Global Food Grade Recycled PET Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Food Grade Recycled PET Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Food grade means that the material is either safe for human consumption or it is okay to come into direct contact with food products. Food Grade rPET is recycled PET (polyethylene terephthalate) plastic that is used to make food grade packaging, such as plastic bottles and food containers.

After the original PET containers are used by consumers, they are returned via a recycling program to a facility that sorts, cleans, and transforms the plastic into rPET flakes or pellets. The rPET flakes/pellets can then be reused to make new products. Converting postconsumer PET into a valuable resource helps the environment because rPET has a lower carbon footprint than virgin PET.

Market Overview:

The latest research study on the global Food Grade Recycled PET market finds that the global Food Grade Recycled PET market reached a value of USD 3899.13 million in 2022. It’s expected that the market will achieve USD 8385.85 million by 2028, exhibiting a CAGR of 13.61% during the forecast period.

Market Opportunities and Drivers

Environmental protection needs and policy support Regulations are stepping up worldwide to oblige brands to commit to using recycled, sustainable content in their products and packaging materials. The European bottled water sector promises to ensure that by 2025, 90% of all PET bottles will be collected in the EU. The plan will ensure the continuous supply of rPET, and its goal is to ensure that the production of new bottles contains at least 25% of rPET in the same year. In 2017, for environmental and health reasons, China decided to ban the import of 24 types of solid waste, including some types of plastics, paper and textiles. This has had an important impact on the global waste recycling industry.
Plastic recycling and realizable problems have become the focus of attention. Landfill or incineration is a widely used treatment method at present, but these solutions have a great negative impact on the environment. Using rPET instead of original PET can reduce energy consumption, environmental impact and cost. With the continuous growth of plastic production and use, companies and countries are committed to promoting circular economy mode and improving plastic recovery rate. More and more brands are seeking their own supply chain to purchase rPET. With the demand of environmental protection and the promotion of government policies, rPET industry is welcoming new development opportunities.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Zhejiang Zhengkai is one of the major players operating in the Food Grade Recycled PET market, holding a share of 13.58% in 2021.

On March 25th, Chongqing Wankai Phase I project with an annual output of 600,000 tons of food-grade PET polymer new materials was put into production. According to the plan, Zhejiang Zhengkaii Group will build a single set of food-grade PET polymer production base with the largest production capacity in the world. Chongqing's annual output of 1.2 million tons of new food-grade polymer materials project is a national strategic opportunity for Zhengkai Group to actively respond to the national call, fully grasp the national western development, jointly build the the belt and road initiative and promote the green development of the Yangtze River Economic Belt. After putting into production, it will effectively make up for the capacity gap in the western food-grade PET polymer new material market, and drive the linkage development of upstream and downstream industries, open up the local petrochemical industry chain and form a new industrial cluster.

Indorama Ventures Public Company Limited (IVL), a global chemical producer, has today completed its acquisition of Huntsman’s world-class integrated oxides and derivative businesses, including a large flagship site on the US Gulf Coast (USGC) at Port Neches, as well as Chocolate Bayou and Dayton in Texas, Ankleshwar in India, and Botany in Australia.

Segmentation Overview:

Among different product types, Food-grade Pellets segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Bottles segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Food Grade Recycled PET market covered in Chapter 3:

Verdeco Recycling
Kyoei Industry
Veolia
Evergreen
Visy
Guolong Plastic
Zhejiang Zhengkaii
FP Corporation
4PET Recycling
Greentech
PetStar
Clean Tech (Plastipak)
Alpek
Indorama Ventures
PolyQuest
Extrupet
Far Eastern New Century (FENC)

In Chapter 4 and Chapter 14.2, on the basis of types, the Food Grade Recycled PET market from 2018 to 2029 is primarily split into:

Food-grade Pellets
Food-grade Sheets
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Food Grade Recycled PET market from 2018 to 2029 covers:

Bottles
Trays
Film
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)