## PET packaging market to double
_By Editorial Staff, Resource Recycling_
The global PET market is expected to reach a total value of $48.4 billion in 2016, up from its $23.3 billion value in 2010, according to a new report.
A new [study](http://www.transparencymarketresearch.com/pet-polyethylene-terephthalate-and-pet-packaging-market.html) from Transparency Market Research concludes that while all PET market areas will continue to grow, the Asia Pacific region will maintain its leading position in revenue generation through 2016, commanding 34 percent of global PET value chain market revenue. According to the study, growth of the global carbonated soft drink market and changing lifestyles of consumers are expected to drive demand for the material during the next decade.
Carbonated soft drinks and bottled water, which accounted for 65 percent of total market revenues in 2011, will also continue to dominate the market according to the study. PET applications in alcoholic and hot beverages accounted for 17 percent of the market and are expected to grow at a rate of 9.7 percent from 2011 to 2016. The demand in food applications is expected to grow at a rate of 9.7 percent for the same time period.
[ ](http://www.plasticsrecycling.org/news/news-archives/58-press-release/172-caps-on-bottles-for-recycling)
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