The global metallized PET cartons market is anticipated to record a market value of US$ 185.1 million in 2023. The market is projected to register a CAGR of 4.5% during the forecast period, and is expected to reach a valuation of US$ 288.1 million by 2033 end. Sales of metallized PET cartons are expected to witness steady growth, with global revenues up by 2.0% year-over-year in 2023.
The metallized PET cartons market is a niche segment of the packaging industry. It involves the use of metalized materials in the production of cartons for food, beverages, pharmaceutical, and other related products. These cartons are designed to provide excellent barrier properties and protect the contents from moisture, light, and other environmental factors.
Metallized PET Cartons Market – Driving Factors
- The market is driven by the growing demand for high-quality food and beverage for delivery. With the busy lifestyle of consumers, the demand for ready-to-eat and ready-to-drink products is on the rise.
- MET-PET cartons are lightweight, easy to transport, and have a longer shelf life compared to other packaging materials. In addition, they can be easily recycled, which makes them eco-friendly packaging options. The market is also witnessing growth due to the rising demand for convenient and sustainable packaging solutions.
- The market is witnessing the trend of an increase in the use of metallized PET cartons for packaging personal care products.
- There is also a trend toward the use of metallized PET cartons for packaging pharmaceutical products. The protection of pharmaceutical products is important for maintaining their quality and effectiveness. In this context, metallized PET cartons are a lifesaver.
- Additional trends include the use of digital printing technology for the production of metallized PET cartons. Digital printing allows for the production of high-quality and colorful designs. This is likely to attract consumer attention and increase brand recognition.
- Therefore, the market is expected to grow at a steady pace during the forecast period owing to the consumer demand for packaged products. The ability of metallized PET cartons to protect products from environmental hazards makes them an attractive option for manufacturers and consumers alike.
How is the Metallized PET Cartons Market Set to Fare in the United States?
According to FMI research, the United States market held a market share of 7% in 2022 in the North American region. The country is projected to grow significantly owing to the growth of several industries, such as healthcare, food & beverage, personal care, and many others. Manufacturers put a lot of effort into the packaging to ensure safety and to create an attractive appearance.
According to the Organization for Economic Co-operation and Development (OECD), the United States was globally the country with the maximum per capita healthcare spending totaling US$ 10,966 in the year 2019.
The United States being one of the wealthy countries, tends to spend more per person on healthcare packaging and medicines than any other country. These factors anticipate healthy growth in the demand for metallized PET cartons, especially within the pharmaceutical industry in the next few years.
The United States metallized PET cartons market is also growing owing to the increasing demand for ready-to-eat and on-the-go food products. The packaging of these products often requires high barrier properties to protect the food and extend the shelf life that metallized PET cartons provide. The beverage industry is also driving the growth of the metallized PET cartons market. Beverage companies are increasingly using metallized PET cartons for packaging their products to protect the flavor and quality of the beverage.
Why are Key Players Eyeing India’s Metallized PET Cartons Market?
Metallized PET cartons are frequently used for packaging in various industries, such as food & beverage, personal care, and household items, as it completely meets the packaging standards.
Leading industries in India have witnessed stable market growth in the recent past and have projected promising market growth in the upcoming years. Thus, the consumption of metallized PET cartons in India is expected to increase at a promising incremental CAGR of 5% during the assessment years, and is expected to surpass US$ 28.1 million by 2033.
India metallized PET cartons market is expected to grow significantly during the forecast period. This is due to the increasing demand for packaging materials in various industries. India’s food and beverages industry is one of the prominent drivers of the market.
Growing demand for packaged and convenience food products has led to a significant increase in demand for metallized PET cartons. The pharmaceutical industry is also contributing to the market growth, since in India there is an increasing demand for over-the-counter medicines.
The government of India is also promoting the use of eco-friendly packaging materials and the use of recycled materials in packaging. This is also expected to boost demand for metallized PET cartons in the country.
How is the Evolving Manufacturing Industry Aiding Sales in China?
China has seen a vast transformation in recent decades due to economic growth, specifically in the manufacturing sector. China’s market is estimated to have a CAGR of 8.38% in 2021 and is expected to surpass US$ 24.2 million by 2033.
According to the World Bank national accounts data, China had a manufacturing output of 3,853.8 billion in 2020, which was estimated as a 0.79% increase from 2019. The manufacturing industry is characterized by the maximum use of the packaging, as it accounts for 26% of the overall GDP of China.
The low cost of production in these regions has pushed manufacturers from leading countries across the globe to expand their manufacturing facilities to China, which is projected to facilitate growth in trade volume in these regions.
The aforementioned factors are likely to offer lucrative opportunities to metallized PET carton manufacturers to strengthen their manufacturing footprints and market position in East Asia countries.