Pet Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Pet Packaging Market Trends & Manufacturers and the market is Segmented by Product Type (Bottles and Jars, Bags and Pouches, Trays, Lids/Caps and Closures, and Other Product Types), Packaging (Rigid and Flexible), End-user Industry (Food and Beverage, Pharmaceutical, Personal Care and Cosmetic Industries, Industrial Goods, Household Products, and Other End-user Industries) and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market size and forecasts are provided in terms of value (USD billion) for all the above segments.

Pet Packaging Market Size

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PET Packaging Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 71.23 Billion
Market Size (2029) USD 94.02 Billion
CAGR (2024 - 2029) 5.71 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

PET Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Pet Packaging Market Analysis

The PET Packaging Market size is estimated at USD 71.23 billion in 2024, and is expected to reach USD 94.02 billion by 2029, growing at a CAGR of 5.71% during the forecast period (2024-2029).

The increasing demand for environment-friendly packaging and the outstanding properties of PET are expected to drive market growth over the forecast period.

  • The packaging sector keeps making significant strides in environment-friendly technologies to satisfy customer demand for a more sustainable society. Customers increasingly know that high-performance packaging may lengthen a product's shelf life. It has increased the need for environment-friendly end-of-life packaging options, particularly PET (polyethylene terephthalate) packaging solutions.
  • PET can result in weight reductions of up to 90% compared to glass, making shipping more affordable. As they provide reusable packaging for beverages like mineral water, PET plastic bottles have increasingly replaced bulky, brittle glass bottles in recent years.
  • Several advancements and trends in how companies and products use PET indicate the attention on PET and the market's growth. PET has many uses and is easily blown into bottles or shaped into sheets thanks to its clarity and built-in CO2 barriers. PET characteristics can be enhanced with colorants, UV blockers, oxygen barriers/scavengers, and other additives to create bottles that meet a brand's requirements.
  • Additionally, PET containers are often used for packaging goods, including tennis balls, juice, salad dressing, cooking oil, peanut butter, liquid hand soap, and soda. PET is primarily used to make single-serving and two-liter bottles of carbonated soft drinks and water distributed throughout the nation, including the United States. Containers for take-home prepared meals that may be warmed in the oven or microwave are made of exceptional grades of PET.
  • Most water and soft drink containers are constructed of highly recyclable polyethylene terephthalate (PET). However, attempts to collect and recycle the bottles to prevent them from damaging the oceans are falling behind as their use increases globally. For instance, if a PET bottle had 40%-60% recycled content, its emissions would be decreased by 32%-48% compared to one made from virgin material, according to a study examining the effects of single-use and reusable bottles for carbonated soft drinks.
  • The COVID-19 pandemic provided significant relief to single-use packaging vendors. Although many countries were slowly banning these packaging and promoting reusable packaging, the outbreak changed consumer and government behavior. Due to the COVID-19 pandemic, the demand for nutritional drinks and healthy food increased exponentially. Most of these products are packaged with single-use plastic, such as PET.

Pet Packaging Market Trends

This section covers the major market trends shaping the PET Packaging Market according to our research experts:

Bottles to Have Significant Growth

  • The high barrier qualities of polyethylene terephthalate (PET) against water vapor, gases, diluted acids, oils, and alcohols make it a common material for food packing. Additionally, PET is easy to recycle, reasonably flexible, and shatterproof. According to Earth Day organizers, one million plastic bottles are purchased in the United States every minute. The average American drinks in 167 plastic water bottles annually. Due to the region's growing need for packaged drinking water, there is an increasing market for PET plastic tops and enclosures.
  • PET, derived from PE, offers excellent stiffness compared to other types of plastic. Additionally, it keeps a robust protective structure and possesses extraordinary moisture resistance abilities. Plastic bottles for liquids or beverages are produced using it. PET is used to make disposable plastic containers that are also used for packaging frozen or ready-to-eat foods. PET is well-liked because it provides a sound oil barrier, which helps the material fend off chemicals that could harm it.
  • The expanding e-commerce sector also contributes substantially to the market's expansion worldwide. Numerous brands are employing PET more frequently because it is simple to carry PET bottles and jars from a logistics perspective. Additionally, because PET bottles are lightweight and don't need to be handled carefully, the cost of transportation is greatly diminished. Therefore, it is projected that the market demand will be supported over the forecast period by people's growing propensity for online shopping.
  • The demand for PET for creating bottles and jars is anticipated to increase significantly due to the rising demand for food and beverage items worldwide. Additionally, the packaging of hand sanitizers in PET bottles saw a rise in need in the healthcare sector. In addition, the demand for hand sanitizer bottles is anticipated to stay high as COVID-19's effects persist and certain countries continue to see an increase in coronavirus cases, which will fuel the expansion of PET bottles for hand sanitizer packaging.
  • Several advancements and trends in how companies and products use PET demonstrate the focus on PET and the expansion of its market share. PET has many uses and is easily blown into bottles or shaped into sheets thanks to its clarity and built-in CO2 barriers. PET characteristics can be enhanced with colorants, UV blockers, oxygen barriers/scavengers, and other additives to create bottles that meet a brand's requirements.
PET Packaging Market - Average Recycling Cost for Plastic Packaging per Kilogram, in Japanese Yen, Japan, 2016 - 2022

Asia-Pacific to Witness Significant Growth in the Market

  • China is among the largest polyethylene terephthalate (PET) markets worldwide. For the past few years, the country's growing production of engineering plastics, such as PET, has been aided by the plentiful availability of raw materials and low cost of manufacture. The demand for PET bottles in China is constantly rising. It is obvious how critical soft drinks are to PET's chances in China. It is significantly influenced by the bottled water industry and its key players, like Master Kong and Nongfu Spring, as well as the significant rise in bottled water consumption in China yearly.
  • Due to PET's benefits over the currently utilized traditional packaging polymers, the usage of PET goods in the packaging sector (PET containers, bottles, etc.) is increasing. Due to rising exports and domestic consumption, packing materials are in higher demand in China from sectors including the food and beverage industry, consumer goods, and others.
  • A variety of plastics, including polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC), and others, are produced in India. India has a massive capability for producing PET, and most of the domestic market's needs are met. However, regional differences also exist in the domestic market's consumption of PET. Due to numerous end-user businesses and a vast distribution network, the North and West of India account for most PET use.
  • The demand for single-serve and small-sized goods packaged in materials like PET and metal cans has surged in India as the country adopts an on-the-go food consumption trend. Because consumers are budget aware and look for products that provide value for money, flexible packaging materials like PET are still widely used nationwide.
  • However, consumers have started gravitating toward alternate packaging materials because they have eco-friendly qualities. Due to their eco-friendliness and high capacity for recycling, glass and aluminum have seen significant acceptance rates in the area. As a result, customers are turning away from plastic in more significant numbers.
Global PET Packaging Market - Growth Rate by Region

Pet Packaging Industry Overview

The PET packaging market is highly competitive and consists of several major players, such as Amcor Ltd, Gerresheimer AG, Berry Global Group Inc., Silgan Holdings Inc., and Resilux NV. Few big firms presently control the market in terms of market share. These market leaders with the largest market share are concentrating on growing their international consumer base. These businesses use tactical joint ventures to raise their market share and profitability.

  • January 2022: Sonoco company planned to raise the prices for CPET (crystallized polyethylene terephthalate) thermoformed plastic trays and bowls by 9%, as the company faced unprecedented inflation in critical raw materials, as well as transportation, packaging, labor, and other direct and indirect manufacturing costs.
  • January 2022: Berry and TotalEnergies announced their collaboration to reduce trash going to landfills and increase the circularity of food packaging. Berry will receive certified circular polymers from TotalEnergies owing to enhanced recycling of post-consumer plastic waste, which is usually challenging to recycle using current methods. As a result, Berry will be able to employ more recycled plastic in the packaging of its food and beverage items and its healthcare products.

Pet Packaging Market Leaders

  1. Amcor Ltd.

  2. Gerresheimer AG

  3. Berry Global Group Inc.

  4. Silgan Holdings Inc.

  5. Resilux NV

*Disclaimer: Major Players sorted in no particular order

Global PET Packaging Market Concentration
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Pet Packaging Market News

  • April 2022: Mondi launched new packaging solutions for the food industry at AnugaFoodTec in Cologne, Germany. Two-tray packaging products provide recyclable options for fresh food manufacturers, which will help to reduce food waste. High-barrier food protection will be provided by PerFORMing Monoloopand Mono Formable PP, illustrating the crucial role that packaging plays throughout the supply chain.
  • January 2022: Sonoco products company completed the acquisition of Ball Metalpack, a manufacturer of sustainable tinplate food; the collaboration will expand the sustainable packaging portfolio to include tinplate packaging.

Pet Packaging Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Outstanding Properties of PET

      2. 4.3.2 Rising Demand for Environment-friendly Packaging

    4. 4.4 Market Restraints

      1. 4.4.1 Regulations Against the Use of Plastics in Some Regions

    5. 4.5 Value Chain Analysis

    6. 4.6 Industry Attractiveness Porter's Five Forces Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Types

      1. 5.1.1 Bottles and Jars

      2. 5.1.2 Bags and Pouches

      3. 5.1.3 Trays

      4. 5.1.4 Lids/Caps and Closures

      5. 5.1.5 Other Product Types

    2. 5.2 By Packaging

      1. 5.2.1 Rigid

      2. 5.2.2 Flexible

    3. 5.3 By End-user Industry

      1. 5.3.1 Food and Beverage

      2. 5.3.2 Pharmaceuticals

      3. 5.3.3 Personal Care and Cosmetic Industry

      4. 5.3.4 Industrial Goods

      5. 5.3.5 Household Products

      6. 5.3.6 Other End-user Industries

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 South Korea

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 Latin America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of Latin America

      5. 5.4.5 Middle East and Africa

        1. 5.4.5.1 United Arab Emirates

        2. 5.4.5.2 Saudi Arabia

        3. 5.4.5.3 South Africa

        4. 5.4.5.4 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Amcor Ltd

      2. 6.1.2 Resilux NV

      3. 6.1.3 Gerresheimer AG

      4. 6.1.4 Berry Global Group Inc.

      5. 6.1.5 Silgan Holdings Inc.

      6. 6.1.6 Graham Packaging Company

      7. 6.1.7 GTX Hanex Plastic Sp. z.o.o.

      8. 6.1.8 Dunmore Corporation

      9. 6.1.9 Comar LLC

      10. 6.1.10 Sonoco Products Company

      11. 6.1.11 Huhtamaki OYJ

      12. 6.1.12 Nampak Limited

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Pet Packaging Industry Segmentation

PET, also known as polyethylene terephthalate, is a type of polyester. It is expelled or shaped into plastic jugs and boxes for packaging food and refreshments, personal care items, and several other consumer products. PET is an ethylene glycol polymer and terephthalic corrosive.

The pet packaging market is segmented by product type (bottles and jars, bags and pouches, trays, lids/caps and closures, and other product types), packaging (rigid and flexible), end-user industry (food and beverage, pharmaceutical, personal care and cosmetic industries, industrial goods, household products, and other end-user industries) and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa).

The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

By Product Types
Bottles and Jars
Bags and Pouches
Trays
Lids/Caps and Closures
Other Product Types
By Packaging
Rigid
Flexible
By End-user Industry
Food and Beverage
Pharmaceuticals
Personal Care and Cosmetic Industry
Industrial Goods
Household Products
Other End-user Industries
By Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East and Africa
United Arab Emirates
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Pet Packaging Market Research FAQs

The PET Packaging Market size is expected to reach USD 71.23 billion in 2024 and grow at a CAGR of 5.71% to reach USD 94.02 billion by 2029.

In 2024, the PET Packaging Market size is expected to reach USD 71.23 billion.

Amcor Ltd., Gerresheimer AG, Berry Global Group Inc., Silgan Holdings Inc. and Resilux NV are the major companies operating in the PET Packaging Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in PET Packaging Market.

In 2023, the PET Packaging Market size was estimated at USD 67.38 billion. The report covers the PET Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the PET Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Pet Packaging Industry Report

Statistics for the 2024 Pet Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Pet Packaging analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Pet Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)