The PCR Plastic Packaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s PCR Plastic Packaging Global Market Report 2024, 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 growth in the forecast period can be attributed to global plastic reduction targets, rising consumer demand for sustainable packaging, increased corporate sustainability goals, expansion of circular economy initiatives, and integration of recycled materials in branding. Major trends in the forecast period include increased use in luxury packaging, customization and brand personalization, advanced smart packaging with PCR components, regenerative packaging models, and bio-based PCR plastics.
Growing e-commerce activities are expected to propel the growth of the PCR plastic packaging market. E-commerce activities encompass online buying and selling, digital payments, and diverse transaction models, revolutionizing commerce through the Internet. PCR plastic is frequently employed in e-commerce shipping, such as mailers, bubble wrap, and protective packaging, striking a balance between durability and environmental responsibility, thereby diminishing dependence on virgin plastics. For instance, in November 2023, according to a report published by the U.S. Census Bureau, a division of the United States Department of Commerce, in the third quarter of 2023, retail e-commerce sales in the United States amounted to approximately $284.1 billion, reflecting a growth of 2.3% compared to the second quarter of 2023. Therefore, the rapid growth in e-commerce activities will drive the growth of the PCR plastic packaging market.
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The pcr plastic packaging market covered in this report is segmented –
1) By Material: Polyethylene Terephthalate (PET), Polystyrene (PS), High Density Polyethylene (HDPE), Low Density Polyethylene (LDPE), Polyvinyl Chloride (PVC), Other Materials
2) By Packaging Type: Pouches, Rollstock, Bags, Films And Wraps, Other Packaging Types
3) By End Use Industry: Food, Beverages, Pharmaceuticals, Cosmetics And Personal Care, Homecare And Toiletries, Electronics, Other End Use Industries
Major companies operating in the PCR plastic packaging market are focusing on innovative product development and sustainable branding, such as 100% PCR bottles, to advance environmental sustainability by utilizing postconsumer recycled materials in packaging solutions. 100 percent PCR bottles are packaging containers made entirely from postconsumer recycled plastic, reflecting a commitment to environmental sustainability and circular economy practices. For instance, in November 2023, Berry Global Group, Inc., a US-based manufacturer of plastic packaging products, introduced a line of reusable bottles crafted entirely from post-consumer recycled plastic (PCR) for The Bio-D Co., a UK-based environmentally conscious cleaning company. The available sizes include 25-ounce, 33-ounce, and 1.3-gallon options for Bio-D’s range of liquid products, such as laundry detergent, fabric conditioner, dishwasher rinse aid, dish soap, and home and garden cleaner. Bio-D, committed to providing naturally derived alternatives to toxic chemicals for safe and eco-friendly cleaning, plans to distribute these PCR bottles, which can be refilled at over 300 refill stores nationwide. The end-of-life bottles are now recyclable, contributing to a reduction of 14.3 tons of annual CO2 emissions compared to using virgin plastic.
The pcr plastic packaging market report table of contents includes:
- Executive Summary
- PCR Plastic Packaging Market Characteristics
- PCR Plastic Packaging Market Trends And Strategies
- PCR Plastic Packaging Market – Macro Economic Scenario
- Global PCR Plastic Packaging Market Size and Growth
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- Global PCR Plastic Packaging Market Competitive Benchmarking
- Global PCR Plastic Packaging Market Competitive Dashboard
- Key Mergers And Acquisitions In PCR Plastic Packaging Market
- PCR Plastic Packaging Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Amcor Limited
- Berry Global Group Inc.
- Mondi Group
- DS Smith Plc
- Sonoco Products Company
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