The recycled PET packaging market is capturing a valuation of US$ 3.2 billion in 2023 and is predicted to reach US$ 6.2 billion by 2033. The market is registering a CAGR of 6.8% during the forecast period.
The market is benefiting from the increasing consumption of packaged food products and carbonated and non-carbonated drinks. This trend is particularly witnessed in emerging economies in East Asia and South Asia.
The consistent adoption of an extensive range of recycled PET packaging solutions such as clamshells & containers, bottles & jars, and other solutions has been noted in East Asia and South Asia.
Rapid penetration in the food, beverages, and healthcare industries, which highly prefer recyclable and sustainable packaging solutions, has led to a great demand for recycled PET packaging solutions in these regions.
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Synthetic Process of Recycling to Rule
Out of the two methods of recycling PET such as mechanical reuse and synthetic process, the latter is expected to dominate, as it involves a systematic approach. Refreshments hold a significant market share in applications from Drugs, Refreshments, Individual Consideration, and Customer Merchandise.
Individual consideration is still developing, as an expensive investment could not be easily tried out by an individual. Customer merchandise is expected to pick up well in the years to come.
The dearth of Required Framework
PET’s effective recycling needs appropriate collection as well as segregation of waste. With improper waste disposal, the entire waste management procedure goes haywire.
Developed countries like Germany, Japan, Australia, and the United States have waste management frameworks in place. However, not all countries can boast of squeaky-clean waste management systems. Examples of these countries are Brazil, Nigeria, South Africa, Türkiye, and Egypt. The standardization of their waste management frameworks is yet to happen. At the same time, it must be noted that in the United States, recyclable containers valued over US$ 11 billion are disposed of impertinently due to recycling facilities not being up to the mark.
As per the government of Canada, close to 85% of plastic waste finds its place in the environment or landfills. The UN Environment Program has released data stating that nearly 330 million tons of plastic waste are produced worldwide every year. The present scenario is that merely 9% of plastic waste is being recycled. The collection for recycling comes to 14%. This percentage is certainly a minuscule one.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 6.8% |
| Market Valuation (2023) | US$ 3.2 billion |
| Market Valuation (2033) | US$ 6.2 billion |
Principal Consultant
The bottles and jars segment is experiencing unmatchable demand in the recycled PET market, especially from the beverage industry. It is attributable to the fact that bottles and jars offer special packaging, high-impact capability, and pricing affordability to end users.
The market secured a valuation of US$ 2.4 billion in 2018 and US$ 3 billion in 2022. The market expanded at a CAGR of 5% between 2018 and 2022.
Prominent packaging manufacturers are adopting stretch blow molding technology to design and manufacture various recycled PET packaging solutions, as this technology offers high output quantities and fine dimensional accuracy.
The beverage industry has been identified as the key end-user of recycled PET packaging solutions. This sector generates a constant demand for recycled PET packaging bottles & jars for packing and storing drinking water and carbonated and non-carbonated drinks. Also, the factors like accessible raw materials and cheap labor are propelling the further course of growth.
The majority of companies dealing with FMCG goods have decided to commit at least half of the recycled content in plastic packaging by the year 2030. Though food-grade recycled plastic is in short supply now, this factor is bound to take the entire recycled PET market by storm in the forecast period.
Based on product type, bottles, and jars are leading the global market by capturing a share of 65.3% during the forecast period. The demand for bottles and jars is increasing due to their excellent properties, strength, durability, and transparency.
The adoption of recycled PET packaging is widely used for cosmetics, food, beverages, home cleaning products, and personal care. Consumers' growing awareness of sustainable packaging is shifting their demand toward bottles and jars.
This segment continues to fuel the global market by increasing the demand for sustainable and eco-friendly packaging solutions. Various end-use industries prefer to enhance product quality and reduce carbon footprints.
Based on end use, the beverages sector is estimated to dominate the global market by securing a share of 43.2% during the forecast period. The adoption of recycled PET packaging is rising for juice, soda, milk, water, and other beverages fueling the global market. Recycled PET packaging reduces environmental impacts, increases sustainability, and does not reduce the beverage's taste.
The global market is driven by the rising demand for beverages, changing consumer preferences, and growing disposable income. Moreover, industries such as cosmetics, food, and personal care also contribute a significant share of the global market during the forecast period. The beverage sector is highly preferred due to increasing consumer trends, and government regulations.
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| Countries | Market Share (2023 to 2033) |
|---|---|
| The United States | 14% |
| Germany | 2.9% |
| Japan | 5.1% |
| Australia | 3.9% |
| China | 7.3% |
| India | 7.7% |
| The United Kingdom | 5.3% |
India and China to Continue Holding the Baton
North America and Europe are saturated with the recycled PET market. The United States, the United Kingdom, France, Spain, and Germany are displaying maturity concerning the global market.
The EU directive includes a target encompassing 25% recycled content in every PET beverage bottle from 2025. This percentage is expected to increase to 30% by the year 2030. Leading brands like PepsiCo, Danone, and Coca-Cola are looking forward to 50% use of recycled PET in bottles by 2030.
Asia Pacific is expected to display maximum vibrancy herein. Densely populated economies like China and India are key markets for recycled PET. India is anticipated to capture a share of 7.7%, and China registering a share of 7.3% in the global market during the forecast period.
The applications include sweaters, carpets, clothes, upholstery, fiber-fill for cushions and sleeping bags, automotive parts, and sheets and film. Moreover, India is witnessing a mass exodus of students from villages to cities for high studies. Some migrate after getting placed. It calls for packaged food as not all prefer cooking while on the move. Recycled PET does render performance analogous to virgin PET.
The United States is securing a share of 14% in the global market during the forecast period. The increasing government initiative to reduce carbon emissions and promote eco-friendly packaging are surging the United States market.
The increasingly advanced and improved processing technologies in recycled PET packaging are driving the market in the country. The key companies in the United States recycled PET packaging market collaborate with government bodies and other organizations to promote their packaging.
The rising new developments, growing awareness, and changing consumer demand are advancing the market in the United States.
Environmental pollution is a hot potato across the globe. Several ways are being tried out to curb it. Recycling products are among the best courses of action herein. Those involved in packaging emphasize developing green and sustainable packaging products. They could be recycled as well as reused.
With recycled PET, virgin plastic’s cost is likely to reduce by nearly 25%. Machines that could accommodate the fluctuations in recycled PET’s quality are also being examined. Initiatives like these are expected to enable the flourishment of the recycled PET packaging market.
Leading packaging manufacturers across continents have shifted their focus from conventional packaging solutions to environment-friendly rigid and flexible packaging solutions. This notable shift toward eco-friendly packaging solutions is driven by:
Polyethylene terephthalate (PET) is a safe, robust, transparent plastic material that can be recycled several times. To benefit from this scenario, leading packaging manufacturers focus on offering a wide range of recycled PET products.
Key players are adopting various marketing tactics to upsurge the global market to another height. These marketing tactics include acquisitions, agreements, partnerships, product launches, mergers, and collaborations.
Recent Developments in the Global Market
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ billion for Value |
| Key Countries Covered | The United States, The United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered |
|
| Key Companies Profiled |
|
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Krones AG, Clear Path Recycling, and Plastipak Holdings, Inc. are key players.
The market is estimated to secure a valuation of US$ 3.2 billion in 2023.
The dearth of the required framework for proper waste disposal limits growth potential.
The market is estimated to reach US$ 6.2 billion by 2033.
Manufacturers have shifted their focus from conventional packaging solutions to environment-friendly rigid and flexible packaging solutions.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Recycling Process
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Recycling Process, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Recycling Process, 2023 to 2033
5.3.1. Synthetic
5.3.2. Mechanical reusing
5.4. Y-o-Y Growth Trend Analysis By Recycling Process, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Recycling Process, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033
6.3.1. Drugs
6.3.2. Refreshments
6.3.3. Individual Consideration
6.3.4. Customer Merchandise
6.3.5. Others
6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. MEA
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. U.S.
8.2.1.2. Canada
8.2.2. By Recycling Process
8.2.3. By Application
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Recycling Process
8.3.3. By Application
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Recycling Process
9.2.3. By Application
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Recycling Process
9.3.3. By Application
9.4. Key Takeaways
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. U.K.
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Recycling Process
10.2.3. By Application
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Recycling Process
10.3.3. By Application
10.4. Key Takeaways
11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.1.4. Singapore
11.2.1.5. Thailand
11.2.1.6. Indonesia
11.2.1.7. Australia
11.2.1.8. New Zealand
11.2.1.9. Rest of Asia Pacific
11.2.2. By Recycling Process
11.2.3. By Application
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Recycling Process
11.3.3. By Application
11.4. Key Takeaways
12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. GCC Countries
12.2.1.2. South Africa
12.2.1.3. Israel
12.2.1.4. Rest of MEA
12.2.2. By Recycling Process
12.2.3. By Application
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Recycling Process
12.3.3. By Application
12.4. Key Takeaways
13. Key Countries Market Analysis
13.1. U.S.
13.1.1. Pricing Analysis
13.1.2. Market Share Analysis, 2022
13.1.2.1. By Recycling Process
13.1.2.2. By Application
13.2. Canada
13.2.1. Pricing Analysis
13.2.2. Market Share Analysis, 2022
13.2.2.1. By Recycling Process
13.2.2.2. By Application
13.3. Brazil
13.3.1. Pricing Analysis
13.3.2. Market Share Analysis, 2022
13.3.2.1. By Recycling Process
13.3.2.2. By Application
13.4. Mexico
13.4.1. Pricing Analysis
13.4.2. Market Share Analysis, 2022
13.4.2.1. By Recycling Process
13.4.2.2. By Application
13.5. Germany
13.5.1. Pricing Analysis
13.5.2. Market Share Analysis, 2022
13.5.2.1. By Recycling Process
13.5.2.2. By Application
13.6. U.K.
13.6.1. Pricing Analysis
13.6.2. Market Share Analysis, 2022
13.6.2.1. By Recycling Process
13.6.2.2. By Application
13.7. France
13.7.1. Pricing Analysis
13.7.2. Market Share Analysis, 2022
13.7.2.1. By Recycling Process
13.7.2.2. By Application
13.8. Spain
13.8.1. Pricing Analysis
13.8.2. Market Share Analysis, 2022
13.8.2.1. By Recycling Process
13.8.2.2. By Application
13.9. Italy
13.9.1. Pricing Analysis
13.9.2. Market Share Analysis, 2022
13.9.2.1. By Recycling Process
13.9.2.2. By Application
13.10. China
13.10.1. Pricing Analysis
13.10.2. Market Share Analysis, 2022
13.10.2.1. By Recycling Process
13.10.2.2. By Application
13.11. Japan
13.11.1. Pricing Analysis
13.11.2. Market Share Analysis, 2022
13.11.2.1. By Recycling Process
13.11.2.2. By Application
13.12. South Korea
13.12.1. Pricing Analysis
13.12.2. Market Share Analysis, 2022
13.12.2.1. By Recycling Process
13.12.2.2. By Application
13.13. Singapore
13.13.1. Pricing Analysis
13.13.2. Market Share Analysis, 2022
13.13.2.1. By Recycling Process
13.13.2.2. By Application
13.14. Thailand
13.14.1. Pricing Analysis
13.14.2. Market Share Analysis, 2022
13.14.2.1. By Recycling Process
13.14.2.2. By Application
13.15. Indonesia
13.15.1. Pricing Analysis
13.15.2. Market Share Analysis, 2022
13.15.2.1. By Recycling Process
13.15.2.2. By Application
13.16. Australia
13.16.1. Pricing Analysis
13.16.2. Market Share Analysis, 2022
13.16.2.1. By Recycling Process
13.16.2.2. By Application
13.17. New Zealand
13.17.1. Pricing Analysis
13.17.2. Market Share Analysis, 2022
13.17.2.1. By Recycling Process
13.17.2.2. By Application
13.18. GCC Countries
13.18.1. Pricing Analysis
13.18.2. Market Share Analysis, 2022
13.18.2.1. By Recycling Process
13.18.2.2. By Application
13.19. South Africa
13.19.1. Pricing Analysis
13.19.2. Market Share Analysis, 2022
13.19.2.1. By Recycling Process
13.19.2.2. By Application
13.20. Israel
13.20.1. Pricing Analysis
13.20.2. Market Share Analysis, 2022
13.20.2.1. By Recycling Process
13.20.2.2. By Application
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Recycling Process
14.3.3. By Application
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. UltrePET
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.1.5.2. Product Strategy
15.1.1.5.3. Channel Strategy
15.1.2. Indorama Ventures Public Limited Company
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.2.5.2. Product Strategy
15.1.2.5.3. Channel Strategy
15.1.3. Krones AG
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.3.5.2. Product Strategy
15.1.3.5.3. Channel Strategy
15.1.4. Clear Path Recycling
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.4.5.2. Product Strategy
15.1.4.5.3. Channel Strategy
15.1.5. Plastipak Holdings, Inc.
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.5.5.2. Product Strategy
15.1.5.5.3. Channel Strategy
15.1.6. PFR Nord GmbH
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.6.5.2. Product Strategy
15.1.6.5.3. Channel Strategy
15.1.7. Phoenix Technologies
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.7.5.2. Product Strategy
15.1.7.5.3. Channel Strategy
15.1.8. CarbonLITE Industries
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.8.5.2. Product Strategy
15.1.8.5.3. Channel Strategy
15.1.9. Placon Corporation
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.9.5.2. Product Strategy
15.1.9.5.3. Channel Strategy
15.1.10. Amcor Limited
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
15.1.10.5.2. Product Strategy
15.1.10.5.3. Channel Strategy
16. Assumptions & Acronyms Used
17. Research Methodology
Packaging
October 2022
REP-GB-7560
250 pages
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Recycled PET Packaging Market
