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We expect the global PET packaging market to exhibit a CAGR of around 5% during 2021-2026.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous end use industries for PET packaging materials.
The expanding packaging industry along with the rising demand for processed and ready-to-eat food products represent some of the other factors driving the global PET packaging market.
Based on the packaging type, the global PET packaging market can be bifurcated into rigid packaging and flexible packaging. Currently, rigid packaging holds the majority of the market share.
Based on the form, the global PET packaging market has been segregated into amorphous PET and crystalline PET, where amorphous PET currently represents the largest segment.
Some of the major players in the global PET packaging market include Amcor, Berry, Graham Packaging Company, Dunmore Corporation, Huhtamaki, Resilux, Dupont, Silgan Holdings, GTX Hanex Plastic, Comar (Sonoco), Nampak, CCL Industries, Smurfit Kappa Group, Rexam, etc.
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