Global PET Jars Market - 2021-2028

Global PET Jars Market - 2021-2028

Global PET Jars Market Overview
• The global PET jars market size was worth US$ XX billion in 2020 and is expected to report significant growth by reaching up to US$ XX billion by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).
• PET is a form of polyester that is also known as polyethylene terephthalate. It is ejected or moulded into plastic bottles and boxes for the packaging of food and beverages, personal care products, and a variety of other consumer goods. PET is an ethylene glycol polymer that is corrosive to terephthalic acid. Warm PET pitch pellets create a fluid that can be easily ejected into any shape and offer a wide shape range. Furthermore, PET has packaging characteristics that make it superior to other packaging methods. High transparency, a sparkling surface, outstanding stability, high-pressure resistance, good barrier qualities, and lightweight are all advantages of PET packing.
• PET jars have a unique appearance and a sophisticated image due to their higher transparency and shining surface. New labeling solutions, like as double-sided printed labels, can improve the jar’s aesthetic appeal. Furthermore, the adaptable manufacturing method allows for a practically limitless range of design options. The machine and mould technologies, in particular, provide a universal design with low mould costs. PET containers are also nearly unbreakable due to their superior material properties.
• PET Jars Dynamics
• Rising global packaging demand is creating opportunities for PET jars in recent times. PET jars offer a wide range of features, thereby creating demand in various end-users in recent times.
• Rising rigid packaging demand is creating opportunities for PET jars in recent times
• The rigid packaging segment occupied the largest share of the market due to its extensive use in bottles, jars, containers, trays, and clamp shells. Due to the continued significant growth of plastic bottles during the projected period, rigid PET packaging is expected to continue to dominate the market. Over the forecast period, the trend toward sustainability, which includes recycling and the usage of biodegradable versions of PET, is predicted to grow. Because of the nature of its production, it will always variously confront sustainability concerns. On the other hand, recycling streams and their development will help mitigate such sustainability challenges.
• In January 2017, Unilever declared its commitment to making all of its plastic packaging entirely reusable, recyclable, or compostable by 2025, extending this trend. Unilever has already committed to decreasing the weight of its packaging by a third by 2020. The company has also increased recycled plastic content in its packaging to at least 25% by 2025 by this decade.
• PET jars offer a wide range of features, thereby creating demand in various end-users in the recent times
• PET has packaging characteristics that make it superior to other packaging methods. High transparency, a gleaming surface, outstanding stability, high-pressure resistance, good barrier qualities, and lightweight are all advantages of PET packing.
• PET jars have a unique appearance and a sophisticated image due to their higher transparency and gleaming surface. Furthermore, the adaptable manufacturing method allows for a practically limitless range of design options. The machine and mould technologies, in particular, provide a universal design with low mould costs. PET jars are also nearly unbreakable due to their superior material properties. And the absence of fractures during filling, transportation, and use. Even with the damage, no injuries can be caused by splinter parts. PET provides the best possible protection for all consumers. PET packaging has several advantages over alternative packaging materials because of these characteristics, which is expected to clear a huge market share in the forecast period
• Easy recyclability favorable sustainability profile compared to other materials creates immense opportunities for the PET jar market in recent times.
• PET is one of the most energy-efficient packaging materials available. PET has a great sustainability profile because of its strength, adaptability, and recyclability. PET has a much lower environmental effect than glass, metal, and other container materials, despite its petroleum-based feedstock. PET's high capacity-to-weight ratio contributes to energy efficiency by allowing more goods to be packed into less space, resulting in less weight and fuel consumption during transportation. Continuous technological advancements continue to reduce the weight of PET containers while increasing their energy efficiency leading to create tremendous market opportunities for the product to proliferate in the forecast period
• COVID-19 Impact Analysis
• The global PET jars have shown a slight decline due to the COVID-19 pandemic, as several manufacturing units were shut down for months. Further several countries have restricted production activities during the covid-19 pandemic. The major lockdown impact was seen due to the COVID-19 outbreak, leads to suddenly dropping down consumers' interest in purchasing any goods. In addition, a halt in transportation sectors has severely hampered the PET jars market's business due to disruption in the product's supply chain management.
• The major chunk of businesses was put on hold, and operations across several application areas of PET jars, such as in food and beverages industries, are also compromised, thus dropping the product's global demand in 2020.
• PET Jars Market Segment Analysis
• The global PET Jars market is bifurcated based on packaging, capacity, distribution channel, technology, end-users and region.
• Food and beverages holds the largest market share owing to increasing demand for PET jars in different applications in the industry
• The global PET jars market is bifurcated into food & beverages, household products, personal care and cosmetics, pharmaceuticals, and others in terms of application. Out of the mentioned end-users, food and beverages hold the largest market share due to the increasing demand for PET jars in different applications in the industry. The jars are predominantly in great demand in packaging food items such as pickles, pulses, and others. Furthermore, high transparency, a gleaming surface, outstanding stability, high-pressure resistance, good barrier qualities, and lightweight are advantages of PET jars, creating market share for the product to proliferate in the end-user segment.
• PET Jars Market Geographical Analysis
• The Asia-Pacific market is increasing due to rising demand for PET jars from various growing industries such as food and beverages and personal care
• Asia-Pacific is expected to dominate the PET jars market in the forecast period. The area's market is increasing due to rising demand for PET jars from various growing industries such as food and beverages and personal care. According to the International Trade Administration, Personal care product sales in China reached US$ 50 billion in 2015 and are expected to rise at a rate of 7% to 10% annually. Such factors increase demand for PET jars as it is widely used in the packaging of mouthwash, lotions, moisturizers, and other personal care products.
• Furthermore, United Kingdom is estimated to follow a similar growth trend in the PET jars market in the forecast period. The increased usage of PET packaging is mostly due to rising consumer knowledge and preferences for environmentally friendly alternatives, boosting the market share for the product in the North American region.
• PET Jars Market Competitive Landscape
• The PET jars market is highly competitive with the presence of various global players in the market. Some of the global players contributing to the market's growth include Amcor plc, Cospack America Corp, Graham Packaging Company, Alpha Packaging, Alpack, Plastipak Holdings, Inc RESILUX NV, Plastipak Holdings, Inc. ExoPackaging, and among others.
• The key players follow several growth strategies such as product launches, acquisitions, and partnerships, adding value to the global PET jars market. Key players favor product launch as the growth strategy to build revenue for their market.
• For instance, in July 2019, Berry Global completed RPC Group PLC's acquisition for approximately USD 6.5 billion. In the packaging and non-packaging industries, RPC Group is a leading global designer and engineer of plastic products. Berry's Engineered Materials product range grew due to this acquisition, which is expected to improve the company's product line.
• Graham Packaging Company
• Overview: The Company is in Lancaster, Pennsylvania, with our flagship manufacturing facility and Graham Recycling Company in nearby York, Pennsylvania. Through efforts at plants across North America, Europe and South America, the company produces millions of plastic bottles each year. The company is offering services to different end-users such as automotive, dairy, health, food & nutrition, food and home care
• Product Portfolio: The Company has a product portfolio of PET jars includes:
• ThermaSet PET: ThermaSet PET has a longer shelf life and allows a clear view of the product inside. It also works with metal lugs, metal CT closures, can end, and plastic closures, making it a plug-and-play solution for most fill lines. ThermaSet PET can be used to package a variety of food items that are subjected to high-heat sterilizing processes as a sustainable, e-commerce-friendly solution
• Key Development
• For instance, in October 2020, Graham Packaging, a manufacturer and inventor of sustainable packaging solutions, received the Innovation in Recovery award from the Sustainable Packaging Coalition (SPC) in Charlottesville, Virginia
• Why Purchase the Report?
• Visualize the PET jars market segmentation by packaging, capacity, distribution channel, technology, end-users and highlight key commercial assets and players.
• Identify commercial opportunities in the PET jars market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of PET jars market-level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players
• The global PET jars market report would provide approximately 74 market data tables, 74 figures, and 279 pages.
• Target Audience 2022
• Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
• Manufacturers
• Logistics companies
• Distributors