Recycled Plastics Market to Exhibit a CAGR of 8.6% from 2024 to 2032; Coca-Cola Announced to Release a New 13.2-oz. Bottle to Minimize the Use of New Plastics

The global recycled plastics market size stood at USD 51.10 billion in 2023. The market value is slated to rise from USD 55.46 billion in 2024 to USD 107.13 billion by 2032 at a CAGR of 8.6% during 2024-2032. Fortune Business Insights™ presents this information in its report titled “Recycled Plastics Market Size, Share & Industry Analysis, By Type (Polyethylene Terephthalate (PET), High-density Polyethylene (HDPE), Polypropylene (PP), Low-density Polyethylene (LDPE), and Others), By Source (Plastic Bottles, Plastic Films, Polymer Foam, and Others), By Application (Non-Food Packaging, Food Packaging, Construction, Automotive, and Others), and Regional Forecast, 2024-2032”

Recycled plastic means scrap materials or waste plastic converted into useful products. The surging restrictions on the deployment of single-use polymers, coupled with the growing initiatives by the governments in Europe, India, Brazil, and China, proliferating recycling promotions, are surging the market expansion.

Moreover, the COVID-19 pandemic made plastic recycling a severe problem attributed to the challenges in waste polymer collection. The halt in the supply chain and closing down of recycling units on the back of movement restrictions and total lockdowns led to the processing and recycling of plastics.

Coca-Cola Unveiled to Release a New rPET Made Bottle to Reduce New Plastics Usage

In February 2021, Coca-Cola announced to launch a new 13.2-oz. bottle made by deploying 100% recycled PET in Florida, California, and selective states in the Northeast. Moreover, the new product provides a sippable portion size and convenience. This move helped the company decrease the deployment of new plastics.

Market Value to Grow Owing to Increasing Consciousness Toward Saving Energy

The recycled plastics market growth is driven by surging consciousness toward saving energy. Different steps needed in processing that are vital in the production of traditional plastics can be eliminated by the generation of the product.

Despite such growth opportunities, the increasing preference for virgin plastics over recycled options may hinder the market growth.

Market Leaders Opt for Partnerships to Co-develop Enhanced Solutions

The market is observing the adoption of strategies such as product innovation, expansion, and joint ventures to expand globally by The Coca-Cola company, one of the leading companies. A wide array of competitive strategies, such as mergers & acquisitions and capacity expansions, are being emphasized by leading companies to boost their position in the recycled plastics market. Partnerships are also being forged by top players to jointly develop enhanced solutions.

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Key Players

• KW Plastics (U.S.)


• Veolia (France)


• Custom Polymers (U.S.)


• Plastipak Holdings (U.S.)


• The Coca-Cola Company Incorporated (U.S.)


• Suez (France)


• B. Schoenberg & Co. U.S.)


• Fresh Pak Corporation (U.S.)


• B&B Plastics (U.S.)


• Green Line Polymers (U.S.)


• Ultra Poly Corporation (U.S.)


• Clear Path Recycling (U.S.)


• Jayplas (U.K.)


• MBA Polymers (U.S.)


• RJM International Inc. (U.S.)


• CarbonLite Industries LLC (U.S.)


• Envision Plastics Industries LLC (U.S.)


• ReVital Polymers (Canada)

Key Industry Development

• April 2022 – Group FORVIA company, Faurecia, and Veolia entered a Cooperation and Research Agreement for the co-development of innovative compounds for automotive interior modules. This move is aimed at reaching an average of 30% recycled content by 2026. The two players are poised to boost the usage of sustainable solutions in center consoles, door panels, and instrument panels in Europe.

Further Report Findings

• The Asia Pacific market for recycled plastics, valued at USD 30.94 billion in 2023, is slated to capture the largest share during the forecast period. The swift expansion in the packaging industry is driving the market growth in the region.


• Europe market is witnessing expanding demand for products at a substantial rate from construction and automotive industries.


• Latin America market is estimated to observe considerable growth during the forecast period due to the surging number of packaging product manufacturers and growth in the usage of plastics owing to the ban on single-use plastics.  


• Based on application, the market for recycled plastics is classified into construction, food packaging, non-food packaging, automotive, and others. The non-food packaging segment occupied the largest recycled plastics market share in 2023 owing to the growing demand for recycled PET for the production of packaging products, such as films & wraps and bottles.

Table of Segmentation