Market Size of North America Plastic Bottles Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.10 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Plastic Bottles Market Analysis
The North America plastic bottles market was valued at USD 26.70 billion in 2020 and is expected to reach USD 41.56 billion by 2026, registering a CAGR of 6.1% during the forecast period (2021 - 2026). Strong demand for sustainable and convenient packaging solutions among consumers will drive the demand for plastic bottles in North America. According to the Association for Packaging and Processing Technologies (PMMI) 2018 Beverage Report, the North American beverage industry is expected to register a growth of 4.5% during the period 2018-2028.
- The preference for bottled drinks is increasing rapidly, compared to canned beverages, owing to its cost-effectiveness. Additionally, the consumers in the North American region are quickly shifting toward healthy alternatives to beverages, primarily bottled water.
- Energy drink space in the region is booming. This is due to the increasing trend of athleticism, rising concern for health, and shift in dietary patterns due to changing lifestyles. The innovation of new flavors with health benefits is a major driving factor.
- With the U.S. plastic recycling rate showing no significant growth, the concerns relating to the use of plastic are growing. It has been estimated by Athe ssociation of Plastic Recyclers (APR) and the American Chemistry Council (ACC) that othe verall recycling rate for plastic bottles was 28.9 % compared with 29.3 % in 2017. This is expected to have a negative impact on market growth in the region over the forecast period.
- The spread of covid 19 has not majorly negatively affected the plastic bottle industry in North America. This is because it supports the vital food, beverage ,and pharmaceutical industry, which comes under essential services and won't be discontinued tuntilthe pandemic is over.
