Overview and Scope
PCR plastic packaging refers to packaging materials made from post-consumer recycled (PCR) plastics derived from recycled plastic products that have been used and disposed of by consumers. PCR plastics in packaging help reduce the demand for virgin plastic production and contribute to a more sustainable and environmentally friendly approach to packaging.
Sizing and Forecast
The PCR plastic packaging market size has grown strongly in recent years. It will grow from $48.50 billion in 2023 to $51.80 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to early environmental awareness, emergence of recycling infrastructure , government regulations on recycling, consumer recycling programs, and industry commitments to sustainability.
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Segmentation & Regional Insights
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
Europe was the largest region in the PCR plastic packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pcr plastic packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the pcr plastic packaging market report are Amcor Limited, Berry Global Group Inc., Mondi Group, DS Smith Plc, Sonoco Products Company, Silgan Holdings Inc., Silgan Dispensing Systems, Pactiv Evergeen Inc., Sealed Air Corporation, Huhtamäki Oyj, Inteplast Group, Plastipak Holdings Inc., LPLA Group, Constantia Flexibles Group GmbH, INDEVCO, Printpack Inc., Coveris Holdings S.A., Charter Next Generation Inc., ProAmpac Holdings Inc., Winpak Ltd., Greif Inc., Alpha Packaging Holdings Inc., NEX Films, Genpak LLC, Envision Plastics, Palcon Corporation, Spectra Packaging Solutions Ltd. , Reflex Packaging Inc. , Kelly Green Products, Mills River
The pcr plastic packaging market report table of contents includes:
1. Executive Summary
2. PCR Plastic Packaging Market Characteristics
3. PCR Plastic Packaging Market Trends And Strategies
4. PCR Plastic Packaging Market – Macro Economic Scenario
5. Global PCR Plastic Packaging Market Size and Growth
…
32. Global PCR Plastic Packaging Market Competitive Benchmarking
33. Global PCR Plastic Packaging Market Competitive Dashboard
34. Key Mergers And Acquisitions In The PCR Plastic Packaging Market
35.PCR Plastic Packaging Market Future Outlook and Potential Analysis
36. Appendix
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