Future Market Insights
Packaging products made of eco-friendly material are gaining popularity as market players are adapting to sustainable packaging methods. Products and materials sold in the consumer markets, which have served their intended purpose or completed their life cycle are sent to material recovery facilities (MRF’s). Packaging products made of plastic materials recovered from MRFs contribute to the category of post-consumer recycled plastic packaging. One of the prominent material which is being recycled is the PET (polyethylene terephthalate) plastic. PET plastic is the most widely used and accepted plastic, as it is quite easy to recycle and can be recycled more than once, thus promoting the post-consumer recycled plastic packaging market. Recycled products have many environmental benefits and are being preferred by the manufacturers adopting sustainable principles. The increased demand for packaging products produced using recycled content has also propelled the post-consumer recycled plastic packaging market.
Post-Consumer Recycled Plastic Packaging Market- Market Dynamics:
A major factor supporting the growth of post-consumer recycled plastic packaging market is the improved material sorting infrastructure across many significant regions like U.S., Canada and Western Europe. The global market for post-consumer recycled plastic packaging is witnessing the incorporation of new material processing technologies for manufacturing of post-consumer recycled products and materials. Light weight nature of recycled plastic is another factor fuelling the growth of post-consumer recycled plastic packaging market. The growth of post-consumer recycled plastic packaging market is propelled by certain properties of recycled plastic such as strength and crack-resistance. Another prominent factor promoting the growth of post-consumer recycled plastic packaging market is the environmental friendly property of the plastic. However, the shortfall in supply has restricted the growth prospects for post-consumer recycled plastic packaging market. FDA regulations applicable to packaging of food products across geographic regions are a matter of concern for market players operating in the global post-consumer recycled plastic packaging market.
Manufacturers are identifying new infrastructure for segregating and collecting mixed plastics at the recovery facilities in order to implement appropriate sorting mechanism. Effectiveness of the selection process plays a vital role in the amount of materials recovered in these facilities.
Post-Consumer Recycled Plastic Packaging Market- Market Segmentation:
The post-consumer recycled plastic packaging market can be segmented on the basis of product type, material type, process type and end use. On the basis of product type, the post-consumer recycled plastic packaging market can be segmented into bottles, cups, containers (jars and tubs), bags, clamshells and blister packs. Mostly all the recycled plastic packaging products are thermoformed and the FDA approved products are even safe for direct food contact. On the basis of material type, the post-consumer recycled plastic packaging market can be segmented into PET (polyethylene terephthalate), HDPE (high density polyethylene) and PP (polypropylene). PET plastic is expected to be the major contributor due to its abundance availability and ease in processing technology. On the basis of process type, the post-consumer recycled plastic packaging market can be segmented into mechanical (melting and refining) process and chemical process. On the basis of end use, the post-consumer recycled plastic packaging market can be segmented into beverage (bottle and dairy products), electronics, home care, pharmaceuticals, and personal care.
Post-Consumer Recycled Plastic Packaging Market- Regional Outlook:
Geographically, the post-consumer recycled plastic packaging market is segmented into five key regions: North America, Asia Pacific, Europe, Latin America and Middle East and Africa (MEA). North America is the leading manufacturer of post-consumer recycled plastic packaging market as U.S. and Canada have taken major steps to initiate material sorting infrastructures in the regions and is anticipated to witness a healthy growth. Asia-Pacific is expected to witness a significant growth over the forecast period driven by the developments in China and India.
Post-Consumer Recycled Plastic Packaging Market- Key Players:
Some of the key players of post-consumer recycled plastic packaging market are Placon Corporation Inc., Seventh Generation Inc., Amcor Rigid Plastics USA Inc., Genpak, LLC, Papier-Mettler, Inhaber Michael Mettler e.K., Tray-Pak Corporation, Alpha Packaging, Inc., and Eco-Products, Inc.
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