Plastic Packaging Market Research Report, Trends, Analysis and Forecast to 2026

extends shelf life of products from breakage, spoilage and contamination. It acts as a medium to offer consumer information about the product and manage brand identity and differentiation. In addition, plastic packaging companies have matured with the advent of technology and overall environmental awareness. Also these companies are comprehensively overshadowing paper and cardboard packaging industry with increased revenues and penetration into newer markets as the demand for more powerful and secure packaging solutions are derived from plastic packaging. 

The “Global Plastic Packaging Market” is accounted for $301.52 billion in 2017 and is expected to reach $486.58 billion by 2026 growing at a CAGR of 5.4% during the forecast period.

The global plastic packaging market is growing steadily in which mature markets are providing a modest growth rate whereas the new emerging markets are opening up new opportunities for prospective growth rate. With issues relating to impacts of plastic on the environment, changing consumer needs and increasing demand, plastic packaging industry is improving and incorporating the changes that are beneficial to all segments. Moreover, plastic packaging demand is expected to scale high as the growth of middle class in developing nations continues, with more consumers recorded, the requirement and supply for sustainable packaging in increasing. 

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The sustainability factor is what’s driving more demand in developed nations. Increased environmental concerns have made consumers aware and the need to recycle and reusable quality is required by the consumer base. The recyclability factor has provided great opportunities for markets and manufacturers to discover and innovate with materials that are not harmful to nature. There is a huge pressure from the public to brand owners and retailers to reduce environmental impact of packaging; from leaving carbon footprints to non-degradable materials. In response the plastic packaging industry is reducing the impact to nature by reducing the weight and usage of materials that are bio-degradable or the materials that are sustainable. Technology has played an important role in the growth of market along with demographic influences. Faster and efficient machineries and improved formulas are driving the expansion of plastic packaging market to every corner worldwide. Furthermore, the increasing introduction of innovative packaging solutions such as active, modified atmosphere, edible, and bioplastic packaging is also expected to open newer avenues in the coming years.

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The Asia-Pacific region is expected to witness significant market growth during the forecast period, due to the rising disposable income, increasing consumer expenditure, and growing population are likely to increase the demand for consumer goods, which in turn will support the growth of the plastic packaging market in Asia-Pacific. With the development in the applications of rigid plastic packaging in the food, beverage, and healthcare industries the market is poised to grow. Furthermore, the growth from countries like India, China, and Indonesia drives the Asia-Pacific region to lead the packaging demand from the global beauty and personal care industry. 

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Manufacturers are launching new pack formats, sizes, and functionality in response to the consumer demand for expediency. Also with the growth in oral, skin care, niche categories, such as men’s grooming and baby care, Asia-Pacific is both an exciting and challenging region for packaging manufacturers. In addition, China and India are expected to emerge as major revenue contributors to the flexible plastic packaging in Asia Pacific. This is mainly due to the rapid expansion of end-user industries, such as e-commerce, Fast-moving consumer goods (FMCG), and personal care, along with the changes in lifestyle resulting from an increase in disposable incomes. In India, a large amount of products that households buy for daily use are packaged in plastics.