Presently, environmental problems and regulations have caused awareness to producer liability concerning plastics recycling as they try to meet global demand. Process-induced degradation during recycling as well as degradation brought on by thermomechanical operations (e.g. extrusion, injection molding, etc.) or other processes typically leads to irreversible changes in the physicochemical properties and structure of the material. Thus, it is important to understand the magnitude and mechanisms of property deterioration during the recycling process via either chemical, thermomechanical, reutilization, or incineration methods while, looking into possible utilizations, applications, and solutions for the existing global accumulated polyolefine (PO) waste. This review provides a comprehensive overview of the recent research efforts and industrial trends in PO recycling. Although a wide variety of POs exist in the market, this review focuses on polyethylene (PE) and polypropylene (PP). The ongoing challenges and future potential of plastic recycling are also discussed.