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Single-Use Packaging Global market Report 2024 – Market Size, Trends, And Forecast 2024-2033
Single-Use Packaging Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UK, September 12, 2024 /EINPresswire / -- The single-use packaging market has experienced robust growth in recent years, expanding from $30.87 billion in 2023 to $33.34 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to convenience and on-the-go lifestyles, reduction of environmental impact, food safety and preservation, growth in the food and beverage industry, shift in consumer preferences, regulations and industry standards, expansion of e-commerce and delivery services.
Strong Future Growth Anticipated
The single-use packaging market is projected to continue its strong growth, reaching $45.65 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to sustainable and eco-friendly single-use packaging, increased demand for single-serve products, e-commerce packaging solutions, enhanced food traceability and safety, customization and personalization of packaging, aging population and convenience packaging.
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Growth Driver Of The Single-Use Packaging Market
The increasing number of food retail chains, restaurants, and hotels is expected to propel the growth of the single-use packaging market going forward. Food retail chains refer to networks of interconnected stores offering diverse food products, while restaurants and hotels provide prepared meals, beverages, and accommodations with varying on-site dining options for consumers. Single-use packaging plays a critical role in preserving food freshness and ensuring the safe delivery of meals for takeout and delivery orders.
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Major Players And Market Trends
Key players in the single-use packaging market include Ardagh Group S.A., Chevron Corporation, SNAPSIL Corporation, Transcontinental Inc., Sealed Air Corporation, Amcor plc., Dart Container Corporation.
Major companies operating in the single-use packaging market are developing plastic-free sustainable packaging products to enhance sustainable product offerings. Plastic-free sustainable packaging products are eco-friendly materials and designs that minimize or eliminate the use of plastic while ensuring long-term environmental and social responsibility.
Segments:
1) By Product: Rigid Packaging, Flexible Packaging
2) By Material Type: Paper and Paper Board, Plastic, Glass, Other Material Types
3) By End-User Industry: Food, Beverage, Personal Care, Pharmaceutical, Other End-user Industries
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the single use packaging market in 2023. The regions covered in the single-use packaging market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Single-Use Packaging Market Definition
Single-use packaging refers to packaging that is used to provide non-repetitive packaging materials for packaging different commodities and helps to reduce the cost of packaging in industries. Single-use packaging can be recycled easily, and it is the packaging of commodities such as food and beverages, pharmaceuticals, personal care and cosmetics, and others with paper, paperboard, plastic, glass, and other materials that are disposable or recyclable.
Single-Use Packaging Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Single-Use Packaging Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on single-use packaging market size, single-use packaging market drivers and trends, single-use packaging market major players, single-use packaging competitors' revenues, single-use packaging market positioning, and single-use packaging market growth across geographies. The single-use packaging market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.