest growing market for PET packaging, followed by North America and Europe. The share of APAC is attributed to the rapid urbanization and population growth. The emerging nations of APAC are seen as low cost regions which induces the industrial growth. This further fuels the demand for such packaging across various industries. The demand for packaged food has gone up in Asian countries due to changing lifestyles and thus the demand for packaging materials in the sector has increased. After the economic liberalization the growth in the plastic industry was boosted in India. Asia has become the largest and the fastest growing market for plastics in the world.

Key Players

The key players of global pet packaging market report include Amcor Limited, Berry Plastic Group Inc., Graham Packaging, CCL Industries Inc., E. I. du Pont de Nemours and Company Smurfit Kappa Group PLC, Gerresheimer AG, Huhtamaki Group, KG Resilux NV, Klöckner Pentaplast Company and, GTX Hanex Plastic Sp. z o.o.

The report for Global PET Packaging Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

Information Source @ https://www.marketresearchfuture.com/reports/pet-packaging-market-1779