PET PACKAGING MARKET ANALYSIS

PET Packaging Market, By Product Type (Bottles and Jars, Bags and Pouches, Trays, Lids/Caps and Closures, Other Product Types), By Packaging (Rigid, Flexible), By End-User Industry (Oil and Gas, Food and Beverage, Pharmaceuticals, Personal care and cosmetic industry, Industrial goods, Household Products, Other End-user industries), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Global PET Packaging Market- Restraints

Increasing regulations regarding the usage of plastic: Increasing regulations regarding the use of plastic in some regions are projected to hamper market growth. For instance, the EU Commission is considering a general ban on plastic packaging, which is expected to constrain market growth. In March 2020, the UK Chancellor of the Exchequer declared that the plastic packaging tax (created to encourage the use of more recycled plastic from April 2022) would be levied on packaging made of less than 30% recycled plastic. The chancellor anticipates that the law would collect EUR 200 per ton.

Global PET Packaging Market- Opportunities

Increasing merger and acquisition in the PET packaging market is projected: Increasing mergers and acquisitions in the PET packaging market are projected to provide lucrative growth opportunities for the key players in the market. For instance, in June 2022, Ara Partners ("Ara"), a private equity firm that specializes in industrial decarbonization investments, announced that it had acquired Petainer Ltd. ("Petainer" or the "Company"), a UK-based, global producer of sustainability-focused beverage packaging solutions. Petainer was acquired by Ara in partnership with Petainer management and affiliates of Next Wave Partners LLP.