Plastic Recycling Market Surges in Demand: Breakthrough Innovations, Sustainability Trends & Global Growth 2031

Rising concerns over plastic pollution and the push for sustainability are propelling the growth of the global plastic recycling market.

WILMINGTON, DE, UNITED STATES, July 22, 2025 /EINPresswire.com/ -- Rising concerns over plastic pollution and the push for sustainability are propelling the growth of the global plastic recycling market, which is expected to more than double by 2031. According to a recent report by Allied Market Research, the market was valued at $27.9 billion in 2021 and is projected to reach $60.96 billion by 2031, growing at a CAGR of 8.7% from 2022 to 2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/A08207

Key Growth Drivers

- Environmental Awareness: Increased recognition of the harmful effects of plastic waste and its contribution to global pollution.
- Government Support: Implementation of stringent regulations and recycling initiatives across multiple regions.
- Technological Innovations: Emergence of chemical recycling and pyrolysis to enhance recycling efficiency.

Despite these positive trends, challenges such as inadequate recycling infrastructure and the lower value of recycled plastics compared to virgin materials persist, particularly in developing economies. However, advances in recycling processes and rising investments in sustainable practices are expected to unlock new growth opportunities.

Segment Insights:

By Product: Polyethylene Terephthalate (PET) Leads the Way

- 2021 Share Leader & Fastest Growing Segment
- CAGR: 9.4% (2022–2031)
- Growth driven by increasing demand for eco-friendly and lightweight packaging, especially in beverages.

By Source: Plastic Bottles Dominate:

- Largest Market Share in 2021
- Highest CAGR: 9.5% through 2031
- Surge in recycling awareness and widespread usage of plastic bottles contributes to segment growth.

By Application: Packaging Remains Dominant:

- Packaging accounts for a significant portion of global plastic waste.
- Growing consumer and regulatory push for sustainable packaging drives continued demand.

Regional Outlook:-

- Asia-Pacific: Market Leader & Fastest Growing Region
- 2021 Market Leader
- Expected CAGR: 9.2% from 2022 to 2031
- Rising environmental challenges and regulatory initiatives across countries like China, India, and Japan fuel growth.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: https://www.alliedmarketresearch.com/plastic-recycling-market/purchase-options

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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