Global plastic packaging Market

Global Plastic Packaging Market Size, Share, Growth Analysis, By Product(Rigid (Bottles & Jars, Cans), By Technology(Injection Molding, Extrusion), By Application(Food & Beverage, Industrial Packaging) - Industry Forecast 2023-2030


Report ID: SQMIG15G2025 | Region: Global | Published Date: February, 2024
Pages: 246 | Tables: 100 | Figures: 76

Global Plastic Packaging Market Insights

 Plastic Packaging Market size was valued at USD 356.38 billion in 2021 and is poised to grow from USD 369.21 billion in 2022 to USD 489.95 billion by 2030, growing at a CAGR of 3.6% in the forecast period (2023-2030).

Product demand is being driven by rapidly developing main application sectors such as food and drinks, medicines, and personal and household care. Furthermore, the increasing penetration of organized as well as e-retail throughout the world is supporting market expansion. Plastic provides both flexible and stiff packaging, as well as transparent and lightweight packaging, which is why the primary application industries choose it over its competitors, such as metal or glass. Furthermore, designed plastic can withstand harsh conditions and does not disintegrate in high temperatures, keeping the quality of items such as food and beverages, and cosmetics.

Globally, the packaged food and beverage market has been expanding rapidly in recent years. Changing lifestyles, an increasingly urban population, rising economic activity in developing nations, and increased e-commerce penetration throughout the world are just a few of the macro forces driving the global packaged food business. Furthermore, the development of novel solutions, such as active packaging, modified atmosphere packaging, edible packaging, and bioplastic packaging, is also projected to promote market growth in the coming years. On the other hand, increased sustainability consciousness and strict restriction on single-use items to reduce plastic pollution are anticipated to pose a challenge to the industry's growth.

US Plastic Packaging Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 356.38 billion

Largest Segment

Injection molding

Fastest Growth

Injection molding

Growth Rate

3.6% CAGR

Global Plastic Packaging Market($Bn)
Country Share for Asia Pacific Region (%)
Global Plastic Packaging Market size by Technology($Bn)
Global Plastic Packaging Market size by Technology($Bn)

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Global Plastic Packaging Market Segmental Analysis

The Plastic Packaging Market Is Segmented by Product Rigid (Bottles & Jars, Cans, Trays & Containers, Caps & Closures, Others), Flexible (Wraps & Films, Bags, Pouches, Others). By Technology the Plastic Packaging Market is divided into Injection Molding, Extrusion, Blow Molding, Thermoforming, and Others. By Application, the Plastic Packaging Market is divided into Food & Beverage, Industrial Packaging, Pharmaceuticals, Personal & Household Care, and Others. Based on the region Plastic Packaging Market is categorized into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa.

Plastic Packaging Market Analysis by Product

In 2021, the rigid packaging segment held the largest share of the plastic packaging market, accounting for more than 60% of the total revenue. This is due to its durability and attractive appearance. Additionally, the high barrier properties of rigid packaging, such as protection against light, moisture, and oxygen, also contributed to its dominant market share. The reusability of rigid packaging products, like pallets and intermediate bulk containers, is also expected to drive the growth of this segment.

Global Plastic Packaging Market size by Technology, 2021 (%)

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Global Plastic Packaging Market Regional Insights

Based on regional analysis, Asia Pacific accounted for the largest revenue share in 2022. The region is using Plastic packaging for several applications such as urban planning, environment monitoring, weather forecasts, etc. Estimates also state that the adoption of technology in heavy and lightweight automobiles will also increase in the region, thus boosting the further market growth. The second position is bagged by Europe which sees a growth rate of 20% between 2022-2028. The market in this region is growing opportunities for use in various sectors such as agriculture, corridor mapping, etc. UK, Germany, and France will emerge as the hubs of drone technology and thus promote the growth of Plastic packaging. Stringent restrictions governing the use of plastic items, along with increased consumer awareness about sustainability, are mostly to blame for the market's poor development in this region.

Global Plastic Packaging Market Size By Geography, 2023-2030
  • Largest
  • Fastest

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Global Plastic Packaging Market Dynamics

Plastic Packaging Market Drivers

Increasing Demand in the Healthcare Industry

  • Governments are making investments to upgrade the healthcare structures of developing nations in diverse locations, particularly in the aftermath of the epidemic. Rigid plastic packaging protects medications from contamination and has the features of durability, cleanliness, clarity, and lightweight, making it ideal for storing medical products such as syringes, pills, syrups, surgical items, and others. According to the staff study report on the "US-China Economic and Security Review Commission," the healthcare business in China is estimated to reach 16 trillion RMB (USD 2.3 million) by 2030. As a result, the growing healthcare sector is expected to boost the growth of the rigid plastic packaging market throughout the forecast period.

Plastic Packaging Market Restraints

The Environmental Impacts of Rigid Plastic Packaging is expected to Limit Market Growth

  • High-density polyethylene (HDPE) expanded polystyrene (EPS), polyethylene terephthalate (PET), and polyvinyl chloride are the most often used polymers in the packaging industry (PVC). Rigid plastic packaging is used in a variety of industries to preserve and maintain packaged things such as industrial items, food, and medical supplies. The fundamental issue with these polymers is the sorting, reuse, and recycling of plastic trash. Plastic packaging materials can take up to 1,000 years to break down in landfill, causing land and water contamination. Furthermore, plastics disintegrate in direct sunshine, reducing mechanical strength; additionally, thermoplastics creep and soften at moderate temperatures. As a result, the environmental implications of rigid plastic packaging will stymie market expansion.

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Global Plastic Packaging Market Competitive Landscape

The plastic packaging market is highly competitive with a mix of large international companies and smaller domestic players. The market is increasingly shifting towards sustainable packaging as a result of stricter regulations on the use of excessive plastic packaging, as well as growing consumer awareness of sustainability. Companies in the industry are mainly using acquisition as a strategy to grow their manufacturing capabilities and expand their presence in different regions.

Plastic Packaging Market Top Player’s Company Profiles

  • Amcor plc

     

  • Berry Global Inc.

     

  • Sealed Air Corporation

     

  • Dow Chemical Company

     

  • Huhtamaki Oyj

     

  • Sonoco Products Company

     

  • Bemis Company Inc.

     

  • Mondi plc

     

  • Constantia Flexibles Group GmbH

     

  • Coveris Holdings S.A.

     

  • Reynolds Group Holdings Limited

     

  • Silgan Holdings Inc.

     

  • RPC Group Plc

     

  • Printpack Inc.

     

  • ALPLA Werke Alwin Lehner GmbH & Co KG

     

  • AptarGroup Inc.

     

  • AEP Industries Inc.

     

  • Clondalkin Group Holdings B.V.

     

  • Novolex Holdings Inc.

     

  • Winpak Ltd.

Plastic Packaging Market Recent Developments

  • In October 2022, Dura-Pack is a paper-based Dissolve pouch with a low barrier and strong strength that dissolves in water in about 20 seconds.
  • In October 2022, Henkel and Siegwerk collaborated on a recyclable flexible packaging solution. Because the packaging is constructed of a single material, an oxygen barrier allows it to be extremely recyclable.
  • In October 2022, Domino and Sappi Work Together to Make Sustainable Laser Coding of Barrier Papers for Flexible Food Packaging a Reality

Global Plastic Packaging Key Market Trends

  • Manufacturers have been driven to produce new packaging alternatives because of dynamic industry developments such as the implementation of new regulatory measures. Growing environmental concerns about the use of biodegradable polymers in flexible packaging have also pushed manufacturers to develop safe and secure sustainable packaging choices. Manufacturers are researching sustainable packaging alternatives that need less resources and energy to make a package, minimise transportation charges, and give a longer shelf-life to the product to alleviate cost pressures and retain the integrity of product packages.
  • Consumers, particularly millennials, are becoming more aware of the environmental effect of food manufacturing, food packaging, and food waste. A Stora Enso poll found that more than 50 % of millennials believe packaging should be sustainable across the value chain.
  • Continued transparency in food packaging is expected to be a trend in 2021. Consumers prefer to view the actual product before purchasing it, in addition to the specified components on the label. In the single-serve ketchup, condiment, and barbecue sauce businesses, polyethylene terephthalate (PET) bottles are displacing glass.

Global Plastic Packaging Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global plastic packaging market analysis, the market is extremely fragmented, with both large-scale multinational and small- and medium-sized domestic enterprises present. Because of tight plastic consumption rules, particularly in developed areas, the market is progressively shifting toward sustainable packaging. Key industry players are heavily relying on acquisition methods to grow their production capabilities and geographical presence.

Report Metric Details
Market size value in 2021 USD 356.38 billion
Market size value in 2030 USD 489.95 billion
Growth Rate 3.6%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Rigid (Bottles & Jars, Cans, Trays & Containers, Caps & Closures, Others), Flexible (Wraps & Films, Bags, Pouches, Others)
  • Technology
    • Injection Molding, Extrusion, Blow Molding, Thermoforming, and Others
  • Application
    • Food & Beverage, Industrial Packaging, Pharmaceuticals, Personal & Household Care, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Amcor plc

     

  • Berry Global Inc.

     

  • Sealed Air Corporation

     

  • Dow Chemical Company

     

  • Huhtamaki Oyj

     

  • Sonoco Products Company

     

  • Bemis Company Inc.

     

  • Mondi plc

     

  • Constantia Flexibles Group GmbH

     

  • Coveris Holdings S.A.

     

  • Reynolds Group Holdings Limited

     

  • Silgan Holdings Inc.

     

  • RPC Group Plc

     

  • Printpack Inc.

     

  • ALPLA Werke Alwin Lehner GmbH & Co KG

     

  • AptarGroup Inc.

     

  • AEP Industries Inc.

     

  • Clondalkin Group Holdings B.V.

     

  • Novolex Holdings Inc.

     

  • Winpak Ltd.

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Plastic Packaging Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Plastic Packaging Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Plastic Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Plastic Packaging Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Plastic Packaging Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Plastic Packaging Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

 Plastic Packaging Market size was valued at USD 356.38 billion in 2021 and is poised to grow from USD 369.21 billion in 2022 to USD 489.95 billion by 2030, growing at a CAGR of 3.6% in the forecast period (2023-2030).

The plastic packaging market is highly competitive with a mix of large international companies and smaller domestic players. The market is increasingly shifting towards sustainable packaging as a result of stricter regulations on the use of excessive plastic packaging, as well as growing consumer awareness of sustainability. Companies in the industry are mainly using acquisition as a strategy to grow their manufacturing capabilities and expand their presence in different regions. ' Amcor plc   ', ' Berry Global Inc.   ', ' Sealed Air Corporation   ', ' Dow Chemical Company   ', ' Huhtamaki Oyj   ', ' Sonoco Products Company   ', ' Bemis Company Inc.   ', ' Mondi plc   ', ' Constantia Flexibles Group GmbH   ', ' Coveris Holdings S.A.   ', ' Reynolds Group Holdings Limited   ', ' Silgan Holdings Inc.   ', ' RPC Group Plc   ', ' Printpack Inc.   ', ' ALPLA Werke Alwin Lehner GmbH & Co KG   ', ' AptarGroup Inc.   ', ' AEP Industries Inc.   ', ' Clondalkin Group Holdings B.V.   ', ' Novolex Holdings Inc.   ', ' Winpak Ltd. '

Governments are making investments to upgrade the healthcare structures of developing nations in diverse locations, particularly in the aftermath of the epidemic. Rigid plastic packaging protects medications from contamination and has the features of durability, cleanliness, clarity, and lightweight, making it ideal for storing medical products such as syringes, pills, syrups, surgical items, and others. According to the staff study report on the "US-China Economic and Security Review Commission," the healthcare business in China is estimated to reach 16 trillion RMB (USD 2.3 million) by 2030. As a result, the growing healthcare sector is expected to boost the growth of the rigid plastic packaging market throughout the forecast period.

Manufacturers have been driven to produce new packaging alternatives because of dynamic industry developments such as the implementation of new regulatory measures. Growing environmental concerns about the use of biodegradable polymers in flexible packaging have also pushed manufacturers to develop safe and secure sustainable packaging choices. Manufacturers are researching sustainable packaging alternatives that need less resources and energy to make a package, minimise transportation charges, and give a longer shelf-life to the product to alleviate cost pressures and retain the integrity of product packages.

Based on regional analysis, Asia Pacific accounted for the largest revenue share in 2022. The region is using Plastic packaging for several applications such as urban planning, environment monitoring, weather forecasts, etc. Estimates also state that the adoption of technology in heavy and lightweight automobiles will also increase in the region, thus boosting the further market growth. The second position is bagged by Europe which sees a growth rate of 20% between 2022-2028. The market in this region is growing opportunities for use in various sectors such as agriculture, corridor mapping, etc. UK, Germany, and France will emerge as the hubs of drone technology and thus promote the growth of Plastic packaging. Stringent restrictions governing the use of plastic items, along with increased consumer awareness about sustainability, are mostly to blame for the market's poor development in this region.

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Global plastic packaging Market

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