Post-Consumer Recycled Plastic Packaging Market Share, Regional Developments and Top Vendors Analysis 2030
Global Post-Consumer Recycled Plastic Packaging Market Set for Remarkable Growth
Tina Rajawat
Share this Post to earn Money ( Upto ₹100 per 1000 Views )
The global post-consumer recycled plastic packaging market is poised for remarkable growth, with projections indicating an increase from approximately $48 billion in 2023 to a staggering $82.49 billion by 2030. This promising growth trajectory is expected to be driven by several key factors, as highlighted in a comprehensive report by Fairfield Market Research.
Key Market Trends Fueling Growth:
- Sustainability and Conservation: The growing focus on the conservation of nature, reduced cost, and sustainability are key drivers propelling the post-consumer recycled plastic packaging market forward.
- Government Regulations: Stringent government regulations at local, state, and national levels, including recycling mandates, landfill diversion goals, and extended producer responsibility programs, are incentivizing recycling efforts and boosting market growth.
- Bottles Dominate the Market: In 2022, the bottles category dominated the market, aligning with the increasing emphasis on sustainability as a driving force.
- Polyethylene Terephthalate Dominance: Polyethylene terephthalate is anticipated to dominate the global post-consumer recycled plastic packaging market in terms of market share.
- European Leadership: Europe is expected to account for the largest share of the global market, driven by robust recycling infrastructure and a consumer base inclined toward eco-friendly choices.
- Asia Pacific Growth: The Asia Pacific region is witnessing significant market expansion due to rising awareness of environmental issues and a shift towards eco-friendly consumer choices.
Market Growth Determinants:
- Environmental Impact: Growing demand for post-consumer recycled plastic packaging materials is driven by their positive environmental impact, which includes reduced greenhouse gas emissions, energy consumption, and reliance on fossil fuels.
- Supportive Government Regulations: Governments worldwide are implementing regulations mandating the use of post-consumer recycled plastic content in packaging, fostering innovation and market growth.
Major Growth Barriers:
- High Processing Costs: The cost of collecting, sorting, cleaning, and processing post-consumer plastics into high-quality recycled materials can be substantial, posing a challenge for market growth.
- Recyclable Contamination: Contamination of recyclables with non-recyclable materials complicates processing and reduces the market acceptance and value of recycled plastic materials.
Key Trends and Opportunities:
- Beverage Industry's Expansion: The growing beverage industry presents a significant opportunity for post-consumer recycled plastic packaging as beverage companies seek sustainable packaging solutions to meet consumer expectations and environmental goals.
- Economic Incentives: Businesses are recognizing the financial benefits of adopting sustainable practices, with potential cost savings and revenue streams driving the adoption of recycled materials.
Regulatory Scenario:
-
The global regulatory landscape emphasizes sustainability and waste management, with a focus on sustainable packaging, particularly plastic packaging.
-
Financial penalties, incentives, and taxes are key regulatory mechanisms driving sustainability changes in packaging practices.
Top Market Segments:
- Bottles: Plastic bottles have emerged as the dominant source of post-consumer recycled plastic packaging due to their widespread use and efficient recycling.
- Polyethylene Terephthalate: This material type dominates the market, owing to its versatile properties and applications across various sectors.
Regional Market Leadership:
- Europe: Europe leads the market with a 53% revenue share, driven by stringent environmental regulations, robust recycling infrastructure, and consumer preference for sustainable products.
- Asia Pacific: Rapidly growing in the market, Asia Pacific benefits from a growing middle-class consumer base, increased demand for packaged goods, and improving recycling infrastructure.
Leaders in the Industry
The global post-consumer recycled plastic packaging market features a concentrated landscape with a select group of major players dominating the industry on a global scale. These industry leaders, including Berry Global Inc., Amcor plc, KW Plastics, ePac Holdings LLC, and others, are actively introducing innovative products and expanding distribution channels to strengthen their international presence.
Global Post-Consumer Recycled Plastic Packaging Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Type Coverage, By Material Type Coverage, By End-use Industry Coverage, By Geographic Coverage and Leading Companies):
https://www.fairfieldmarketresearch.com/report/post-consumer-recycled-plastic-packaging-market
Our Related Report:
Post-Consumer Recycled Plastic Packaging Market
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
