“Growing demand in the food segment to drive the market for PET packaging”
The global market for PET packaging is projected to grow from USD 57.64 billion in 2016 to reach USD 74.32 billion by 2021, at an estimated CAGR of 5.21%. The market for PET packaging is driven by growing demand in industries such as food, beverage, personal care & cosmetics, pharmaceutical, and household products, in both developed and developing countries.To retain the quality of the food and to increase the shelf life of packaged goods PET packaging is highly preferred in the food segment.
“Rigid packaging segment is projected to growat a healthy CAGR during the forecast period”
The rigid packaging segment is projected to be the fastest-growing packing type in the PET packaging market in the next five years. Rigid packaging is highly preferred in manufacturing bottles, containers, trays, and jars. Rigid packaging end-products are gaining preferences in industries such as food, beverage, and pharmaceutical as these devolve excellent performance in extreme conditions such as humidity, temperature, and moisture.
“Asia-Pacific to be the fastest-growing market during the forecast period”
The Asia-Pacific region is projected to be the fastest-growing market during the forecast period, followed by Europe, from 2016 to 2021. Japan accounted for the largest consumption of PET packaging, followed by China in 2015. In North America, the U.S. is the largest consumer of PET packaging. The key reasons behind the growth in the Asia-Pacific region are emerging economies, growing awareness of sustainable packaging, and, most importantly, the increasing trends in end-use industries such as food, beverage, and pharmaceutical.
Breakdown of Primaries
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier1 –41%, Tier2 –17%, and Tier3 –42%
- By Designation: C-level –48%, Manager Level – 32%, and Others –20%
- By Region: North America –44%, Europe –19%, Asia-Pacific – 28%, and RoW –9%
Note: The tier of the companies is defined on the basis of their total revenue, as of 2014. Tier1: Revenue >USD 500 million, Tier2: Revenue USD 100 to 500 million, and Tier 3: Revenue < USD 100 million.
The various suppliers of PET packaging profiled in the report are:
- CCL Industries, Inc. (Canada)
- E. I. du Pont de Nemours and Company (referred as DuPONT) (U.S.)
- Amcor Limited (Australia)
- Resilux NV (Belgium)
- Rexam PLC (U.K.)
- Smurfit Kappa Group PLC (Ireland)
- Gerresheimer AG (Germany)
- KlöcknerPentaplast GmbH & Co. KG (Germany)
- Graham Packaging (U.S.)
- GTX Hanex Plastic Sp. z o.o. (Poland)
- Berry Plastic Group Inc. (U.S.)
- Dunmore (U.S.)
- Huhtamaki Group (Finland)
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the PET packaging market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
- The report helps stakeholders to understand the market and provides them information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to better understand their competitors and gain more insights into their position in the business.