PET Packaging Market Size, Share, COVID-19 Impact, New Technological Advancements And Geographical Forecast Till 2029 The global PET packaging market size was valued at USD 37.85 billion in 2021. The market is projected to grow from USD 39.23 billion in 2022 to USD 55.46 billion by 2029, exhibiting a CAGR of 5.1% during the forecast period. This information is provided by Fortune Business Insights, in its report titled, “PET Packaging Market, 2022-2029.” COVID-19 Impact Increasing Demand for Online Shopping Fueled the PET Packaging Market Growth The pandemic has forced restaurants and other food services to remain close during COVID-19, and grocery demand varied drastically. The demand for packaging will therefore rise as customers continue to migrate to supermarket shopping. This trend is fueled by consumer desire to stock up on groceries, drinks, and home care items. However, when stores close and customers start to cut back on their spending, demand for luxury packaging other than food fell. As a result, the pandemic's effects on the packaging sector have been uneven. Demand for PET Flexible Packaging as a Sustainable Solution to Gain Momentum Based on product type, the market is segmented into bottles & jars, caps & closures, trays & clamshells, bags & pouches, films & wraps, sachets & stick packs, and cans & containers. In terms of market share, the films & wraps segment holds a dominant share of the global market due to the rising usage of flexible packaging in online delivery. Demand for PET Containers in the Food & Beverage Industry to Gain Momentum Food & beverages segment is the dominant segment of the market. Prepared meals mainly lead the food & beverage packaging market due to easy portability, long shelf life, and easy preparation. Prepared food consists of frozen meals, snacks, drinks, and more. Report Coverage The report presents a holistic study of the market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions or driving factors is also mentioned in the report. Step by step, thorough regional analysis is offered. The COVID-19 impacts have been added to the report to help investors and business owners understand the threats better. The top players in the market are identified, and their strategies to bolster the market growth are shared in the report. Browse Detailed Summary of Research Report with TOC: https://www.fortunebusinessinsights.com/pet-packaging-market-104899