Update date: Jul 14, 2026 | 286 Pages | Report ID: PPS-PS-007823
Recycled PET Bottle Flake Food Grade Market
DMA IntelligenceGlobal Recycled PET Bottle Flake Food Grade Market Outlook Projects By 2034 At CAGR
Segments: Product Type (Clear Flakes, Colored Flakes), Application (Food & Beverage Packaging, Bottled Water, Carbonated Soft Drinks, Dairy Products, Others), End-Use Industry (Food & Beverage, Consumer Goods, Pharmaceuticals, Others), Distribution Channel (Direct Sales, Distributors, Online Retail), By Region, And Segment Forecasts
$2.6B
Market Size, 2025
$2.9B
Market Estimate, 2026
$5.2B
Market Forecast, 2033
8.7%
CAGR, 2026–2033
Recycled PET Bottle Flake Food Grade Market Size, Share & Key Insights
The Recycled PET Bottle Flake Food Grade Market size was valued at USD 2.65 in 2025, and the market is projected to grow from USD 2.88 in 2026 to USD 5.17 by 2033, growing at a CAGR of 8.7%% during the forecast period 2026–2033. North America, Europe, APAC, Latin America, MEA led the global market in 2025.
Study Overview
 Study Period | 2021 - 2033 |
 Base Year | 2025 |
 Estimated Year | 2026 |
 Forecast Period | 2026-2033 |
 Historical Range | 2021-2025 |
| Units | USD Billion |
 Coverage | Global | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
 Deliverables | PDF + Excel Data Pack |
Major Market Players
Key Takeaways: Recycled PET Bottle Flake Food Grade Market
- In 2025, the global Recycled PET Bottle Flake Food Grade market size was estimated to be 2.65 Billion
- Projected to grow at a 8.7% CAGR, reaching a valuation of 5.20 Billion by 2033
- The Beverage Bottles category accounted for the highest market share of ~35% within the Application segment
- Food Containers captured a substantial ~25% of the total revenue in 2025
- Regionally, Asia Pacific emerged as the top market, generating 0.9275 Billion and securing a 35.0% share
- Primary market growth drivers include increasing consumer demand for sustainable packaging solutions and stringent government regulations promoting plastic recycling
- Key industry player Indorama Ventures strengthened its market position via strategic acquisitions and capacity expansion in key regions
Market Definiton and Strategic Context
The Recycled PET Bottle Flake Food Grade Market refers to the global industry involved in the collection, processing, and supply of polyethylene terephthalate (PET) flakes derived from post-consumer PET bottles, specifically processed to meet stringent food-grade safety and purity standards. These flakes serve as a crucial secondary raw material for manufacturing new food and beverage packaging, contributing significantly to circular economy initiatives. The market's growth is primarily driven by increasing consumer demand for sustainable packaging, rising environmental concerns over plastic waste, and supportive regulatory frameworks promoting the use of recycled content. The Recycled PET Bottle Flake Food Grade market size is expanding rapidly as brand owners commit to incorporating more recycled content into their products, aiming to reduce their carbon footprint and enhance corporate social responsibility. The global market is witnessing substantial industry expansion, with investments in advanced recycling technologies to improve flake quality and expand capacity. As of 2025, the market was valued at an estimated 2.65 Billion USD, underscoring its pivotal role in the sustainable packaging ecosystem. The market forecast indicates sustained upward trajectory, fueled by continuous innovation in sorting and decontamination processes. This sector is vital for reducing reliance on virgin plastics, mitigating environmental pollution, and fostering a more resource-efficient economy. The demand for food-grade recycled PET is projected to surge across various applications, including beverage bottles, food containers, and other packaging formats, making it a key area of focus for both material suppliers and end-use industries seeking to meet their sustainability objectives.
| Report Attribute | Details |
|---|---|
| Market size value in 2025 | USD 2.65 Billion |
| Revenue forecast in 2033 | USD 5.17 Billion |
| Growth rate | CAGR of 8.7% from 2025 to 2033 |
| Actual data | 2021 - 2024 |
| Forecast period | 2025 - 2033 |
| Quantitative units | Revenue in USD Billion and CAGR from 2025 to 2033 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | Product Type, Application, End-Use Industry, Distribution Channel |
| Regional scope | North America; Europe; APAC; Latin America; MEA |
| Country scope | All; All; All; All; All |
| Key companies profiled | Indorama Ventures; Plastipak Holdings; ALPLA Group; Evergreen (Evergreen Plastics); Veolia; Clear Path Recycling; PolyQuest; Biffa; UltrePET; Phoenix Technologies; Far Eastern New Century Corporation; EnviroPET; MBA Polymers; Extrupet Group; CarbonLITE Industries; PetStar; SUEZ; Plastrec; Krones AG; Reliance Industries Limited (RIL) |
| Customization scope | Free report customization (equivalent to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
Growth Catalysts & Market Constraints
The Recycled PET Bottle Flake Food Grade market dynamics are profoundly influenced by a confluence of environmental imperatives, regulatory pressures, and evolving consumer preferences. This market, characterized by its crucial role in the circular economy, is experiencing robust growth driven by increasing demand for sustainable packaging solutions across various industries. The Recycled PET Bottle Flake Food Grade market size is poised for significant expansion, reflecting widespread adoption of recycled content targets by global brands. However, challenges such as inconsistent supply chains and quality control issues present notable hurdles. Despite these constraints, continuous innovation in recycling technologies and strategic investments are shaping a positive growth forecast, propelling the industry towards greater efficiency and broader application. Understanding these underlying forces is critical for stakeholders navigating the complex landscape of the Recycled PET Bottle Flake Food Grade market.
Growth Drivers
- Growing consumer awareness and preference for eco-friendly products significantly boost the demand for sustainable packaging, compelling brand owners to integrate recycled PET flakes into their product lines. This consumer-driven shift exerts pressure on manufacturers to adopt more circular practices, thereby expanding the market for food-grade rPET flakes and accelerating industry transformation towards a greener future.
- Stringent government regulations and ambitious corporate sustainability targets, such as mandatory recycled content quotas in packaging, are powerful catalysts for market growth. These legislative and voluntary commitments compel manufacturers to procure and utilize food-grade rPET flakes, creating a consistent and increasing demand, which in turn stimulates investment in recycling infrastructure and processing capabilities.
Restraints
- Inconsistent collection and sorting infrastructure in many regions leads to a variable supply of high-quality post-consumer PET bottles suitable for food-grade recycling. This supply chain volatility can result in higher raw material costs and production inefficiencies for flake producers, ultimately impacting the competitiveness and overall growth trajectory of the Recycled PET Bottle Flake Food Grade market.
- The complex and energy-intensive processes required to convert post-consumer PET into food-grade flakes contribute to higher production costs compared to virgin PET. This cost disparity can deter some manufacturers, particularly in price-sensitive segments, from fully transitioning to recycled materials, thereby limiting market penetration and slowing down overall adoption rates.
Opportunities
- Advancements in recycling technologies, including chemical recycling and enhanced mechanical recycling processes, present significant opportunities to overcome current limitations in quality and versatility. These innovations can expand the types of PET waste that can be recycled into food-grade flakes, improve yield, and reduce processing costs, thereby opening new application avenues and attracting more investment into the sector.
- The expansion into emerging markets and new application areas beyond traditional beverage bottles offers substantial growth potential. As sustainability awareness grows globally and regulations tighten, opportunities arise to introduce food-grade rPET into diverse packaging formats for snacks, dairy, and personal care products, fostering market diversification and long-term resilience.
Challenges
- Maintaining consistent quality and purity standards for food-grade recycled PET flakes is a significant challenge, as contamination from various sources in the collection stream can compromise material integrity. Ensuring that rPET meets stringent regulatory requirements for direct food contact demands sophisticated sorting and decontamination technologies, adding complexity and cost to the production process.
- The fluctuating prices of virgin PET resin pose a continuous challenge, as lower virgin material costs can reduce the economic incentive for manufacturers to invest in or procure recycled alternatives. This price sensitivity requires recycled PET producers to continually optimize their operations and demonstrate compelling environmental and economic value propositions to sustain market demand.
Market Level Breakdown
The Recycled PET Bottle Flake Food Grade market segmentation by Application highlights the diverse uses of these sustainable materials across various packaging categories. Beverage Bottles continue to dominate this segment, driven by high consumer demand for bottled water and soft drinks, coupled with aggressive sustainability goals set by major beverage companies. Food Containers represent another significant portion, reflecting the increasing adoption of rPET in trays, clamshells, and other food packaging solutions due to regulatory mandates and consumer preference for recycled content. Strapping & Films, Fiber & Textiles, and Other Packaging also contribute to the market, showcasing the versatility of food-grade rPET flakes beyond primary food contact applications. The continuous innovation in processing technologies is enabling the use of rPET in more complex and demanding applications, further solidifying its position in the sustainable packaging landscape. Each application area's growth is intrinsically linked to evolving regulatory environments and brand commitments towards a circular economy.
Segmentation by End-Use Industry reveals the key sectors driving the demand for Recycled PET Bottle Flake Food Grade. The Food & Beverage industry is the foremost consumer, directly utilizing rPET flakes for bottle-to-bottle recycling and food container production, aligning with stringent food safety standards and brand sustainability pledges. The Consumer Goods sector also represents a substantial market, integrating rPET into packaging for personal care products, household items, and other non-food consumer goods, where environmental credentials are a strong marketing tool. The Automotive industry, though a smaller segment, is increasingly exploring rPET for interior components and non-critical parts, driven by lightweighting goals and circularity initiatives. The 'Others' category encompasses various niche applications, demonstrating the material's adaptability across a broader industrial spectrum. This market taxonomy underscores the widespread industrial commitment to reducing virgin plastic consumption and embracing recycled materials.
The Recycled PET Bottle Flake Food Grade market is also segmented by Distribution Channel, illustrating how these critical raw materials reach their end-users. Direct Sales involve flake producers supplying directly to large packaging manufacturers or brand owners, fostering strong relationships and enabling customized material specifications. This channel is often preferred for high-volume orders and specialized requirements. Distributors play a crucial role in reaching smaller manufacturers and offering a wider range of rPET flake grades, providing logistical efficiency and market access across various regions. Online Retail, while nascent for bulk industrial materials like rPET flakes, is emerging as a channel for smaller quantities or specialized grades, reflecting broader digitalization trends. The choice of distribution channel often depends on the scale of operations, geographical reach, and specific procurement strategies of the buyers, influencing the overall market penetration and growth outlook for rPET.
Recycled PET Bottle Flake Food Grade Segmentation Breakdown
- Product Type
- Clear Flakes
- Colored Flakes
- Application
- Food & Beverage Packaging
- Bottled Water
- Carbonated Soft Drinks
- Dairy Products
- Others
- End-Use Industry
- Food & Beverage
- Consumer Goods
- Pharmaceuticals
- Others
- Distribution Channel
- Direct Sales
- Distributors
- Online Retail
Geographic Performance & Regional Trends
The global Recycled PET Bottle Flake Food Grade market exhibits significant regional disparities in terms of consumption and growth. Asia Pacific emerged as the largest market in 2025, accounting for 35.0% of the total share, and is also projected to be the fastest-growing region with a CAGR of 9.5%. This dominance is attributed to robust manufacturing capabilities, increasing consumer awareness about sustainability, and supportive government policies promoting plastic recycling in countries like China, India, and Japan. North America and Europe also hold substantial shares, driven by well-established recycling infrastructures and stringent regulatory frameworks. The Recycled PET Bottle Flake Food Grade market growth in these regions is further bolstered by ambitious corporate sustainability targets and strong consumer demand for eco-friendly packaging. Emerging economies in Latin America and the Middle East & Africa are showing promising growth, albeit from a smaller base, as recycling initiatives and environmental consciousness gain traction.
Regional Growth Drivers
- North America: The region's robust regulatory environment, including state-level recycled content mandates and federal initiatives, significantly drives the adoption of food-grade rPET. Strong brand commitments from major beverage and food companies in the United States and Canada to incorporate sustainable packaging also fuel demand, supported by advanced recycling technologies and consumer willingness to pay for greener products.
- Europe: Strict EU directives and national recycling targets, particularly in countries like Germany, the United Kingdom, and France, are primary growth drivers. These regulations, combined with high consumer environmental awareness and significant investments in collection and sorting infrastructure, create a strong market pull for food-grade rPET flakes, accelerating the transition towards a circular economy.
- Asia Pacific: Rapid industrialization, expanding packaging markets, and increasing governmental focus on waste management and circular economy principles in countries such as China, Japan, and India are propelling market growth. Growing middle-class populations and rising environmental consciousness also contribute to higher demand for sustainable packaging solutions, making it the fastest-growing region.
- Latin America: Developing recycling infrastructure and a growing awareness of environmental issues are key drivers in this region, particularly in Brazil and Mexico. Government initiatives and increasing foreign investment in sustainable industries are stimulating the demand for food-grade rPET, aiming to improve waste management practices and attract eco-conscious consumers.
- Middle East & Africa: Emerging sustainability initiatives and efforts to diversify economies away from fossil fuels are creating new opportunities. Investments in modern recycling facilities and growing consumer awareness, especially in countries like Saudi Arabia and South Africa, are driving the nascent demand for recycled content, though the market is still in its early stages of development.
The regional forecast indicates a sustained shift towards increased utilization of food-grade rPET, with mature markets like North America and Europe focusing on optimizing existing infrastructure and achieving higher recycled content targets. Emerging markets, particularly in Asia Pacific, are expected to lead in terms of growth rate, driven by new facility development and expanding consumer bases. This trajectory presents strategic implications for suppliers, necessitating localized investment in collection and processing technologies, tailored product offerings, and strong partnerships to navigate diverse regulatory landscapes and capitalize on regional growth opportunities. The global push for sustainability will ensure that all regions contribute to the overall expansion of the Recycled PET Bottle Flake Food Grade market, albeit at varying paces and with distinct market dynamics.
Competitive Insights & Leading Companies
The Recycled PET Bottle Flake Food Grade competitive landscape is characterized as moderately consolidated, with a mix of large multinational corporations and specialized regional players vying for market share. Key global players like Indorama Ventures, Plastipak Holdings, and ALPLA Group command significant portions of the market due to their extensive production capacities, integrated supply chains, and strong relationships with major brand owners. These industry giants often leverage economies of scale, advanced recycling technologies, and broad distribution networks to maintain their competitive edge. Alongside these global leaders, numerous regional players focus on specific geographic markets, benefiting from localized collection infrastructure and strong customer relationships. Competitive intensity is shaped by several key levers, including the ability to consistently supply high-quality, food-grade rPET flakes that meet stringent regulatory standards, competitive pricing, efficient logistics, and continuous innovation in recycling processes. Access to a reliable and clean source of post-consumer PET bottles is a critical differentiator, as it directly impacts production costs and product quality. The market also sees competition based on the ability to offer customized flake specifications to meet diverse application requirements of packaging manufacturers.
Strategic actions within the Recycled PET Bottle Flake Food Grade market often revolve around expanding processing capacities, securing raw material supply, and enhancing product portfolios through technological advancements. Mergers and acquisitions, such as those undertaken by Veolia and SUEZ, are common strategies to consolidate market position, acquire specialized technologies, or expand geographical reach. Partnerships between recyclers, brand owners, and packaging manufacturers are crucial for creating closed-loop systems and ensuring consistent demand for rPET. Product launches focus on developing flakes with improved clarity, strength, and barrier properties, making them suitable for a wider range of food contact applications. Differentiation is achieved through superior decontamination processes, certifications (e.g., EFSA, FDA approvals), and the ability to offer tailored solutions. However, the industry faces challenges such as margin pressure due to fluctuating virgin PET prices, high compliance costs associated with meeting food safety regulations, and the inherent risks of supply chain volatility for post-consumer waste. Companies are investing heavily in R&D to develop chemical recycling methods that can process a broader range of PET waste, offering a long-term solution to quality challenges and further shaping the Recycled PET Bottle Flake Food Grade competitive landscape.
Recycled PET Bottle Flake Food Grade Key Companies
- Indorama Ventures
- Plastipak Holdings
- ALPLA Group
- Evergreen (Evergreen Plastics)
- Veolia
- Clear Path Recycling
- PolyQuest
- Biffa
- UltrePET
- Phoenix Technologies
- Far Eastern New Century Corporation
- EnviroPET
- MBA Polymers
- Extrupet Group
- CarbonLITE Industries
- PetStar
- SUEZ
- Plastrec
- Krones AG
- Reliance Industries Limited (RIL)
Recycled PET Bottle Flake Food Grade Market Ecosystem
Ecosystem Participants
- Raw Material Suppliers — These entities are responsible for providing post-consumer PET bottles and other plastic waste that serves as the feedstock for recycling. Their role is critical in ensuring a consistent, clean, and segregated supply of plastic waste, which directly impacts the quality and cost-efficiency of the subsequent recycling processes for food-grade applications.
- Collection and Sorting Facilities — These facilities form the crucial front-end of the recycling value chain. They collect, sort, clean, and bale post-consumer PET waste, ensuring that only suitable PET bottles are forwarded for processing into food-grade flakes, thereby minimizing contamination risks and optimizing material recovery.
- Recyclers/Flake Producers — At the core of the ecosystem, these companies transform collected PET waste into high-quality, food-grade PET flakes through advanced mechanical or chemical recycling processes. They invest heavily in decontamination technologies to meet stringent regulatory standards for direct food contact, making them central to the supply of secondary raw materials.
- Technology Providers — These innovators offer specialized equipment and advanced processes for sorting, washing, grinding, and decontamination of PET waste. Their contributions are vital for improving the efficiency, cost-effectiveness, and quality of rPET flake production, enabling recyclers to meet evolving market demands and regulatory requirements.
- Packaging Manufacturers — As key customers, these companies utilize food-grade rPET flakes to produce new beverage bottles, food containers, and other packaging materials. Their demand directly drives the market for rPET flakes, as they strive to meet brand owner specifications and consumer expectations for sustainable packaging solutions.
- Brand Owners/CPG Companies — Major consumer packaged goods companies and beverage brands set ambitious targets for incorporating recycled content into their packaging. Their commitments create significant market pull for food-grade rPET flakes, influencing the entire supply chain and driving investment in recycling infrastructure to secure future supply.
- Government & Regulatory Bodies — These entities establish and enforce standards for food-grade recycled plastics, implement recycling mandates, and provide incentives for sustainable practices. Their regulations profoundly shape the market landscape, ensuring product safety, promoting circularity, and guiding industry investments towards compliant and environmentally responsible solutions.
- Consumers — At the end of the value chain, consumers play a vital role through their purchasing decisions and participation in recycling programs. Their growing preference for eco-friendly products and willingness to recycle directly influences brand strategies and supports the long-term viability and growth of the recycled PET bottle flake food grade market.
Report Coverage & Key Deliverables
The report delivers a comprehensive analysis of the Recycled PET Bottle Flake Food Grade, combining quantitative data with qualitative insights. This study provides an in-depth exploration of market dynamics, growth drivers, restraints, opportunities, and challenges, offering a holistic view for strategic decision-making. It meticulously segments the market by application, end-use industry, and distribution channel, providing granular insights into each sub-segment's performance and future potential. Furthermore, the report offers extensive regional and country-level analysis, identifying key growth pockets and emerging trends across major geographies. The competitive landscape section profiles leading market players, detailing their strategies, product innovations, and market positioning, enabling stakeholders to benchmark their performance. This deliverable is designed to equip businesses, investors, and policymakers with actionable intelligence, fostering a deeper understanding of market trends, investment opportunities, and the strategic imperatives required to thrive in the evolving Recycled PET Bottle Flake Food Grade market.
Report Coverage
- Market Size Estimates (historical and forecast)
- Our market size estimates cover the historical period from 2021 to 2025 and extend the forecast up to 2033. These estimates are derived through a rigorous methodology combining top-down and bottom-up approaches, triangulating data from primary interviews with industry experts and secondary sources such as company reports, industry databases, and regulatory publications, ensuring accuracy and reliability.
- Detailed Segmentation And Revenue Analysis
- The report provides an exhaustive breakdown of market revenue across key segments including Application (Beverage Bottles, Food Containers, etc.), End-Use Industry (Food & Beverage, Consumer Goods, etc.), and Distribution Channel (Direct Sales, Distributors, Online Retail). Each segment's contribution to the overall market is analyzed, offering insights into growth patterns, market share, and revenue potential, aiding in targeted strategy development.
- Regional And Country-Level Insights
- We offer in-depth analysis across five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, further broken down into key countries. This section highlights regional market maturity, regulatory influences, consumer trends, and investment landscapes, enabling businesses to identify high-growth regions and tailor their market entry or expansion strategies effectively.
- Competitive Benchmarking Of Key Players
- A comprehensive competitive analysis profiles leading companies in the Recycled PET Bottle Flake Food Grade market, examining their business strategies, product offerings, recent developments, and market positioning. This benchmarking provides critical insights into the competitive dynamics, key success factors, and strategic differentiators employed by industry leaders, facilitating informed competitive intelligence.
- Customization Options Based on Specific Requirements
- Understanding that each client has unique needs, we offer flexible customization options. This includes deeper dives into specific segments, additional country-level data, competitive intelligence on unprofiled companies, or an extended forecast period. Our aim is to provide tailored research solutions that directly address your specific business questions and strategic objectives.
Recent Industry Insights
The Recycled PET Bottle Flake Food Grade industry trends over the last 12-18 months reflect a strong push towards circularity and sustainability. Major developments include significant investments in advanced recycling facilities, particularly for chemical recycling, aimed at increasing the supply of high-quality food-grade rPET. Brand owners are accelerating their commitments to incorporate higher percentages of recycled content, driving strategic partnerships with recyclers to secure feedstock. Regulatory bodies globally are introducing stricter mandates for recycled content, further stimulating market growth and innovation. Furthermore, there's been a notable increase in cross-industry collaborations to improve collection infrastructure and sorting technologies. These insights underscore a dynamic market responding actively to environmental pressures and evolving consumer demands for sustainable packaging solutions.
Key Market Developments
- November 2024: Indorama Ventures announced a significant expansion of its PET recycling capacity in Europe, aiming to produce more food-grade rPET flakes to meet rising demand.
- August 2024: ALPLA Group partnered with a leading beverage brand in North America to develop a closed-loop recycling system for PET bottles, enhancing the availability of food-grade rPET.
- June 2024: Veolia inaugurated a new state-of-the-art plastic recycling plant in France, focusing on advanced processing of PET waste into high-quality flakes suitable for food packaging.
- March 2024: Far Eastern New Century Corporation launched new sustainable packaging solutions utilizing 100% food-grade rPET in Asia Pacific, catering to eco-conscious consumers.
- January 2024: Several major CPG companies in the United States committed to increasing their use of recycled PET content beyond current targets, signaling strong future demand for food-grade flakes.
Analyst Opinion
The Recycled PET Bottle Flake Food Grade market outlook remains highly positive, driven by an undeniable global shift towards sustainability and circular economy principles. The market's attractiveness is underpinned by strong regulatory tailwinds, aggressive corporate sustainability targets, and increasing consumer demand for eco-friendly products. Competitive intensity is moderately high, with established players leveraging scale and technology, while innovative startups carve out niches with advanced recycling solutions. The demand-supply balance is currently experiencing a tight squeeze, particularly for high-quality food-grade rPET, as demand outstrips the available supply of suitable post-consumer PET feedstock. This imbalance creates opportunities for investments in collection, sorting, and processing infrastructure, especially in regions with nascent recycling ecosystems. Companies capable of ensuring consistent quality and volume, while navigating complex regulatory landscapes, are poised for significant growth. The imperative to reduce virgin plastic consumption and mitigate environmental pollution ensures that this market will remain a critical focus for both industry and policymakers globally.
Looking ahead, the long-term outlook for the Recycled PET Bottle Flake Food Grade market is robust, with continuous innovation driving its evolution. The innovation landscape is rich with advancements in chemical recycling technologies, which promise to unlock new sources of feedstock and deliver rPET with virgin-like properties, expanding application possibilities. Key risk factors include the volatility of virgin PET prices, which can impact the economic viability of rPET, and potential regulatory changes that could alter market dynamics. Furthermore, challenges related to scaling up collection infrastructure and ensuring consistent quality of feedstock remain pertinent. Strategic implications for market participants involve prioritizing R&D in advanced recycling, forging strong partnerships across the value chain, and investing in regional collection and processing capabilities to secure supply. Adapting to evolving consumer preferences and regulatory requirements will be crucial for sustained success, as the market moves towards greater integration and efficiency in its pursuit of a truly circular plastics economy.