PET Packaging Market Size | COVID-19 Impact

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PET is denoted as polyethylene terephthalate, is a type of polyester, which can easily be shaped into plastic boxes or plastic jars for packaging of refreshments and food, beverages, pharmaceuticals, and several other consumer products.

Segmentation Overview

In the reports of MRFR, the global PET Packaging Market Size has been segmented by type, end-user, and by-product.

By type segment, the market includes amorphous PET and crystalline PET. Of these, the amorphous PET segment seized a significant market share in 2016, as this trend is augured to continue throughout the forecast period rapidly.

By product segment, the market includes bags, bottles, closures, trays, cups, and others. Among these, the bottles & jars segment is leading the market share and is projected to be continually rising during the forecast period. Besides, the rising demand for cost-effective and bearable packaging in end-use industries such as food, beverages, pharmaceutical, and personal care is resulting in the rise in demand for bottles and jars worldwide.

Drivers and Trends

Apart from this, many beverage manufacturers are now investing more in project setups for the production of cost-effective PET bottles to keep safety measures for food packing and attract a higher number of consumers as well. This activity is has increased in demands of packaging of carbonated beverages using PET and hence, fueling the growth of the overall PET Packaging Market Size.

Regional Analysis

The global PET Packaging Market Size is profoundly split among numerous regional vendors. Asia-Pacific is accounted to be leading in the share of global PET Packaging Market Size owing to low labor costs, excellent industrialization, emerging economic status, and an excellent hold on food, retail, beverage, and pharmaceutical & healthcare industry. All these have played a vital role in the growth of the global PET Packaging Market Size in the Asia-Pacific region.