PET Hinged Containers Market

PET Hinged Containers Market Overview

The global polyethylene terephthalate (PET) hinged containers market is estimated to project growth at a healthy CAGR of around 6% to 7% during the forecast period 2022-2032. Rapidly expanding food & beverage industry and increasing demand for innovative packaging solutions for packaged food products is expected to create lucrative growth opportunities in the PET hinged containers market.

PET hinged containers are a type of rigid format containers that are generally used for packaging food products. These containers provide a premium look and feel to the product, thereby allowing manufacturers to earn higher profits by rising maximum selling price of the product. These containers are more convenient in comparison to other types of packaging containers in terms of transportation, owing to their attributes of being handy and leakage resistant.

PET hinged containers are gaining huge popularity across the packaging industry, on account of their favorable characteristics such as lightweight, premium appearance, transparency, resistance to environmental factors such as dust, rain, and sunlight, high load-bearing capacity, and durability among others. On account of this, these hinged containers are increasingly being used for packaging food products such as meat, fresh produce fruits & vegetables, snacks, bakery products, and others.

Product differentiation at the point of purchase, such as retail stores, supermarkets, and others, plays a vital role in creating brand value and assisting in accelerating brand sales. The aforementioned attributes of PET hinged containers have made them an effective packaging solution for assisting brand owners to outperform their product offerings at the point of purchase. This is anticipated to facilitate the demand for PET hinged containers in the global market.

Which are Some Prominent Drivers Spearheading PET Hinged Containers Market Growth?

The packaging industry across the globe has witnessed a substantial transformation and technological advancements in the last few years from using strong and sturdy packaging solutions to using transparent and convenient containers. Growing consumerism and shifting consumer preferences towards packaged food products are expected to amplify the demand for packaging.

Packaging plays a crucial role in product differentiation, hygienic control, protection, increasing the shelf life of the product, especially in case of food products. Thus, numerous food manufacturers are inclining towards adopting packaging solutions that offer consumer convenience and optimum protection to the food products stored in it. This is accelerating the sales of PET hinged containers in the global market.

The consumption of packaged food products such as dry fruits, fresh fruits, bakery products, vegetables and meat products among others has witnessed an exponential rise across the globe in recent years. Also, growing demand for on-the-go snacks and ready-to-use products, owing to growing working population and rising fast-paced lifestyle, especially across countries such as the U.S., Germany, China, and others is fueling the demand for lightweight and reusable packaging solutions such as PET hinged containers.

What are the Challenges Faced by the PET Hinged Containers Market?

Polyethylene terephthalate is non-biodegradable plastic and pollutes the soil with harmful chemicals during its extremely slow decomposing process, thereby causing harm to the environment. Thus, governments and several regulatory organizations are implementing numerous stringent regulations to curb the use of plastics for packaging, which is in turn, restraining the growth in the market.

In addition, increasing demand for bio-degradable and eco-friendly packaging solutions made of paper and corrugates among customers, owing to rising concerns regarding environmental sustainability, is hindering the sales of PET hinged containers in the market. 

Why is North America Emerging as an Opportunistic PET Hinged Containers Market?

As per Future Market Insights, North America is forecast to emerge as the most remunerative market for PET hinged containers between 2022 and 2032.

Increasing consumption of packaged and ready-to-eat food products such as on-the-go snacks, cake mixes, pastries, desserts, and ready-to-eat convenience meals across North America has resulted in surging demand for moisture resistive and leakage proof packaging containers. Hence, leading players in the market are focusing on launching novel packaging solutions to cater to this rising demand.

For instance, in 2019, Karat Packaging Inc., an American manufacturer and distributor of packaging products announced launching a new crystal-clear and crack-resistant 12oz PET Hinged Deli Container. A slew of such new products launches is estimated to bolster the sales of PET hinged containers in the North America market.

How is Western Europe Contributing to the Growth of the PET Hinged Containers Market?

FMI reveals that Western Europe is projected to exhibit growth at a robust CAGR in the global PET hinged containers market over the forecast period 2022-2032.

With increasing customer inclination towards adopting packaged fast-food products such as sandwiches, burgers, pastries, and instant salads among others, a swift rise in demand for leakage proofs, sealed, and transport friendly packaging solutions is being witnessed across Europe.

In addition, rising environmental concerns are encouraging customers to adopt recyclable and reusable packaging solutions. As PET hinged containers meet aforementioned requirements along with offering microwave-safe and moisture-resistant features, surging trend of online food ordering is expected to bolster the demand for PET hinged containers in the Western Europe market.

Market Competition

Some of the leading players in the global PET hinged containers market are Darnel Group, Hubert Company, LLC, Dart Container Corporation, Karat Packaging Inc., Txley, Inc., Amhil Enterprises, Sanplast Ltd., Pactiv LLC, D&W Fine Pack, Teda-MM Ltd., Berry Global, Inc., Vigour Group, and others.

Prominent players in the global market are aiming at launching customized products and capacity expansion to gain edge in the highly competitive market.

Report Scope

Key Segments Profiled in the PET Hinged Containers Market Survey

By Material Type:

• Recycled Polyethylene Terephthalate (R-PET)
• Crystallized Polyethylene Terephthalate (C-PET)
• Amorphous Polyethylene Terephthalate (A-PET)

By Capacity:

• Up to 20 Oz
• 20 Oz to 30 Oz
• 30 Oz to 40 Oz
• More than 40 Oz

By End Use:

• Meat, Poultry, and Seafood
• Fruits & Vegetables
• Ready-to-eat Meals
• Bakery Products
• Snacks Food
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan (APEJ)
• Japan
• Middle East and Africa