The Global Food-Grade Recycled Plastics market is forecast to reach USD 40.58 Billion by 2027, according to a new report by Reports and Data. In recent years, recycled plastics can be seen to become highly significant and relevant. The rising awareness about plastic disposal in landfills and the formulation of relevant policies are some of the mentionable factors fostering the market growth. Increasing emphasis on manufacturing materials and methods associated with recycled plastics is also acting in favor of the growth of the sector. Various start-ups are making an effort to penetrate the market by developing innovative ways of recycling plastics. As an instance, the Cat-HTR, a start-up in Australia, has developed the Cat-HTR, a unique hydrothermal upgrading platform that can economically and quickly transform waste plastic, industry residues, and various biomass into a biocrude or synthetic oil for producing sustainable chemicals and fuels. Such developments by start-up companies would result in enriching the market.
Some of the key players operating in the Food-Grade Recycled Plastics market are Becton, Dickinson and Company, Abbott Laboratories, Bio-Rad Laboratories, Suez, Veolia, Jayplas, KW Plastics, B&B Plastics, B. Schoenberg & Co., Clear Path Recycling, Green Line Polymers, Nestlé and Plastipak Holdings., and others.
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Furthermore, the report also covers a thorough analysis of the key factors influencing the market growth. The report considers the COVID-19 pandemic as one of the major factors affecting the expansion of the market. The pandemic has affected the market directly by disrupting the global supply chains, halting the manufacturing and production processes, and altering the economic landscape of the market. The report also offers a current and future assessment of the impact of the pandemic on the Food-Grade Recycled Plastics market.
Further key findings from the report suggest
- In context to Type, the High-density polyethylene segment is projected to witness a considerable growth rate of 6.5% during the forecast period. The growth rate witnessed by this segment is attributed to its benefits like lightweight and strength, which results in its high preference and popularity among end-users. The fact that it is approved by the FDA for food contact also results in its elevating preference for this type of recycled plastic.
- In regards to Source, the Bottle segment is held the largest market share of more than 60.0% of the market in 2019, which is projected to maintain market dominance. The ease of collection, availability of bottles, particularly PET bottles and the fact that it can be easily sorted results in its elevated preference among manufacturers, contributing to the market share held by this segment.
- In regards to End-use, the Clear tough plastic segment occupied the largest market share in 2019. The high demand for this type of plastic because of its wide arena of applications like in water bottles, juice, and soft drink bottles that are commonly bought beverage products, would result in high demand for this type of recycled plastic for manufacturing this Clear tough plastic.
- In context to Application, the Packaging segment held more than 70.0% in 2019. The continuous growth of the packaging product manufacturing in regards to their production capacity and infrastructure would result in extensive use of this type of recycled plastic in for packaging purposes.
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Polyethylene Terephthalate
- Polypropylene
- High-density polyethylene
- Polystyrene
- Polyvinyl Chloride
- Polyethylene
- Others
Source Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Bottles
- Films
- Others
End-use Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Clear tough plastic
- White/Colored plastic
- Soft flexible plastic
- Hard/flexible plastic
- Rigid brittle plastic
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Packaging
- Films & sheets
- Others
The report covers all the investment opportunities, market dynamics, threats, opportunities, challenges, restraining factors, and technological advancements in the global Food-Grade Recycled Plastics market. The report covers key regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report provides extensive details about the production and consumption pattern, supply and demand ratio, sales, market share and size, and the existence of the key players in each region. The report also offers an estimation regarding the key regions expected to demonstrate a significant growth rate over the coming years.
The regional analysis covers the following regions of the key geographies of the Food-Grade Recycled Plastics market:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Global Food-Grade Recycled Plastics Market: Table of Contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Food-Grade Recycled Plastics Market Segmentation & Impact Analysis
Continued……….
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