Market Size of China Plastic Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Plastic Packaging Market Analysis
The Chinese plastic packaging market is expected to grow at a CAGR of global 3.5% over the forecast period. The increasing demand from the food and beverage industries primarily drives the rapid demand for flexible and rigid plastic packaging products in China. There has been an impact of the Russia-Ukraine war on the overall packaging ecosystem.
- Demand for polyethylene terephthalate (PET) plastic bottles for the packaging of bottled water, juices, soft drinks, medicines, household cleaners, and personal care products is a significant factor driving the plastic packaging market's growth.
- Furthermore, the trend toward healthy living is gaining momentum in China. As a result, customers in China are inclined towards preferring beverages that promote a better lifestyle, with nutritional value playing a crucial role in the choice of the product. Therefore, milk and protein beverages have enjoyed an increase in popularity.
- Due to expanding consumer preference for online shopping, the proliferation of payment options, and online shopping events, including single-day offers, enticing discounts, and enhanced logistic infrastructure, the e-commerce sector is expanding rapidly in the country, contributing significantly to the market. However, the introduction of regulations on the use of single-use plastic packaging due to growing concerns about environmental pollution by the government is restricting the growth of the plastic packaging market.
- The COVID-19 outbreak has had a mixed impact on the plastic packaging industry in China, as the lockdown resulted in supply chain disruption that affected the manufacturing industry. Significant shifts in consumer behaviors led to an increase in the food service market and beverage consumption, especially carbonated drinks, and the water segment registered faster growth, contributing to plastic packaging.
- The Russia-Ukraine war has resulted in a decrease in the imports of a considerable amount of PE plastic from Russia, which has been affected due to the invasion impacting the plastic packaging in China.
