SEATTLE (Recycling Monster): According to a recent study by Maximize Market Research Pvt. Ltd., the global market for recycled PET (rPET) bottles is expected to reach $5.29 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.99% over that time.

Rising consumer demand for environmentally friendly packaging, countries' growing acceptance of the circular economy, and improvements in recycling technology are expected to be the primary drivers of the market's anticipated expansion.

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Due to higher investments in recycling infrastructure, the market for recovered PET has grown faster in recent years. Furthermore, consumer brands are compelled to increase the amount of rPET in their packaging. Increased cooperation between corporations, governments, and environmental groups has also contributed to the market's expansion.

The research report claims that the rPET bottle industry in the United States is growing quickly. Businesses like CarbonLITE Industries LLC have been making significant investments in rPET recycling facility expansions in order to fulfill the rising demand. In other regions, such as Europe, Singapore, South Korea, Japan, Thailand, and Vietnam, the market is expanding rapidly.