Segmentation
The global Plastic Bottle Recycling Market has been segmented based on material and application.
By material, the Plastic Bottle Recycling Market Trends has been segmented into PET, PP, HDPE, PVC, LDPE, and others. PET segment accounts for the largest share of the market since it is counted among the most recycled plastic materials. The HDPE and PP material segments follow the PET segment.
By application, the Plastic Bottle Recycling Market Trends has been segmented into Food & Beverages, Personal Care, Pharmaceutical, Consumer goods, and others. The food & beverage segment is likely to be major revenue generator over the forecast period. Towering demand for food and beverages is boosting the growth of the segment. The pharmaceutical industry and personal care industry are also major application area for Plastic Bottle Recycling Market Trends.
Regional Analysis
Region-wise, the Plastic Bottle Recycling Market Trends has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America is the largest market for plastic bottle recycling. The presence of an established F&B industry in the region which has shifted its focus to the recycling plastic bottles to minimize damage to the environment has generated huge demand within the market. Moreover, governments measures to support recycling of plastics along with increasing awareness on the part of manufacturers has driven the market considerably. Additionally, various end-use industries are preferring the use of recycled bottles over normal plastic bottles, which too remains a key growth motivator.
Europe region is also expected to experience growth spurts over the forecast period. Various stringent regulations enacted by the government to curb environmental pollution heightened awareness, and augmented demand for recycled plastic bottles from end-use industries is expected to augur the growth of the market.
Competitive Landscape
National Recycling Technologies, Phoenix Technologies International, Evergreen Plastics, Recycle Clear, CarbonLITE, Worldwide Recycler Services, Avangard Innovative, UltrePET, Complete Recycling, Advanced Environmental Recycling Technologies, and ECO2 Plastics are the key players in the global Plastic Bottle Recycling Market Trends.
Industry Updates
June 2019 - PepsiCo, an American multinational food, snack, and beverage corporation is making its contribution to environment conservation by eliminating plastic bottles from its supply chain. The company is switching to cans for some of its products and has a goal of substituting all its packaging by recycled, compostable, and biodegradable bottles by 2025.
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