Sales of Metallized PET to Grow by 2x as Demand Grows in Pharmaceutical and Food & Beverage Sector: FMI
As per Future Market Insights, the global metallized PET cartons market is expected to surpass US$ 276.8 Mn through 2031. Driven by the increasing application in pharmaceutical industry and packaging sector, sales are set to grow at 4.7% CAGR, reaching a shipment of 146,042 tons in 2031.
Metallized Pet Cartons Market
A recent market report published by Future Market Insights on the metallized PET cartons m...
Metallized PET is replacing aluminium coating on cartons as it is characterized by higher tensile strength. The metalized PET carton also holds flexible rigidity unlike cartons made of aluminium coating the packaging doesn’t wrinkle because of the composite material that is produced by the vaporization of the metal. This would give the packaging a more presentable look.
The extremely fine metal coating of the metallized PET cartons changes the electrical conductivity opening up possibilities for it to be used as food packaging. This property of absorbing energy and exhibiting heat makes food item such as frozen foods, curry, noodles and many others ready to be heated in an oven as they contain low water content.
Sustainability has become a necessity and a crucial factor for leading players in packaging industry. Manufacturers are focusing on high quality barrier packaging which is expected to spur the sales of metallized PET cartons.
Key Takeaways from Metallized PET Cartons Market
- The demand for polyethylene terephthalate (PET) in the packaging industry has increased exponentially in past few years. This segment is expected to create incremental opportunity of US$ 53.2 Mn over the next decade.
- Metallized PET cartons that are printed is gaining significant traction among end users. This segment is forecasted to increase by 394 bps of current market share and reach up to 63.5% in 2031.
- Increasing pharmaceutical packaging have increased the demand in the packaging industry. This segment is forecasted to expand 1.7 times the current market shares during the forecasted period.
- Across the globe, consumption of Metallized PET Cartons is expected to remain high in the Asia Pacific countries and the European countries, due to the presence of key players of the market and also the availability of technological advancement owing to innovative packaging.
Impact of COVID-19 on Metallized PET Cartons Market
The decline in the manufacturing sector, foodservice demand, disruptions in the supply chain, higher input costs, created an obstacle for the businesses to generate income through profits. Although the reopening of business will increase labour productivity and usage of more products which in turn anticipates a steady growth of metallized PET cartons in the forecasted period.
Metallized PET Cartons Market Landscape
As per Future Market Insights, Faller Packaging, P.R. Packaging, Carton Services, American Carton Company and among others are the prominent players in the global metallized PET cartons market. The tier 3 players in the market hold 70-80% in the global metallized PET cartons market. In conclusion, key players contribute almost 20-30% of the global demand.
Metallized PET Cartons Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global metallized PET cartons market, analyzing historical demand from 2016-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the metallized PET cartons market on the basis of material type (polyethylene terephthalate (PET), aluminum, and paperboard), finishing (printed & non-printed), and end use (food & beverage (milk, yoghurt & buttermilk, fruit juice, carbonated soft drinks, alcoholic beverages and others),pharmaceutical, personal care & cosmetics, and others) across seven regions of the globe.
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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