PCR Plastic Packaging Companies

Global PCR Plastic Packaging Market Overview

Global PCR Plastic Packaging Market Size was valued at USD 45.8 Billion in 2022. The PCR Plastic Packaging industry is projected to grow from USD 48.96 Billion in 2023 to USD 83.49 Billion by 2032, exhibiting a growth rate or CAGR (compound annual growth rate) of 6.9% during the projected timeframe (2023 - 2032). The growing emphasis on improving the efficiency of the circular economy and companies serving as a financial bank for producers are the key market drivers contributing to market growth and expansion

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

PCR Plastic Packaging Market Trends

• Growing emphasis on improving the efficiency of the circular economy is driving market growth

The rising emphasis on improving the efficiency of the circular economy drives the market CAGR for PCR plastic packaging. Leading and medium-sized manufacturers in the global packaging sector are continually working to lower their carbon footprints and increase the quality of their range of extremely environmentally friendly but recyclable packaging solutions. Growing awareness amongst these package makers about environmentally friendly packaging strategies and activities is one of the key reasons driving the global PCR packaging market to expand. Companies are boosting their circular economy initiatives by regularly creating and introducing PCR plastic packaging solutions. Furthermore, persistent financial investment by major companies to enhance their PCR plastic packaging portfolio is considerably strengthening the market's development.

Additionally, most of the demand comes from the high-potential beverage and food drug companies. Globally, rising per capita spending on food, drinks, and pharmaceutical goods is producing substantial demand for food and non-food goods and their packaging. Production from these sectors has increased significantly in recent years and is expected to stay stable in the next years. Leading manufacturers in the global packaging market provide various solutions to meet the demand produced by various end-use sectors. Bottles, trays & clamshells, bags, cups, and blisters are common PCR packaging options in the food and beverage and pharmaceutical sectors. Manufacturers may target these high-potential end-use sectors to increase sales and profits.

The pandemic's rapid spread across countries has harmed global factories and disrupted the packaging sector and its goods supply chain. This is also true for the worldwide PCR plastic packaging industry. Stringent lockdowns across areas, insufficient raw material supply, factory shutdowns, and a sudden decline in demand creation from customers have all significantly slowed industry growth. COVID-19 caused price changes in raw materials, delaying the worldwide market's development. On the bright side, things are normalizing, which speaks well about potential market development. Furthermore, the discovery of vaccinations against the new coronavirus and the reactivation of numerous production plants worldwide would result in the worldwide.

For instance, Plastics Europe reports that, with a mandated aim of 30% recycled content in packaging by 2030, its members have planned expenditures in chemical reuse infrastructure and technology totaling Euro 2.6 billion by 2025 and Euro 7.2B by 2030 in European nations. Thus, demand for PCR Plastic Packaging is anticipated to increase throughout the projected timeframe due to the rising emphasis on improving the efficiency of the circular economy. Thus, driving the PCR Plastic Packaging market revenue.November 2023: A major food packaging company launches a new line of products made with PCR plastic. The company claims that the new packaging is just as strong and durable as traditional plastic packaging, but with a significantly lower environmental impact

PCR Plastic Packaging Market Segment Insights

PCR Plastic Packaging Material Insights

The global PCR Plastic Packaging market segmentation, based on Material, includes Polyethylene Terephthalate, Polyethylene, Polypropylene, and Others. The polyethylene terephthalate category dominated the market, accounting for 42% of market revenue (USD 19.2 Billion) in 2022. It manufactures polyethylene terephthalate. Furthermore, considering the importance of both of these divisions in flexible packaging, future demand seems promising.

Figure 1:

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

PCR Plastic Packaging Application Insights

The global PCR Plastic Packaging market segmentation, based on Applications, includes Bottles, Trays & Clamshells, Bags & Sacks, Cups & Jars, Blisters, and Others. The bottles category generated the highest market revenue of about 38% (USD 17.4 billion) in 2022. The frequent usage and demand for bottles and manufacturers' increasing tendency towards manufacturing and releasing extremely environmentally friendly packaging bottle varieties make the target segment profitable. The bottle category will account for most of the market share shortly.

PCR Plastic Packaging End-Users Insights

The global PCR Plastic Packaging market segmentation, based on End-Users, includes Food & Beverages, Pharmaceuticals, Personal Care & Cosmetics, and Others. The food & beverages category dominated the market, accounting for 46% of market revenue (USD 21.1 Billion) in 2022. The increasing production volume of the food & beverage industry worldwide and the large demand for rigid packaging drive a spectacular need for PCR plastic containers across the target area. In addition, the pharmaceutical market has the potential to grow into a revenue-generating industry for manufacturers in the approaching decade.

PCR Plastic Packaging Regional Insights

By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American PCR Plastic Packaging market is expected to grow quickly during the projected timeframe, owing to the strong presence of major PCR plastic packaging producers significantly boosting industry expansion will boost the market growth in the North American area.

Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Global PCR Plastic Packaging Market Share by Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe region’s PCR Plastic Packaging market accounts for the second-highest market share due to new product introductions in PCR plastic packaging, increasing the acceptance of PCR plastic packaging amongst end customers. Further, the German PCR Plastic Packaging market holds the largest market share, and the UK PCR Plastic Packaging market is expected to grow and expand significantly in the European region during the projected timeframe.

The Asia-Pacific PCR Plastic Packaging Market will dominate during the projected timeframe. Increasing awareness of highly recyclable packaging, along with rapid packaging technology in high-potential Asian countries, is fueling the region's market expansion. Manufacturers in the worldwide PCR market might target high-potential Asian markets to maximize financial returns. Moreover, China’s PCR Plastic Packaging market dominates the market share, and the Indian PCR Plastic Packaging market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.

PCR Plastic Packaging Key Market Players & Competitive Insights

Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the PCR Plastic Packaging market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their global footprint, with significant market developments including new Material portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The PCR Plastic Packaging industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.

Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the global PCR Plastic Packaging industry to benefit customers and capture untapped market share and revenue. The PCR Plastic Packaging industry has recently offered significant advantages to the Packaging & Transport industry. Moreover, more industry participants are utilizing and adopting cutting-edge technology has grown substantially. Major players in the PCR Plastic Packaging market, including Berry Global Inc (USA), Amcor Plc (Australia), Genpak, LLC (USA), Klöckner Pentaplast (U.K), O.BERK COMPANY (USA), Placon (USA), Coveris (U.K), PREMIUM PACKAGING (USA), Rose Plastic AG (Germany), Borealis AG (Austria), Henkel cooperation (Germany) are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.

Amcor is a global pioneer in developing and producing environmentally friendly packaging for beverages, food, pharmaceutical, healthcare, household and personal care, and other products. Amcor Plc, another important packaging maker, revealed and publicized its investment intentions in January 2021 to improve and grow its sustainable but recyclable packaging product line. It has brought PCR rigid packaging options to the market through its investment firm.

Berry Global Group is a producer and vendor of flexible and nonwoven specialty and engineered materials. It is a prominent packaging company that announced the launch of its new BCircular line, which contains 100% PCR. The new packaging line is suited for food and beverage packaging and liquor packaging. They also introduced PCR-based packing boxes and lid pack alternatives.

Key Companies in the PCR Plastic Packaging market include

• Berry Global Inc (USA)


• 
  Amcor Plc (Australia)


• Genpak, LLC (USA)


• Klöckner Pentaplast (U.K)


• BERK COMPANY (USA)


• Placon (USA)


• Coveris (U.K)


• PREMIUM PACKAGING (USA)


• 
  Rose Plastic AG (Germany)


• Borealis AG (Austria)


• Henkel cooperation (Germany)

PCR Plastic Packaging Industry Developments

August 2022: Mondi worked with Essity and Dow to develop innovative, reusable additional packaging for Essity's feminine care products, utilizing materials that are renewable and post-consumer content that is recycled to decrease the need for fossil-based materials. Mondi conducted extensive research and testing, which resulted in the proposal of a new solution that corresponds with Essity's packaging goals of working beyond 100% recycling and using up to 85% biomass, renewable, or recycled content in all bags, with up to 25% plastics that have been recycled.

January 2022: Berry Global Inc., a prominent packaging company, announced the launch of its new BCircular line, which contains 100% PCR. The new packaging line is suited for food and beverage packaging and liquor packaging. They also introduced PCR-based packing boxes and lid pack alternatives.

January 2021: Amcor Plc, another important packaging maker, revealed and publicized its investment intentions in January 2021 to improve and grow its sustainable but recyclable packaging product line. It has brought PCR rigid packaging options to the market through its investment firm.

PCR Plastic Packaging Market Segmentation

PCR Plastic Packaging Type Outlook

• Polyethylene Terephthalate


• Polyethylene


• Polypropylene


• Others

PCR Plastic Packaging Application Outlook

• Bottles


• Trays & Clamshells


• Bags & Sacks


• Cups & Jars


• Blisters


• Others

PCR Plastic Packaging End-Users Outlook

• Food & Beverages


• Pharmaceuticals


• Personal Care & Cosmetics


• Others

PCR Plastic Packaging Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America