Jun 08, 2020, 09:08 EST
New York, United States, Jun 08, 2020, 09:08 /Comserve / -- The global PET material packaging market is anticipated to record a significant CAGR during the forecast period, i.e. 2020-2028.
Research Nester released a report titled “PET Material Packaging Market - Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the global PET material packaging market in terms of market segmentation by packaging, by end-user industry, by product, by filling technique, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
PET material packaging provides convenience to stockpile the consumer goods as well as the other end-user products owing to the versatile properties of PET which make the products virtually unbreakable, lightweight, and high-pressure resistance along with aesthetic and stable design. The global PET material packaging market is anticipated to record a significant CAGR during the forecast period, i.e. 2020-2028. Increasing demand for consumer goods among the consumer around the world, increasing purchasing power, and growing consumer awareness are some of the factors anticipated to benefit the market growth of the PET material packaging during the forecast period.
The global PET material packaging market is segmented by packaging, by end-user industry, by product type, by filling technology and by region. The packaging type is further segmented into two categories: rigid packaging and flexible packaging. Based on the packaging type the rigid packaging segment is projected to hold the largest market share owing to rising demand in end-user products including trays, containers, closures, and bottles & jars. The rigid packaging segment is also anticipated to hold the largest market share by the end of 2028.
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Based on the regional analysis, the PET material packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market for PET material packaging in Asia-Pacific is predicted to hold the leading share in the market. The markets in North America and Europe are anticipated to hold the second and third positions, respectively. Increasing purchasing power, along with growing preferences in consumer goods are some of the factors that can provide significant growth in the market share of these regions.
Increasing demand for consumers goods to positively impact the demand for PET packaging
According to the World Integrated Trade Solution, the total value of exports (FoB) was USD 20,834,690 million in 2018, where Consumer goods exports held a product share of 31.30% and worth USD 6,520,905 million.
The global demand for consumer goods is rising profoundly and is predicted to attain more growth in the coming years. All of the consumer goods required some kind of packaging either rigid such as bottles & jars or flexible such as PET packaging films for packaged food items. The rising demand for consumer goods coupled with the increasing purchasing power is expected to aid in the rising demand for PET material packaging during the forecast period. However, PET material packaging is recyclable and environmental-friendly, on the other hand, it is not bio-degradable and it cannot be degenerated completely, resulting in plastic pollution. These are some of the factors estimated to limit the growth of the global PET material packaging market.
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This report also provides the existing competitive scenario of some of the key players of the PET material packaging market which includes company profiling of Gerresheimer AG (ETR: GXI), Amcor PLC (NYSE: AMCR), Berry Global Inc. (NYSE: BERY), Graham Packaging Company (NYSE: GRM), RESILUX NV (EBR: RES), Nampak Ltd. (JSE: NPK), CCL Industries (TSE: CCL.B), Smurfit Kappa (LON: SKG), Silgan Holdings Inc. (NASDAQ: SLGN), and Klöckner Pentaplast. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global PET material packaging market that will help industry consultants, manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
Research Nester is a one-stop service provider, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives to make wise decisions for their future investment and expansion by providing them qualitative market insights and strategies while avoiding future uncertainties. We believe in honesty and sheer hard work that we trust is reflected in our work ethics. Our vision is not just limited to gain the trust of our clients but also to be equally respected by our employees and being appreciated by the competitors.
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