The global plastic packaging market size was US$ 271.1 billion in 2021. The global plastic packaging market is forecast to grow to US$ 441.6 billion by 2030 by growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2022 to 2030.

Factors Influencing the Market

The plastic packaging market is forecast to benefit from the growing demand for packed food & beverages globally. In addition, the growing demand for plastic packaging in the healthcare segment is forecast to propel the market forward.

The changing consumers lifestyles, choices, and preferences and growing urbanization will contribute to the growth of the global plastic packaging market. In addition, the growing employment rate and increasing demand for convenience processed will drive the market forward. The evolving e-commerce segment and increasing promotion of packed food items and other products will contribute to the growth of the global plastic packaging market. The increasing demand for lightweight and flexible packaging will offer ample growth opportunities for the global plastic packaging market.

The plastic packaging business is evolving and implementing improvements that are advantageous to all segments as a result of challenges such as the impact of plastic on the environment, changing consumer requirements and tastes, and increasing demand for eco-friendly packaging.

During the projected period, demand for personal care products with appealing plastic packaging is forecast to rise. As a result, it will escalate the growth of the plastic packaging market during the study period.

COVID-19 Impact Analysis

The COVID-19 epidemic has had a significant impact on the growth of the plastic packaging business. The supply and demand for vital supplies have surged significantly due to lockdown and travel bans. The stockpile of vital items grew, and product delivery via the internet grew at an exponential rate. As a result, the demand for plastic packaging in the delivery of items to the doorstep has increased. Furthermore, the demand for medical and personal protective equipment has skyrocketed in the region. Thus, it will boost the plastic packaging market growth.

Regional Analysis

Asia-Pacific is forecast to hold the largest share in the global plastic packaging market due to the rising demand for packed food and beverages. In addition, the region is witnessing rising demand for novel pharmaceuticals. As a result, it will benefit the plastic packaging market.

The demand for cosmetics is observed to increase in the region. In addition, the growing urbanization will benefit the market. All of these factors are forecast to contribute to the growth of the global plastic packaging market.

Competitors in the Market

Amcor Limited
Berry Global Inc.
Double H Plastics
Greiner Packaging International GmbH
Groupe Guillin
Ilip SRL
Mold-Tek Packaging
Reynolds Group Holdings
RPC Group PLC
Silgan Holdings
Other Prominent Players
Market Segmentation

The global plastic packaging market segmentation focuses on Product, Material, End-User, and Region.

Based on product type, the plastic packaging market is segmented into

Bottles & Jars
Cups & Bowls
Wraps & Films
Bags & Pouches
Others (Pails and Clamshells)
Based on material type, the plastic packaging market is segmented into-

Polypropylene (PP)
Polyethylene (PE)
Poly Vinyl Chloride (PVC)
Polystyrene (PS)
Bioplastic
Polyethylene Terephthalate (PET)
Others (Polyamide)
Based on end-user, the plastic packaging market is segmented into-

Food & Beverages
Pharmaceuticals
Cosmetics and Personal Care
Industrial Packaging
Others (Electronics)
Based on region, the plastic packaging market is segmented into-

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America