The North American market for plastic rigid food packaging will surpass 6.2 mln tons in 2008, as per a report by BCC Research. The market is forecast to increase to over 17.2 billion pounds in 2013, at a compounded annual growth rate of 4.7%.
Of the major materials, viz PET, HDPE, polystyrene, polypropylene, LDPE, polycarbonate, SBCs, PVC, PET is the dominant resin in the market, reaching over 7 billion pounds in 2007. With an annual average growth rate of 4.8%, PET is expected to increase to 7.5 billion pounds by the end of 2008, and to 9.5 billion pounds in 2013.
The second largest growth material is HDPE. HDPE has the second largest share of the food packaging market, and reached 2.5 billion pounds in 2007. A rise to 2.6 billion pounds is expected by the end of 2008, and to 3.2 million pounds in 2013, a 4.1% annual rate of increase. Polystyrene is expected to increase from an estimated 2 billion pounds in 2008 to 2.4 billion pounds in 2013, also rising at a 4.1% annual growth rate. Polypropylene is forecast to experience annual growth of 6.6%, with the market rising from 1 billion pounds in 2007 to a projected 1.1 billion in 2008 and 1.6 billion pounds in 2013.