PET, also known as polyethylene terephthalate, is a type of polyester. It is expelled or shaped into plastic jugs and boxes for packaging offood and refreshments, personal care items, and several other consumer products.PET is an ethylene glycol polymer and terephthalic corrosive. Pellets of PET pitch are warmed to form afluid, which can be effortlessly expelled into any shape. PET was first incorporated in the U.S. inthe mid-1940s by physicists working in DuPont,who were scanning for polymers that could be utilized to make new material filaments. PET is an exceptionalbundling material,asit is solid yet lightweight, non-receptive, sparing, and shatterproof. PET's security for sustenance, refreshment, individual care, pharmaceutical, and restorative applications has beenperceived by wellbeing experts around the globe.
The global market for PET packaging has beensegmented on the basis of form, packaging type, pack type, and end-use industry. Based on form, the market has beensegregated into amorphous PET and crystalline PET. The amorphous PET segment held a major market share in 2016 and the trend is anticipated to continue throughout the forecast period. Thesegment is also anticipated to witness rapid growth during the forecast period.Based on packaging type, the global PET packaging market has beensegregated into rigid packaging and flexible packaging.
The rigid packaging segment accounted fora leadingmarket share in 2016 and the trend is projected to continue throughout the forecast period. This segment is also anticipated to witness rapid growth during the forecast period. This is attributableto the rise in demand forPET packaging end-products such as jars andbottles, containers, and trays.Based on pack type, the global market for PET packaging has beendividedinto bottles & jars, bags & pouches, trays, lids/caps & closures, and others.The bottles & jars segment held a leadingmarket share in 2016 and is projectedto retain its dominanceduring the forecast period.Rising demand for cost-effective and sustainable packaging in end-use industries such as food, beverages, pharmaceutical, and personal care is resulting in the rise indemand for bottles andjarsworldwide.The bottles & jarssegment is also expected to witness rapid growth during the forecast period.
Based on filling technology, the global market for PET packaging has beendividedinto hot fill, cold fill, aseptic fill, and others. The cold fill technology segment held a major market share in 2016 and is estimated to continueits dominance throughout the forecast period. This is attributableto thecost-effectiveness of this technology. The hot fill technology segment is projected to witness rapid growth during the forecast period. Based on end-use industry, the global PET packaging market has beensegmentedinto food, beverages, personal care & cosmetics, household products, pharmaceutical, and others.The beveragessegment held a leading market share in 2016 and is expected to continue its dominance throughout the forecast period.The food segment is projected to witness rapid growth during the forecast period, owing to rising demand forpackaged food productsand ready-to-eat food products.
Major factorsdriving the global PET packaging market include rising demand from end-use industries. The food industry is witnessing exponential risein demand forPET packaging.The pharmaceutical industry is also witnessing increased demand, as PET bottles are considered safe for drug packaging. In addition, shifting trend toward eco-friendly materials is positively affecting the global market for PET packaging. However, high fluctuations in raw material prices is a major restraint for the global market for PET packaging. Countries in Asia Pacific and Middle East &Africa are likely to offer growth opportunities to the global PET packaging market.
Major players operating in the global PET packaging market include E. I. Du Pont De Nemours and Company (the U.S.), Amcor Limited (Switzerland), Rexam PLC (the U.K.), Graham Packaging Company (the U.S.), Dunmore Corporation (the U.S.), and Smurfit Kappa Group PLC (Ireland).
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.