USD 41.03 Billion
Report ID:
SQMIG15E2580 |
Region:
Global |
Published Date: January, 2025
Pages:
198
|Tables:
99
|Figures:
71
Global PET Packaging Market size was valued at USD 41.03 Billion in 2023 and is poised to grow from USD 42.34 Billion in 2024 to USD 66.28 Billion by 2032, growing at a CAGR of 5.76% in the forecast period (2025-2032).
The global PET packaging market growth is predicted to boost rapidly over the forecast period due to the sustained demand from various end-use industries, such as beverages, food, pharmaceuticals, personal care & cosmetics, and others. Furthermore, the growing demand for recyclable and sustainable packaging is anticipated to further propel market growth over the forecast period. Furthermore, growing use of polyethylene terephthalate (PET) packaging as an alternative to metal, and glass containers would also promote the growth of the global PET packaging market. In addition, increasing water pollution worldwide is expected to increase the use of bottled water which will also positively contribute to the growth of the market.
There are growing demand functions of functional beverages especially amongst the young, henceforth predicted to enhance growth prospects for PET packaging. On-the-go consumption or single-serve on-the-go meals also reflect a trend to growth that could further augment PET packaging, and then the pursuit of sustainable yet light weight products also form another source for improving industry growth. Furthermore, the growing pharmaceutical industry is predicted to contribute to the growth of the global PET packaging market. PET material is widely used for manufacturing containers, dropper bottles, and nasal spray bottles and clamshells used for packaging medical devices and components.
Market snapshot - (2025-2032)
Global Market Size
USD 41.03 Billion
Largest Segment
Rigid Packaging
Fastest Growth
Flexible Packaging
Growth Rate
5.76% CAGR
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The global PET packaging market is segmented into packaging type, product type, end user, and region. By packaging type, the market is bifurcated into rigid packaging and flexible packaging. Depending on product type, it is classified into bottles & jars, caps & closures, trays & clamshells, bags & pouches, films & wraps, and sachets & stick packs, and cans & containers. According to end user, the market is divided into food & beverage, pharmaceutical, personal care & cosmetics, automotive, electricals & electronics, chemicals, building & construction, agriculture, household, and others. Regionally, it is studied across North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
As per the 2024 global PET packaging market analysis, rigid packaging dominated the industry due to its excellent durability, protective features, and the ability to keep the product integrity intact. Rigid PET packaging, including containers, bottles, and jars, is recommended for several industries such as food, drinks, and organic spices, where the quality, taste, and freshness of products need to be preserved. The natural strength of rigid PET ensures efficient defense against environmental factors such as moisture, oxygen, and light, thus ensuring longer shelf life for the products. Moreover, rigid PET packaging is a great option for high-end products because it can maintain the premium look and branding of the products. Manufacturers still prefer rigid PET packaging because customers still place a high value on product preservation and quality.
However, the flexible packaging category is expected to grow faster than rigid packaging. This growth is because of the increased demand from consumers for packaging that is lightweight, easy, and space efficient. Advantages of flexible PET packaging, including pouches and stand-up bags, include easier storage, cheaper shipping, and the ability to pack more products into a smaller area. The growth awareness of environmental issues is pushing the use of flexible PET packaging, which is recyclable and biodegradable. Flexible PET packaging will be the future driver of market expansion, as these packaging options become more inventive, economical, and consumer friendly.
Based on the 2024 global PET packaging market forecast, the bottles & jars segment holds a significant position. Owing to their strength, durability, and ability to preserve the integrity of the contents, PET bottles and jars are widely used in various sectors, such as food, beverages, personal care, and household products. In addition, PET packaging's transparency enhances product visibility, which is vital for consumer attraction. PET bottles are widely used for beverages, whereas jars are used for organic sauces, jams, and spices. Bottles and jars are the most popular type of PET packaging because of their adaptability, simplicity of use, and capacity to protect goods from environmental influences.
The bags & pouches segment is expected to grow at a significant rate. With these growing needs of an eco-friendly solution, the space-efficient packing, and convenience of flexible PET packaging, such as pouches and stand-up bags, have gained popularity. These kinds of packaging are great for storage- convenient items such as snacks, drinks, and spices. Besides, rising sustainability and recyclable materials trends boost bags and pouch demand. Due to affordability, light design, and resalable traits which also keep the product fresh for some period of time, bags and pouches are highly increasing popularity for the businesses and for customers also.
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North America has now become the largest market share region due to the well-established packaging sector and strong demand for packaged food, drinks, and consumer goods. Strong industrial capabilities, technological developments, and a large customer base that values quality and convenience are some of the advantages that characterize the region. The supremacy of North America is further complemented by the increased usage of PET packaging for environment-friendly and sustainable purposes. Businesses in the region are also focusing on recyclability and innovative packaging designs, which will further augment the segment's growth.
The PET packaging market is predicted to grow at the highest rate in Asia-Pacific. The major factors driving this growth are rapid industrialization, growing consumer demand for packaged goods, and the growing middle class in countries such as China, India, and Southeast Asia. Factors such as growing disposable incomes, shifting lifestyles of consumers, and the increased trend of urbanization are resulting in increased demand for PET packaging. In addition, the region is also going to be spurred by the development of the e-commerce industry and usage of sustainable solutions for packaging. Asia-Pacific will be the strongest developing region in the PET packaging market, as companies focus on delivering innovative and cost-effective packaging solutions.
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Growth of E-commerce
Packaging Technological Developments
Competition of Alternative Materials
Pressure from Regulations on Plastics
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The global PET packaging market is highly competitive, and key players focus on cost efficiency, sustainability, and innovation. Some of the leading companies in the industry are Amcor PLC, Sealed Air Corporation, Plastipak Packaging, and SABIC. Investing in innovative technologies such as rPET, green packaging solutions, and other strategies, these companies propel the industry further. As consumers make an urgent demand for eco-friendly packaging solutions, the industry leaders have strived to strengthen their market positions through strategies such as alliances, acquisitions, and the development of new product portfolios.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global PET packaging market outlook is changing rapidly due to increasing consumer demand for convenient, lightweight, and durable packaging solutions. Trends of sustainability, popularity of rPET, and innovative designs of packaging are contributing to the growth of the market. Though environmental concerns and competition with alternative materials were against PET packaging, it is able to retain the market with cost-effectiveness and versatility. A lot of consumer interest in environment-conscious products will attract companies to go green; so, adoption of rPET increases further. Gains in the e-commerce area and technological progress of the sector under various kinds of regulatory pressure, the PET packaging market, for sure will change and find more scope and areas beneficial for both parties, manufacturers and consumers.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 41.03 Billion |
Market size value in 2032 | USD 66.28 Billion |
Growth Rate | 5.76% |
Base year | 2024 |
Forecast period | (2025-2032) |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the PET Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the PET Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the PET Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the PET Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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