Market Trends of GCC Rigid Packaging Industry
This section covers the major market trends shaping the GCC Rigid Packaging Market according to our research experts:
PET to Hold Major Share
In GCC region, the Polyethylene terephthalate (PET) segment of the market studied is estimated to expand at the highest rate, due to the high demand for PET resins in the manufacturing of bottles for soft drinks and other beverages. The demand for rigid packaging from the food and beverage industry is expected to be constant, which is also driving the demand for PET in the region.
Saudi Arabia currently recycles about 10% of its PET (polyethylene terephthalate) bottles. The recycling percentage is expected to grow with increasing focus of the government toward recycling, which, in turn, is likely to drive the demand of PET in the country.
In 2017, the Gulf Cooperation Council (GCC) has drafted technical regulations intended for food packages, food supplements, and food. This is further estimated to increase the demand for PET in the packaging industry.
