According to a new report by Reports and Data, it is projected that the global food-grade recycled plastics market will reach USD 40.58 billion by 2027. In recent years, recycled plastics have gained significant importance due to increasing awareness about plastic disposal in landfills and the implementation of relevant policies. The market is being driven by the growing emphasis on manufacturing materials and methods associated with recycled plastics, as well as innovative recycling solutions developed by start-up companies.
However, the COVID-19 pandemic has had a negative impact on the market. One major impact is the difficulty in collecting raw materials due to staff shortages, resulting in delayed manufacturing of recycled plastics. Additionally, fire incidents in paper, waste, and plastic facilities have caused disruptions and shutdowns, further affecting market players. The pandemic has also caused delays in pickups for recycling and reduced charitable donations, leading to resource scarcity and potential market decline. Nevertheless, the outbreak has also created new opportunities for the application of food-grade recycled plastics, especially in food packaging for enhanced protection and increased shelf life.
Get a sample copy of the food-grade recycled plastics market report: https://www.reportsanddata.com/download-free-sample/2962
Key findings from the report include:
- The high-density polyethylene segment is expected to grow significantly at a rate of 6.5% during the forecast period. Its lightweight, strength, and FDA approval for food contact contribute to its popularity among end-users.
- The bottle segment holds the largest market share, with more than 60.0% in 2019. The ease of collection, availability, and ease of sorting make bottles, especially PET bottles, preferred by manufacturers.
- The clear tough plastic segment dominates the market in terms of end-use, driven by high demand in applications such as water bottles, juice, and soft drink bottles.
- Packaging is the largest application segment, accounting for over 70.0% of the market in 2019, supported by the continuous growth of packaging production capacity and infrastructure.
- Major companies involved in the food-grade recycled plastics market include Becton, Dickinson and Company, Abbott Laboratories, Bio-Rad Laboratories, Suez, Veolia, Jayplas, KW Plastics, BB Plastics, B. Schoenberg Co., Clear Path Recycling, Green Line Polymers, Nestlé, and Plastipak Holdings.
The report also highlights deals and partnerships in the industry. For example, Nestlé has committed to investing CHF 2 billion, focusing on the shift to food-grade recycled plastics. Veolia has expanded its plastic recycling capacity through acquisitions, including a plant in East London.
The market segmentation of food-grade recycled plastics, as provided by Reports and Data, includes:
Type:
- Polyethylene Terephthalate
- Polypropylene
- High-density polyethylene
- Polystyrene
- Polyvinyl Chloride
- Polyethylene
- Others
Source:
- Bottles
- Films
- Others
End-use:
- Clear tough plastic
- White/Colored plastic
- Soft flexible plastic
- Hard/flexible plastic
- Rigid brittle plastic
- Others
Application:
- Packaging
- Films sheets
- Others
Regional Outlook:
- North America (U.S)
- Europe (U.K, France)
- Asia Pacific (China, India, Japan)
- MEA
- Latin America (Brazil)
Food-Grade Recycled Plastics Market: Drive factors
Factors Driving the Food-Grade Recycled Plastics Market:
- Increasing Awareness of Plastic Disposal: Growing awareness about the environmental impact of plastic waste and the need for sustainable waste management practices has led to a surge in demand for food-grade recycled plastics. Consumers and governments are actively seeking solutions to reduce plastic waste and promote recycling.
- Policy Formulation: The formulation and implementation of policies and regulations related to plastic waste management have played a significant role in driving the food-grade recycled plastics market. Governments worldwide are introducing measures to promote recycling, such as setting recycling targets, implementing extended producer responsibility (EPR) programs, and imposing restrictions on single-use plastics.
- Shift towards Circular Economy: The transition towards a circular economy, which focuses on reducing waste generation and maximizing resource utilization, has propelled the demand for food-grade recycled plastics. Companies are increasingly adopting circular economy principles by integrating recycled materials into their production processes and supply chains.
- Environmental and Health Concerns: Growing concerns about the environmental impact and potential health risks associated with conventional plastics have prompted consumers to seek safer and more sustainable alternatives. Food-grade recycled plastics offer a solution that addresses these concerns by providing a reliable source of packaging materials that meet regulatory requirements for food contact.
Overall, the food-grade recycled plastics market is driven by a combination of environmental awareness, regulatory measures, technological advancements, and shifting consumer preferences towards sustainable packaging solutions. These factors are expected to continue supporting the growth of the market in the foreseeable future.
Explore Trending Reports:
Retort Packaging Market: https://www.reportsanddata.com/report-detail/retort-packaging-market
Downhole Tools Market: https://www.reportsanddata.com/report-detail/downhole-tools-market
Cellulose Esters Market: https://www.reportsanddata.com/report-detail/cellulose-esters-market
Request a customization of the report: https://www.reportsanddata.com/request-customization-form/2962
Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact:
John W, Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
LinkedIn | Twitter | Blogs
