
Chemically Recycled Flexible Packaging Market Size, Share & Trend Analysis, By Packaging Material, By Source, By End Use Industry, By Recycling Degree, By Geography, Competitive Tactics, and Segment Forecast to 2031
Packaging
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Reports and Insights
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April 2023
Recent
Introduction:
As per Reports and Insights Analysis, the global chemically recycled flexible packaging market is expected to grow at a CAGR of 17.2% during the forecast period of 2023 to 2031. The demand for chemically recycled flexible packaging has increased as a result of global technological advancements, and the rise in the use of sustainable packaging, which helps to maintain the global environmental issue, Also, government promotion and consumer awareness are anticipated to rise in demand for the chemically recycled flexible packaging.
The Reports and Insights team has drafted a market research report on the worldwide market for chemically recycled flexible packaging to identify the primary market drivers, market trends, challenges, and opportunities that business owners encounter. The report includes the market segmentation forecast, geographic perspective, and recent market developments for chemically recycled flexible packaging. Additionally, it provides extensive information on market size, market share, industry and product insights, SWOT analysis, Porter's five forces analysis, PESTEL analysis, heat map analysis, market forecast, and prominent market players for chemically recycled flexible packaging.
Chemically recycled flexible packaging refers to a process of recycling plastic packaging materials, such as pouches, bags, and wraps, through a chemical process that breaks down the polymers into their constituent molecules, which can then be used to create new plastic products. Chemically recycled flexible packaging is particularly attractive as it allows companies to reuse plastic waste that might otherwise end up in landfills or oceans. 
Scope of the Report:
 Report Metric          |
Report Details          |
Market size available for the years          |
2021-2031          |
Base year           |
2022          |
Forecast Period          |
2023-2031          |
CAGR   |
17.2%   |
Segment covered    |
By Packaging Material, By Source, By End Use Industry, By Recycling Degree, and By Region |
Regions Covered          |
North America: The U.S., & Canada
Latin America: Brazil, Mexico, Argentina, & Rest of Latin America
Asia Pacific: China, India, Japan, Australia, New Zealand, ASEAN, & Rest of Asia Pacific
Europe: The U.K., France, Spain, Italy, Russia Poland, BENELUX, NORDIC, & Rest of Europe
Africa: North Africa, Egypt, & Rest of Africa       The Middle East: GCC Countries, Israel, & Rest of the Middle East |
Fastest Growing Region |
Asia Pacific |
Largest Market   |
North America |
Key Players          |
Amcor plc, Avery Dennison Corporation, BASF SE, Berry Global, Inc., Dow Inc., DSM Engineering Plastics B.V., Huhtamaki Oyj, LyondellBasell Industries Holdings B.V., Mondi Group, SABIC, Sealed Air Corporation, and Tomra Systems ASA amongst others. |
         
Chemically Recycled Flexible Packaging Market Dynamics:
Market Drivers:
Initiatives for Corporate Sustainability:
Many businesses have sustainability goals and are looking for solutions to lessen their impact on the environment. These businesses can achieve their objectives and enhance the reputation of their brands by using chemically recycled flexible packaging. As plastic waste is recyclable and may be used again, there is less need for new plastic raw materials. The demand for recycled flexible packaging was driven by consumers who are becoming more conscious of the negative environmental effects of plastic waste and pushing for more sustainable packaging options.
Government Regulations:
Owing to the rise in concerns about issues like global warming and climate change, as well as the widespread usage of plastic, the government has begun to consider better alternatives. To cut down on plastic waste and promote the use of more environmentally friendly packaging materials, many governments are enacting regulations. Companies can comply with these rules and avoid fines or other penalties by using chemically recycled flexible packaging.
Market challenges:
Limited Processing Capacity:
The need for chemical recycling is being constrained by several factors. Due to a shortage of facilities, inadequate tools, and unskilled labor, the flexible packaging sector saw a reduction in product availability and an increase in manufacturing costs. Moreover, chemical collection and sorting of plastic trash for chemical recycling can be more difficult than mechanical recycling, which requires clean and homogeneous material. The poor quality, safety, and hygienic issues associated with recycled materials, hinder the demand. Owing to such factors the demand for chemically recycled flexible packaging material can be hampered.
Market Opportunities:
Increased Investment in Recycling Infrastructure:
The increase in consumer concern over the effects of plastic waste on the environment has increased the demand for items with sustainable packaging. Governments and private companies are investing in the development of recycling infrastructure, which could lead to more efficient and cost-effective chemically recycled flexible packaging processes. This creates an opportunity for companies to differentiate themselves by offering chemically recycled flexible packaging.
Collaboration and Partnerships:
Collaboration between industry players, including manufacturers, retailers, and waste management companies, can help to improve the collection, sorting, and processing of plastic waste, making chemically recycled flexible packaging more viable. Also, this will lead to solving issues such as high cost, raw material availability, and others.
Market Trend:       
The increase in demand for chemically recycled flexible packaging is due to the rise in consumer awareness regarding environmental concerns, which enables the government to promote chemically recycled flexible packaging due to their low impact and the recycling nature of plastic wasted which led to reduced demand for virgin plastic. This result to maintain environmental issues across the globe.
Market Growth:
The need for the chemically recycled flexible packaging market is anticipated to grow over the forecast period as a result of an increase in demand from a variety of industries due to the ability to maintain the environmental issue. Also, technological development helps to gain a wider range of competitive advantages, and the high demand for sustainable packaging, and government support led to boost the demand for chemically recycled flexible packaging market.
Chemically Recycled Flexible Packaging Market Segmentation: 
The chemically recycled flexible packaging market is segmented based on packaging material, source, end-use industry, recycling degree, and region.
By Packaging Material:
Bags
Pouches
Wraps
Others
By Source:
Consumer Waste
Industrial Waste
By End-Use Industry:
Healthcare
Cosmetics
Food and Beverage
Others
By Recycling Degree:
Mechanical Recycling
Chemical Recycling
Others
By Region:
North America
Asia Pacific
Europe
Latin America
Middle East
Africa
Chemically Recycled Flexible Packaging Market Regional Outlook:
The North American region is expected to witness significant growth in the chemically recycled flexible packaging market due to the increase in focus on sustainability and waste reduction measures. The presence of key market players and the increase in investments in the research and development of new technologies also drive market growth in this region.
The European market is also expected to witness substantial growth due to the stringent regulations for waste management and recycling. The increase in the adoption of eco-friendly packaging materials and the rise in consumer awareness are the major drivers of market growth in this region.
The Asia Pacific region is expected to witness the fastest growth in the chemically recycled flexible packaging market due to the increase in population and rise in demand for packaged food and beverages. The adoption of advanced recycling technologies and huge investment in the development of sustainable packaging solutions are the major drivers of market growth in this region.
Contemporary Developments by the Key Players:        
Dow Inc. has recently launched a new recycled plastic resin product line called AGILITY CE. This product line is intended for use in flexible packaging applications and is constructed of post-consumer recycled (PCR) plastic, including chemically recycled plastic.
Frequently Asked Question
What is the projected market size & Compound Annual Growth Rate (CAGR) of the chemically recycled flexible packaging market?
The chemically recycled flexible packaging market is estimated to reach at a value of US$ *** Mn by the end of 2023 and expected to reach at a value of US$ *** Mn by 2031 with a significant CAGR of 17.2%.
Which base year is used in the chemically recycled flexible packaging market report?
The base year for the report is 2022 in chemically recycled flexible packaging market.
What segments are covered in chemically recycled flexible packaging market report?
By Packaging Material, By Source, By End Use Industry, By Recycling Degree, and By Region
What are the key participating players in the chemically recycled flexible packaging market?
Amcor plc, Avery Dennison Corporation, BASF SE, Berry Global, Inc., Dow Inc., DSM Engineering Plastics B.V., Huhtamaki Oyj, LyondellBasell Industries Holdings B.V., Mondi Group, SABIC, Sealed Air Corporation, and Tomra Systems ASA amongst others.