The plastic packaging market is estimated to be valued at USD 398.19 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 3.6% from 2024 to 2031. The plastic packaging market has been witnessing steady growth over the past few decades driven by the increasing demand from various end-use industries. Plastic packaging provides features like durability, lightweight, and flexibility which makes the transportation and handling of goods convenient. They help extend the shelf life of products by providing good barrier against moisture, oxygen, and other environmental factors. Various types of plastics like polyethylene, polypropylene, PVC, and PET are widely used in the food & beverage, healthcare, personal care, and other packaging applications. Growing consumption of packaged and processed food & beverages. Furthermore, the rising e-commerce sector globally has boosted the demand for plastic packaging materials. However, stringent regulations around single-use plastic may restraint the market growth to some extent going ahead.
Market Dynamics:
The plastic packaging market is driven by growing demand from the food & beverages industry. Plastic packaging materials provide excellent barrier against moisture, oxygen, and other environmental pollutants helping extend the shelf life of products. This is a major factor boosting their use in the food industry. The rising demand for PET bottles from the soft drinks industry has further augmented the market growth over the years. However, regulations prohibiting single use plastic may act as a restraint. Government policies around the world are promoting the use of biodegradable and sustainable packaging alternatives. The growing e-commerce industry has opened new opportunities for the demand of plastic materials in secondary packaging for the transportation and distribution of goods. Manufacturers are focusing on the development of new recyclable solutions to capitalize on opportunities in this dynamic marketplace.
Key Features of the Study:
Detailed Segmentation-
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* Browse 25 market data tables* and 20 figures* on “Global Plastic Packaging Market” - Global forecast to 2031.
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