Market Size of Europe Plastic Packaging Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 23.58 Billion |
| Market Size (2029) | USD 31.12 Billion |
| CAGR (2024 - 2029) | 5.70 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Plastic Packaging Market Analysis
The Europe Plastic Packaging Market size is estimated at USD 23.58 billion in 2024, and is expected to reach USD 31.12 billion by 2029, growing at a CAGR of 5.70% during the forecast period (2024-2029).
The increasing technological advancements and end-user industry packaging applications are the significant factors driving the market growth studied.
- In most European countries, the population is growing, and the use of packaging per person is increasing. It is due to consumer behavior trends, such as the growth in the use of convenience products and the increasing use of plastic as a substitute for other packaging materials.
- The market is driven by several reasons, with different effects over the short, medium, and long-term periods. These causes include a consistent increase in the demand for processed foods and the adoption of lightweight flexibles. Additionally, there is a rise in demand for frozen food packaging due to customer appreciation of the quality of local products. The need for frozen food packaging has expanded in Europe due to the expansion of the economy and shifting lifestyles, and the market is anticipated to grow profitably over the next years.
- The demand for plastic packaging continues to rise in Europe even though serious concerns are being raised about its impact on the environment. However, the market also faces challenges due to the government regulations in Europe and increasing consumer demand that pushes manufacturers to look for plastic packaging solutions that are biodegradable or derived from sustainable sources.
- The market is expected to face significant challenges due to dynamic changes in regulatory standards, mainly due to growing environmental concerns. The region's government has responded to public concern about plastic packaging waste, especially plastic packaging waste, by introducing regulations to minimize environmental waste and improve waste management processes.
- The European Plastics Converters (EuPC) is composed of 50,000 SMEs, and it is currently working to mitigate the effects of the coronavirus crisis. Industries and authorities are directing their full attention to the management of the crisis, and they have put on hold all inessential activities to concentrate on the health and safety of the European citizens.
