The polyethylene terephthalate (PET) cups market has witnessed strong growth, increasing from $0.93 billion in 2023 to $0.99 billion in 2024, with a CAGR of 6.9%. This growth is attributed to the rising adoption of PET cups in quick-service restaurants and growing consumer preference for transparent packaging. By 2028, the market is projected to reach $1.31 billion, growing at a CAGR of 7.2%. Key drivers of this growth include increased demand from the food and beverage industry and the popularity of eco-friendly packaging solutions. Major trends include antimicrobial coatings and smart packaging integration.
Major Driver In The Polyethylene Terephthalate PET Cups Market
The increasing demand from the food and beverage industry is anticipated to drive growth in the polyethylene terephthalate (PET) cups market. This sector is witnessing a surge in demand for PET cups due to the rise of takeaway and food delivery services. PET cups are favored for their lightweight, shatterproof nature, and recyclability, aligning with consumer expectations and regulatory requirements. The Australian Bureau of Statistics reported a significant increase in food and non-alcoholic drink sales, rising from 14.8 million metric tons in 2020–21 to 15.1 million tons in 2021–2022. Therefore, the growing demand from the food and beverage industry is fueling the expansion of the PET cups market.
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Polyethylene Terephthalate PET Cups Market Competitive Landscape
Amcor plc, Berry Global Inc., Sonoco Products Company, Huhtamaki Oyj, Dart Container Corporation, Ningbo Yi Sheng Plastic Co. Ltd., Solo Cup Company, RPC Group Limited, Genpak LLC, Fabri-Kal Corporation, Pretium Packaging LLC, Macpac, Printpack Inc., Silgan Plastics Corporation, Anchor Packaging Inc., Placon Corporation, Alpha Packaging, NNZ Group, Airlite Plastics Company, CKF Inc., Cup Print, Temma Shiki Co. Ltd., Megafoam Containers Enterprise Sdn Bhd
Key Polyethylene Terephthalate PET Cups Market Trend
The polyethylene terephthalate (PET) cups market is evolving with the introduction of recyclable takeaway cups. In February 2024, Faerch Group launched a new range that includes 30% post-consumer recycled (PCR) content. These cups are designed to be fully recyclable, supporting sustainability efforts while meeting stringent food safety standards and offering versatility for food service needs.
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Polyethylene Terephthalate PET Cups Market Segmentation
The polyethylene terephthalate (PET) cups market covered in this report is segmented –
1) By Product Type: Clear PET Cup, Opaque PET Cup, Printed PET Cup
2) By Packaging: Rigid Packaging, Flexible Packaging
3) By Distribution Channel: Hypermarket, Supermarket, Departmental Stores, E-commerce, Direct Sales
4) By End Use: Food Services, Beverages, Restaurants, Other End Users
By Geography:The regions covered in the polyethylene terephthalate (PET) cups market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the polyethylene terephthalate (PET) cups market in 2023.
The Polyethylene Terephthalate PET Cups Global Market Report 2024 furnishes information about the global polyethylene terephthalate pet cups market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
