According to Fortune Business Insights, The global PET packaging market was valued at USD 41.03 billion in 2023 and is expected to expand from USD 42.34 billion in 2024 to USD 66.28 billion by 2032, reflecting a CAGR of 5.76% over the forecast period. Europe led the market in 2023, accounting for 30.32% of the global share. In addition, the U.S. PET packaging market is anticipated to witness notable growth, projected to reach USD 12.18 billion by 2032, primarily fueled by the increasing adoption of PET containers in the food and beverage sector.
Compared to alternative materials, Polyethylene Terephthalate (PET) offers superior flexibility and toughness, making it highly suitable for lightweight packaging solutions. This not only reduces raw material consumption but also conserves natural resources. In essence, PET’s outstanding strength-to-weight ratio plays a vital role in enhancing energy efficiency and supporting efforts toward climate change mitigation.