This work aims to assess the possibility of using packaging industry waste to modify polypropylene products (PPs). The products were made in the form of extruded foil and injected samples. The products were produced using regranulate made of polypropylene cast foil. Maleic anhydride-modified polypropylene (MAPP) and polyolefin elastomer (POE) with a glycidyl ester functional group were used to modify the polypropylene. The samples were produced based on 50% foil waste reground and 50% pure PP. The rheological properties of the blends were assessed using the melt mass flow rate (MFR) technique; thermal properties using the differential scanning calorimetry method (DSC). The products manufactured using the injection molding method were subjected to an analysis of mechanical properties, such as tensile strength and impact strength. Also, in the case of film samples, tensile strength was assessed. Color-change assessments with CIE L*a*b* were carried out for all materials. Injection-molded products based on recycled metallized cast foil showed favorable mechanical properties such as tensile strength (1 MAPP = 26.7 MPa; 2 MAPP = 27.1 MPa), which was higher than the original material (cPP = 20.7 MPa). Also, for the films produced from regrind, the tensile strength was at a level similar (1 MAPP = 24.6 MPa; 2 MAPP/POE = 25.1 MPa) to the films extruded from virgin materials (cPP = 24.9 MPa). The introduction of a POE additive to the blends resulted in increased impact strength (1 MAPP/POE = 31 kJ/mol; 2MAPP/POE = 18 kJ/mol; 3 MAPP/POE = 11 kJ/mol) in relation to unmodified samples (cPP = 7 kJ/mol). The introduction of a POE additive to the tested mixtures improved the impact strength of the injected products by almost 4 times for sample 1 MAPP/POE and 2.5 times for sample 2 MAPP/POE in comparison to virgin cPP. These studies confirmed that foil waste can be successfully used to modify polypropylene products shaped both in the injection and extrusion processes.