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Single-Use Packaging Market By Size, Shar, CAGR, Trends And Growth Forecast To 2033
Single-Use Packaging Market
As per the report, 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 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%.
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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.
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 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
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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
Contents of the report:
1. Executive Summary
2. Single-Use Packaging Market Report Structure
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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