DUBLIN--(BUSINESS WIRE)--May 16, 2018--The "Global PET Packaging Market - Segmented by Pack Type, Packaging Type, End-user Industry, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The global PET packaging market was worth USD 54.9 billion in 2017 and is projected to reach USD 69.7 billion by 2023 growing at a CAGR of 4.03% over the forecast period (2018-2023).

PET is shatter-resistant, flexible, and easy-to-recycle which is expected to propel the demand for the product. In addition, the absence of toxicity in PET products that are used for packing food products is projected to fuel the market growth. The major advantage of PET over other plastic materials used for packaging is its high rate of recyclability. PET bottles are used for packing beverages and fruit juices, whereas PET films are used in packaging solutions for pre-cooked meals and processed meat. Thus, the growth in food & beverage industry is likely to boost the PET packaging market over the forecast period.

Key Highlights

Growing Demand from End-User Industries Flexible Packaging to Exhibit the Highest Growth

Key Developments in the Market

February 2018 - Amcor launched consumer packaging through LiquiForm technology which mitigates the supply chain cost and enhancing packaging consistency. This is expected to ascend their product market share and bring revenue to the company. February 2018 - Pretium Packaging LLC launched 2-L PET containers with the integration of handles at The Packaging Conference which is likely to boost the company's financial and increase their product portfolio. January 2018 - PET Power designed square bottles offering greater width than the existing similar products in the market which is projected to lure customers and bring profit to the company.

Companies Mentioned

Amcor Limited E. I. du Pont de Nemours and Company Resilux NV Gerresheimer AG GTX Hanex Plastic Sp. z o.o. Dunmore CCL Industries Inc. Berry Plastics Group Inc. Huhtamaki Group Rexam PLC Smurfit Kappa Group PLC Pretium

Key Topics Covered

1. Introduction

2. Research Approach and Methodology

3. Executive Summary

4. Market Dynamics

5. Technology Snapshot

6. Global PET Packaging Market Segmentation

7. Competitive Intelligence - Company Profiles

8. Company Market Share

9. Opportunities in Global PET Packaging Market

For more information about this report visit https://www.researchandmarkets.com/research/qpd4bd/global_pet?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180516005831/en/

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SOURCE: Research and Markets

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PUB: 05/16/2018 09:30 AM/DISC: 05/16/2018 09:30 AM