Plastic Credit Market to Reach USD 1.79 Billion by 2031 | CAGR of 23.6% Driven by ESG and Circular Economy - Valuates Reports
Plastic Credit Market is Segmented by Type (Recycling Credits, Upcycling Credits), by Application (Packaging Industry, Electronics Industry).
BANGALORE, India, July 7, 2025 /PRNewswire/ -- The Plastic Credit Market was valued at USD 462 Million in the year 2024 and is projected to reach a revised size of USD 1790 Million by 2031, growing at a CAGR of 23.6% during the forecast period.
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Major Factors Driving the Growth of Plastic Credit Market:
The plastic credit market is rapidly evolving as a scalable, results-oriented solution to the global plastic waste crisis. As sustainability becomes integral to corporate strategy, credits offer companies a mechanism to balance usage with responsible disposal. Verified credits enable businesses to achieve plastic neutrality, enhance brand reputation, and comply with environmental regulations. The market's growth is supported by rising ESG demands, robust certification systems, technological innovations, and increased stakeholder engagement across industries. With expanding applications across electronics, FMCG, logistics, and retail, the market is expected to witness significant growth. As global collaboration deepens, plastic credits are set to play a central role in driving a circular and sustainable economy.
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TRENDS INFLUENCING THE GROWTH OF THE PLASTIC CREDIT MARKET:
Upcycling credits are becoming a transformative force in the plastic credit market by emphasizing high-value recovery of plastic waste. Unlike traditional recycling, upcycling converts discarded plastics into superior products, thereby increasing their economic and environmental value. This concept has gained traction among corporations seeking sustainable waste management solutions and ESG compliance. By purchasing upcycling credits, companies can demonstrate their commitment to circular economy principles, reduce their environmental footprint, and meet regulatory expectations. These credits also encourage innovation in material design, packaging, and reuse technologies, fostering industrial collaborations. The visibility and traceability of upcycling credits enhance transparency, attracting investment from environmentally-conscious stakeholders and significantly accelerating market growth across various sectors.
Recycling credits are a foundational component in the plastic credit market, incentivizing the recovery and reuse of post-consumer plastic waste. These credits allow companies to offset their plastic usage by funding third-party recycling projects or directly investing in plastic recovery initiatives. Governments and environmental organizations increasingly support credit-based frameworks as a tool to enforce Extended Producer Responsibility (EPR). This promotes transparency, accountability, and measurable impact across supply chains. As sustainability becomes a business imperative, corporations across sectors are integrating recycling credits into their ESG strategies. The expansion of certified recycling facilities and verification standards also strengthens trust in these credits, making them a crucial driver of market expansion globally.
The electronics industry contributes significantly to the plastic credit market due to its substantial use of plastic in devices, packaging, and accessories. As e-waste becomes a mounting concern, electronic manufacturers are under pressure to mitigate their plastic impact. Many are turning to plastic credits to demonstrate compliance with environmental regulations and reduce their ecological footprint. Through strategic partnerships with recyclers and waste management organizations, tech firms fund recovery and recycling initiatives in emerging markets. Additionally, industry giants have started using credits to promote the collection of difficult-to-recycle plastics, such as multi-layer laminates found in circuit boards. This industry's focus on sustainability accelerates the adoption of plastic credits, propelling market growth.
Corporations are increasingly aligning with sustainability goals and Environmental, Social, and Governance (ESG) frameworks, which fuels the plastic credit market. To mitigate plastic pollution, companies are adopting plastic neutrality through the purchase of credits. These credits help firms showcase environmental responsibility, enhance brand image, and appeal to eco-conscious consumers. Investors also prioritize ESG-compliant businesses, encouraging adoption. As industries strive to achieve zero-waste targets and transparent supply chains, plastic credits provide a verifiable mechanism to meet such goals. The integration of sustainability into procurement and manufacturing strategies is transforming the market landscape, with plastic credits emerging as a viable and scalable solution.
Stringent government policies on plastic waste management, including bans on single-use plastics and mandatory Extended Producer Responsibility (EPR), are compelling industries to offset their plastic use. Plastic credits offer a legal and efficient route to achieve compliance without compromising business operations. Regulatory authorities in regions such as the EU, India, and Southeast Asia are actively developing plastic credit mechanisms as part of national action plans. The ability of credits to be tracked, audited, and verified ensures that companies meet regulatory benchmarks transparently. As regulatory frameworks tighten, the demand for credible credit systems grows, positioning them as essential compliance tools in global markets.
The global shift toward a circular economy is reshaping how industries handle plastic waste, promoting reuse, recycling, and recovery. Plastic credits directly support these principles by creating financial incentives for stakeholders to recover plastic waste and reintegrate it into the value chain. NGOs, startups, and waste management companies participate in verified credit generation through innovative recovery projects. Corporations purchase these credits to close the loop on their plastic footprint. As awareness grows around resource conservation and climate impact, the synergy between circularity and credits is becoming a cornerstone of modern sustainability frameworks, leading to wider adoption across diverse industry verticals.
Today's consumers are more informed and environmentally conscious, pressuring brands to be transparent about their environmental impact. Companies are responding by incorporating plastic credits into their sustainability reporting and product packaging. Certifications indicating plastic neutrality or recycled content backed by verified credit purchases resonate with ethical consumers. This consumer-driven demand is especially influential in the retail, FMCG, and e-commerce sectors. Public campaigns and influencer-driven awareness are also shaping buying behavior, encouraging companies to actively seek credit solutions. As consumer trust becomes a competitive differentiator, plastic credits offer a practical path to meet environmental expectations and maintain customer loyalty.
The growth of voluntary environmental markets has opened new avenues for plastic credits to operate alongside carbon offsets. Many companies pursuing broader climate neutrality are integrating both carbon and plastic offsets into their sustainability portfolios. These voluntary initiatives offer flexibility and innovation in how companies meet their environmental targets. Platforms that track and trade verified plastic credits are emerging, providing visibility and standardization. The convergence of these markets enhances investment interest and cross-sector collaboration. As businesses become more proactive in managing their environmental impact, voluntary credit markets offer them agility and credibility, further boosting the plastic credit market's relevance and appeal.
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PLASTIC CREDIT MARKET SHARE
Asia-Pacific leads the plastic credit market due to high plastic consumption, growing environmental awareness, and regulatory initiatives in countries like India, Indonesia, and the Philippines. Government-backed Extended Producer Responsibility (EPR) programs and rising public-private partnerships are fueling demand.
North America and Europe follow, driven by strict sustainability mandates, ESG adoption, and consumer advocacy for plastic-neutral practices. Europe benefits from mature recycling infrastructure and widespread use of certification systems.
Key Companies:
- ECOEX SRL
- PCX
- Empower
- Ampliphi
- Verra
- Oceanworks.
- rePurpose Global
- TONTOTON
- Waste4Change
- GemCorp
- Plastic Bank
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