Packaging Resins Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Packaging Resins Market is Segmented by Resin Type (High-density Polyethylene, Low-density Polyethylene, Polyethylene Terephthalate, Polypropylene, Polystyrene, Polyvinyl Chloride, and Other Resin Types), Application (Food and Beverage, Consumer Goods, Cosmetics and Personal Care, Healthcare, Industrial, and Other Applications), and Geography (Asia Pacific, North America, Europe, South America, and Middle-East and Africa). For each segment, the market sizing and forecasts have been done based on volume (million metric tons).

Packaging Resins Market Size

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Packaging Resins Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 5.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Packaging Resins Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Packaging Resins Market Analysis

The packaging resins market is expected to witness a CAGR of more than 5% during the forecast period (2021-2026).

Due to COVID-19 restrictions, the safety of the employees, and reducing the spread of the virus, in the first half of 2020, manufacturing plants were closed in most parts of the world. The lockdown and the decision of most governments, worldwide, to shut down non-essential businesses have halted the consumer goods segment for most of the year 2020. This has negatively affected the consumer goods industry, in turn, the packaging resins market. Around 34.7 million fewer electronic goods were shipped in February 2020, compared to that of the previous year February, marking the largest drop in the electronic goods industry. The relaxation of the lockdown and the manufacturing plants opening is an encouraging sign for the packaging resins market. Furthermore, the cosmetics and personal care industry suffered in 2020 due to the COVID-19 pandemic. However, there is an increase in e-commerce sales, almost twice as high as their pre-COVID-19 levels, which is a positive factor for the market studied.

  • Over the long term, the growing e-commerce industry, cost-effectiveness, and increased shelf-life of products have been driving the market growth.
  • The growing demand for sustainable packaging solutions and innovation of modern packaging technologies are likely to provide ample opportunities for the growth of the packaging resins market over the forecast period.
  • The food and beverage segment is expected to dominate the packaging resins market over the forecast period.
  • The Asia Pacific region dominated the packaging resins market, and it is also expected to be the fastest-growing regional market over the forecast period, owing to the increasing consumption from countries, such as China, India, and Japan.

Packaging Resins Market Trends

This section covers the major market trends shaping the Packaging Resins Market according to our research experts:

Food and Beverage Segment to Dominate the Market Demand

  • The food and beverage segment stands to be the dominating segment among applications, where packaging requirement is widely driven by a growing need to increase the shelf life of products, thus, protecting food products for longer periods.
  • Packaging is one of the key aspects considered by the firms engaged in the food and beverage industry to ensure compatibility of packaging material with food, the durability of food, the safety of human health, and the attractiveness of the packaging.
  • According to the China Chain store and franchise association, in the food and beverages segment, China has reached around USD 595 billion in 2019.
  • The increase in the aging population, growing demand for convenient packaging, growth of the e-commerce business, the growing online food delivery market, and the packaging of products in different sizes and quantities are some of the market conditions that have been boosting the demand for flexible packaging, globally.
  • In 2019, the United States packaging industry generated a total value of USD 180 billion. According to the Flexible Packaging Association, in the United States, more than 46% of Americans are willing to pay more for food and beverage products stored in flexible packaging than for food products kept in non-flexible packaging. Moreover, 71% of Americans may prefer flexible packaging over non-flexible packaging for a product they consider purchasing.
  • Hence, with such factors driving the demand for flexible packaging material, the consumption of packaging resins has also been increasing from the food and beverage industry across the world.
Packaging Resins Market, Volume (%), by Application, Global, 2020

Asia Pacific to Dominate the Market

  • The Asia Pacific region represents the largest market, and it is also expected to be the fastest-growing market over the forecast period, owing to the increasing consumption from countries, such as China, India, and Japan.
  • Factors, such as the rising disposable income, increasing consumer expenditure, and growing population, have been driving the demand for FMCG goods, which, in turn, have been driving the packaging requirements in Asia Pacific.
  • The revenue generated by the Indian food industry increased from USD 68,960 million in 2010 to USD 262,339 million in 2019. The revenue generated by the processed meat increased from USD 1,882 million in 2019 to USD 2,302 million in 2020. The revenue generated from milk products and eggs increased from USD 76,441 million in 2019 to USD 92,304 million in 2020.
  • The Japanese food industry witnessed major growth over the past decade. The revenue generated by the food industry in Japan increased from USD 131,616 million in 2010 to USD 138,488 million in 2019. The revenue generated by the meat products and sausages increased from USD 5,929.2 million in 2010 to USD 6,261.2 million in 2019. The revenue generated from milk products increased from USD 12,075.4 million in 2010 to USD 15,173.7 million in 2019.
  • Furthermore, the growth in the production of beauty and personal care products in countries, like Japan, India, China, and ASEAN countries, has been driving the packaging demand in the region.
  • China stands to be the second-largest market for beauty products in the world, after the United States. Considering the growth prospects for the cosmetics industry in China, international cosmetic brands entered the market, which led to intense competition in the domestic cosmetic industry.
  • Due to the COVID-19 impact, the personal care market has fallen by 4.6%, and the cosmetics market has fallen by 3.9% in terms of revenue in 2020 compared to the previous year.
  • However, such intensified competition and growing cosmetic production in the country have been further driving the packaging demand.
  • Hence, all such market trends are expected to drive the demand in the packaging resins market in the region during the forecast period.
Packaging Resins Market - Growth Rate by Region, 2021-2026

Packaging Resins Industry Overview

The packaging resins market is partially fragmented in nature. Some of the prominent players operating in the market are Borealis AG, INEOS, Lyondellbasell Industries Holdings BV, SABIC, and China Petrochemical Corporation, among others.

Packaging Resins Market Leaders

  1. SABIC

  2. China Petrochemical Corporation

  3. Borealis AG

  4. INEOS

  5. LyondellBasell Industries Holdings BV

*Disclaimer: Major Players sorted in no particular order

Packaging Resins Market Concentration
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Packaging Resins Market News

  • In October 2020, LyondellBasell and Sasol announced that they entered a definitive agreement to form a 50/50 joint venture, through which LyondellBasell is likely to acquire 50% of Sasol's 1.5 MM ton ethane cracker, 0.9 MM ton low and linear low-density polyethylene plants, and associated infrastructure for a total consideration of USD 2 billion. The venture is expected to operate under the name Louisiana Integrated PolyEthylene JV LLC.
  • In September 2020, INEOS Olefins & Polymers announced its partnership with Saica Natur in a supply agreement for recycled LDPE and LLDPE. The long-term agreement may help INEOS serve the growing demand for increased recycled products in sustainable, virgin quality flexible packaging.
  • In March 2020, LyondellBasell announced that it signed definitive agreements to expand in China through a 50:50 joint venture with the Liaoning Bora Enterprise Group (Bora). In September 2019, LyondellBasell and Bora first signed a Memorandum of Understanding and announced their intention to form this joint venture during a ceremony in China.

Packaging Resins Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Report




    1. 4.1 Drivers

      1. 4.1.1 Cost Effectiveness and Increased Shelf-life of Products

      2. 4.1.2 Growing E-commerce Industry

    2. 4.2 Restraints

      1. 4.2.1 Rising Environment Concerns Related to Plastic Disposal

      2. 4.2.2 Unfavorable Conditions Arising Due to the COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Industry Attractiveness - Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Intensity of Competitive Rivalry


    1. 5.1 By Resin Type

      1. 5.1.1 High-density Polyethylene

      2. 5.1.2 Low-density Polyethylene

      3. 5.1.3 Polyethylene Terephthalate

      4. 5.1.4 Polypropylene

      5. 5.1.5 Polystyrene

      6. 5.1.6 Polyvinyl Chloride

      7. 5.1.7 Other Resin Types

    2. 5.2 By Application

      1. 5.2.1 Food and Beverage

      2. 5.2.2 Consumer Goods

      3. 5.2.3 Cosmetics and Personal Care

      4. 5.2.4 Healthcare

      5. 5.2.5 Industrial

      6. 5.2.6 Other Applications

    3. 5.3 By Geography

      1. 5.3.1 Asia Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Borealis AG

      2. 6.4.2 Braskem

      3. 6.4.3 Dow

      4. 6.4.4 Exxon Mobil Corporation

      5. 6.4.5 Far Eastern New Century Corporation

      6. 6.4.6 Indorama Ventures Public Company Limited

      7. 6.4.7 INEOS

      8. 6.4.8 Lyondellbasell Industries Holdings BV

      9. 6.4.9 PetroChina Company Limited

      10. 6.4.10 Reliance Industries Limited

      11. 6.4.11 SABIC

      12. 6.4.12 China Petrochemical Corporation

      13. 6.4.13 Total

    5. *List Not Exhaustive

    1. 7.1 Growing Demand for Sustainable Packaging Solutions

    2. 7.2 Innovation of Modern Packaging Technologies

**Subject to Availability
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Packaging Resins Industry Segmentation

The packaging resins market is segmented by resin type, application, and geography. By resin type, the market is segmented into high-density polyethylene, low-density polyethylene, polyethylene terephthalate, polypropylene, polystyrene, polyvinyl chloride, and other resin types. By application, the market is segmented into food and beverage, consumer goods, cosmetics and personal care, healthcare, industrial, and other applications. The report also covers the market size and forecasts for the packaging resins market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (million metric tons).

By Resin Type
High-density Polyethylene
Low-density Polyethylene
Polyethylene Terephthalate
Polyvinyl Chloride
Other Resin Types
By Application
Food and Beverage
Consumer Goods
Cosmetics and Personal Care
Other Applications
By Geography
Asia Pacific
South Korea
Rest of Asia Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Packaging Resins Market Research FAQs

The Packaging Resins Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

SABIC, China Petrochemical Corporation, Borealis AG, INEOS and LyondellBasell Industries Holdings BV are the major companies operating in the Packaging Resins Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Packaging Resins Market.

The report covers the Packaging Resins Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Packaging Resins Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Packaging Resins Industry Report

Statistics for the 2024 Packaging Resins market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Packaging Resins analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Packaging Resins Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)