Global Plastic Packaging Market: Trends, Growth, Impact of COVID-19, and Forecasts

Plastic Packaging Market

Global Plastic Packaging Market: Trends, Growth, Impact of COVID-19, and Forecasts

Global Plastic Packaging Market: Trends, Growth, Impact of COVID-19, and Forecasts

The global plastic packaging market has witnessed significant growth in recent years and is expected to continue growing at a steady pace in the coming years. The market is driven by various factors, including increased demand for packaged goods, technological advancements in the packaging industry, and growing concerns for sustainable packaging solutions.

There is a growing trend towards convenient and portable products, driving up the demand for small and single-serve packaging options. With the rapid expansion of the e-commerce sector, there is an even greater need for sustainable and secure packaging solutions. As environmental concerns continue to rise and carbon footprint reduction becomes a priority, eco-friendly and sustainable packaging options are also in high demand. Additionally, the use of intelligent and active packaging is on the rise, as these solutions offer improved product safety, freshness, and extended shelf-life.

The COVID-19 pandemic had a mixed impact on the packaging market. On one hand, the demand for essential goods such as food, medicines, and personal care products increased, leading to a surge in demand for packaging solutions. On the other hand, the pandemic disrupted global supply chains and led to a decline in demand for non-essential goods, affecting the packaging industry. Additionally, the pandemic has accelerated the adoption of e-commerce, leading to an increased demand for secure and sustainable packaging solutions.

The global plastic packaging market size  is expected to continue growing at a steady pace in the coming years, driven by the increasing demand for packaged goods and the adoption of sustainable packaging solutions. The Asia-Pacific region is expected to witness the highest growth due to its large population, growing middle-class, and increasing demand for packaged goods. The market is also expected to see an increased adoption of smart packaging solutions, such as active and intelligent packaging, which offer improved product safety and shelf-life. Overall, the global packaging market is expected to be worth USD 1.05 trillion by 2026, growing at a CAGR of 4.5% from 2021 to 2026.

During the forecast period of 2022-2027, the sustainable packaging market is projected to grow at a compound annual growth rate of 7.55%. The outbreak of COVID-19 has caused many companies to divert from their sustainability goals of banning plastic. As studies have shown that the virus can be transmitted through cardboard and plastic, the use of single-use materials like cling film for wrapping fruits and vegetables in supermarkets has increased.

Sustainable packaging therefore refers to the development and utilization of packaging that promotes sustainability. This involves using life cycle inventory and life cycle assessment to guide packaging design, thereby reducing environmental impact and ecological footprint. 

According to a survey by the Ocean Conservancy, 8 million metric tons of plastic enter the ocean every year, in addition to the estimated 150 million metric tons already present globally. The results of the survey indicate that 2025 will be a landmark year for sustainable packaging, with over 40% of respondents anticipating the implementation of new materials and sustainable strategies within five years. Companies are already working to develop a circular economy with sustainable packaging by utilizing biodegradable or compostable materials and redesigning packaging to minimize waste.

The use of non-recyclable, non-biodegradable plastic packaging solutions results in high carbon emissions, which has led major players such as Amazon, Google, and Tetrapak to aim for net-zero emissions. Achieving this goal is expected to be capital-intensive, but it is necessary to reduce the carbon footprint on the environment.

This report  thus provides an overview of the Global Plastic Packaging Market Share and predicts a Compound Annual Growth Rate (CAGR) of 3.56% during the forecast period. The report notes that consumers are increasingly drawn to plastic packaging due to its lightweight and easy handling properties, resulting in a preference for plastic packaging solutions by manufacturers due to their lower production costs.

The e-commerce industry’s rapid expansion is thus expected to create new opportunities for market expansion, with lightweight and flexible packaging options favoured to cut transportation costs. Innovative packaging solutions, such as active packaging, modified environment packaging, edible packaging, and bioplastic packaging, are also anticipated to provide greater opportunities for plastic packaging.

However, the plastic packaging market industry may face challenges due to growing sustainability awareness and a strict prohibition on single-use plastic to reduce plastic pollution. Since the COVID-19 pandemic, consumers and businesses have been altering how they view packaging health and safety, resulting in increased importance for single-use plastic due to concerns of transmission.

As the use of environmentally friendly materials in packaging increases, the market for eco-friendly packaging is growing rapidly. Paper packaging materials such as bags, pouches, and cartons are among the fastest growing sustainable packaging materials. As online retail increases and environmental regulations apply to non-biodegradable and non-recyclable packaging solutions, paper packaging solutions are becoming more eco-friendly. Companies are increasingly focused on sustainable packaging solutions that meet consumer demands, and they are developing innovative platforms for collaboration. For example, many entrepreneurs or food packaging specialists have developed some platforms where partners can collaborate to brainstorm sustainable paper packaging.

The Global Plastic Packaging Market Growth is governed by several significant factors including sustainable competitive advantages through innovation, levels of market penetration, barriers to exit, advertising expense power of competitive strategy, and firm concentration ratio. Innovation gives the market players a competitive edge, especially in plastic packaging where different specifications of packaging materials provide a high possibility of product differentiation.

The global plastic packaging market analysis has been growing steadily over the years, driven by increasing demand for packaged consumer goods and growing awareness of the benefits of plastic packaging, such as its durability, flexibility, and lightweight nature. However, the COVID-19 pandemic has had a significant impact on the industry, disrupting supply chains and causing changes in consumer behaviour.

In response to the pandemic, there has been a growing trend towards sustainability and environmental responsibility in the plastic packaging market, with many companies and governments implementing initiatives to reduce plastic waste and promote recycling. This trend is expected to continue in the coming years, as consumers become more aware of the environmental impact of plastic packaging and demand more sustainable alternatives.


Despite these challenges, the global plastic packaging market is expected to continue to grow in the coming years, driven by increasing demand in emerging economies, such as China and India, and continued innovation in the industry, such as the development of biodegradable and compostable plastics. However, the industry will need to adapt to changing consumer preferences and regulatory pressures in order to remain competitive and sustainable in the long term.

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Our team of expert market researchers can provide you with the insights and data you need to make informed business decisions and achieve your goals.

Whether you’re looking to expand into new markets, develop new products, or improve your supply chain, our customised market research solutions can help you get there.

So don’t wait – contact Excelsior Research today to learn more about how we can help you succeed in the dynamic and ever-changing packaging industry. Your business deserves the best, and we’re here to deliver.

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