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

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.  

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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.