Press release
Single-Use Packaging Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Ardagh Group S.A., Chevron Corporation, SNAPSIL Corporation, Transcontinental Inc., Sealed Air Corporation
Single-Use Packaging Market Characteristics
The Business Research Company offers in-depth market insights through Single-Use Packaging Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The single-use packaging market size has grown strongly in recent years. It will grow 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..
The single-use packaging market size is expected to see strong growth in the next few years. It will grow to $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.. Major trends in the forecast period include smart packaging with rfid and qr code technology, anti-counterfeiting features in single-use packaging, edible and dissolvable packaging materials, personalized nutritional and portion-controlled packaging, blockchain for transparent supply chain tracking, augmented reality packaging for interactive experiences..
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Market Segmentation:
The main products of the single-use packaging market are rigid packaging and flexible packaging. Rigid packaging refers to a type of packaging which is very strong and unable to bend or be forced out of shape and is not flexible. This packaging offers structure and support for products. These materials include corrugated and paperboard boxes, plastic bottles and boxes, aluminum cans, and glass jars. The various material types include paper and paper board, plastic, glass, and others. It is employed in food, beverage, personal care, pharmaceutical and other end-user industries.
Major Driver - Surge In Food Retail Chains, Restaurants, And Hotels Boosts 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. For instance, in August 2023, according to the US Bureau of Labor Statistics, a US-based federal fact-finding agency, the number of establishments in food services and drinking places in private industry for the 4th quarter of 2022 was 694,267, an increase of 4.28% compared to 665736 during the same period in 2021. Therefore, the increasing number of food retail chains, restaurants, and hotels will drive the single-use packaging market.
Competitive Landscape:
Major companies operating 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, Zipz Inc., Tetra Pak International S.A., Winpak Ltd., Mondi Group, WestRock Company, Sustainable Packaging Industries, Noissue.co, Gualapack S.p.A., ExxonMobil Corporation, China Petroleum & Chemical Corporation (Sinopec), Dow Inc., Indorama Ventures Public Company Limited, Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries N.V., Koninklijke Philips N.V., Kuwait Petroleum Corporation, China National Petroleum Corporation (CNPC), Valero Energy Corporation, Saudi Arabian Oil Company (Saudi Aramco), PetroChina Company Limited
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Top Trend - Rising Trend Of Recyclable Packaging Solutions Drives Innovations In The Single-Use Packaging Market
The emergence of recyclable packaging solutions is the key trend gaining popularity in the single-use packaging market. Major companies operating in the single-use packaging sector are focused on introducing new innovations to meet consumer demand. For instance, in January 2022, Amcor plc., a Switzerland-based manufacturer of single-use packaging materials, launched its paper-based packaging product called AmFiber. AmFiber provides a wide range of recyclable paper-based packaging solutions for snack and confectionery customers that provide a high barrier to oxygen and moisture.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Single-Use Packaging Market Characteristics
3. Single-Use Packaging Market Trends And Strategies
4. Single-Use Packaging Market - Macro Economic Scenario
5. Single-Use Packaging Market Size And Growth
…..
27. Single-Use Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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