SINGLE USE PACKAGING MARKET ANALYSIS

Single Use Packaging Market Size and Trends

The single use packaging market is estimated to be valued at USD 108.35 Bn in 2024 and is expected to reach USD 158.66 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.

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The single use packaging market is expected to witness positive growth over the forecast period. The increasing demand from foodservice outlets and on-the-go food and beverage consumption are driving the growth of the market. Strong economic growth and changing lifestyles in developing countries are increasing the demand for convenience packaging solutions. Growth in the e-commerce industry is also favoring the market as more packages are needed for product delivery. However, stringent regulations around single use plastics by governments globally due to environmental concerns may hamper the market growth. Manufacturers are focusing on developing sustainable packaging using recycled content to comply with the new rules.

Growth in food & beverage industry

The growth and expansion of the food & beverage industry continues to be a major driver for the increased adoption of single use packaging solutions globally. As consumer lifestyles and preferences evolve, there is a constant demand for new, convenient and on-the-go packaging formats that allow consumers to enjoy their snacks, meals or beverages wherever and whenever they want. In response, companies in the food and beverage space are innovating and launching an array of ready-to-eat and ready-to-drink products that are packaged in single-serve containers which can be easily transported and disposed of after single use.

A prime example is how the quick service restaurant industry has expanded rapidly during recent years. Food chains are introducing new snacking and smaller meal options that are packaged in disposable containers suitable for eating outside the restaurant premises such as in offices, parks, or during travel. Additionally, the thriving food delivery business has increased the need for stackable and leak-proof single-use packaging for transporting hot and cold food items safely to customers' doorsteps. On the beverage front, the rise of energy drinks, bottled coffees, juices, and flavored water segments have all contributed to higher consumption of single-portion plastic, glass or carton bottles instead of traditional multi-serve containers.

Increased environmental regulations

Heightened regulatory scrutiny on environmental pollution from plastic waste globally has emerged as a strong driver for the single use packaging market, particularly biodegradable and recyclable packaging materials. Various governments are implementing stricter rules around the usage of conventional plastic bags, straws, cutlery, and other disposable items due to the growing solid waste problem.