PCR Plastic Packaging Market is predicted to reach USD 74,745.2 million at a CAGR of 6.9% during the forecast period

Pune, India, Oct 2022, MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Global PCR Plastic Packaging Market.

Global PCR Plastic Packaging Market

Post-consumer recycled (PCR) packaging is a form of recycled packaging which is made up of packaging products that are consumed by the end users. The used packaging scrap/waste is collected at the recycling plant and recycled and then reprocessed into a resin to make a new form of packaging. The demand for such kind of packaging is gaining significant traction worldwide on the back of its highly sustainable and recyclable outlook.

Market Synopsis

PCR plastic packaging market size is projected to be worth USD 74,745.2 million by 2030, registering a CAGR of 6.9% during the forecast period (2022–2030).

PCR plastic packaging has emerged as the best alternative to the conventional form of plastic packaging. The shifting inclination of packaging manufacturers toward recyclable packaging to enhance their overall circular economy is supporting both sales and demand for PCR plastic packaging. Initiatives by leading packaging giants across the globe to expand their packaging product range in the category of PCR plastic packaging is escalating the PCR plastic packaging market growth considerably. The future market growth outlook for PCR plastic packaging market seems noteworthy as the demand for highly recyclable packaging is significantly high in the global market.  

Competitive Landscape

The global PCR plastic packaging market is slightly fragmented and consists of many organized and unorganized industry players. Leading as well as small-scale manufacturers operating in the global PCR plastic packaging market are Investing and launching new PCR packaging product ranges in the market to lure a major portion of end use customers. Key players include Berry Global Inc, Amcor Plc, Genpak, LLC, Klöckner Pentaplast, O.BERK COMPANY, Placon, Coveris, PRETIUM PACKAGING, Rose Plastic AG, Borealis AG and Henkel cooperation.

Segmentation

By Material

• Polyethylene Terephthalate (PET): PCR polyethylene terephthalate (PET) is chemically stable polyester and has enormous applications in packaging category. PCR polyethylene terephthalate (PET) material has excellent water and moisture barrier properties back on which its substantially used for manufacturing packaging bottles and jars. Furthermore, PCR polyethylene terephthalate (PET) also possesses high mechanical strength which makes it ideal for both food and non-food packaging applications.


• Polyethylene (PE): PCR polyethylene (PE) is one of the widely used thermoplastics. PCR polyethylene (PE) is light in weight, durable and is used for manufacturing bottles, bags jar and others. Depending on its density and branching polyethylene (PE) available in variety of grades in the market. Back on its structure, PCR polyethylene (PE) offers reasonable impact strength.


• Polypropylene (PP): PCR polypropylene (PP) one of the commonly used materials in packaging industry for both rigid and flexible packaging. High chemical and fatigue resistance of PCR polypropylene (PP) makes it ideal for packaging a range of food and nonfood items. Furthermore, the highly economical and light weight outlook of PCR polypropylene (PP) raises its demand among the packaging manufacturers.


• Others (PLA, PHA, PVC etc): The other category includes PCR plastic packaging materials such as PLA (Polylactic acid), PHA (polyhydroxyalkanoates) and PVC (polyvinyl chloride). Back on its mechanical outlook, these materials are used for manufacturing both rigid and flexible packaging solutions. Though, these material finding the limited packaging applications, the other segment is holding the considerable market share in the market.

By Application

• Bottles: PCR plastic bottles is driving the global PCR plastic packaging market both in terms of sales and demand. PCP plastic packaging bottles made of polyethylene terephthalate (PET), polyethylene (PE), and polypropylene (PP) material are predominantly used by the end users on a frequent basis. The handy packaging outlook of PCR plastic bottles along with high product customization make the target segment more dominant.


• Trays & Clamshells: PCR plastic trays are used for shipping, packaging, storage and handling of range of food and non-food products. Based on its application, trays and clamshells are frequently used in food & beverages, pharmaceuticals and cosmetics and personal care industries. PCR plastic packaging trays and clamshell are light in weight and durable as well which further raise their popularity among the end users. The target segment is estimated to hold a considerable market share during the coming years.


• Bags & Sacks: Bags and sacks are one of the leading forms of flexible PCR plastic packaging used for packaging of range of food and non-food products. PCR plastic bags and sacks are majorly used as primary and secondary packaging. Bags and sacks made up of PCR plastic can be available in various sizes and shape which further fulfill the precise packaging requirement of the end users.


• Cups & Jars: Cups and jars is another form of rigid PCR plastic packaging used across the cosmetics, food & beverage and pharmaceutical industry. Aesthetic appeal and transparent packaging outlook of cups and jars makes them popular among the end users. These PCR plastic packaging cups and jars are available in variety of diameters and are easy to fill on the back of wide mouth opening.


• Blisters: PCR plastic blisters are pre-formed packaging solution predominantly used in pharmaceuticals, food and personal care and cosmetics industries. One of the pivotal applications of blister packaging is packaging of oral pharmaceutical drugs such as tablets and capsules. The ability of PCR plastic blisters to offer high barrier packaging to range of food and non-food products raise its demand among the brand owners.


• Others: Other category comprises other forms of packaging such as pouches, sachets, and tubs. PCR plastic pouches, sachets and tubs are widely used for packaging of solid, liquid and semi liquid products. These packaging solutions, especially pouches and sachets are gaining significant traction in the market on the back its ability to provide prolonged self-life and packaging convenience.

By End Use

• Food & Beverages: Food and beverage industry is leading the chart in terms of the demand generation for a range of PCR plastic packaging solutions such as bottles, trays and clamshells, cups and jars and others. Brand owners operating in the global food and beverage market are opting for recyclable and sustainable form packaging to seek the attention of a major portion of the end users. The healthy market outlook for the food and beverage sector is anticipated to create significant demand for PCR plastic packaging solutions during the forecast period.


• Pharmaceuticals: Pharmaceutical manufacturers are significantly incorporating PCR plastic packaging to pack, store and ship a range of pharmaceutical products. The ability of PCR plastic packaging to provide the required safe packaging to pharmaceutical drugs is fueling market growth. PCR plastic packaging solutions such as blister packaging, trays, bottles and jars and others are witnessing hefty demand across the pharmaceutical industry. In terms of market growth, the pharmaceuticals segment is projected to experience soaring market growth during the forecast period.


• Personal Care & Cosmetics: The personal care & cosmetics industry manufactures, manufacture consumer products used for beauty and personal hygiene. Personal care & cosmetics is a growing segment for PCR plastic packaging as the demand for recyclable packaging in the global cosmetic packaging market is substantially high in current times. Leading cosmetic giants are switching to recycling packaging solutions to achieve their future sustainability goals.


• Others: The other category includes end-use industries such as electronics, homecare and toiletries. These end use industries is also generating the considerable demand for PCR plastic packaging solutions. PCR packaging solutions such as bags and sacks, clamshells, pouches are predominantly used in electronics, homecare and toiletries industries. The target segment is anticipated to witness decent and steady market growth during the foreseeable future.

By Region

• North America: The growth in the North America PCR plastic packaging market is mainly attributed to the key players in the US and Canada, which has significantly contributed to the growth of PCR plastic packaging market in the region


• Europe: Technological advancement associated with new packaging technologies in European countries is driving market growth substantially.


• Asia-Pacific: Asia pacific region can be revenue generating hub for manufacturers. Rising manufacturing output from end-use industries such as food & beverages and pharmaceuticals is creating massive demand for packaging solutions and thus creating a positive impact on the PCR plastic packaging market growth in the region.


• Latin America: Rising per capita consumption of pharmaceutical, food, and personal care products is bolstering the market growth in Latin American countries.

Middle East & Africa: Growth in this region is significantly attributed to the high economic growth rate followed by significant investments across various industries such as food & beverage, pharmaceuticals, and personal care.

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