Global demand for plastic recycled packaging is set to increase 10% to $162bn (€112.5bn), according to a new report from Freedonia.
Plastics will account for 10.6% of recycled packaging in 2020, up from 6.9% in 2010 and 8.5 % in 2015, says the group.
The findings are part of the ‘World Green Packaging’ report, which says that demand for recycled plastic packaging will be fuelled by greater processing volumes of recycled material and increased collection activity.
“Robust gains for plastic will also be the result of upward momentum from a much smaller base compared to paper and metal packaging, since recycling rates for plastic containers are much lower than those of corrugated boxes, and aluminium and steel cans,” says the report.
By 2020, the total market for plastic recycled packaging will be worth $26bn (€18.1bn). The largest market in terms of region will be Asia Pacific ($10.7bn), followed by the US ($4.6bn) and western Europe ($6bn).
Bottles will continue to account for the majority of recycled content plastic packaging because of well developed infrastructures for PET and HDPE. Increased recycling activity is also expected in other segments, such as thermoformed containers and protective packaging.
Recycled packaging demand to grow 10%