Market Overview:

The PCR Plastic Packaging Market Size Is Projected To Be Worth USD 40.89 Billion By 2022, And USD 65.13 Billion By 2030 Registering A CAGR Of 5.99% During The Forecast Period 2023–2030.

Post-consumer resin, or PCR, is a type of packaging that is good for the environment and that many companies use to support recycling programs, meet consumer demand, and reduce their impact on landfills. PCR plastics are made from PET bottles and other plastics that have already been used. Through community recycling programs, these materials are turned into other packaging materials. PCR plastic packaging is a type of packaging that is very good for the environment and is becoming more popular around the world.

As more people are willing to pay more for more environmentally friendly packaging, the market for post-consumer recycled (PCR) plastic packaging could grow. A large number of companies in the packaging industry were smart enough to change with the times. Many of them are responding to this demand by making their packaging solutions more friendly to the environment. One way to do this is to increase the PCR content, especially in rigid packaging that uses polyethylene terephthalate a lot (PET).

COVID-19 Impact:

In the last few months, most industries around the world have been hurt in some way. This is because precautionary lockdowns and other restrictions put in place by governments around the world caused major problems in their manufacturing and supply chains.

The same is true for the global market for PCR plastic packaging. As a result, consumer demand has also gone down because people are now more interested in cutting out non-essential expenses from their budgets. This is because the outbreak has had a big effect on most people's finances in general.

Over the next few years, these factors are likely to slow the growth of the global PCR Plastic Packaging market's revenue. But as each country's government starts to lift these restrictions, the global PCR Plastic Packaging market is likely to recover as well.

Market Dynamics:

Market Trends:

• Regulations Imposed by Authorities to Surge the Adoption of Recycled Products

In North America and Europe, government and regulatory bodies have rules that make it easier to use recycled plastic in a variety of ways. For example, polymer manufacturers are more likely to recycle because of the rules in place in European countries about how to design recycling processes, collection systems, and new products. Also, countries like the U.S., Brazil, India, and Canada have banned single-use polymers to cut down on plastic pollution. This will be a trend that helps the market.

Also, in 2018, India, China, and Mexico had recycling rates of 60%, 25%, and 24%, respectively, for plastic. As recycling rates rise in developing countries, recycling businesses around the world will have more chances to grow. So, the steps that a number of countries have taken to encourage recycling will help the market for recycled plastic grow.

Driving Factors:

• Increasing Adoption in Packaging Industry

In industries like food and drink and consumer goods, the need for recycled materials is growing. Due to the high demand for packaging that is safe for food, the food and beverage industry is using more recyclable polymer. These materials can do a good job of replacing traditional plastics as a barrier between food products and the environment, which will ultimately grow the market. Polyethylene terephthalate that has been used before is a great material for making bottles for water and other drinks.

Recycled polymers are used to package things like sports equipment, fashion accessories, and toys, in addition to food and drinks. This helps make the products last longer. Also, because these plastics don't react with anything, they are being used more and more to package soaps, surfactants, shampoos, and other personal care products. The market for recycled plastics will grow because more and more of it is being used to make packaging for consumer goods.

• Putting More Attention on Improving the Circular Economy

Leading and medium-sized companies in the global packaging industry are always working to reduce their carbon footprints and make more products that can be recycled and are made from materials that are good for the environment. The fact that packaging companies are learning more about sustainable packaging strategies and projects is an important factor in the growth of the PCR plastic packaging market around the world. Manufacturers are making and releasing PCR plastic packaging solutions on a regular basis. This helps them improve their plans for the circular economy. Leading manufacturers are also spending money on a regular basis to improve their PCR plastic packaging lines, which is also a big factor in the market's growth.

Restraining Factors:

• Preference for Virgin Plastics over their Recycled Alternatives 

Virgin plastics are used for many things, like putting food in packaging and making parts for cars. In terms of quality, they are much better than their recycled alternatives. Even though regulatory groups have made rules to increase the use of PCR plastics in product packaging, manufacturers are hesitant to use them because of the risk of impurities.

Also, virgin polymers are better when a certain mix of chemicals and additives is needed for a certain job. Also, the pandemic led to a drop in the price of crude oil, which brought down the price of virgin plastics compared to recycled plastics. During the review period, the growth of the market is likely to be slowed down by the things listed above.

• Lack of Infrastructure for Recycling Packaging

One of the most important things about PCR plastic packaging is that the people who use it can recycle it. The factories that make post-consumer recycled (PCR) plastic packaging need to be big enough and run well enough to make the end product. If there aren't enough modern recycling centers with the right tools, it may be hard to make PCR plastic packaging. The lack of recycling plants in Asia, the Middle East, and Africa is slowing the growth of the PCR plastic packaging market in those areas. Along with this, brand owners, manufacturers, and end users in Asian countries don't know much about PCR plastic packaging, which is also slowing the market growth to some degree.

Opportunities:

• Potential End-Use Industries can be a Source of Funds for Manufacturers

Most of the demand for PCR plastic packaging comes from the growing and promising food, beverage, and pharmaceutical industries. As people around the world spend more on food, drinks, and medicine, there is a huge demand for food and nonfood products and their packaging. In the past few years, these industries have made a lot more stuff, and that's not likely to change in the years to come. Leading companies in the global packaging market make different kinds of packaging to meet the needs of these end-use industries. Most PCR packaging solutions, such as bottles, trays and clamshell, bags and sacks, cups and jars, and blisters, are used in the food and beverage and pharmaceutical industries. Manufacturers in the global market for PCR plastic packaging can focus on these high-potential end-use industries to sell as much PCR plastic packaging as possible and make as much money as possible.

• Implementing Sustainable Packaging Solutions to Meet Growing Consumer Demand and Preferences

Consumers like brands that make their products more environmentally friendly. In the same way, they don't buy brands that aren't responsible and hurt the environment. Because of this, many companies that make flexible plastic packaging are putting money into research and development to find new packaging materials that are better for the environment. They are also starting recycling programs and making it easier to recycle packaging. As long as people want more environmentally friendly options, the industry will probably keep changing and coming up with new ways to meet these needs, giving flexible plastic packaging manufacturers a chance to get them to buy their environmentally friendly packaging.

• Consumers Willingly Spending on PCR Plastic

Consumers are also willing to pay more to keep the world safe from possible dangers. So, brands on the market have a chance to influence their buying decisions by offering packaging made from plastic that has already been used. Since more and more companies are moving away from traditional ways of doing business in order to meet the needs of modern consumers, it is likely that the market's sales will grow quickly.

Challenges:

• Recyclability of Plastics

The ability to recycle plastic packaging is a big problem for the environment and society, as well as a big challenge for the packaging industry. Recycling plastic packaging with more than one layer is hard because it takes more steps than recycling plastic packaging with only one layer. Multi-layer plastic packaging is made up of different kinds of polymers and inks, which makes it hard to separate from other trash. Polypropylene (PP) films can get stuck in recycling machines and cause problems during the recycling process, especially when they are mixed with other types of plastic packaging. This is because PP films have a lower melting point than other types of plastic. This means that they can melt and stick to recycling equipment, which can cause blockages and other problems, as well as add time and money to the production process.

Strategic Development:

• In August 2022 - Europe-based flexible packaging company Coveris released a lightweight, next-generation stretch film with 30% recycled plastic. This was done to cut down on the use of virgin plastics.
• In January 2022 - Berry Global Inc., one of the biggest companies in the packaging business, announced a new line of products called BCircular that are made of 100% PCR. The new line of packaging is perfect for use in food and drink packaging.
• In June 2022 - Berry Global Inc. also released a post-consumer recycled (PCR) packaging container and lid pack solution
• In January 2021 - Amcor Plc, another well-known packaging company, said that it would invest in strengthening and growing its line of eco-friendly and recyclable packaging products. Through an investment firm, we brought PCR rigid packaging solutions to the market.
• In January 2023 - MDK, a Chinese company that makes packaging for medical devices, was bought by Amcor Limited. This purchase will make Amcor even more of a leader in the medical packaging market in the Asia-Pacific region, especially in China, India, and Southeast Asia.
• In December 2022 - Amcor Limited and Licella Holdings signed a Memorandum of Understanding (MOU) to invest in advanced recycling facilities for plastic in Australia. This deal shows how committed Amcor and Licella are to building a local circular economy for soft plastics in Australia. It also moves Amcor closer to its goal of having 30% recycled material in all of its products by 2030.

Key Vendors:

Top market players are

• Berry Global Inc (USA)

Berry Global, Inc. makes and sells packaging made of plastic. The company sells agricultural films, drink cups, plates, bottles, bowls, jars, containers, lids, tubes, closures, trash bags, and other packaging products like tapes and adhesives. Berry Global has customers all over the world.

• Amcor Plc (Australia)

A world leader in developing and making environmentally friendly packaging for food, drinks, pharmaceuticals, medical products, home and personal care products, and other goods. Amcor works with top companies all over the world to protect their products and the people who depend on them, set their brands apart, and improve their supply chains. They do this by offering a variety of flexible and rigid packaging, specialty cartons, closures, and services.

• Genpak, LLC (USA)

Food containers and packaging products are sold by Genpak LLC. The company makes foam and clear cups, bowls, plates, hinged containers, baker containers, serving trays, cutlery, and flexible packaging.

• Klöckner Pentaplast (U.K)

Focused on achieving its vision, "The Sustainable Protection of Everyday Needs," kp is a global leader in rigid and flexible packaging, as well as specialty film solutions for the pharmaceutical, medical device, and protein markets, among others. With a wide range of innovative packaging and product films and services, kp is an important part of the customer value chain. It protects the integrity of products, protects the reputation of brands, and makes things more sustainable.

• BERK COMPANY (USA)

The O. Berk Company, L.L.C. offers ways to package things. The company sells all kinds of industrial supplies in large quantities. The O. Berk Company works with people in the U.S. O.Berk Company is a company that makes bottles and other containers out of both plastic and glass.

• Placon (USA)

Placon Corporation makes thermoformed plastic packaging, sells it, and designs it. The company serves the food, consumer packaged retail, and medical device markets with custom retail packaging, stock plastic camshells, stock food packaging, custom food containers, medical device packaging, and sustainable packaging. In North America, Placon does business.

• Coveris (U.K)

Coveris is a top European packaging company that makes flexible packaging solutions out of paper and plastic for some of the most well-known brands in the world. The company makes packaging for all kinds of products, including food, pet food, medical devices, and industrial and agricultural goods. Because they have a wide range of technical skills, their high-quality packaging helps products last longer, which cuts down on waste and waste of resources.

• PRETIUM PACKAGING (USA)

Plastic containers are made by Pretium Packaging, L.L.C. The company sells plastic packaging for food, cleaning products, medicines, personal care products, agricultural chemicals, and other industries. Pretium Packaging works with customers all over the world. The company makes blow-molded plastic bottles and containers with polyethylene terephthalate, polyethylene, and polypropylene as its main materials. The company works with many different industries, such as lawn and garden supplies, automotive cleaning and additives, food, beauty and personal care, lids, specialty beverages, industrial cleaning, household cleaning products, healthcare, and agricultural chemicals.

• Rose Plastic AG (Germany)

People think that rose plastic is the best place in the world to get high-quality hard plastic packaging for the tooling industry. But many other industries also value the third-generation owner-managed company's unwavering quality, accuracy, and dependability. The efficiency and experience are relied on by companies that make industrial parts, supplies for DIY stores and the tool trade, and consumer goods and branded goods.

• Borealis AG (Austria)

Borealis AG has solutions for chemicals and plastics. Polyolefins, base chemicals, and fertilizers are all things that the company sells. Borealis works with the automotive, energy, healthcare, and pipe and fittings industries all over the world. t makes polyethylene and polypropylene and sells them to the public. The company sells melamine, phenol, acetone, and compounds made of ethylene, propylene, and polyolefin.

• Henkel cooperation (Germany)

Henkel AG & Co. KGaA makes and sells home and beauty care products and offers solutions for sticking things together. Its business is split into the following parts: Industrial Adhesives, Adhesives for Consumers, Craftsmen, and Building, Beauty Care, and Laundry and Home Care. The Adhesives for Consumers, Craftsmen, and Building segment sells products for private users, craftsmen, and the building industry. These products are based on Loctite, Pritt, Pattex, and Ceresit, which are international brand platforms.

Segmentation Analysis:

The market is segmented on the basis of type, application, end-use, packaging type and regions.

By Type Outlook:

The market is divided into polyethylene terephthalate (PET), high-density polyethylene (HDPE), polypropylene (PP), low-density polyethylene (LDPE), and others based on the types of plastics used. Polyethylene terephthalate is the biggest segment because it is used a lot to package food and bottle drinks. It is in high demand for food and drink packaging because it is non-toxic, lightweight, durable, and easy to recycle. Because of rules set by many governments around the world, companies that make bottles for water and other drinks have switched from using virgin PET to using recycled PET. Also, recycled PET can be used to make carpets, furniture, and fibers, which is expected to make the market grow.

PP is one of the most popular plastics because the packaging and auto industries use it a lot. Recycled polypropylene (PP) is used by a number of companies to package their goods because it lasts longer and is better for the environment than traditional materials. Recycled polypropylene (PP) is being used to replace new polypropylene (PP) parts in cars because it lowers the companies' overall carbon footprint.

HDPE is thought to be the easiest type of plastic to recycle. Every year, around 30 million tons of HDPE waste are made all over the world. HDPE doesn't break down in nature, so it's important to reuse and recycle it to lessen its effect on the environment. When HDPE is made from recycled plastic, it uses less oil as a raw material and costs less to make than virgin plastic. HDPE is used for more traditional things, but it can also be recycled to make ropes, toys, pipes, and bins.

Also, LDPE is thought to be a clean and safe plastic, but it takes a lot of petroleum products to make it. Because of this, it is important to find a more sustainable, recycled alternative. Recycled LDPE is used as wall panels and flooring in building projects. It is also used to make furniture, trash cans, and bubble wrap for shipping, which gives the market more chances to grow.

• Polyethylene Terephthalate (PET)
• High-Density Polyethylene (HDPE)
• Polypropylene (PP)
• Low-Density Polyethylene (LDPE)
• Others

By Application Outlook:

Based on where they are used, the market is split into non-food packaging, food packaging, construction, automotive, and other uses. Due to the high demand for recycled PET to make bottles and other packaging products like films and wraps, the non-food packaging segment is likely to stay the largest over the next few years. Most of the time, these polymers cost less than virgin plastics, which makes them even more popular for making packaging products.

On the other hand, these plastics are also used in important ways to package food. The people who make food products look for materials that are not only safe for handling food but also long-lasting and cheap. Recycled polymer meets these needs, which is why companies that make food products need a lot of recycled plastics.

When it comes to how the market is used, the construction segment is seen as one of the most important ones. Recycled polymer is being used more and more to make flooring, wall panels, wallpaper films, pipes and fittings, and other building materials. This is expected to increase the demand for recycled polymer in building and construction applications.

In the same way, sales of recycled plastic are expected to grow a lot in the automotive application segment during the forecast period. The market is expected to grow as more body parts for cars are made from these plastics instead of more expensive traditional polymers.

• Non-Food Packaging
• Food Packaging
• Construction
• Automotive
• Others

By End-User:

Based on the end use, the global PCR plastic packaging market is split into Food & Beverages, Pharmaceuticals, Personal Care & Cosmetics, Electronics, and Others. During the time frame of the forecast, the market is expected to be led by the food and beverage subsegment. Because the global food and beverage industry is making more and more products, and because the demand for rigid packaging is going up a lot, the target market has a huge need for PCR plastic packaging. Also, in the next ten years, the pharmaceutical industry could become a source of income for manufacturers.

• Food
• Beverages
• Pharmaceuticals
• Cosmetics and Personal Care
• Homecare and Toiletries
• Electronics
• Others (Packaging for Industrial Purpose)

By Packaging Type:

During the time frame of the forecast, the pouches segment is expected to have the highest CAGR. Pouches are small bags made of two flat, flexible sheets that are sealed along the edges to make a compartment whose size depends on how the walls are arranged. Stand-up pouches (SUPs) and flat or pillow pouches are the two main types of pouches. Standard stand-up pouches and retort stand-up pouches are two more types of stand-up pouches. Pouches are a great way to package bulk coffee or foods like dried or smoked meats because they are easy to use, can be sealed with heat, and come in a wide range of sizes and shapes.

• Pouches
• Rollstock
• Bags
• Films & Wraps
• Other Packaging Types

Regional Insights:

In terms of market share and dominance, North America and Europe have a large share of the global PCR plastic packaging market. Leading PCR plastic packaging manufacturers like Berry Global Inc, Amcor Plc, Klockner Pentaplast, and others have a large presence in North American and European countries. This is a major factor in the growth of the market. Also, when these manufacturers in the PCR plastic packaging industry come out with new packaging products, it makes PCR plastic packaging more popular with end users. These same things also drive sales of PCR packaging solutions in North America and Europe.

On the other hand, manufacturers expect Asia-Pacific to become their main source of income in the near future. In high-potential Asian countries like China, Japan, and India, where packaging technology is changing quickly and people are becoming more aware of highly recyclable packaging, the growth of the PCR plastic packaging market is being driven by these factors. On the global PCR plastic packaging market, manufacturers can make the most money by focusing on the very lucrative Asian countries.

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia-Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Scope of Report:

Conclusion:

• The market report gives both qualitative and quantitative insights, as well as a detailed analysis of the size and growth rate of the market for all possible market segments.
• Along with this, the report gives a detailed look at the market dynamics, trends in the global recycled plastic market, and the competitive landscape.
• In the report, you can learn about recent changes in the industry, the regulatory landscape in key countries, macroeconomic and microeconomic factors, and key industry trends.