GCC PET Packaging Market Overview:
The GCC PET packaging market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. Polyethylene terephthalate (PET) is a clear, strong, lightweight plastic widely used in the packaging industry. It has high strength and rigidity and is resistant to extreme pressure and shattering. It also demonstrates low sliding friction and moisture absorption, and good chemical resistance against acids. It is widely employed in rigid and flexible packaging due to its high dimensional stability and resistance to solvents, alcohols, dilute alkalis and halogenated hydrocarbons. Besides this, it is used in manufacturing plastic bottles and jars, bags and pouches, trays, lids, and closures. At present, it finds extensive applications in packaging pharmaceutical and personal care products in the GCC region.
The growing working population and hectic and fast-paced schedules of individuals in the GCC region are catalyzing the demand for ready-to-eat (RTE) and processed food products, which represent one of the key factors positively influencing the market. This, in confluence with the exponential rise in the food and beverage (F&B) industry, along with the emerging trend of online food ordering, is increasing the sales of packed edibles in the GCC region. In line with this, a significant surge in the adoption of PET bottles in the packaging of water, soft drinks, and other consumable liquids on account of their non-toxic, non-carcinogenic, and biocompatible properties is bolstering the market growth. Moreover, rising awareness about the benefits of using environment-friendly packaging solutions is encouraging key manufacturers to employ recyclable PET packaging materials. Furthermore, the manufacturing process of PET does not incorporate the use of any heavy metals and harmful chemicals such as bisphenol A (BPA) and Di(2-ethylehexyl) phthalate (DHEP), which is creating a positive market outlook. Besides this, the flexible and cost-effective nature of PET is catalyzing its demand over glass and metal counterparts. Furthermore, the increasing utilization of PET in the cosmetic industry for the packaging of personal care products due to the need for asymmetrical packaging with sharp angles and high customization of logos is driving the market.
Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC PET packaging market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC PET packaging market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC PET packaging market in detail for latest trends, outlook and opportunities.
The report analyses the competitive structure of the GCC PET packaging market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC PET packaging market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC PET packaging market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC PET packaging market industry. Furthermore, the value chain analysis of the GCC PET packaging market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution.
GCC PET Packaging Market Segment Insights:
The GCC PET packaging market has been analysed as followed:
By Packaging Type:
By Pack Type:
By Filling Technology:
By End User:
Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Highlights of the GCC PET Packaging Market Report:
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