Market Trends: Developing Countries Spur Growth in Packaging Market
The PET packaging market is expected to grow to $57 billion by 2017, according to a new study.
The global consumption of polyethylene terephthalate (PET) packaging will grow to almost 19.1 million tons by 2017, according to a new market study from Pira International. Driven mainly by increasing demand in emerging and transitional economies, the market will grow 5.2% per year, with a focus on Asia-Pacific, South and Central America, Central and Eastern Europe, and the Middle East and Africa. Barrier PET bottles and jars for juices, milk, teas, beer, wine, and food are forecast to register strong growth over the period 2012-17.