UK Recycled Pet Flakes Market Size & Outlook, 2023-2030
UK recycled pet flakes market, 2018-2030 (US$M)
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UK recycled pet flakes market highlights
- The UK recycled pet flakes market generated a revenue of USD 512.9 million in 2023 and is expected to reach USD 1,061.6 million by 2030.
- The UK market is expected to grow at a CAGR of 11% from 2024 to 2030.
- In terms of segment, clear was the largest revenue generating product in 2023.
- Clear is the most lucrative product segment registering the fastest growth during the forecast period.
Recycled pet flakes market data book summary
| Market revenue in 2023 | USD 512.9 million |
| Market revenue in 2030 | USD 1,061.6 million |
| Growth rate | 11% (CAGR from 2023 to 2030) |
| Largest segment | Clear |
| Fastest growing segment | Clear |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Clear, Colored |
| Key market players worldwide | Indorama Ventures PCL ADR, Biffa, Tomra Systems ASA, Verdeco Recycling, Polyquest, Veolia, Pashupati Cotspin, AlEn USA |
Other key industry trends
- In terms of revenue, UK accounted for 5.0% of the global recycled pet flakes market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Europe, Italy recycled pet flakes market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 1,061.6 million by 2030.
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Recycled PET Flakes Market Scope
Recycled PET Flakes Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
UK recycled pet flakes market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to recycled pet flakes market will help companies and investors design strategic landscapes.
Clear was the largest segment with a revenue share of 78.14% in 2023. Horizon Databook has segmented the UK recycled pet flakes market based on clear, colored covering the revenue growth of each sub-segment from 2018 to 2030.
The UK has launched Plastic Pact 2025, which focuses on achieving 100% plastic recycling by 2025 to tackle the problem of plastic waste generated in the country. This project aims at reaching a plastic packaging recycling rate of 70% and introducing 30% recycled plastics in the packaging industry of the UK.
During the COVID-19 pandemic, the demand for packaged food items and single-use plastic products such as disposable masks, gloves, and personal protective suits increased. Moreover, a slowdown in recycling processes owing to the lockdown measures undertaken to prevent the spread of the coronavirus added to the increased plastic waste exports and landfill dumps in the UK.
This led to the requirement for accelerating plastic recycling in the country to tackle the problem of large volumes of plastic waste generated. For instance, in November 2022, Clean Planet Energy and an equity firm, Crossroads Real Estate announced a joint venture for the establishment of recycling facilities across the UK with funding of USD 400 million.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK recycled pet flakes market , including forecasts for subscribers. This country databook contains high-level insights into UK recycled pet flakes market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK recycled pet flakes market size, by product, 2018-2030 (US$M)
UK Recycled PET Flakes Market Outlook Share, 2023 & 2030 (US$M)
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