Post-Consumer Recycled Plastics Market by Plastic Type (High-Density Polyethylene, Low-Density Polyethylene, Polyethylene Terephthalate), Recycling Process (Biological Recycling, Chemical Recycling, Mechanical Recycling), Application - Global Forecast 202

Post-Consumer Recycled Plastics Market by Plastic Type (High-Density Polyethylene, Low-Density Polyethylene, Polyethylene Terephthalate), Recycling Process (Biological Recycling, Chemical Recycling, Mechanical Recycling), Application - Global Forecast 2024-2030

The Post-Consumer Recycled Plastics Market size was estimated at USD 65.97 billion in 2023 and expected to reach USD 70.93 billion in 2024, at a CAGR 7.98% to reach USD 112.99 billion by 2030.

Post-consumer recycled packaging refers to reprocessed material made from sources that consumers recycle on a daily basis, which includes items such as aluminum, cardboard, paper, and plastics. As major brands are increasing their efforts to propel sustainability, PCR packaging is gaining traction. These materials are widely used in the packaging of goods, including coffee, pharmaceuticals, pet products, baked goods, snacks, and sports nutrition. Flat pouches, rollstocks, and stand-up pouches are some common examples of products of PCR packaging. Growing consumer and manufacturer awareness about diverse recycling practices and the environmental significance of recycling has propelled the demand for sustainable PCR packaging materials. The burgeoning food and pharmaceutical industry has necessitated rampant production of plastics for efficient and eco-friendly packaging of products made by these industries. However, manufacturing and technical complications associated with the production of post-consumer recycled plastics and packaging design complexity pose significant issues for manufacturers. Additionally, stringent regulations regarding recovery, recycling, and thickness of recycled bags and packaging dissuade investments in the sector. Government initiatives to promote recycling activities can overcome concerns raised by regulatory challenges. Efforts by major manufacturers to invest in the utilization of AI for waste management and the development of recycled plastics have significantly expanded the scope of the industry and enhanced the efficiency of recycling processes.

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