North America PET Bottles Market Outlook
According to a new report by Expert Market Research titled, “North America PET bottles Market Size, Share, Analysis, Report and Forecast 2023-2028″, the North America PET bottles market is projected to grow at a CAGR of 4.3% between 2023 and 2028. Aided by the rising demand for convenient and sustainable packaging solutions and the increasing applications of PET bottles in diverse industries, the market is expected to grow significantly by 2028.
PET (Polyethylene Terephthalate) is a type of plastic that is primarily used in the production of packaging materials, especially bottles. PET bottles are widely appreciated for their excellent properties such as lightness, resistance to water, durability, and ability to maintain the freshness of products, making them a popular packaging choice across various industries, including beverages, food, pharmaceuticals, personal care, and household products.
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The burgeoning consumer preference for convenience and sustainable packaging is driving the North America PET bottles market growth. PET bottles offer great convenience in terms of portability, storage, and use, leading to their widespread adoption among consumers. Furthermore, they are fully recyclable, supporting the ongoing sustainability efforts and reducing the environmental impact of packaging, which significantly contributes to their increasing demand.
Moreover, the escalating health consciousness among consumers is leading to a surge in the demand for bottled water and healthy beverages, thereby stimulating the North America PET bottles market expansion. PET bottles, with their ability to maintain the integrity and freshness of beverages, are widely used for packaging these products, further driving the market expansion.
The versatile applications of PET bottles across various industries also play a significant role in propelling the North America PET bottles market development. In the beverage industry, PET bottles are extensively used for packaging carbonated drinks, juices, water, and alcoholic drinks due to their excellent barrier properties. The pharmaceutical industry utilises PET bottles for the packaging of medicines and health supplements owing to their superior chemical resistance. The personal care and cosmetics industries use PET bottles for packaging various products such as lotions, creams, and shampoos because of their lightness and unbreakability.
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Furthermore, the development and use of biodegradable and bio-based PET bottles have opened new avenues for market growth. As companies and consumers continue to seek environmentally friendly alternatives, the demand for these innovative PET bottles is expected to rise, thereby driving the North America PET bottles market growth.
North America PET Bottles Market Segmentation
The market can be divided based on technology, application, and country.
Market Breakup by Technology
- Stretch Blow Moulding
- Injection Moulding
- Extrusion Blow Moulding
- Thermoforming
- Others
Market Breakup by Application
- Beverages
- Packaged Water
- Carbonated Soft Drinks
- Fruit Juice
- Alcoholic Beverages
- Food
- Personal Care
- Household Care
- Pharmaceuticals
- Others
Market Breakup by Country
- United States
- Canada
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the North America PET bottles companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Amcor plc
- Berry Global Inc.
- Graham Packaging Company
- Loews Corporation
- Plastipak Holdings, Inc.
- Others
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