According to the latest report by IMARC Group, titled "Europe PET Packaging Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the Europe PET packaging market size reached US$ 9.0 Billion in 2022. PET packaging refers to packaging materials and containers generally created from a type of plastic called polyethylene terephthalate (PET). PET is a lightweight, transparent, and durable material that is widely used for various packaging applications, which is commonly found in the form of bottles, jars, trays, and films. It is lightweight when compared to other packaging materials, such as glass or metal, which reduces the overall weight of the packaged product. Additionally, PET packaging can be molded into various shapes and sizes, allowing for customization and creative design options. Also, it is strong and resistant to breakage, making it suitable for products that require protection during handling and transportation. It is characterized by excellent barrier properties while providing protection against moisture, oxygen, and other external factors that may affect the product's quality and shelf life.
Europe PET Packaging Market Trends:
The market in Europe is primarily driven by the rising preference for convenience among the masses. This can be attributed to the busy schedules led by individuals, along with and changing dietary habits of the masses. Additionally, with the growing concerns about environmental sustainability, there is a rising demand for eco-friendly packaging solutions. This factor is creating a positive market outlook for PET packaging as it helps in reducing the dependency on virgin materials, conserving resources, and lowering carbon emissions. Moreover, continual advancements in PET packaging technology have led to the development of innovative solutions, such as lightweight bottles with improved barrier properties, oxygen scavengers, and active packaging features. These technological advancements have expanded the applications of PET packaging and increased its attractiveness to various industries, thereby influencing the market positively. Other factors, including rapid urbanization and industrialization and the expanding e-commerce and online retail stores, are impacting the market across Europe. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 13.4 Billion by 2028, exhibiting a CAGR of 6.79% during 2023-2028.
- On the basis of the packaging type, the market has been categorized into rigid and flexible packaging.
- Based on the form, the market has been segmented into amorphous and crystalline PET.
- On the basis of the pack type, the market has been bifurcated into bottles and jars, bags and pouches, trays, lids/caps and closures, and others.
- Based on the filling technology, the market has been segmented into hot, cold, aseptic and other fills.
- On the basis of the end user, the market has been classified into beverages industry (bottled water, carbonated soft drinks, milk and dairy products, juices, beer and others), household goods sector, food industry, pharmaceutical industry and others.
- Country wise, the market has been divided into Germany, France, the United Kingdom, Italy, Spain, and others
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
|Base Year of the Analysis
||Packaging Type, Form, Pack Type, Filling Technology, End User, Country
||Germany, France, United Kingdom, Italy, Spain, Others
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