PUBLISHER: Grand View Research | PRODUCT CODE: 1512013
PUBLISHER: Grand View Research | PRODUCT CODE: 1512013
The North America post-consumer recycled plastics in food packaging market size is anticipated to reach USD 759.22 million by 2030, growing at a CAGR of 11.5% during the forecast period, according to a new report by Grand View Research, Inc. Increasing awareness and concerns about environmental sustainability have spurred the demand for eco-friendly alternatives, prompting industries to adopt post-consumer recycled plastics as a viable solution.
The growing consumer preference for sustainable products and packaging solutions is fueling the demand for post-consumer recycled plastics as companies strive to meet evolving consumer expectations and sustainability goals. Moreover, advancements in recycling technologies have improved the quality and versatility of recycled plastics, making them increasingly competitive with virgin plastics. With sustainability becoming a key focus for businesses and consumers alike, the market is poised to witness continued growth, driving innovation and contributing to more sustainable plastic consumption and waste management.
The market players are focusing on various strategic initiatives such as mergers, acquisitions, and collaborations. For instance, in November 2023, Berlin Packaging, a global hybrid packaging supplier, collaborated with the Association of Plastic Recyclers (APR) on a bottle sample program to assist in the designing and testing of recyclable polyethylene terephthalate (rPET) plastic packaging, which would be compatible with the North American recycling system. Through this collaboration, Berlin Packaging offers small quantities of specific PET bottles required for PET recyclability testing protocols in third-party testing laboratories to achieve APR Design for Recyclable Recognition certification.