June 22, 2024

PCR Plastic Packaging Market Size To Attain USD 47.55 Billion By 2032

The global PCR plastic packaging market size was estimated to be around US$ 17.6 billion in 2022. It is projected to reach US$ 47.55 billion by 2032, indicating a CAGR of 10.5% from 2023 to 2032.

PCR Plastic Packaging Market Size 2023 To 2032

Key Takeaways

  • North America held the largest share of the market at 36% in 2022.
  • Asia Pacific is observed to witness the rapid pace of expansion during the forecast period.
  • By Material, the PET segment held the dominating share of 33% in 2022.
  • By Material, the PVC segment is expected to witness growth at a significant CAGR during the projected timeframe.
  • By Product, the bottle segment held the largest share of 42% in 2022.
  • By Product, the pouches segment is anticipated to grow at the fastest rate over the projected period.
  • By End-user, in 2022, the food and beverages segment held the largest share of 57% in the PCR plastic packaging market.
  • By End-user, the cosmetic segment is expected to witness growth at a significant CAGR during the projected timeframe.

The PCR (Post-Consumer Recycled) plastic packaging market has witnessed significant growth in recent years as sustainability has become a central focus in the packaging industry. PCR plastic packaging involves the use of recycled materials, typically obtained from post-consumer waste, to create packaging solutions for various products. This approach addresses environmental concerns by reducing the reliance on virgin plastics and minimizing the overall carbon footprint of packaging production.

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Growth Factors

One of the primary drivers contributing to the growth of the PCR plastic packaging market is the increasing awareness and demand for sustainable packaging solutions. Consumers, as well as businesses, are actively seeking eco-friendly alternatives to traditional packaging materials. The rise in environmental consciousness has led to a surge in the adoption of PCR plastic packaging by industries ranging from food and beverage to cosmetics and personal care.

Government regulations and initiatives promoting the use of recycled materials further propel the market’s expansion. Many countries are implementing policies and standards that encourage or mandate the incorporation of recycled content in packaging. This not only aligns with global sustainability goals but also incentivizes businesses to invest in PCR plastic packaging solutions.

Technological advancements in recycling processes have played a crucial role in boosting the availability and quality of PCR plastics. Improved recycling technologies enable the conversion of post-consumer plastic waste into high-quality recycled materials suitable for packaging applications. This has addressed previous concerns about the consistency and performance of recycled plastics, making them more appealing to manufacturers and consumers alike.

Collaborations and partnerships across the supply chain have also contributed to the growth of the PCR plastic packaging market. Businesses are increasingly working together to establish closed-loop systems, where packaging materials are collected, recycled, and reintroduced into the production cycle. Such collaborations enhance the efficiency and sustainability of PCR plastic packaging, fostering its widespread adoption across different industries.

PCR Plastic Packaging Market Scope

Report Coverage Details
Growth Rate from 2023 to 2032 CAGR of 10.5%
Market Size in 2023 USD 19.36 Billion
Market Size by 2032 USD 47.55 Billion
Largest Market North America
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered By Material, By Product, and By End User
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

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Regional Snapshot

In 2022, North America claimed the largest revenue share at 36%. The PCR (Post-Consumer Recycled) plastic packaging market in this region is undergoing significant changes. There’s a noticeable increase in demand for eco-friendly packaging solutions due to heightened environmental consciousness and sustainability concerns. Both consumers and businesses are actively seeking products crafted from recycled plastics. Regulatory measures aimed at curbing plastic waste and promoting recycling are also influencing the market. Notably, North America is witnessing innovations in the design and materials of PCR plastic packaging, showcasing a strong commitment to environmentally responsible packaging solutions. These trends highlight a growing emphasis on sustainability in the North American packaging industry.

PCR Plastic Packaging Market Share, By Region, 2022 (%)

Meanwhile, Asia Pacific is anticipated to experience the most rapid expansion. In this region, the PCR plastic packaging market is witnessing noteworthy trends driven by environmental awareness and government initiatives. The demand for sustainable packaging solutions is on the rise, with consumers showing a preference for brands utilizing PCR plastics. The surge in e-commerce activities in the region is further boosting the need for eco-friendly packaging. Collaborations between manufacturers and recyclers, coupled with advancements in PCR technology, contribute to the market’s growth. As Asia Pacific economies continue to grow, sustainable packaging practices remain a top priority for both consumers and industries.

Material

The PCR Plastic Packaging Market comprises various recycled materials, each serving distinct purposes in the packaging industry. Common materials include PET (Polyethylene Terephthalate), HDPE (High-Density Polyethylene), LDPE (Low-Density Polyethylene), and others. These materials undergo recycling processes to create sustainable packaging solutions that align with environmental goals.

Product

The diversity of PCR plastic packaging is evident in its product segmentation. This encompasses a range of packaging types, such as bottles, containers, bags, films, and more. The adaptability of PCR plastics allows for the creation of versatile packaging solutions suitable for different industries. From beverage bottles to food containers, PCR plastic products cater to a wide array of packaging needs.

End User

The end-user segmentation further refines the market based on the industries that adopt PCR plastic packaging. Key sectors include food and beverage, personal care, pharmaceuticals, and others. PCR plastics are increasingly favored in these industries due to their eco-friendly profile, responding to the rising consumer demand for sustainable packaging options. As regulatory pressures and environmental awareness grow, end-users are driving the adoption of PCR plastic packaging across various sectors.

Recent Developments

  • In 2022, the Design4Circularity initiative, comprising Clariant, Siegwerk, Borealis, and Beiersdorf, has successfully created a transparent personal care bottle crafted entirely from 100% post-consumer recyclate (PCR). This innovative bottle design incorporates a printed drinkable full body shrink sleeve for distinctive branding and product differentiation. This collaborative effort within the personal care industry is focused on crafting circular packaging solutions that meticulously consider every stage of the development process. The primary objectives of this initiative are to advance sustainable packaging by reducing plastic waste, minimizing the reliance on virgin plastic materials, and mitigating the environmental impact associated with plastic production.
  • In 2022, Cascades, the prominent paper products and packaging company headquartered in Canada, introduced a range of packaging solutions that are entirely composed of post-consumer recycled (PCR) materials. Among their innovations is a 100% recycled PET (RPET) food tray, designed with ingenuity to seamlessly integrate with the existing packaging equipment used by food processors and retailers. Cascades proudly shared that they have committed substantial resources, investing more than USD 23 million, in the development of these 100% RPET packaging solutions.

Reasons to Purchase this Report:

  • Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
  • In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
  • Market size in USD million and volume in million units provided for each segment and sub-segment.
  • Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
  • Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.

PCR Plastic Packaging Market Players

  • Berry Global Group, Inc.
  • Amcor Limited
  • Plastipak Holdings, Inc.
  • Sealed Air Corporation
  • Mondi Group
  • Sonoco Products Company
  • Huhtamäki Oyj
  • DS Smith Plc
  • Winpak Ltd.
  • Silgan Holdings Inc.
  • Coveris Holdings S.A.
  • Printpack, Inc.
  • Greif, Inc.
  • Constantia Flexibles Group GmbH
  • ProAmpac Holdings, Inc.

Segments Covered in the Report

By Material

  • PET
  • PE
  • PVC
  • PP
  • PS

By Product

  • Bottles
  • Trays
  • Pouches

By End User

  • Food, Beverage
  • Healthcare
  • Cosmetics
  • Industrial

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on PCR Plastic Packaging Market Market 

5.1. COVID-19 Landscape: PCR Plastic Packaging Market Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global PCR Plastic Packaging Market Market, By Material

8.1. PCR Plastic Packaging Market Market Revenue and Volume, by Material, 2023-2032

8.1.1 PET

8.1.1.1. Market Revenue and Volume Forecast (2020-2032)

8.1.2. PE

8.1.2.1. Market Revenue and Volume Forecast (2020-2032)

8.1.3. PVC

8.1.3.1. Market Revenue and Volume Forecast (2020-2032)

8.1.4. PP

8.1.4.1. Market Revenue and Volume Forecast (2020-2032)

8.1.5. PS

8.1.5.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 9. Global PCR Plastic Packaging Market Market, By Product

9.1. PCR Plastic Packaging Market Market Revenue and Volume, by Product, 2023-2032

9.1.1. Bottles

9.1.1.1. Market Revenue and Volume Forecast (2020-2032)

9.1.2. Trays

9.1.2.1. Market Revenue and Volume Forecast (2020-2032)

9.1.3. Pouches

9.1.3.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 10. Global PCR Plastic Packaging Market Market, By End User 

10.1. PCR Plastic Packaging Market Market Revenue and Volume, by End User, 2023-2032

10.1.1. Food, Beverage

10.1.1.1. Market Revenue and Volume Forecast (2020-2032)

10.1.2. Healthcare

10.1.2.1. Market Revenue and Volume Forecast (2020-2032)

10.1.3. Cosmetics

10.1.3.1. Market Revenue and Volume Forecast (2020-2032)

10.1.4. Industrial

10.1.4.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 11. Global PCR Plastic Packaging Market Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.1.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.1.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.1.4. U.S.

11.1.4.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.1.4.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.1.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.1.5.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.1.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2. Europe

11.2.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2.4. UK

11.2.4.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.4.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2.5. Germany

11.2.5.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.5.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2.6. France

11.2.6.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.6.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.6.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.7.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.2.7.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3. APAC

11.3.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3.4. India

11.3.4.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.4.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3.5. China

11.3.5.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.5.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3.6. Japan

11.3.6.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.6.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.6.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.7.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.3.7.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4. MEA

11.4.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4.4. GCC

11.4.4.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.4.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4.5. North Africa

11.4.5.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.5.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4.6. South Africa

11.4.6.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.6.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.6.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.7.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.4.7.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.5. Latin America

11.5.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.5.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.5.4. Brazil

11.5.4.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.5.4.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.5.4.3. Market Revenue and Volume Forecast, by End User (2020-2032)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Volume Forecast, by Material (2020-2032)

11.5.5.2. Market Revenue and Volume Forecast, by Product (2020-2032)

11.5.5.3. Market Revenue and Volume Forecast, by End User (2020-2032)

Chapter 12. Company Profiles

12.1. Berry Global Group, Inc.

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Amcor Limited

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Plastipak Holdings, Inc.

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Sealed Air Corporation

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Mondi Group

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Sonoco Products Company

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Huhtamäki Oyj

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. DS Smith Plc

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Winpak Ltd.

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Silgan Holdings Inc.

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

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