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The PET packaging market size has the potential to grow by USD 12.13 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by end-user (beverages, household goods, food, and pharmaceutical) and geography (APAC, Europe, MEA, North America, and South America).
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The PET packaging market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:
The PET packaging market is fragmented with the presence of several regional and international players, which compete on parameters such as product launches, strategic acquisitions, and the expansion of production capabilities. This PET packaging market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies.
Market drivers such as the increasing adoption of PET packaging bottles in the alcoholic beverage industry will create immense growth opportunities for vendors. However, challenges such as the growing demand for substitute packaging products may impede the growth of the market participants.
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Beverages account for the largest PET packaging market share in the end-user segment. The beverage industry has been the dominant end-user of the global PET packaging market. This is because the most commercially available beverages are sold in PET bottles. This segment will continue to hold the highest market share during the forecast period.
An in-depth scenario-based approach was followed in this PET packaging market research report to identify the direct and indirect impact of COVID-19 on market growth. Buy the full market research report to gain actionable insights on the influence of COVID-19 on PET packaging market segments.
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APAC was the largest PET packaging market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Increasing demand for processed and packaged food and beverages and rapid growth in the retail e-commerce industry will significantly drive PET packaging market growth in this region over the forecast period.
44% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for PET packaging in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Consumers increasingly prefer PET bottles because of their convenience and aesthetic appearance. This is encouraging end-users, including alcoholic beverage manufacturers to adopt PET packaging. In addition to their aesthetic appearance, PET packaging also helps in reducing carbon emissions and transportation costs in the supply chain as they weigh less when compared to glass and metal containers. This is prompting alcoholic beverage manufacturers to adopt PET packaging, driving PET packaging market growth.
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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