Recycled PET Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Recycled PET Market reached US$ 10.5 Billion in 2023 and is expected to reach US$ 17.4 Billion by 2031, growing with a CAGR of 6.5% during the forecast period 2024-2031.

Recycled PET is in great demand for its green solutions due to growing awareness of concerns including plastic waste, ocean pollution and climate change. Governments, corporations and people are concentrating on promoting recycling programs and cutting down on plastic waste. Governments throughout the world are putting laws and policies into place to encourage the use of recycled materials and reduce plastic waste. The includes extended producer responsibility initiatives, goals for reducing plastic waste and laws requiring packaging to include a specific amount of recycled material.