Market Size of Japan Plastic Packaging Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 2.70 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Japan Plastic Packaging Market Analysis
The Japan Plastic Packaging market is expected to register a CAGR of global 2.7 % over the forecast period (2021 - 2026). Owing to the COVID-19 outbreak, food & beverage companies are developing response actions and effective plans to help mitigate their risk and prepare for how they would deal with the effects of the coronavirus. These plans include establishing an interdisciplinary crisis response team of personnel from all aspects of the business to identify, assess, and manage the risk presented.
- Plastic packaging has become popular among consumers, over other products, as plastic material is lightweight and unbreakable making them easier to handle. Even major manufacturers prefer to use plastic packaging, owing to the lower cost of production. Moreover, the introduction of polymers, such as polyethylene terephthalate (PET) and high-density polyethylene (HDPE), is expanding the applications of plastic bottles. The market has been witnessing an increasing demand for PET bottles.
- Plastic containers are becoming important, not only in the beverage segment, but in the food, cosmetics, and pharmaceuticals industries. New filling technologies and the emergence of heat-resistant PET bottles opened up new possibilities and options in the market. While PET bottles are common in multiple segments, beverages, cosmetics, sanitary products, and detergents are predominantly sold in bottles that are made up of polyethylene (PE).
- The increasing popularity of PET bottles helped it in considerably gaining market shares in the past few years. The quality of plastic bottles is constantly improving, as they are gaining access to other segments that traditionally used other materials.
- Consumers have also been inclining themselves toward other packaging materials, which offer environment-friendly properties. The consumption of aluminum and glass has been witnessing high adoption rates in the region, owing to the eco-friendly nature and high recyclability. Thus, consumers have been increasingly moving toward other materials from plastic.