Global Single Use Plastic Packaging Market Size

Single Use Packaging Market Analysis

The Global Single Use Plastic Packaging Market size is estimated at USD 23.47 billion in 2024, and is expected to reach USD 28.16 billion by 2029, growing at a CAGR of 3.71% during the forecast period (2024-2029).

The COVID-19 pandemic provided significant relief to the single-use packaging vendors. Although many countries were slowly banning such packaging and promoting reusable packaging, the outbreak changed the consumers' and governments' behavior toward them.

Due to the COVID-19 outbreak, the demand for nutritional drinks and healthy food increased exponentially. The majority of these products are packaged with single-use plastic. The orders were so huge on a global level that the manufacturers and packaging companies in the field even expanded their facilities, which was also supported by most of the governments.

• Factors driving the market's growth include the growing demand for online food delivery services and the use of single-use packaging that offers increased convenience and utility. Single-use plastics are still being considerably used due to their lightweight and durable properties compared to other materials, despite having significant effects on the environment. However, the effect of the driver will gradually decrease once alternatives to single-use plastics gain significant traction in the market.
• According to Business Insider, online packaged food sales in the United States are expected to reach USD 166 billion in 2021 from USD 6 billion in 2012. The growth in end-user industry consumption is also increasing the demand for single-use packaging. Most of these end-users are adopting single-use packaging due to their low cost and easy availability. This has also affected the recycling industry across the world.
• Several companies are switching their production lines from plastic to natural fiber-based options due to the ban on single-use plastics in several countries. For instance, BFG Eco Packaging, which makes boxes, plates, and trays from polystyrene and polypropylene, makes products using sugarcane fiber, a sub-product obtained during the sugar manufacturing process. Also, banking on the fiber-based macro trend is Vegware, a UK packaging manufacturer, which uses renewable plant-based materials as the natural fibers provide an economical, sturdy takeaway box.
• The EU's ban on a range of single-use plastic items by 2021 came under threat as more consumers and restaurants became more dependent on disposable plastic products due to contagion fears. Consumers and vendors prefer single-use plastic to reusable plastic products. For instance, given the pandemic, Starbucks announced a temporary pause on reusable cups across its global outlets.