PCR Plastic Packaging Market Is Expected To Register A Positive CAGR Of 6.9% By 2030

According to MRFR analysis, the global PCR Plastic Packaging Market is expected to register a CAGR of  6.9% from 2022 to 2030 and hold a value of over USD 74,745.2 million by 2030.

PCR plastic packaging stands for post-consumer recycled plastic packaging. It is a type of packaging that is made from plastic that has been recycled from consumer products, such as water bottles, food containers, and other types of packaging. PCR plastic packaging is an environmentally friendly alternative to packaging made from virgin plastic, as it helps to reduce the amount of plastic waste that ends up in landfills and reduces the overall environmental impact of plastic production. The COVID-19 pandemic has had a significant impact on the PCR plastic packaging industry. Many businesses that use PCR plastic packaging have experienced supply chain disruptions, leading to decreased production and reduced demand for the material. Despite these challenges, the demand for PCR plastic packaging is expected to recover in the long term. The use of PCR plastic packaging is seen as an important part of the circular economy, and there is growing awareness of the need to reduce the environmental impact of packaging. As a result, the use of PCR plastic packaging is likely to continue to grow in the future.

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Regional Analysis

The Asia-Pacific region is expected to emerge as the revenue-generating hub for manufacturers during the foreseeable future. Increasing awareness towards highly recyclable packaging coupled with swiftly enhancing packaging advancement in highly potential Asian countries such as China, Japan, and India is bolstering the PCR plastic packaging market growth in the region.

Market Segmentation

The Global PCR Plastic Packaging market has been segmented into material, application, and end user.

Based on the material, the market has been segmented into Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), and Others (PLA, PHA, PVC, etc)).

Based on the application, the market has been segmented into Bottles, Trays & Clamshells, Bags & Sacks, Cups & Jars, Blisters, and Others.

Based on the end user, the market has been segmented into Food & Beverages, Pharmaceuticals, Personal Care & Cosmetics, and Others.

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Key Players

Some of the key market players are Berry Global Inc, Amcor Plc, Genpak, LLC, Klöckner Pentaplast, O.BERK COMPANY, Placon, Coveris, PRETIUM PACKAGING, Rose Plastic AG, Borealis AG, Henkel cooperation.

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