Single-Use Packaging Market Share, Trends, Growth Rate, Industry Report And Forecast To 2033

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..

Market Overview -
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.

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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

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.

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Key Segments -
The single-use packaging market covered in this report is segmented -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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