Russia Plastic Packaging Market Size

Russia Plastic Packaging Market Analysis

The Russian plastic packaging market registered a CAGR of 1.43% over the forecast period. Consumers have shown an increasing inclination toward plastic packaging compared to other packaging products, 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.

• The introduction of polyethylene terephthalate (PET) and high-density polyethylene (HDPE) polymers has expanded plastic packaging applications in the liquid packaging segment. High-density polyethylene plastic bottles are popular packaging choices for milk and fresh juice products.
• The rise in the working women population in the country is increasing the overall demand for packaged food as these consumers also contribute to significant spending power and a busy lifestyle.
• The stringent regulations on plastic use can hinder the market's growth. The availability of substitutes in the market can also impact market growth. However, with increasing awareness about health concerns and the prevention of waterborne diseases, consumers are continuously purchasing packaged water. With the increased sales of bottled drinking water, the demand for plastic packaging is rising, driving the market.
• Since the start 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 because consumers were concerned that reusable packaging would increase the risk of transmission.
• However, as per Vanden Recycling Ltd, there has been no reduction in demand for PET and HDPE for use in plastic bottles. Other polymers are also for other plastic packing applications.
• Further, the current war between Russia and Ukraine is impacting the country's plastic packaging market as many production units have halted production.