Plastic Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The report covers Global Plastic Packaging Market Trends & Growth and it is Segmented into Rigid Plastic Packaging (Material Type (Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polystyrene (PS) & Expanded Polystyrene (EPS), and Polyvinyl Chloride (PVC)), Product (Bottles & Jars, and Trays & Containers), End-user Industry (Food, Beverage, Healthcare, and Cosmetics & Personal Care) and Geography). It is also Segmented into Flexible Plastic Packaging (Material Type (Polyethylene (PE), Bi-orientated Polypropylene (BOPP), Cast Polypropylene (CPP), Polyvinyl Chloride (PVC), Ethylene Vinyl Alcohol (EVOH)), Product Type (Pouches, Bags, and Films & Wraps), End-user Industry (Food, Beverage, Cosmetics and Personal Care) and Geography).

Plastic Packaging Market Size

Plastic Packaging Market Summary
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Study Period 2018 - 2028
Market Volume (2023) 99.92 Million tonnes
Market Volume (2028) 119.02 Million tonnes
CAGR (2023 - 2028) 3.56 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific

Major Players

Plastic Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Plastic Packaging Market Analysis

The Global Plastic Packaging Market size is expected to grow from 99.92 million tonnes in 2023 to 119.02 million tonnes by 2028, at a CAGR of 3.56% during the forecast period (2023-2028).

Compared to other packaging products, consumers have shown an increasing inclination toward plastic packaging, as plastic packages are lightweight and easier to handle. Similarly, even the big manufacturers prefer plastic packaging solutions because of their lower cost of production.

  • Plastic containers are becoming important in the beverage, food, cosmetics, and pharmaceutical industries. New filling technologies and the emergence of heat-resistant packaging material 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 polyethylene (PE) bottles.
  • Banning plastic bags, along with other types of plastic packaging, is the most used remedy to solve the problem of plastic waste worldwide. According to National Geographic, as of June 2021, 115 countries had taken that approach in various ways. For instance, plastic bags less than 50 microns thick are banned in France. In Tunisia, plastic bags less than 40 microns thick are forbidden.
  • Several global companies increasingly recognize the urgency of recycling PET into food-grade products, such as beverage containers. The trend can drive the growth of the demand for PET in the world. For instance, the Coca-Cola Company intends to use 50% recycled PET in its containers by 2030. Also, Unilever is committed to making 100% of its plastic packaging reusable or recyclable by 2025.
  • The e-commerce industry's rapid expansion will probably create new opportunities for market expansion. To cut the cost of transportation, e-commerce enterprises favor lightweight and flexible packaging options. The sector is anticipated to increase as more people shop online for everyday fresh foods, FMCG products, electrical devices, and clothing.
  • Additionally, greater opportunities for plastic packaging are anticipated in the upcoming years due to the growing introduction of innovative packaging solutions, including active packaging, modified environment packaging, edible packaging, and bioplastic packaging. However, the industry's existence is expected to be challenged by growing sustainability awareness and a strict prohibition on single-use plastic to reduce plastic pollution.
  • Since the outbreak of the COVID-19 pandemic, consumers and businesses have had to alter how they view packaging health and safety. Since the early days of the pandemic, single-use plastic has been gaining importance; consumers were concerned that reusable packaging would increase the risk of transmission.

Plastic Packaging Market Trends

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

Food Segment to Occupy Major Share

  • Food packaging is one of the largest users of plastics. The demand for rigid plastic packaging for the food industry is witnessing demand, as they are increasingly replacing traditional materials such as paperboard, metals, and glass, owing to their beneficial properties, such as lightweight and reduced cost.
  • The increasing consumption of bakery products is further driving the adoption of flexible plastic packaging solutions to increase the shelf-life and avoid chalky bread conditions. With roughly 80% of baked goods being sold in flexible packaging and bakeries now producing a more comprehensive range of bread, buns, and rolls than ever before, including specialty and gluten-free, market players are developing advanced solutions catering to the demand.
  • Vendors strategically partnered to enhance flexible packaging for the segment. For instance, in May 2021, ProAmpac acquired Irish Flexible packaging and Fispak to serve flexible packaging products to bakeries in Ireland. Similarly, in September 2021, PPC Flexible Packaging announced the acquisition of custom flexible packaging to enhance the sales of flexible films for all products, including bakery products.
  • Rigid plastic packaging includes plastic bottles and containers and continues to be popular in industries for food packaging applications. Containers are used to pack sauces and other consumer goods that use HDPE and LDPE material for packaging. Moreover, plastic bottles and containers gained importance in the food industry due to their ability to provide extended shelf life to packaged food items.
  • The current market scenario indicates a global demand for flexible packaging solutions for sweets and confectionery products. The need for flexible plastic is also increasing in Eastern Europe, with expected growth in volume (3.0 billion units) by 2023. Poland is expected to witness the most significant change. Also, flexible plastic has been the primary choice for packaging, especially for confectionery products.
  • According to the Department of Commerce's final 2021 trade data, the United States exported USD 177 billion worth of farm and food goods to other countries, an increase of 18% over 2020 and a 14.6% increase over the previous high from 2014. The trade statistics show that American agriculture is strong because it keeps supplying consumers worldwide with quality, reasonably priced farm, and food items. The trend is a significant gain for food processing and transportation sectors, which rely heavily on plastic packaging because it is affordable and has desirable qualities, like moisture resistance.
Plastic Packaging Market: Exports of Bulk and High-Value Agricultural Products, Value in USD Billion, United States, 2012 - 2021

Asia-Pacific to Hold the Largest Market Share

  • The Asia-Pacific packaging sector is heavily influenced by variables such as rising per capita income, changing social atmosphere, and demographics. As a result of the shift, new packaging materials, processes, and forms are required.
  • China is the largest country contributing to plastic packaging usage. The growing trend of packed meals, the increasing number of restaurants and supermarkets, and increasing bottled water and beverage consumption are significant driving factors of the country's market growth.
  • According to the National Bureau of Statistics of China, in December 2021, China produced about 7.95 million metric tons of plastic products. Such an increase in plastic product use in China is expected to drive the market demand for various rigid plastic packaging products.
  • Moreover, the market vendors are offering products that focus on sustainability commitments. For instance, as part of its commitment to sustainability, the manufacturer of laminated plastic tubes, Essel Propack, based in India, has produced recyclable HDPE barrier tubes. Platina 250 and Green Maple Leaf (GML) 300 Lamitubeswere created for brands looking to switch to recyclable, environmentally friendly barrier packaging formats.
  • According to the Japan Plastics Industry Federation, the number of plastic containers in Japan increased significantly in the first quarter of 2022. The trend is expected to increase the market demand for plastic bottles in the country for various end-user customers.
  • Furthermore, in March 2022, Tosoh, a Japanese petrochemical manufacturer, aimed to construct its chemical recycling technology by the end of March 2025 to extract raw monomers from mixed polymers. The producer began researching the technique in November of 2021 in collaboration with Tohoku University, recycling company KeiwaKogyo, water treatment company TohzaiChemical Industry, and state-owned research institute National Institute of Advanced Industrial Science and Technology.
Global Plastic Packaging Market - Growth Rate by Region (2022 - 2027)

Plastic Packaging Industry Overview

The global plastic packaging market is highly competitive because of the presence of many players running their businesses within national and international boundaries. The market is mildly concentrated with the presence of major players like Alpla Group, Amcor plc, Berry Global Inc., and Mondi PLC.

  • May 2022 - Amcor PLC developed its latest technology, PowerPostTM, which delivers a bottle up to 30% lighter and can be made from 100% recycled material. The technology was developed for hot-fill beverages and avoids spills from overflow. Furthermore, the product is built on a vacuum-absorbing technology, PowerStrap.
  • March 2022 - The ALPLA Group acquired the recycling company Texplastfrom the FROMM Group and all its shares in the joint venture, PET Recycling Team Wolfen. The international company will increase its annual processing volume in Germany to 75,000 tons of PET bottles.

Plastic Packaging Market Leaders

  1. Mondi plc

  2. ALPLA Group

  3. Huhtamaki Oyj

  4. Amcor plc

  5. Berry Global Inc.

*Disclaimer: Major Players sorted in no particular order

Plastic Packaging Market Concentration

Plastic Packaging Market News

  • March 2022 - Berry Global Inc. partnered with Koa to launch body cleanser & body moisturizer bottles made from 100% recycled plastic. As an industry leader in sustainability, Berry places a firm focus on creating a positive environmental impact through streamlined operations, continuously engaged partners, and optimized products, a vision shared by Koa. Koa chose Berry as their supplier for this project due to the shared vision for sustainability in packaging.
  • January 2022 - Novolex introduced an innovative recyclable tray for meat, fish, and poultry products. The container is named Piranh. It is sealed using a series of raised teeth that run around the sealing flange instead of applying a layer of polyethylene or adhesive, which are typically used to seal the lid of modified atmosphere packaging (MAP).

Plastic Packaging Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Threat of New Entrants

      2. 4.2.2 Bargaining Power of Buyers/Consumers

      3. 4.2.3 Bargaining Power of Suppliers

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Assessment of the Impact of COVID-19 on the Market

    4. 4.4 Industry Value Chain Analysis

    5. 4.5 Market Dynamics

      1. 4.5.1 Market Drivers

        1. 4.5.1.1 Growing Geriatric Population and Prevalence of Diseases

        2. 4.5.1.2 Product Innovations such as Downsizing coupled with Relatively Low Costs

      2. 4.5.2 Market Challenges

        1. 4.5.2.1 Dynamic Nature of Regulations and Inability to Support Heavy Goods

  5. 5. MARKET SEGMENTATION

    1. 5.1 RIGID PLASTIC PACKAGING

      1. 5.1.1 Material

        1. 5.1.1.1 Polyethylene (PE)

        2. 5.1.1.2 Polyethylene terephthalate (PET)

        3. 5.1.1.3 Polypropylene (PP)

        4. 5.1.1.4 Polystyrene (PS) and Expanded polystyrene (EPS)

        5. 5.1.1.5 Polyvinyl chloride (PVC)

        6. 5.1.1.6 Other Rigid Plastic Packaging Materials

      2. 5.1.2 Product

        1. 5.1.2.1 Bottles and Jars

        2. 5.1.2.2 Trays and containers

        3. 5.1.2.3 Other Product Types

      3. 5.1.3 End-user Industry

        1. 5.1.3.1 Food

        2. 5.1.3.2 Beverage

        3. 5.1.3.3 Healthcare

        4. 5.1.3.4 Cosmetics and Personal Care

        5. 5.1.3.5 Other End-user Industries

      4. 5.1.4 Geography

        1. 5.1.4.1 North America

          1. 5.1.4.1.1 Material

          2. 5.1.4.1.2 End-user Industry

          3. 5.1.4.1.3 Country

            1. 5.1.4.1.3.1 United States

            2. 5.1.4.1.3.2 Canada

        2. 5.1.4.2 Europe

          1. 5.1.4.2.1 Material

          2. 5.1.4.2.2 End-user Industry

          3. 5.1.4.2.3 Country

            1. 5.1.4.2.3.1 United Kingdom

            2. 5.1.4.2.3.2 Germany

            3. 5.1.4.2.3.3 France

            4. 5.1.4.2.3.4 Italy

            5. 5.1.4.2.3.5 Spain

            6. 5.1.4.2.3.6 Rest of Europe

        3. 5.1.4.3 Asia-Pacific

          1. 5.1.4.3.1 Material

          2. 5.1.4.3.2 End-user Industry

          3. 5.1.4.3.3 Country

            1. 5.1.4.3.3.1 China

            2. 5.1.4.3.3.2 India

            3. 5.1.4.3.3.3 Japan

            4. 5.1.4.3.3.4 Australia

            5. 5.1.4.3.3.5 South Korea

            6. 5.1.4.3.3.6 Indonesia

            7. 5.1.4.3.3.7 Rest of Asia-Pacific

        4. 5.1.4.4 Latin America

          1. 5.1.4.4.1 Material

          2. 5.1.4.4.2 End-user Industry

          3. 5.1.4.4.3 Country

            1. 5.1.4.4.3.1 Brazil

            2. 5.1.4.4.3.2 Argentina

            3. 5.1.4.4.3.3 Mexico

            4. 5.1.4.4.3.4 Rest of Latin America

        5. 5.1.4.5 Middle East & Africa

          1. 5.1.4.5.1 Material

          2. 5.1.4.5.2 End-user Industry

          3. 5.1.4.5.3 Country

            1. 5.1.4.5.3.1 United Arab Emirates (UAE)

            2. 5.1.4.5.3.2 Saudi Arabia

            3. 5.1.4.5.3.3 South Africa

            4. 5.1.4.5.3.4 Rest of Middle East & Africa

    2. 5.2 FLEXIBLE PLASTIC PACKAGING

      1. 5.2.1 Material Type

        1. 5.2.1.1 Polyethene (PE)

        2. 5.2.1.2 Bi-orientated Polypropylene (BOPP)

        3. 5.2.1.3 Cast polypropylene (CPP)

        4. 5.2.1.4 Polyvinyl Chloride (PVC)

        5. 5.2.1.5 Ethylene Vinyl Alcohol (EVOH)

        6. 5.2.1.6 Other Material Types

      2. 5.2.2 Product Type

        1. 5.2.2.1 Pouches

        2. 5.2.2.2 Bags

        3. 5.2.2.3 Films & Wraps

        4. 5.2.2.4 Other Product Types

      3. 5.2.3 End-user Industry

        1. 5.2.3.1 Food

          1. 5.2.3.1.1 Baked Food

          2. 5.2.3.1.2 Snacked Food

          3. 5.2.3.1.3 Meat, Poultry & Sea Food

          4. 5.2.3.1.4 Candy/Confections

          5. 5.2.3.1.5 Pet Food

          6. 5.2.3.1.6 Other Food

        2. 5.2.3.2 Beverage

        3. 5.2.3.3 Cosmetics & Personal Care

        4. 5.2.3.4 Other End-user Industries

      4. 5.2.4 Geography

        1. 5.2.4.1 North America

          1. 5.2.4.1.1 Material Type

          2. 5.2.4.1.2 End-user Industry

          3. 5.2.4.1.3 Country

            1. 5.2.4.1.3.1 United States

            2. 5.2.4.1.3.2 Canada

        2. 5.2.4.2 Europe

          1. 5.2.4.2.1 Material Type

          2. 5.2.4.2.2 End-user Industry

          3. 5.2.4.2.3 Country

            1. 5.2.4.2.3.1 United Kingdom

            2. 5.2.4.2.3.2 Germany

            3. 5.2.4.2.3.3 France

            4. 5.2.4.2.3.4 Rest of Europe

        3. 5.2.4.3 Asia-Pacific

          1. 5.2.4.3.1 Material Type

          2. 5.2.4.3.2 End-user Industry

          3. 5.2.4.3.3 Country

            1. 5.2.4.3.3.1 China

            2. 5.2.4.3.3.2 India

            3. 5.2.4.3.3.3 Japan

            4. 5.2.4.3.3.4 Rest of Asia-Pacific

        4. 5.2.4.4 Latin America

          1. 5.2.4.4.1 Material Type

          2. 5.2.4.4.2 End-user Industry

          3. 5.2.4.4.3 Country

            1. 5.2.4.4.3.1 Brazil

            2. 5.2.4.4.3.2 Argentina

            3. 5.2.4.4.3.3 Mexico

            4. 5.2.4.4.3.4 Rest of Latin America

        5. 5.2.4.5 Middle East & Africa

          1. 5.2.4.5.1 Material Type

          2. 5.2.4.5.2 End-user Industry

          3. 5.2.4.5.3 Country

            1. 5.2.4.5.3.1 United Arab Emirates (UAE)

            2. 5.2.4.5.3.2 South Africa

            3. 5.2.4.5.3.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 DS Smith PLC

      2. 6.1.2 ES-Plastic GmbH

      3. 6.1.3 Pact Group

      4. 6.1.4 Liquibox (Olympus Partners)

      5. 6.1.5 UFlex Limited

      6. 6.1.6 Anchor Packaging LLC

      7. 6.1.7 Plastipak Holdings Inc.

      8. 6.1.8 Dart Container Corporation

      9. 6.1.9 ALPLA Group

      10. 6.1.10 Amcor PLC

      11. 6.1.11 American Packaging Corporation

      12. 6.1.12 Berry Global Inc.

      13. 6.1.13 Constantia Flexibles Group GmbH

      14. 6.1.14 Mondi PLC

      15. 6.1.15 Novolex

      16. 6.1.16 Printpack Inc.

      17. 6.1.17 Reynolds Consumer Products Inc.

      18. 6.1.18 Quadpack Industries SA

      19. 6.1.19 Sealed Air Corporation

      20. 6.1.20 Sigma Plastics Group

      21. 6.1.21 Sonoco Products Company

      22. 6.1.22 Tetra Pak International SA (Tetra Laval Group)

      23. 6.1.23 Toppan Inc.

      24. 6.1.24 Transcontinental Inc.

      25. 6.1.25 Winpak Ltd

      26. 6.1.26 Huhtamaki Oyj

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. FUTURE OF THE MARKET

**Subject to Availability

Plastic Packaging Industry Segmentation

Plastics are used in packaging materials, such as food, beverage, and oil. Plastics are used mainly because of their performance, cost-effectiveness, and durability. Plastics can be of different grades and different material combinations based on the type of product being packed, like polyethylene, polypropylene, polyvinyl chloride, etc.

The global plastic packaging market is segmented into rigid plastic packaging (material type (polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP), polystyrene (PS) & expanded polystyrene (EPS), and polyvinyl chloride (PVC)), product (bottles & jars, and trays & containers), end-user industry (food, beverage, healthcare, and cosmetics & personal care) and geography). It is also segmented into flexible plastic packaging (material type (polyethylene (PE), bi-orientated polypropylene (BOPP), cast polypropylene (CPP), polyvinyl chloride (PVC), ethylene vinyl alcohol (EVOH)), product type (pouches, bags, and films & wraps), end-user industry (food, beverage, cosmetics and personal care) and geography).

RIGID PLASTIC PACKAGING
Material
Polyethylene (PE)
Polyethylene terephthalate (PET)
Polypropylene (PP)
Polystyrene (PS) and Expanded polystyrene (EPS)
Polyvinyl chloride (PVC)
Other Rigid Plastic Packaging Materials
Product
Bottles and Jars
Trays and containers
Other Product Types
End-user Industry
Food
Beverage
Healthcare
Cosmetics and Personal Care
Other End-user Industries
Geography
North America
Material
End-user Industry
Country
United States
Canada
Europe
Material
End-user Industry
Country
United Kingdom
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
Material
End-user Industry
Country
China
India
Japan
Australia
South Korea
Indonesia
Rest of Asia-Pacific
Latin America
Material
End-user Industry
Country
Brazil
Argentina
Mexico
Rest of Latin America
Middle East & Africa
Material
End-user Industry
Country
United Arab Emirates (UAE)
Saudi Arabia
South Africa
Rest of Middle East & Africa
FLEXIBLE PLASTIC PACKAGING
Material Type
Polyethene (PE)
Bi-orientated Polypropylene (BOPP)
Cast polypropylene (CPP)
Polyvinyl Chloride (PVC)
Ethylene Vinyl Alcohol (EVOH)
Other Material Types
Product Type
Pouches
Bags
Films & Wraps
Other Product Types
End-user Industry
Food
Baked Food
Snacked Food
Meat, Poultry & Sea Food
Candy/Confections
Pet Food
Other Food
Beverage
Cosmetics & Personal Care
Other End-user Industries
Geography
North America
Material Type
End-user Industry
Country
United States
Canada
Europe
Material Type
End-user Industry
Country
United Kingdom
Germany
France
Rest of Europe
Asia-Pacific
Material Type
End-user Industry
Country
China
India
Japan
Rest of Asia-Pacific
Latin America
Material Type
End-user Industry
Country
Brazil
Argentina
Mexico
Rest of Latin America
Middle East & Africa
Material Type
End-user Industry
Country
United Arab Emirates (UAE)
South Africa
Rest of Middle East & Africa

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Plastic Packaging Market Research FAQs

The Global Plastic Packaging Market size is expected to reach 99.92 million tonnes in 2023 and grow at a CAGR of 3.56% to reach 119.02 million tonnes by 2028.

In 2023, the Global Plastic Packaging Market size is expected to reach 99.92 million tonnes.

Mondi plc, ALPLA Group, Huhtamaki Oyj, Amcor plc and Berry Global Inc. are the major companies operating in the Global Plastic Packaging Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the Asia-Pacific accounts for the largest market share in the Global Plastic Packaging Market.

Plastic Packaging Industry Report

Statistics for the 2023 Plastic Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Plastic Packaging analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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