(EMAILWIRE.COM, July 26, 2023 ) The report "Recycled PET Market by Type (Flakes, Chips), Grade (Grade A, Grade B), Source (Bottles & Containers, Films & sheets), Application ( Bottles, fiber, Sheets, Strapping), Color (Clear, Colored), & Region (APAC, NA, Europe, MEA, SA) - Global Forecast to 2028", The global recycled PET market size is projected to reach USD 15.0 billion by 2028, at a CAGR of 6.5% from 2023 to 2028. The global recycled PET market size is expected to grow from USD 11.0 billion in 2023 to USD 15.0 billion by 2028, at a CAGR of 6.5% during the forecast period. The increasing global demand for sustainable and environmentally friendly packaging solutions is a major driving factor for the recycled PET market. Consumers are increasingly aware of the environmental impact of plastic waste and are actively seeking more eco-friendly alternatives. This heightened consumer demand, coupled with corporate sustainability initiatives, has pushed businesses to adopt recycled PET as a viable solution.

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=248965407

Browse in-depth TOC on "Recycled PET Market”

529 - Market Data Tables

46 - Figures

313 - Pages

Bottles are expected to be the biggest and fastest-growing application in the Recycled PET market during the forecast period.

The demand for rPET in the bottle market has experienced significant growth due to various factors. One of the primary reasons for this is the increasing consumer awareness and preference for sustainable packaging solutions. Consumers are seeking alternatives to traditional plastic bottles, and rPET offers a more environmentally friendly option. Many brands and manufacturers have responded to this consumer demand by incorporating rPET into their bottle packaging.

Additionally, government regulations and initiatives have played a crucial role in driving the adoption of rPET bottles. Many countries have implemented regulations that promote the use of recycled materials in packaging, including minimum rPET content requirements. This has further accelerated the growth of the rPET bottle market.

Bottles and Containers are supposed to be the biggest and fastest-growing application in the Recycled PET market by source during the forecast period.

The market for recycled PET (rPET) derived from bottles and containers is recognized as both the fastest-growing and largest segment in the industry. This can be attributed to several factors. Firstly, bottles and containers are widely used in various sectors, including the food and beverage industry, personal care products, household goods, and more. The demand for sustainable packaging solutions in these industries has been rapidly increasing as consumers prioritize eco-friendly options. As a result, the use of rPET in bottles and containers has gained significant traction, driving its market growth.

Furthermore, the technological advancements in recycling processes have significantly improved the quality and consistency of rPET derived from bottles and containers. These advancements ensure that rPET meets the necessary standards for food-grade packaging, boosting its acceptance and adoption by brand owners and manufacturers.

Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=248965407

The combination of increasing consumer demand for sustainable packaging, supportive government regulations, and advancements in recycling technologies has propelled the bottles and containers segment to become the fastest-growing and largest market for rPET. This trend is expected to continue as the importance of sustainability and circular economy practices continues to grow.

Asia Pacific is estimated to hold the largest market share in the global recycled PET market during the forecast period.

The Asia Pacific (APAC) region has emerged as one of the largest and fastest-growing markets for recycled PET (rPET). The region's substantial population, rapid economic growth, and increasing awareness of sustainability have fueled the significant demand for rPET in APAC. The region's economic expansion and urbanization have resulted in a rising middle-class population and increased consumption of packaged goods, driving the demand for packaging materials like rPET bottles in various sectors such as food and beverages, personal care, and household products. Additionally, the growing focus on environmental consciousness and sustainability has further stimulated the adoption of rPET in APAC, as consumers and businesses seek more eco-friendly packaging solutions.

Indorama Ventures Public Limited (Thailand), Biffa (UK), Far Eastern New Century Corporation (Taiwan), Plastipak Holdings Inc (US), Alpek (Mexico), among others. are the leading recycled PET manufacturers, globally.

Don't miss out on business opportunities in Recycled PET Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=248965407

Indorama Ventures is a leading global chemical company that is actively involved in the production of recycled PET products. The company has made significant strides in the recycled PET market and has implemented various strategies to promote sustainability and circular economy practices. Indorama Ventures focuses on the collection and recycling of PET bottles to produce high-quality recycled PET resins. These resins are then used in a wide range of applications, including packaging, textiles, automotive, and more. By leveraging their expertise and innovative technologies, Indorama Ventures contributes to reducing plastic waste and environmental impact while meeting the growing demand for sustainable packaging solutions. The company's commitment to promoting recycled PET products aligns with its vision of creating a more sustainable and resource-efficient future. It is present in Europe, North America, South America, APAC, and Africa.

Biffa is the second-largest player in the recycled PET market, globally. Biffa is a prominent waste management company in the United Kingdom that plays a significant role in the recycling and production of recycled PET products. The company operates advanced recycling facilities that focus on processing and transforming PET bottles into high-quality recycled PET materials. Biffa's expertise lies in efficiently collecting, sorting, and reprocessing plastic waste to produce recycled PET resins. These resins are utilized in various applications, including packaging, textiles, and other industries. By emphasizing the circular economy and promoting the use of recycled PET products, Biffa contributes to reducing plastic waste and minimizing the environmental impact associated with plastic consumption. Through their commitment to sustainable waste management practices, Biffa aims to drive positive change in the recycling industry and foster a more environmentally conscious approach to plastic utilization.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com