The 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 2023–2030.
PCR Plastic Packaging Market Overview:
Post-consumer recycled (PCR) plastic packaging is a type of recycled packaging made from packaging products that have already been consumed by consumers. Used packaging scrap is collected at a recycling plant, recycled, and then reprocessed into resins for the production of new packaging. PCR plastic packaging is a highly sustainable form of packaging that is currently gaining global acceptance.
As the number of consumers willing to pay more for sustainable packaging rises, so does the potential for the post-consumer recycled (PCR) plastic packaging market to expand. A significant number of companies in the packaging industry had the foresight to adapt to the changing trends. Many of them are responding to this demand by enhancing the environmental profile of their packaging solutions. Increasing the PCR content, especially in rigid packaging that frequently employs polyethylene terephthalate, is one way to accomplish this (PET).
By the end of 2020, the global market for PCR plastic packaging will be valued at US$ 36,4 billion. With leading brands declaring their intention to use recycled plastic in an effort to reduce plastic waste problems, the market has the potential to grow significantly between 2020 and 2030.
Putting more attention on improving the circular economy is helping the market grow.
Leading and medium-sized companies in the global packaging industry are always working to reduce their carbon footprints and make more products that are both recyclable and made from materials that are good for the environment. One important thing that helps the PCR plastic packaging market grow around the world is that packaging companies are becoming more aware of sustainable packaging strategies and projects. Manufacturers are improving their plans for the circular economy by making and releasing PCR plastic packaging solutions on a regular basis. Leading manufacturers are also investing money regularly to improve their PCR plastic packaging portfolios, which is also helping the market grow in a big way.
Market growth is being slowed down by the lack of infrastructure for recycling packaging.
One of the most important parts of PCR plastic packaging is that end users can recycle the plastic packaging they have used. Post-consumer recycled (PCR) plastic packaging needs to be made in factories that are big enough and run well enough to make the end product. If there aren't enough advanced and well-equipped recycling centres, it might be hard to make PCR plastic packaging. The growth of the PCR plastic packaging market in Asia, the Middle East, and Africa is being slowed by the lack of recycling plants 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 extent.
Potential End-Use Industries Can Be a Source of Funds for Manufacturers
Most of the demand for PCR plastic packaging comes from the food, beverage, and pharmaceutical industries, which are growing and have a lot of potential. As people around the world spend more on food, drinks, and medicines, there is a huge demand for food and nonfood products and their packaging. In the last few years, these industries' manufacturing output has gone up a lot, and it's expected to stay the same in the years to come. Leading companies in the global packaging market make a variety of packaging options to meet the needs of these end-use industries. Most PCR packaging solutions, like 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 PCR plastic packaging market 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.
PCR Plastic Packaging Market Segmentation Analysis
Based on Material:
The segments based on material types of the global PRR plastic packaging market are Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), and Others (PLA, PHA, etc.). The market is driven primarily by the polyethylene terephthalate (PET) and polyethylene (PE) segments. In addition, the prominent use of these two segments in rigid packaging suggests a promising future for their demand.
Based on Application:
Bottles, Trays & Clamshells, Bags & Sacks, Cups & Jars, Blisters, and Others are the segments of the global PCR plastic packaging market based on their application. During the forecast period, the bottles segment will lead the market. The lucrative nature of the target market is attributable to the high usage and demand for bottles, as well as the manufacturers' shifting emphasis on producing and introducing bottles with highly sustainable packaging. In the foreseeable future, the bottle segment is anticipated to hold a significant portion of the market share.
Based on End Use:
Food & Beverages, Pharmaceuticals, Personal Care & Cosmetics, Electronics, and Others are the segments of the global PCR plastic packaging market based on final application. During the forecast period, the food and beverage subsegment is anticipated to dominate the market. A remarkable demand for PCR plastic packaging is being generated in the target market as a result of the increasing output of the global food and beverage industry and the massive increase in demand for rigid packaging. In addition, the pharmaceutical sector could become a revenue-generating sector for manufacturers in the coming decade.
During the Forecast period, North America and Europe are anticipated to be the largest market by region.
North America and Europe significantly dominate the global PCR plastic packaging market in terms of market share and dominance. The substantial presence of leading PCR plastic packaging manufacturers such as Berry Global Inc, Amcor Plc, Klockner Pentaplast, and others in North American and European nations is significantly bolstering market growth. In addition, the introduction of new packaging products by these manufacturers within the PCR plastic packaging industry increases the popularity of PCR plastic packaging among end users. In North America and Europe, the sales of PCR packaging solutions are also driven by these factors.
In contrast, Asia-Pacific is expected to become the revenue-generating centre for manufacturers in the near future. Increasing awareness of highly recyclable packaging combined with rapidly advancing packaging technology in high-potential Asian nations such as China, Japan, and India is driving the growth of the PCR plastic packaging market in the region. Manufacturers operating in the global PCR plastic packaging market can generate the most revenue by targeting the highly lucrative Asian nations.
The competitive landscape of the PCR Plastic Packaging market shows information about each competitor. Details like company overview, financials, revenue, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and depth, and application dominance are all included. The information above is only about what the companies are focusing on in terms of the PCR Plastic Packaging market.
Some of the biggest companies in the PCR Plastic Packaging market are Berry Global Inc (USA), Amcor Plc (Australia), Genpak, LLC (USA), Klöckner Pentaplast (U.K), BERK COMPANY (USA), Placon (USA), Coveris (U.K), PRETIUM PACKAGING (USA), Rose Plastic AG (Germany), Borealis AG (Austria), Henkel cooperation (Germany) among others.
- In August 2022, Europe-based flexible packaging company Coveris launched a lightweight, next-generation stretch film with 30% recycled plastic content to reduce reliance on virgin plastics.
- In January 2022, Berry Global Inc., one of the leading packaging giants, announced a new BCircular product line consisting of 100% PCR content. The new packaging range is ideal for food and beverage packaging applications.
- In June 2022, Berry Global Inc also launched a packaging container and lid pack solution made from post-consumer recycled (PCR) materials.
- In January 2021, Amcor Plc, another prominent packaging manufacturer, announced and announced plans to invest in strengthening and expanding its portfolio of sustainable and recyclable packaging products. We introduced PCR rigid packaging solutions to the market through an investment firm.
The Global PCR Plastic Packaging Market has been segmented into:
- Polyethylene Terephthalate (PET)
- Polystyrene (PS)
- High Density Polyethylene (HDPE)
- Low Density Polyethylene (LDPE)
- Polyvinyl Chloride (PVC)
- Others (PLA, PHA, etc)
- Blister Packs
- Bags & Sacks
- Pouches & Sachets
- Cups & Jars
By End Use Industry
- Cosmetics and Personal Care
- Homecare and Toiletries
- Others (Packaging for Industrial Purpose)
- Berry Global Inc (USA)
- Amcor Plc (Australia)
- Genpak, LLC (USA)
- Klöckner Pentaplast (U.K)
- BERK COMPANY (USA)
- Placon (USA)
- Coveris (U.K)
- PRETIUM PACKAGING (USA)
- Rose Plastic AG (Germany)
- Borealis AG (Austria)
- Henkel cooperation (Germany)
- many others
Overview of the regional outlook of the PCR Plastic Packaging Market:
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Reasons to Purchase this Report:
- Qualitative and quantitative analysis of the market based on segmentation involving both economic and non-economic factors;
- Provision of market value (USD Billion) data for each segment and sub-segment;
- Indicates the region and segment that is expected to witness the fastest growth and to dominate the market;
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the market's dominance by region;
- Analysis by product/service type
- Competitive landscape that includes the market ranking of the top competitors, as well as new service/product launches, collaborations, business expansions, and acquisitions of companies featured during the previous five years
- Extensive company profiles with business overview, company insights, product benchmarking, and SWOT analysis for the leading market players
- The current and future market outlook of the industry in light of recent developments (which include growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions)
- Includes an in-depth analysis of the market from multiple perspectives using Porter's five forces analysis Provides market insight across the Value Chain
- Market dynamics situation, as well as development potential for the market in the coming years
- 6-month post-sale analyst assistance
Frequently Asked Questions-
What is the CAGR of PCR Plastic Packaging Market?
The PCR Plastic Packaging Market is growing at a CAGR of 6.9% During Forecast Period.
What is the key offering of PCR Plastic Packaging Market?
Polyethylene Terephthalate (PET), Polystyrene (PS), High Density Polyethylene (HDPE), Low Density Polyethylene (LDPE), Polyvinyl Chloride (PVC), Others (PLA, PHA, etc)
What are the key applications of PCR Plastic Packaging Market?
Bottles, Trays, Clamshells, Blister Packs, Bags & Sacks, Pouches & Sachets, Cups & Jars, Tubs, Others
Who are the key players in PCR Plastic Packaging Market?
Berry Global Inc (USA), Amcor Plc (Australia), Genpak, LLC (USA), Klöckner Pentaplast (U.K), BERK COMPANY (USA), Placon (USA), Coveris (U.K), PRETIUM PACKAGING (USA), Rose Plastic AG (Germany), Borealis AG (Austria), Henkel cooperation (Germany)