The latest report by IMARC Group, titled “North America PET Bottle Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the North America PET bottle market size reached 3.5 Million Tons in 2022. Polyethylene terephthalate (PET) is a thermoplastic polymer resin of the polyester family that is used to produce plastic bottles. They are produced by the polymerization of purified terephthalic acid (PTA) and ethylene glycol (EG) in the presence of a catalyst. They are generally made up of plastic resins, such as PET, polypropylene (PP), low-density polyethylene (LDPE), and highly-density polyethylene (HDPE). They are durable, cost-effective, sustainable, transparent, lightweight, non-reactive, eco-friendly, and thermally stable. Owing to these benefits, PET bottles are widely used in the packaging of medicines, household cleaners, drinking water and beverages, mouthwashes, and dish detergents across the globe.
North America PET Bottle Market Trends:
The market is primarily driven by the rising demand for bottled drinks due to their convenience. In addition, the growing inclination toward healthy beverages and on-the-go beverage options due to hectic lifestyles is contributing to the market growth. Moreover, various technological advancements, including the introduction of plasma-based coatings, resulted in the increased natural resistance of PET bottles which represents another major growth-inducing factor. Besides this, the widespread adoption of energy drinks on account of the increasing popularity of athleticism, rising health concern, and shifting dietary patterns are accelerating the product adoption rate. Along with this, the launch of new flavors with health benefits and the infusion of silver in the bottle is also helping in increasing the shelf life of the product, which is propelling the market growth. Furthermore, the growing environmental concerns among consumers, product innovations, and mergers and acquisitions (M&A) among key market players are other factors creating a favorable market outlook. Looking forward, IMARC Group expects a market volume to reach 4.0 Million Tons by 2028, exhibiting a CAGR of 2.2% during the forecast period (2023-2028).
- Based on the capacity, the market has been categorized into high, medium, and low.
- On the basis of colour, the market has been segregated into transparent, and colored.
- Based on technology type, the market has been classified into stretch blow molding, injection molding, extrusion blow molding, thermoforming, and others.
- On the basis of end use, the market has been segmented into packaged water, carbonated soft drinks (CSDs), food bottles and jars, non-food bottles and jars, fruit juice, beers, and others.
- On the geographical front, the market has been divided into the United States and Canada.
- The competitive landscape of the industry has also been examined in the report along with the detailed profiles of the key players operating in the industry.
|Base Year of the Analysis
||Capacity, Colour, Technology Type, End-Use, Country
||United States, Canada
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