Recycled PET Market Size, Share, Trends, Growth and Forecast 2034

Recycled PET Industry Prospective:

The global recycled PET market size was worth around USD 10.26 billion in 2024 and is predicted to grow to around USD 29.65 billion by 2034, with a compound annual growth rate (CAGR) of roughly 11.20% between 2025 and 2034.

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Recycled PET Market: Overview

Recycled polyethylene terephthalate (rPET) is a form of novel plastic produced by recycling polyethylene terephthalate (PET) products such as bottles. According to industry research, PET bottles are some of the most widely used types of containers in the beverage industry. Bottles produced using polyethylene terephthalate are highly durable and versatile, making them a popular choice for several applications. However, the production and application of PET bottles are environmentally damaging. PET is originally produced from non-renewable natural resources, including fossil fuel.

In addition, improper disposal of the bottles can lead to severe environmental pollution, as plastic materials can take multiple decades to degrade. The mounting pressure on PET bottle producers and users to reduce the environmental impact of polyethylene terephthalate has created more demand for recycled PET materials. Polyethylene terephthalate solutions that have already been used at least once are recycled using modern techniques and put back to use across industries. During the forecast period, demand for recycled PET is expected to surge due to increasing production of food-grade rPET. Moreover, intensifying government policies concerning ecological pollution will further escalate demand for rPET during the projection period.

Key Insights:

• As per the analysis shared by our research analyst, the global recycled PET market is estimated to grow annually at a CAGR of around 11.20% over the forecast period (2025-2034)
• In terms of revenue, the global recycled PET market size was valued at around USD 10.26 billion in 2024 and is projected to reach USD 29.65 billion by 2034.
• The recycled PET market is projected to grow at a significant rate due to the rising applications in the textile industry.
• Based on the source, the bottles & containers segment is growing at a high rate and will continue to dominate the global market as per industry projections.
• Based on the end-user, the food & beverage containers & bottles segment is anticipated to command the largest market share.
• Based on region, Europe is projected to dominate the global market during the forecast period.

Recycled PET Market: Growth Drivers

Rising applications in the textile industry to promote market expansion in the coming years

The global recycled PET market is expected to be driven by the rising use of the material in the clothing, textile, and fashion sectors. According to industry analysis, the global textile industry is seeking sustainable solutions as the end-user demand continues to rise to unprecedented levels. Major economies such as India and the US have registered significant investments in converting PET waste into usable yarns and fabrics. Polyester made from recycled PET offers similar performance to virgin polyethylene terephthalate, but has a lower environmental impact.

Additionally, the production of rPET is less resource-intensive, as the process requires minimal water and other resources. Nike, one of the world’s major sports accessories producers, has introduced a growing volume of rPET in its production chain. The company aims to use around 50% recycled raw materials for the production of fresh goods by 2025. Deploy, a leading recycler of polyester and PET plastics based in Switzerland, has announced its plans to launch a 500-tons-per-year demonstration plant in April 2025. The state-of-the-art facility will convert PET into virgin-quality raw materials. Deploy has already partnered with Odor for future transactions. The latter is a leading firm operating in the fashion space.

Intensifying government mandates encouraging PET recycling will further impact market revenue

Governments across the globe are refining regulatory frameworks to encourage or mandate the use of rPET in production chains across industries. For instance, the European Union government requires all PET beverage bottles in the region to contain 25% recycled plastic starting in 2025. According to official reports, the European Union is expected to increase its target to 30% by 2030.

On the other hand, the Indian Ministry of Environment, Forests, and Climate Change mandated that beverage makers use at least 30% recycled plastic in rigid packaging as of 1st April 2025. The global recycled PET market can benefit from such government-backed moves to encourage the use of recycled polyethylene terephthalate.

Recycled PET Market: Restraints

High cost of setting up infrastructure and limited number of players to limit market expansion

The global recycled PET industry is expected to be restricted due to the high cost of setting up the required infrastructure. Recycling PET requires the use of advanced production processes and sophisticated technologies. The industry is currently dominated by a limited number of players, which restricts the supply of rPET. These factors are likely to affect the greater adoption of recycled PET across industries due to the considerable gap in demand and supply of the material.

Recycled PET Market: Opportunities

Advancements in PET recycling technology to generate growth opportunities for the market players

The global recycled PET market is expected to generate growth opportunities due to ongoing advancements in PET recycling technology worldwide. These advancements are reflected in the introduction of new facilities with higher recycling capacity and innovations in recycling processes to improve rPET quality compared to current market options.

For instance, in September 2024, gr3n, an emerging brand in the rPET sector, announced the launch of microwave-assisted depolymerization, also known as MADE. The technology is highly effective in breaking down PET into the chemical building block monomers of terephthalic acid (PTA) and monoethylene glycol (MEG). The end products can be used for recombination and the creation of new, virgin-like PET pellets. MADA is expected to assist in predicting the properties of textile and food-grade recycled PET.

In January 2025, PolyCycl, a start-up in the circular economy sector, launched its patented Contiflo Cracker Generation VI chemical recycling pyrolysis technology, which converts difficult-to-recycle plastics into renewable chemicals, food-grade polymers, and sustainable fuels. The introduction of Artificial Intelligence (AI)-powered recycling equipment and platforms will further contribute to the market’s overall revenue in the future.

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Recycled PET Market: Challenges

Lack of standardization promoting product quality to challenge market expansion in the future

The global recycled PET industry is expected to be challenged by the lack of standard protocols supervising the quality of products available in the market. Lack of high-quality rPET can diminish the material’s adoption rate across various industries. Furthermore, increasing competition from virgin PET and other alternatives may also impact the market expansion rate in the future.

Recycled PET Market: Report Scope

Recycled PET Market: Segmentation

The global recycled PET market is segmented based on source, grade, end-user, and region.

Based on the source, the global market divisions are films & sheets, bottles & containers, and others. In 2024, the highest demand was listed in the bottles & containers segment. The rising production of food-grade recycled PET materials is one of the largest segmental influencers. In addition to this, increasing mandates from regional governments promoting the use of rPET in food & beverage packaging will also impact segmental demand in the future. Production of rPET requires 40% to 60% less consumption compared to virgin PET production.

Based on grade, the global recycled PET industry is divided into grade A and grade B.

Based on the end-user, the global market segments are non-food containers & bottles, food & beverage containers & bottles, strapping, films & sheets, fibers, and others. In 2024, the highest revenue was generated by the food & beverage containers & bottles segment. Rising global demand for food products and beverages has encouraged more companies to opt for recycled PET as their primary raw material. The global average rPET content in food & beverage containers & bottles in 2020 was around 20% to 30%.

Recycled PET Market: Regional Analysis

Europe to deliver the highest revenue during the forecast period

The global recycled PET market will be led by Europe during the forecast period. Countries such as Germany, Switzerland, the UK, Denmark, and others are some of the leading revenue generators for the region. Increasing consumer awareness about the benefits of rPET has helped the region thrive in the last few years. In addition, the presence of comprehensive and clear government guidelines promoting the use of recycled polyethylene terephthalate has f

urther escalated demand for rPET across major industries. In March 2025, Belgium witnessed the launch of the country’s first PET bottle recycling plant. The facility is constructed as a joint venture between Veolia, a recycling expert, and Sources ALMA. The latter is a leading producer of bottled water.

Asia-Pacific is another prominent region in the recycled PET industry with an exceptional growth rate. During the projection period, countries such as China, India, Singapore, South Korea, and Japan are expected to lead the regional revenue. In March 2025, Bhilwara Energy Limited in India announced the launch of LNJ GREENPET. It is a modern and highly equipped business-to-business (B2B) food-grade PET resin manufacturing facility. The project is expected to become India’s largest single-premises B2B rPET resin-producing facility.

Recycled PET Market: Competitive Analysis

The global recycled PET market is led by players like:

• Clear Path Recycling
• Indorama Ventures
• Evergreen (Greenbridge)
• Biffa
• Loop Industries
• PET Recycling Team GmbH
• Phoenix Technologies International
• ALPLA Group
• Far Eastern New Century Corporation
• Plastipak Holdings
• Faerch Group
• CarbonLite Industries
• UltrePET
• Veolia
• PolyQuest Inc.

The global recycled PET market is segmented as follows:

By Source

• Films & Sheets
• Bottles & Containers
• Others

By Grade

• Grade A
• Grade B

By End-User

• Non-Food Containers & Bottles
• Food & Beverage Containers & Bottles
• Strapping
• Films & Sheets
• Fibers
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa