The Recycled PET Market was valued at approximately USD 10 Billion in 2023 and is expected to grow at a robust CAGR of around 6.5% during the forecast period (2024-2032).

This can be ascribed to the increasing government and companies’ initiatives to increase the use of secondary plastic. Moreover, growing awareness among the consumer regarding the environmental effect of discarding the plastic waste is promoting the adoption of sustainable products, thereby aiding in the growth of the Recycled PET market. 

According to Organisation for Economic

Co-operation and Development, the global production of secondary plastics from

recycling has more than quadrupled in the last two decades, still, they are only 6%

of the total plastic feedstock. However, among

this 6%, the

contribution of recycled PET is among the largest. Owing to its thermoplastic

nature, it can be melted and reformed into a wide range of products, without

significantly losing its properties. Even though many of the popularly used

plastics are also thermoplastics, and hence are recyclable, PET remains one of the most

widely recycled plastics worldwide. However, to increase the recycled plastic including the PET market there is an

increasing need for more favorable policies like combining push and pull

policies. Some countries have successfully strengthened their

markets by “pushing” secondary plastics supply – for example, through extended

producer responsibility schemes – as well as “pulling” demand via recycled

content targets. For instance, the recent decoupling of prices for primary

and secondary PET in Europe and increasing innovation in recycling technologies

are positive signs that the combination of these policies is working. 

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Based on the source, the market is categorized into bottles &

containers, films & sheets, and others. Among these, bottles &

containers captured a dominating position in the market owing to the wide usage

of PET-based packaging materials in the food & beverage and non-food

industries. This can be attributed to the fact that it is food safe, strong,

lightweight, transparent, shatter-resistant, and provides additional properties like

desired barrier properties. Moreover, from the consumer perspective, PET

packaging offers convenience, lightweight, and shatter-resistant (when compared

to glass, ceramic and such options) thus making it a

popular choice among consumers as well. Therefore, due to its high demand in packaging

applications such as bottles & containers, it is working as a major source of recycled PET. 

Based on application, the market is categorized into fibers, sheets

& film, strapping, bottles & containers, and others. As countries are taking various steps to allow the use of

recycled PET in food & beverage categories, the demand for recycled bottles

& containers is likely to showcase robust growth during the forecast period. For instance, In India, the Food Safety and Standards

Authority of India (FSSAI) amended the Food Safety and Standards (Packaging)

Regulations 2018, allowing for the use of recycled plastics in food contact

materials (FCM) with certain restrictions. With this regulation, recycled PET

is allowed to use in food contact

material. 

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For a better understanding of the market adoption of recycled PET, the

market is analyzed based on its worldwide presence in the countries such as

North America (United States, Canada, Rest of North America), Europe (Germany,

UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan,

India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted

for a significant share of the market and is expected to showcase substantial growth

during the forecast period owing to the high consumption of PET-based products

in the regional country and high recycling rates in countries like China,

India, and Japan. Further, several western countries dump their PET waste in

the regional countries for recycling purposes, thereby propelling the recycled

PET market in the region. 

Global Recycled PET Market Segmentation 

Market Insight, by Source 

Bottles & Containers 

Films & Sheets 

Others 

Market Insight, by Application 

Fiber 

Sheet & Film 

Strapping 

Bottles & Containers  

Others 

Market Insight, by Region          

North America Recycled PET Market 

United States

Canada                 

Europe Recycled PET Market 

Germany 

United Kingdom 

France 

Spain 

Italy      

Rest of Europe              

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