Saudi Arabia Plastic Packaging Market Size

Saudi Arabia Plastic Packaging Market Analysis

The Saudi Arabia Plastic Packaging Market size is estimated at USD 8.06 billion in 2024, and is expected to reach USD 9.26 billion by 2029, growing at a CAGR of 2.81% during the forecast period (2024-2029).

Plastic packaging has become popular among consumers over other products, as plastic is lightweight and unbreakable, and is also easier to handle. Even significant players across regions 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.

• Saudi Arabia is quickly emerging as one of the key markets in the Middle Eastern area for the plastic packaging sector. Aside from the oil and gas industry, the nation has a sizable consumer base and a broad range of industrial pursuits, contributing to the rapid annual increase in demand for plastic packaging.
• Additionally, the strong growth in the revenues from the non-oil sector and a considerable recovery in the Saudi Arabian economy due to the reviving crude oil prices are expected to set a positive outlook for the packaging industry in the country. Over the past few years, it has been observed that consumers in the country are moving toward sustainable packaging. Therefore, recyclable plastic packaging is expected to gain traction in the industry.
• Moreover, Saudi Arabia is witnessing a growing demand for halal beauty products. As the country majorly consists of Islamic population, these products have gained enormous popularity in the region. The popularity of these products is not limited to the Muslim community only. They have also gained importance among non-Muslim consumers, which is the major factor in the region's growth of halal cosmetics and vegan cosmetic products.
• The increasing awareness of the environmental effect of single-use plastic and unsustainable business practices have empowered consumers to demand a higher standard of products with less environmental impact.
• Multiple countries changed their usage of single-use plastics due to the COVID-19 epidemic, which affected the market under study. In order to keep up with an increase in demand for single-use plastic packaging and medical goods, supply networks became overburdened.