Rimac Nevera R Sets 24 World Records and Reclaims 0–400–0 Title
TheRimac Nevera Rhas shattered expectations by setting 24 new performance records, reclaiming the title for fastest 0–400–0 km/h time at 25.79 seconds, beating its predecessor by over four seconds. The track-dominating electric hypercar now holds the crown as the world's quickest accelerating production vehicle.
Powered by a 2,107 hp quad-motor system and a recalibrated torque vectoring setup, the Nevera R hits 0–60 mph in just 1.66 seconds and tops out at 431.45 km/h (268.2 mph). Other benchmarks include 0–100 km/h in 1.72 seconds, 0–300 km/h in 7.89 seconds and a quarter-mile time of 7.90 seconds. Key upgrades include a re-engineered aerodynamic package with 15% more downforce, new Michelin Cup 2 tires and a 10% boost in aerodynamic efficiency.
The Nevera R also introduces improved traction, cornering grip and braking power, showcased by its blistering 0–100–0 km/h stop in 3.32 seconds. The new record marks a major leap from the originalNevera, which previously held 23 records in a single day.
Only 40 units of the Nevera R will be built, priced from €2.3m EUR ($2,689,335 USD). According to CEO Mate Rimac, 'Breaking records is in our DNA—and we won't stop here.' With Nürburgring and Goodwood benchmarks already in its crosshairs, the Nevera R is poised to dominate further.
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AM Best Assigns Credit Ratings to China United Property Insurance Company
HONG KONG--(BUSINESS WIRE)-- AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of 'a' (Excellent) to China United Property Insurance Company (CUPI) (China). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect CUPI's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favourable business profile and appropriate enterprise risk management. The ratings also reflect the expected government support CUPI will receive from its ultimate parent, China Investment Corporation (CIC), the sovereign wealth fund of the Chinese government. CUPI's very strong balance sheet strength assessment is underpinned by its very strong level of risk-adjusted capitalisation, as measured by Best's Capital Adequacy Ratio (BCAR), which is projected to remain at a similar while declining level over the short to intermediate term. The company maintains a sizeable capital and surplus of RMB 18.5 billion (USD 2.53 billion) as of year-end 2024 based on AM Best calculation. The company's comprehensive solvency ratio under C-ROSS Phase II was significantly improved and its financial flexibility was enhanced following the successful issuance of a RMB 6 billion capital supplementary bond in late 2024, while the financial leverage remained at a neutral level. CUPI's investment portfolio is diversified, primarily consisting of bonds (including bond funds), cash and deposits, as well as listed equities. The company has moderate exposure in the real estate sector and a controlled growth into riskier investment types. Offsetting factors include its relatively high underwriting leverage compared to domestic peers of similar size, its large outstanding premium receivables on its balance sheets predominantly due to policy-driven agriculture insurance business and its exposure to impairments of some legacy investment. CUPI has remained profitable over the last five years, delivering an annual return on equity in the mid-single-digit range. While the company historically maintains a slightly higher-than-industry growth, which is driven by its non-motor lines of business, CUPI expects its future top-line growth to be largely in line with the industry. The company's profit was mainly supported by investment income, while its underwriting results were around breakeven. Its investment yield ranged in the low to mid-single-digit range over the last few years, exhibiting some volatility due to capital market conditions. Nonetheless, AM Best expects CUPI to continue delivering positive investment income to support its overall profitability. Overall, CUPI's operating performance is assessed as adequate. CUPI's favorable business profile is supported by its strong government connection, leading position in domestic agriculture insurance, diversified product offering and extensive distributional network. Incorporated in 1986, CUPI is the fifth largest non-life insurer in mainland China, with a market share of around 4% based on 2024 direct premium written. With a long operating history, CUPI has built strong underwriting know-how and customer servicing capabilities. Coupled with its strong ties across government levels, the company continues to maintain a leading position in policy-driven agriculture and short-term health insurance, which accounted for over 30% of its gross premium written in 2024. CUPI maintains a 12% market share in China's agriculture insurance market, which has become one of the largest agriculture insurance markets globally. The ratings also recognise the strategic importance of CUPI in providing nationwide inclusive agriculture insurance and support to the country's national strategies. AM Best believes there is a high likelihood that CIC will provide support to CUPI, if needed. CIC is equipped with sound credit fundamentals and abundant financial resources. AM Best expects CUPI to further benefit from CIC's implicit support, including operational, risk management, and corporate governance. Negative rating actions could occur if CUPI's balance sheet strength were to weaken significantly. A sustained deteriorating trend in underwriting and operating performance also may result in negative rating actions. Although unlikely in the short to intermediate term, positive rating actions could occur if the company demonstrates sustained improvement in balance sheet strength, via non-debt issuance source. Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
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Food Technology Market Size to Reach USD 538.47 Billion by 2034 Powered by Innovation in Food Processing and Sustainable Solutions
According to Towards FnB, the global food technology market size is calculated at USD 229.49 billion in 2025 and projected to hit around USD 538.47 billion by 2034, representing a healthy CAGR of 9.94% during the forecast period from 2025 to 2034. The food technology market is evolving rapidly with advancements in automation, AI, and sustainable practices shaping the future of food processing and delivery. Ottawa, Aug. 07, 2025 (GLOBE NEWSWIRE) -- The global food technology market size stood at USD 208.74 billion in 2024 and is predicted to surpass around USD 229.49 billion in 2025 to around USD 538.47 billion by 2034, growing at a CAGR of 9.94% from 2025 to 2034, according to study published by Towards FnB, a sister firm of Precedence Research. The market is observing a huge spike due to high investment in the food processing sector, helping to ensure the complete safety of the segment. Use of technologically advanced methods for food processing to ensure its complete safety is also helping the growth of the market. "The growing demand for sustainable, safe, and healthy food options is driving the food technology market forward. As consumer awareness increases, brands must adopt innovative technologies to stay competitive," said Vidyesh Swar, Principal Consultant at Towards FnB. Note: This report is readily available for immediate delivery. We can review it with you in a meeting to ensure data reliability and quality for decision-making. Access the Full Study Instantly | Download Sample Pages of the Report Now@ Market Overview Various factors today are helping the growth of the food technology market. The market is continuing to grow due to evolving technologies in the food domain for its safety. Innovation in food processing techniques is helping to enhance food safety and hygiene. Such innovations also help to enhance various other features, such as blockchain, to ensure a product's authenticity along with its traceability. The technology-driven segment also ensures the process is sustainable, as consumer awareness has compelled every domain to focus on eco-friendly practices. Hence, the food brands ensuring lower wastage and energy-efficient procedures during the manufacturing process are favored more compared to those following traditional practices. High investments in the food technology market for hygienic, innovative, and healthier solutions are also helping the growth of the market. Key Highlights of the Food Technology Market By region, Asia Pacific led the food technology market with largest market share of 32% in 2024. By region, North America is expected to grow in the foreseeable period due to evolving technological standards in the region. By component, the hardware segment captured the maximum market share of 43% in 2024. By component, the software segment is expected to grow at the fastest CAGR of 11.3% in the foreseeable period. By application, the food science segment registered the maximum market share of 27% in 2024. By application, the delivery segment is expected to grow at the noteworthy CAGR of 11.2% during the forecast period. By industry, the fish, meat, and seafood segment dominated the food technology market with maximum market share of 20% in 2024. By industry, the dairy products segment is expected to grow in the foreseeable period due to increasing demand for dairy products globally. Role of AI in Food Technology Market: Artificial Intelligence (AI) is transforming the food technology market by enhancing efficiency, safety, and personalization across the supply chain. From precision agriculture and automated food processing to predictive maintenance and demand forecasting, AI enables smarter decision-making and resource optimization. In R&D, AI accelerates product development by analyzing consumer preferences and nutritional data to create healthier, market-aligned products. It also improves food safety through real-time monitoring and quality control. Moreover, AI-driven platforms help companies reduce waste, improve traceability, and adapt quickly to changing market demands making it a core enabler of innovation in the evolving food tech landscape. Case Study: Chef Robotics – Revolutionizing Food Manufacturing Company OverviewChef Robotics is a leading U.S.-based technology company specializing in AI-powered robotic systems for food preparation and packaging. The company's solutions aim to streamline food production, reduce labor costs, and improve food safety and quality in the manufacturing process. Project OverviewIn 2025, Chef Robotics deployed AI-driven robotic arms and smart algorithms to automate food prep and packaging for major brands like Amy's Kitchen and Sunbasket. These robots are capable of adapting to various food production tasks, ensuring faster, safer, and more accurate food handling. Measurable Outcomes 44 million food servings processed with AI robots in the first year. Reduced labor costs by 25% in pilot operations. 30% reduction in food waste through AI-driven ingredient optimization. Enhanced food safety standards, reducing contamination risks. Strategic Impact Chef Robotics' technology supports sustainability in food manufacturing by reducing waste and energy consumption. It helps companies scale production while maintaining high standards for food quality and safety, aligning with industry demands for eco-friendly practices and efficiency. Key Insight This case demonstrates how AI and robotics can dramatically improve production efficiency, food safety, and sustainability, offering businesses a competitive edge in the rapidly evolving food technology market. Top 4 Countries in Food Technology Market: United States The U.S. leads in food tech innovation with strong investment in AI, robotics, and alternative proteins. Startups and tech giants drive advancements in smart farming, food delivery, and lab-grown meat. Consumer demand for plant-based, sustainable, and health-focused products fuels rapid innovation. Regulatory support and venture capital strengthen the food tech ecosystem nationwide. India India's food tech market is booming due to rising smartphone use, online food delivery, and urbanization. Startups are integrating AI, IoT, and blockchain for traceability, supply chain efficiency, and quality control. Government schemes like 'Startup India' support agri-tech and food processing innovation. Focus is growing on automation in processing and tech-driven supply chain improvements. Japan Japan emphasizes food robotics, AI-based quality control, and automation to address labor shortages and aging population. The market is mature with ongoing innovation in smart packaging, food preservation, and sustainable ingredients. Consumer interest in functional foods and precision nutrition supports continued growth. Government and industry partnerships fuel R&D in smart food systems. Germany Germany focuses on sustainable food tech, including vertical farming, food waste reduction, and alternative proteins. Strong academic and industrial collaboration supports biotech-driven food innovation and digitized supply chains. Emphasis on regulatory compliance and traceability drives investment in AI and blockchain and traditional companies are increasingly adopting automation and smart packaging solutions. What are Latest Trends in the Food Technology Market? High demand for personalized nutrition as per one's body requirements and genetics is helping the growth of the market. In such situations, driven algorithms help one to get a customized nutrition plan to fulfill physical goals with ease and knowledge. High demand for plant-based food and protein options is another factor helping the food technology market grow. In such instances, natural and clean-label processes ensuring complete food safety help to give a push to the market. Rising demand for transparency, food safety, sustainability, and the use of eco-friendly methods for food processing, along with their traceability, is also helping the growth of the food technology market. Recent Developments in the Food Technology Market In August 2025, Nurasa, a Singapore-based food technology company, announced its partnership with Protein Industries Canada to help Canadian companies expand in the fast-growing Asia Pacific market. The partnership is anchored by the Asia Pacific Market Entry Program with the aim of strengthening the plant-based food segment by entering its Mecca for a huge positive response. (Source- In March 2025, India's Pondicherry University launched an extrusion hub to support women entrepreneurship in food science and promote sustainable farming techniques as well. The extrusion method helps in producing various types of food products with ease and in a sustainable manner. (Source- Such strategic collaborations between governments and private sector companies are paving the way for global food technology advancements, particularly in sustainable and alternative protein solutions. View Full Market Intelligence@ Market Dynamics What are the Growth Drivers of the Food Technology Market? There are multiple factors helping the growth of the food technology market in recent times. The growing population fueling the demand for food is one of the major growth factors of the food technology market. Reducing food wastage, enhancing cultivation, and improving food distribution are some of the beneficial factors of food technology, helping the growth of the market. The technological advancement in the domain is also essential for enhanced convenience. The growing population fueling the demand for online food ordering is also leading to the growth of the market in the form of easy online ordering through multiple online platforms, ensuring clean and hygienic methods are used to deliver the food in the earliest possible time. With the food technology sector growing at a CAGR of 9.94%, now is an ideal time for investors to explore high-growth opportunities in plant-based food, AI-driven food safety, and digital transformation within the food supply chain. Challenge Disturbances in the Food Supply Chain may Restrain the Market's Growth Issues such as health hazards spread in a region, political issues, climatic conditions, and various similar problems may affect the food supply chain, hampering the growth of the food technology market. Hence, to deal with such issues, strong communication between farmers, the government, food organizations, and retailers is essential to have real-time monitoring over supply and production, along with handling such scenarios without any issues in the food supply chain with ease. Opportunity Use of Advanced Technology and Robotics is helping the Growth of the Market in the Expected Timeframe. Use of advanced technology and robotics is one of the major opportunities for the growth of the food technology market. The technology helps in managing various aspects of the food domain, such as packaging, managing stocks, and various similar procedures, to lower the chances of any issues. Advanced technology also helps in managing various other procedures of the domain, such as slicing, mixing, blending, cutting, and various essential procedures that are part of the whole segment. Evolving technology also helps in eliminating the obstacles faced by the food supply chains to maintain regularity and aid in the growth of the market. Food Technology Market Regional Analysis Which Region Dominated the Food Technology Market in 2024? Asia Pacific dominated the food technology market in 2024 due to an array of growth-aiding reasons. A growing population, high demand for online food delivery applications, and the growth of e-commerce platforms are some of the major factors helping the growth of the food technology market in the region. High demand for online food and grocery delivery platforms for the enhanced convenience of consumers is the major factor affecting the market's growth. Improving food technology, helping in delivering, processing, and storing food products, is a major factor helping the growth of the market in the region. How is North America Growing in the Food Technology Market? North America is expected to grow in the forecast period due to multiple reasons, helping the growth of the food technology market. AI and ML, evolving technological options, and the use of the software segment for the market's growth are some of the essential factors contributing to the region's market growth in the foreseeable period. The rising number of restaurants, cafes, and food outlets in the region is another major factor helping the growth of the market in the foreseeable period. Food Technology Market Report Scope Report Attribute Key Statistics Base Year 2024 Forecast Period 2025 to 2034 Growth Rate from 2025 to 2034 CAGR of 9.94% Market Size in 2024 USD 208.74 Billion Market Size in 2025 USD 229.49 Billion Market Size by 2034 USD 538.47 Billion Dominated Region Asia Pacific Fastest Growing Region North America Regions Covered North America, Europe, Asia-Pacific, Latin America and Middle East & Africa Have Questions? Let's Talk—Schedule a Meeting with Our Insights Team: Food Technology Market Segmental Analysis Component Analysis The Hardware Segment Dominated the Food Technology Market in 2024 The hardware segment of the food technology market dominated in 2024 due to multiple factors helping the growth of the market. The hardware segment includes cooking robots, self-order kiosks, voice assistants, and various similar facilities, helping the growth of the market. Such facilities are available in restaurants, cafes, and high-end food outlets for the convenience of customers and the restaurant owners. The segment also helps to pay attention to the hygiene and safety of the food products, helping the market's growth. The software segment is expected to grow in the expected timeframe due to the high demand for online food and grocery ordering applications, serving convenience to customers, and helping the growth of the food technology market. The segment also includes chatbots, restaurant reservation platforms, and online food and grocery delivery applications. Advanced technology is further fueling the growth of the market by utilizing AI algorithms and ML. Application Analysis The Food Science Segment Dominated the Food Technology Market in 2024 The food science segment dominated the food technology market in 2024 due to its high importance in the era of a growing population, fueling the demand for online food delivery applications for the convenience of consumers. The food science segment ensures the complete safety, hygiene, and convenience of various food options. The segment also ensures the growing demand for health-conscious food habits of consumers, high demand for plant-based foods, and growing veganism. High investments in food technology are also helping the growth of the market in the form of availability of clean-label-based food options, alternatives to dairy and protein, and other similar innovative options. The delivery segment is expected to boom in the foreseen period due to high usage of food delivery applications and various online delivery platforms, helping the growth of the food technology market. The growing population today has shifted to ordering food online on various available platforms for enhanced convenience and ease. Hence, the segment is observed to enable the growth of the food technology market in the expected timeframe. Industry Analysis The Fish, Meat, and Seafood Segment dominated the Food Technology Market in 2024 The fish, meat, and seafood segment dominated the food technology market in 2024 due to its high demand globally by consumers from all age groups. Fish and other seafood are essential for health and are beneficial for the human body in the form of improved cognitive functions, improved heart health, and improved skin texture as well. The segment also helped in the growth of the food technology market by enhancing the consumer base among health-conscious people and people related to health and fitness. The dairy product segment is helping the growth of the food technology market in the foreseeable period due to its high demand by the growing population globally. Different types of dairy products, such as butter, cheese, curd, clarified butter, buttermilk, and other similar products, form a part of the daily meals of people globally. Hence, its high demand is helping the growth of the market in the foreseen period as it requires ideal preservation and storage for the timely supply of products in their fresh and ideal state to avoid staling. Feel Free to Get in Touch with Us for Orders or Any Questions at: sales@ Additional Topics Worth Exploring: Food and Beverage Industry Pumps Market: The global food and beverage industry pumps market size is expected to grow from USD 11.65 billion in 2025 to USD 22.57 billion by 2034, at a CAGR of 7.63% over the forecast period from 2025 to 2034. Smart Food Packaging Market: The global smart food packaging market size is projected to expand from USD 28.12 billion in 2025 to USD 48.73 billion by 2034, growing at a CAGR of 6.3% during the forecast period from 2025 to 2034. AI in Food and Beverages Market: The global AI in food and beverages market size is expected to grow from USD 16.36 billion in 2025 to USD 320.94 billion by 2034, at a CAGR of 39.2% over the forecast period from 2025 to 2034. Food Grade Lubricants Market: The global food grade lubricants market size increasing from USD 491.01 million in 2025 to USD 1,120.43 million by 2034, driven by a CAGR of 9.6% during the forecast period from 2025 to 2034. Food Automation Market: The global food automation market size is set for steady growth increasing from USD 14.92 billion in 2025 to USD 28.61 billion by 2034, with a CAGR of 7.5% during the forecast period from 2025 to 2034. 3D Food Printing Market: The global 3d food printing market size is projected to expand from USD 535.08 million in 2025 to USD 7,605.04 million by 2034, growing at a CAGR of 34.3% during the forecast period from 2025 to 2034. Food Processing Market: The global food processing market size is projected to grow from USD 177.56 billion in 2025 to USD 318.29 billion by 2034, reflecting a CAGR of 6.7% over the forecast period from 2025 to 2034. Food Processing Blades Market: The global food processing blades market size was calculated at USD 1.05 billion in 2024 and is anticipated to reach USD 2.46 billion by 2034, growing at a CAGR of 8.9% during the forecast period from 2025 to 2034. Food Technology Market Top Companies Delivery Hero SE HelloFresh SE Swiggy Flytrex Inc. TRAX IMAGE RECOGNITION CUBIQ FOODS LUNCHBOX Miso Robotics Carlisle Technology Nymble (Epifeast Inc.) Segments Covered in the Report By Component Hardware Software Services By Application Food Science Kitchen & Restaurant Tech Delivery Supply Chain Others By Industry Fish, Meat, and Seafood Fruits and Vegetables Grain and Oil Dairy Products Beverages Bakery and Confectionery Others By Region North America U.S. Canada Asia Pacific China Japan India South Korea Thailand Europe Germany UK France Italy Spain Sweden Denmark Norway Latin America Brazil Mexico Argentina Middle East and Africa (MEA) South Africa UAE Saudi Arabia Kuwait Thank you for exploring our insights. For more targeted information, customized chapter-wise sections and region-specific editions such as North America, Europe, or Asia Pacific—are also available upon request For Detailed Pricing and Tailored Market Report Options, Click Here: Feel Free to Get in Touch with Us for Orders or Any Questions at: sales@ Unlock expert insights, custom research, and premium support with the Towards FnB Annual Membership. For USD 495/month (billed annually), get full access to exclusive F&B market data and personalized guidance. It's your strategic edge in the food and beverage industry: About Us Towards FnB is a global consulting firm specializing in the food and beverage industry, providing innovative solutions and expert guidance to elevate businesses. With an in-depth understanding of the dynamic F&B sector, we deliver customized market analysis and strategic insights. Our team of seasoned professionals is committed to empowering clients with the knowledge needed to make informed decisions, ensuring they stay ahead of market trends. Partner with us as we redefine success in the rapidly evolving food and beverage landscape, and together, we'll navigate this transformative journey. 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Recycled PET rPET Market 2025 on Track for USD 26.78 Billion by 2034 Amid Green Push
According to Towards Packaging consultants, the global recycled polyethylene terephthalate (rPET) market is projected to reach approximately USD 26.78 billion by 2034, increasing from USD 11.76 billion in 2024, at a CAGR of 8.53% during the forecast period 2025 to 2034. Ottawa, Aug. 07, 2025 (GLOBE NEWSWIRE) -- The global recycled polyethylene terephthalate (rPET) market size stood at USD 12.76 billion in 2025 and is projected to reach USD 26.78 billion by 2034, according to a study published by Towards Packaging, a sister firm of Precedence market is experiencing robust growth driven by increasing environmental awareness, government regulations promoting plastic recycling, and rising demand for sustainable packaging solutions. Industries such as food and beverage, personal care, and textiles are widely adopting recycled polyethylene terephthalate (rPET) due to its cost-effectiveness and reduced carbon footprint. Technological advancements in recycling methods, such as mechanical and chemical recycling, are enhancing the quality and application range of rPET products. Additionally, growing consumer preference for eco-friendly and recyclable products is encouraging manufacturers to shift toward rPET-based packaging. The market is also benefiting from corporate sustainability initiatives and collaborations focused on building circular economies. What is Recycled Polyethylene Terephthalate (rPET)? Recycled polyethylene terephthalate is a type of plastic material that is produced by recycling used PET (Polyethylene Terephthalate) products, such as water bottles, food containers, and other consumer packaging. PET is a lightweight, strong, and clear plastic commonly used in packaging because of its durability and safety. When these products are collected and processed through mechanical or chemical recycling methods they are transformed into rPET which can be reused in manufacturing new packaging materials. rPET significantly helps reduce plastic waste and reliance on virgin plastic, making it a more sustainable alternative. In packaging, rPET retains the same functional benefits as PET, such as strength, clarity, and resistance to moisture, while contributing to lower environmental impact. It supports circular economy practices, reduces carbon emissions, and meets the rising consumer and regulatory demand for eco-friendly packaging solutions. What Are the Latest Trends in the Recycled Polyethylene Terephthalate Market? Regulatory mandates tighten fast: Governments, including the EU and India, are enforcing stricter minimum recycled content and deposit schemes, forcing brands to adopt rPET or risk non‑compliance fines. Virgin PET undercuts rPET: With oil prices low and subsidies in place, cheapest virgin PET remains hard to beat, rPET loses price competitiveness unless scaled efficiently. Contamination chaos in feedstock: Poor segregation infrastructure and mixed waste streams result in quality issues that limit rPET's usage in food‑grade packaging. Discoloration dents consumer trust: Tinted, inconsistent, or murky rPET scares consumers even when functionally safe, undermining brand credibility. R&D dependency grows: Chemical and molecular recycling innovation is essential to address quality and feedstock limitations, but requires massive capital investment and time. Bottle‑to‑fabric competition intensifies: Demand from textile fiber makers (e.g., Repreve) is pushing rPET supply away from bottle‑to‑bottle recycling, driving up feedstock costs. Textile recycling threatens scale: The push toward textile‑to‑textile recycling may fragment rPET availability for packaging unless policy aligns feedstock flows. Enzymatic and advanced chemical recycling rise The commercialization of enzymatic PET recycling (e.g., Carbios in France) enables closed-loop recycling of colored or multilayer plastics, traditionally unrecyclable by mechanical methods. Micro‑recycling facilities Demand surges for decentralized micro-processing hubs and AI-powered optical sorting to improve feedstock purity, reduce contamination, and enable rural access. Color-specific rPET for brand differentiation Upgraded near-infrared sorting and specialized color additives now support neon and custom‑tinted rPET lines for aesthetic packaging and decorative applications. Supply diversification to non‑packaging and textile applications Expanded rPET usage in automotive interiors, electronics casings, home goods, and textile fibers (e.g., Repreve), creating both positive demand and potential supply competition. Infrastructure scale-up in emerging markets Governments and brands in Asia-Pacific, India, and Africa are investing heavily in collection systems, recycling networks, and regulatory mandates, for example, India's FSSAI and recycled content rules starting April 2025. Digital traceability and supply chain transparency Blockchain and QR-based tracking systems are becoming common to authenticate recycled content and combat contamination, empowering consumers and regulators. Corporate circularity and collaborations intensify. Major players like Indorama Ventures, Coca‑Cola, PepsiCo, and TotalEnergies are forming alliances, launching circular‑hub plants, and committing to high rPET content in is the Potential Growth Rate of the Recycled Polyethylene Terephthalate Market? Environmental awareness and consumer pressure Growing concerns about plastic pollution are pushing consumers and businesses toward sustainable packaging alternatives. This demand is fueling widespread adoption of rPET, especially in food, beverage, and personal care products. Government support and regulatory mandates Governments worldwide are enforcing policies like minimum recycled‑content mandates, deposit return schemes, extended producer responsibility (EPR), and procurement rules to boost rPET use in packaging. Corporate sustainability commitments Major brands such as Coca‑Cola, PepsiCo, Nestlé, Unilever, Evian, and others have pledged to incorporate significant recycled content in packaging, creating consistent, large-scale demand for rPET. Limitations and Challenges in the Recycled Polyethylene Terephthalate Market Limited Availability of High-Quality Feedstock and Quality and Performance Limitations The key players operating in the market are facing issues due to quality limitations and limited availability of high-quality feedstock. Contamination in post-consumer plastic waste (like food residues, mixed materials, and colors) makes it difficult to obtain clean PET for recycling, especially for food-grade applications. Virgin PET is often cheaper to produce, especially when oil prices are low, making rPET less economically attractive without subsidies or mandates, particularly in cost-sensitive markets. Recycled PET may show inferior mechanical properties, such as reduced strength and clarity, which limits its use in high-end or technical applications like pharmaceuticals or premium packaging. In many regions, particularly developing countries, recycling infrastructure is underdeveloped. Poor collection systems and limited technology reduce rPET availability and quality. More Insights of Towards Packaging: Multilayer PET Bottles Market - The multilayer PET bottles market is forecast to grow from USD 10.73 billion in 2025 to USD 18.02 billion by 2034, driven by a CAGR of 5.93% from 2025 to 2034. PET/EVOH/PE Packaging Materials Market - The global PET/EVOH/PE packaging materials market is expected to increase from USD 197.64 million in 2025 to USD 281.79 million by 2034. PET Packaging in Pharmaceutical Market - The PET packaging in the pharmaceutical market is accelerating, with forecasts predicting hundreds of millions in revenue growth between 2025 and 2034. Leak-Proof Flexible Packaging Market - The leak-proof flexible packaging market is booming, poised for a revenue surge into the hundreds of millions from 2025 to 2034. North America Packaging Market - The North America packaging market is forecasted to expand from USD 333.86 billion in 2025 to USD 488.92 billion by 2034, growing at a CAGR of 4.33% from 2025 to 2034. Glass-to-Plastic Packaging Market - The glass-to-plastic packaging market is booming, poised for a revenue surge into the hundreds of millions from 2025 to 2034. Recycled Packaging for Apparel Market - The recycled packaging for the apparel market is booming, poised for a revenue surge into the hundreds of millions from 2025 to 2034. Cellulose Film Packaging Market - The cellulose film packaging market is forecast to grow from USD 940.11 million in 2025 to USD 1532.98 million by 2034, driven by a CAGR of 5.63% from 2025 to 2034. Sustainable Minimalistic Tableware Packaging Market - The global sustainable minimalistic tableware packaging market is booming, poised for a revenue surge into the hundreds of millions from 2025 to 2034. Stretch Wrap Packaging Market - The global stretch wrap packaging market is booming, poised for a revenue surge into the hundreds of millions from 2025 to 2034. Regional Analysis: Who is the Leader in the Recycled Polyethylene Terephthalate Market? Asia Pacific dominates the recycled polyethylene terephthalate market due to several key factors. Rapid urbanization, rising population, and increasing consumption of packaged food and beverages have led to high PET usage and a growing demand for sustainable packaging. Countries like China, India, and Japan have established large-scale recycling infrastructures and are investing heavily in advanced recycling technologies. Government initiatives promoting plastic waste reduction and circular economy practices further support market growth. Additionally, the presence of major textile and packaging industries in the region boosts demand for rPET in various applications, including fabrics and containers. Cost-effective labor and manufacturing advantages also make Asia-Pacific a global hub for rPET production and export, contributing to its dominant market position. China Market Trends China is the largest consumer and producer of rPET in Asia-Pacific. The country has an extensive plastic collection and recycling network, supported by government initiatives aimed at reducing plastic waste. China's vast textile industry also drives demand for rPET fibers. Despite the "National Sword" policy banning foreign waste imports, domestic recycling has grown stronger and more regulated. India Market Trends India is rapidly emerging in the rPET market due to its growing packaged goods sector, supportive recycling regulations (e.g., Extended Producer Responsibility), and rising environmental awareness. The Food Safety and Standards Authority of India (FSSAI) now allows the use of rPET in food packaging, boosting local demand and domestic recycling efforts. Japan Market Trends Japan has one of the highest PET bottle recycling rates globally, exceeding 85%. The country excels in waste segregation and uses advanced recycling technologies. Strict environmental regulations and strong consumer participation support its rPET market. Japan also exports high-quality recycled resin, especially for textile and packaging use. South Korea Market Trends South Korea has a well-structured waste management system and is investing in high-tech recycling solutions. Its focus on smart cities and sustainable development encourages greater use of rPET, particularly in consumer goods packaging and electronics. Indonesia Market Trends Indonesia is expanding its rPET capacity with foreign investments and public-private partnerships. Initiatives such as the National Plastic Action Partnership aim to reduce ocean plastic and improve plastic circularity, helping Indonesia grow as a key rPET player in Southeast Asia. How is the Opportunistic Rise of North America in the Recycled Polyethylene Terephthalate Market? North America is the fastest-growing region in the recycled polyethylene terephthalate market due to strong regulatory support, rising consumer demand for sustainable products, and increasing investment in advanced recycling technologies. Governments and states are implementing strict policies on single-use plastics and promoting minimum recycled content in packaging. Major brands are committing to circular economy goals, driving up the demand for rPET in food, beverage, and personal care industries. Additionally, the region benefits from improved recycling infrastructure, public-private partnerships, and innovation in chemical recycling methods, which enhance the quality and versatility of rPET, accelerating market growth across various sectors. U.S. Market Trends The U.S. leads rPET market growth in North America, driven by aggressive sustainability goals from large corporations like Coca-Cola, PepsiCo, and Nestlé USA, which are pushing for higher recycled content in packaging. Multiple states, such as California and New York, have enacted laws requiring minimum percentages of rPET in beverage containers. Investments in advanced mechanical and chemical recycling facilities, along with support from the U.S. Environmental Protection Agency (EPA), are accelerating innovation. Consumer awareness and demand for eco-friendly products further boost rPET usage across industries. Canada Market Trends Canada is rapidly advancing in plastic waste reduction policies, especially through its Zero Plastic Waste initiative and national ban on certain single-use plastics. Provinces like British Columbia and Ontario have strong Extended Producer Responsibility (EPR) frameworks, encouraging companies to incorporate rPET in their products. Canadian retailers and brands are also shifting toward circular packaging, increasing domestic demand. The government's collaboration with recycling companies to enhance infrastructure and technology further strengthens Canada's rPET market growth. How Big is the Success of the European Recycled Polyethylene Terephthalate Market? Europe is experiencing notable growth in the recycled polyethylene terephthalate market due to stringent environmental regulations, strong political commitment to sustainability, and widespread consumer demand for eco-friendly packaging. The European Union's directives, such as the Single-Use Plastics Directive and the Packaging and Packaging Waste Regulation, mandate minimum recycled content in plastic bottles and promote a circular economy. Countries like Germany, France, and the Netherlands have highly efficient waste collection and sorting systems that ensure a steady supply of high-quality PET waste for recycling. Many European brands and retailers are committing to carbon-neutral goals and incorporating more rPET in their products. Investment in advanced recycling technologies and cross-border recycling collaborations further supports market growth across the region, making Europe a leader in sustainable plastic innovation. How Crucial is the Role of Latin America in the Recycled Polyethylene Terephthalate Market? Latin America is growing at a notable rate in the recycled polyethylene terephthalate market due to increasing awareness about plastic pollution, rising demand for sustainable packaging, and supportive government initiatives. Countries like Brazil, Mexico, and Chile are leading the way with strong bottle-to-bottle recycling programs and partnerships between private companies and local governments. The expansion of collection systems and investment in recycling infrastructure are improving the quality and availability of PET feedstock. Major global beverage and consumer goods companies operating in the region are committing to sustainability targets, driving demand for rPET. Growing participation from informal recycling sectors and public education campaigns is also helping improve recycling rates, making Latin America an emerging and important player in the global rPET market. How does the Middle East and Africa lead the Recycled Polyethylene Terephthalate Market? The Middle East and Africa (MEA) presents a rising opportunity for the recycled polyethylene terephthalate market, thanks to growing consumer demand for packaged goods, expanding recycling infrastructure, and supportive government initiatives. Rapid urbanization and rising disposable incomes, particularly in Saudi Arabia, UAE, and Egypt, are fueling demand for bottled beverages and on‑the‑go food products, driving rPET uptake in packaging. Governments in the Gulf, including the UAE's Circular Economy Policy and Abu Dhabi's 'Mission to Zero,' are incentivizing rPET adoption through regulations, certification schemes, and reverse vending systems. Major recycling collaborations, such as partnerships involving Veolia, Bee'ah, and Agthia, plus investment in new food‑grade rPET plants, are strengthening local capacity and supply stability. Meanwhile, Saudi Arabia is leading regional growth, backed by substantial funding and new recycling facilities targeting high post-consumer PET Outlook Source Insights The bottles and containers segment is the dominant part of the recycled polyethylene terephthalate market because of its high demand in the food, beverage, and personal care industries. rPET is widely used to make water bottles, soft drink containers, and packaging for shampoos and detergents due to its strength, clarity, and safety for food contact. With increasing environmental concerns, many brands are choosing rPET for packaging to reduce plastic waste and meet sustainability goals. The films and sheets segment is the fastest-growing part of the recycled polyethylene terephthalate market due to its increasing use in packaging, agriculture, construction, and electronics. rPET films and sheets are lightweight, strong, and recyclable, making them a popular choice for flexible packaging, protective coverings, and insulation materials. Many industries are switching to rPET-based films to reduce plastic waste and meet sustainability targets. In food packaging, rPET sheets help keep products fresh while being safe for contact with food. The demand is also growing in electronics and automotive applications where clear, durable, and cost-effective materials are needed. As more companies and governments support eco-friendly materials, rPET films and sheets are being used more widely, driving rapid growth in this segment. Grade Insights The Grade A segment is the dominant part of the recycled polyethylene terephthalate market because it offers the highest quality and purity. It is mostly used in food and beverage packaging since it meets safety standards for direct contact with food. Grade A rPET is clear, strong, and looks almost like new plastic, making it ideal for making bottles and containers. Many global brands prefer Grade A rPET to meet their sustainability goals while maintaining product quality and safety. The Grade B segment is the fastest-growing part of the recycled polyethylene terephthalate market because it is more affordable and suitable for non-food applications. It is commonly used in textiles, strapping, automotive parts, and construction materials where high purity is not required. As demand rises for cost-effective recycled materials in these industries, Grade B rPET becomes a popular choice. Its growing use in developing countries and for industrial purposes is helping this segment expand quickly in the global market. Form Insights The rPET flakes segment dominates the recycled polyethylene terephthalate market due to its versatility, cost-effectiveness, and widespread application across various industries. These flakes are easy to produce and are widely used in manufacturing packaging materials, textile fibers, and automotive components. Their compatibility with existing production systems makes them a preferred choice for manufacturers seeking sustainable alternatives. Additionally, growing environmental regulations and consumer demand for eco-friendly products have increased the adoption of rPET flakes. Their consistent quality, recyclability, and availability further contribute to their dominance, making them a critical component in the global shift toward circular economy practices. The rPET chips segment is the fastest growing in the recycled polyethylene terephthalate market due to its high purity, superior quality, and increasing demand in high-end applications such as food-grade packaging and beverage bottles. These chips undergo advanced recycling processes, making them suitable for direct contact with consumables, aligning with stringent safety and regulatory standards. The rising emphasis on sustainability by major consumer goods companies is also driving demand for rPET chips. Additionally, technological advancements in bottle-to-bottle recycling and strong support from government initiatives promoting circular economy practices further accelerate the growth of this segment in the global market. By Product The clear segment is the dominant segment in the recycled polyethylene terephthalate market because clear PET is easier to recycle and retains a higher value after processing. It allows for greater flexibility in reuse, especially in food-grade applications, as it can be more easily converted into new clear or colored products. Clear rPET is widely used in the production of beverage bottles, containers, and packaging films because it provides a clean, transparent appearance that appeals to consumers and maintains product visibility. Brands prefer clear rPET as it closely resembles virgin plastic in both look and quality. Additionally, the recycling process for clear PET requires fewer additives and less processing than colored PET, making it more efficient and cost-effective, further supporting its dominant market position. The colored segment is the fastest-growing part of the recycled polyethylene terephthalate market due to its increasing use in non-food applications such as textiles, automotive parts, and industrial packaging. Colored rPET is more affordable than clear rPET and is suitable for products where appearance is less important. As industries look for cost-effective and eco-friendly materials, colored rPET is becoming a popular choice. Its growing acceptance in various sectors is helping this segment expand quickly in the global market. End-Use Insights The fibers segment is the dominant end-use segment in the recycled polyethylene terephthalate market because a large portion of recycled PET is used to produce polyester fibers for textiles. These fibers are widely used in clothing, home furnishings, carpets, and automotive upholstery due to their durability and low cost. The fashion and textile industries prefer rPET fibers as a sustainable alternative to virgin polyester. Increasing demand for eco-friendly fabrics and growing awareness of circular fashion further support the dominance of this segment. The food and beverage containers and bottles segment is the fastest-growing end-use segment in the recycled polyethylene terephthalate market due to increasing demand for sustainable packaging solutions. rPET is widely used to produce bottles and containers for water, soft drinks, juices, and packaged foods because it is safe, lightweight, and recyclable. Leading brands are adopting rPET packaging to meet environmental goals and comply with regulations on recycled content. Growing consumer awareness and preference for eco-friendly products further fuel the rapid growth of this Breakthroughs in the Global Market: In July 2025, Mediacor signed a collaboration with Amcor plc, a packaging company, to introduce a Two-liter spouted stand-up bag for liquids that is suitable for recycling in Austria, Germany, and Italy. The recently introduced packaging solution comes from the Nana brand from which sells eco-friendly cleaning supplies. In June 2025, Uflex, a flexible packaging company, revealed the introduction of a single-pellet solution that complies with FSSAI regulations for using recycled PET in packaging for food. This creative product combines virgin and recycled PET into a single pellet, similar to simplifying the procedure for the use of recycled materials in their packaging in order to comply with the Extended Guidelines for Producer Responsibility. In March 2025, Borealis GmbH, a chemicals company, revealed the launch of the Borcycle M CWT120CL, linear low-density polyethylene (rLLDPE) that has been recycled 85% post-consumer recyclable, made for flexible packaging applications other than food. Access our exclusive, data-rich dashboard dedicated to the Recycled Polyethylene Terephthalate (rPET) Market – built specifically for decision-makers, strategists, and industry leaders. The dashboard features comprehensive statistical data, segment-wise market breakdowns, regional performance shares, detailed company profiles, annual updates, and much more. From market sizing to competitive intelligence, this powerful tool is your one-stop solution and strategic gateway to navigating the global rPET market with confidence. Access Now: Recycled Polyethylene Terephthalate Market Players Placon Clear Path Recycling LLC Verdeco Recycling, Inc. Indorama Ventures Public Ltd. Zhejiang Anshun Pettechs Fibre Co., Ltd. PolyQuest Evergreen Plastics, Inc. Phoenix Technologies Libolon Biffa Recycled Polyethylene Terephthalate Market Segments By Source Bottles and Containers Films and Sheets Others By Grade Grade A Grade B By Form rPET Flakes rPET Chips By Product Clear Colored By End-Use Fibers Films and Sheets Strapping Food and Beverage Containers and Bottles Non-Food Containers and Bottles Others By Region North America U.S. Canada Europe Germany UK France Italy Spain Sweden Denmark Norway Asia Pacific China Japan India South Korea Thailand Latin America Brazil Mexico Argentina Middle East and Africa (MEA) South Africa UAE Saudi Arabia Kuwait Invest in Our Premium Strategic Solution: Become a Valued Research Partner with Us - Schedule a meeting: Request a Custom Case Study Built Around Your Goals: sales@ About Us Towards Packaging is a global consulting and market intelligence firm specializing in strategic research across key packaging segments including sustainable, flexible, smart, biodegradable, and recycled packaging. 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