PCR Plastic Packaging Global Market Report 2024

The PCR plastic packaging market size has grown strongly in recent years. It will grow from $48.5 billion in 2023 to $51.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The historic growth in recycling can be attributed to early environmental awareness, the rise of recycling infrastructure, government regulations, consumer programs, and industry sustainability commitments. These factors drove increased recycling efforts and environmental conservation.

The PCR plastic packaging market size is expected to seestrong growth in the next few years. It will grow to $67.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period is driven by several factors, including global targets to reduce plastic usage, heightened consumer demand for sustainable packaging solutions, the proliferation of corporate sustainability objectives, the expansion of circular economy initiatives, and the incorporation of recycled materials into branding strategies. Notable trends expected during this period include a surge in the adoption of sustainable packaging solutions within the luxury segment, an emphasis on customization and brand personalization, the development of advanced smart packaging incorporating post-consumer recycled (PCR) components, the emergence of regenerative packaging models, and an increasing use of bio-based PCR plastics.

The burgeoning e-commerce landscape is poised to drive the expansion of the PCR plastic packaging market. E-commerce activities, which encompass online transactions, digital payments, and various transaction models, have revolutionized commerce by leveraging the Internet. PCR plastic finds extensive use in e-commerce shipping, including mailers, bubble wrap, and protective packaging, providing a balance between durability and environmental sustainability, thereby reducing reliance on virgin plastics. For example, as reported by the U.S. Census Bureau in November 2023, retail e-commerce sales in the United States reached approximately $284.1 billion in the third quarter of 2023, marking a 2.3% growth compared to the previous quarter. Consequently, the rapid expansion of e-commerce activities is expected to fuel the demand for PCR plastic packaging.

Major companies in the PCR plastic packaging market are prioritizing innovative product development and sustainable branding, exemplified by the introduction of 100% PCR bottles. These bottles are crafted entirely from post-consumer recycled plastic, showcasing a commitment to environmental sustainability and circular economy principles. For instance, in November 2023, Berry Global Group, Inc., collaborated with The Bio-D Co., a UK-based environmentally conscious cleaning company, to launch a line of reusable bottles made from PCR plastic. Available in various sizes, these bottles are designed for Bio-D's range of liquid products, offering eco-friendly alternatives for laundry detergent, fabric conditioner, dishwasher rinse aid, dish soap, and home and garden cleaner. Bio-D plans to distribute these bottles for refill at over 300 refill stores nationwide, promoting sustainability throughout the product lifecycle. Additionally, the recyclability of these bottles contributes to a reduction of 14.3 tons of annual CO2 emissions compared to using virgin plastic, further advancing environmental goals.

In September 2022, Waste Management, Inc., a US-based waste management company, finalized the acquisition of the US business of Avangard Innovative for an undisclosed sum. With this acquisition, Waste Management, Inc. intends to offer waste audits and consulting services to businesses, aiding in the identification of opportunities for waste reduction and recycling. Avangard Innovative, a US-based company driven by technology and circular economy solutions, specializes in providing solutions for post-consumer recycled (PCR) plastic packaging.

Major companies operating in the pcr plastic packaging market report are Amcor Limited, Berry Global Group Inc., Mondi Group, DS Smith Plc, Sonoco Products Company, Silgan Holdings Inc., Silgan Dispensing Systems, Pactiv Evergeen Inc., Sealed Air Corporation, Huhtamäki Oyj, Inteplast Group, Plastipak Holdings Inc., LPLA Group, Constantia Flexibles Group GmbH, INDEVCO, Printpack Inc., Coveris Holdings S.A., Charter Next Generation Inc., ProAmpac Holdings Inc., Winpak Ltd., Greif Inc., Alpha Packaging Holdings Inc., NEX Films, Genpak LLC, Envision Plastics, Palcon Corporation, Spectra Packaging Solutions Ltd., Reflex Packaging Inc., Kelly Green Products, Mills River.

Europe was the largest region in the PCR plastic packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pcr plastic packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pcr plastic packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

PCR plastic packaging refers to packaging materials crafted from post-consumer recycled (PCR) plastics, originating from discarded plastic products used by consumers. These materials play a pivotal role in diminishing the reliance on virgin plastic production, thereby promoting a more sustainable and eco-friendly approach to packaging.

The primary materials utilized in PCR plastic packaging encompass polyethylene terephthalate (PET), polystyrene (PS), high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyvinyl chloride (PVC), and other variants. PET, for instance, is renowned for its transparency, lightweight nature, strength, and recyclability, making it a popular choice in PCR plastic packaging. This packaging format encompasses diverse forms such as pouches, rollstock, bags, films, and wraps, and finds application across various industries including food, beverages, pharmaceuticals, cosmetics, personal care, homecare, toiletries, electronics, and others.

The PCR plastic packaging research report is one of a series of new reports that provides PCR plastic packaging market statistics, including the PCR plastic packaging industry's global market size, regional shares, competitors with a PCR plastic packaging market share, detailed PCR plastic packaging market segments, market trends and opportunities, and any further data you may need to thrive in the PCR plastic packaging industry. This PCR plastic packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The PCR plastic packaging market consists of sales of PCR plastic bottles, PCR plastic containers, PCR plastic tubs, and PCR plastic trays. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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