The Recycled Plastics Market is to Touch $114.6 Billion by 2030; increased demand for sustainable materials and growing environmental regulations propel market growth.

The Recycled Plastics Market size is estimated to reach $114.6 billion by 2030, growing at a CAGR of 7% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Recycled Plastics Market – By Type (Polyethylene Terephthalate, Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene, Others), By Source (Bottles, Films, Fibers, Foams, Others), By End-User (Packaging, Building & Construction, Textile, Automotive, Electrical & Electronics, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Rising consumer awareness and advancements in recycling technologies are fueling the growth of the Recycled Plastics industry during the forecast period.

In 2023, the Asia-Pacific (APAC) region solidified its leadership in the Recycled Plastics market, driven by rapid industrialization, urbanization, and heightened environmental awareness across key countries like China, India, and Japan. For instance, according to a 2023 Rakuten Insight Global survey of over 109,000 APAC consumers, 44.9% prioritize sustainably made/packaged or environmentally friendly products, up from 43.3% in 2022. The region's dominance is attributed to its large-scale plastic consumption and the increasing adoption of sustainable practices by both businesses and governments. With stringent regulations to curb plastic waste and growing investments in recycling infrastructure, APAC has become a hub for recycled plastics. Additionally, the rising demand for recycled plastics in sectors such as packaging, automotive, and construction further supports the region's leading position in the global market. 

The surge in mobile applications and online shopping has led to unprecedented growth in the e-commerce sector, creating significant opportunities for the Recycled Plastics market. With billions of consumers making purchases online, the demand for plastic packaging, particularly recycled plastics, has soared. The necessity to transport goods sustainably and regulatory requirements have pushed e-commerce companies to adopt eco-friendly packaging solutions, fueling market expansion. For instance, according to the EU's Packaging and Packaging Waste Regulation, by 2030, the plastic used in e-commerce packaging must contain at least 35% recycled plastic content. As the e-commerce sector continues to grow, the use of recycled plastics is expected to rise, driven by the industry's commitment to reducing its environmental footprint and meeting consumer expectations for sustainable practices.

The flexible packaging segment is emerging as a significant driver of growth in the Recycled Plastics market. According to the Flexible Packaging Association (FPA), the U.S. industry alone generated $34.3 billion in revenue in 2022, with a substantial portion coming from plastic-based packaging. This trend is not limited to the U.S.; other regions are also experiencing a similar rise in demand for flexible packaging. The versatility, cost-effectiveness, and environmental benefits of flexible packaging are attracting more manufacturers to incorporate recycled plastics into their products. As this segment continues to expand globally, it presents lucrative opportunities for market participants in the Recycled Plastics industry.