Marketing Strategy for Polyethylene Terephthalate (PET)

The global polyethylene terephthalate (PET) market is projected to grow from USD 47.7 billion in 2024 to USD 72.1 billion by 2031, driven by a 6.1% CAGR. Key growth factors include rising demand for recycled PET across packaging, food and beverage, and automotive industries. The recycled PET segment is anticipated to grow at a 7.1% CAGR, driven by increasing sustainability efforts and stringent recycling regulations worldwide. The rigid packaging sector, particularly in the food and beverage industry, will dominate the market, with PET's durability and lightweight nature making it a preferred material. Additionally, innovations in chemical recycling and the rise of bio-based PET are shaping the future of the market. North America and South Asia & Oceania are expected to lead in growth, with increased consumer demand for eco-friendly products further fueling market expansion.