PET Packaging Market

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PET Packaging Market Forecast To 2023
Global PET Packaging Market Information by Type (Rigid and Flexible) Product (Bottles & jars, Bags &
pouches, Lids/caps & closures, Trays, and others), Application (Food & Beverage, Pharmaceuticals, Consumer
goods, Personal care, and others) and region - Forecast to 2023
The key drivers of PET packaging are increasing foreign investment and rapid industrialization in the emerging nations. The
global plastics industry is observing a continuous shift of production. Asia has become the largest and the fastest growing
market for plastics in the world. The packaging industry is highly application driven. Industries such as pharmaceuticals,
food & beverages, consumer goods among other utilize PET packaging in a big way. However, Food and beverages is the
dominant industry due to increasing demand for packaged food items from all across the globe. The demand from the
healthcare industry is also expected to drive the global PET packaging market to a large extent, after food & beverages
Plastic leads the market by material. It is the most preferred material when it comes to packaging due to its properties such
as durability, firmness, and light-weight. On the basis of region, Asia Pacific region accounts for the fastest growing market,
followed by North America and Europe. The region has seen an increased consumption of PET packaging from all major
industries. The global PET packaging market size was valued at around USD 53 billion in 2015 and is expected to cross USD
75.4 Billion at CAGR of approximately 5.6% by 2023.
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