Product ID: UCMIR15G2054
Report ID:
UCMIR15G2054 |
Region:
Regional |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The estimated market size of plastic packaging in Saudi Arabia reached USD 12.35 billion in 2022, with an anticipated compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. The market's expansion is driven by heightened consumer goods consumption and increased industrial activities in sectors like oil & gas and construction, fostering a demand for plastic packaging for industrial products within the country. Moreover, the robust economy, fueled by both oil and non-oil sectors, has led to augmented consumer spending and a growing preference for packaged goods. The surge in demand for halal cosmetic products, driven by consumer awareness of their chemical-free, skin-friendly, and cruelty-free attributes, has positively influenced the market, particularly as these cosmetic items are commonly packaged in plastic pouches, tubes, jars, and bottles.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Metal & Glass Containers by segment aggregation, the contribution of the Metal & Glass Containers in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIR15G2054