Single-Use Plastic Packaging Market: An Overview
Growth in packaging for the food & beverage industry owing to urbanization and busy lifestyles has led to the demand for single-use plastic packaging. Transparency, strength, flexibility, easy availability and low cost have led to the adoption of single-use plastic packaging across various industries. In addition, single-use plastic packaging does not degrade in extreme environments and can survive changes in temperature which makes it an excellent packaging material for transportation and shipment. Single-use plastic packaging protects the product from contamination and prevents water, grease and dirt from damaging the product. High convenience and printability are expected to propel the demand for single-use plastic packaging. Single-use plastic packaging often has smaller environmental footprints. Many industries demand single-use plastic packaging to prevent cross- contamination and infection. This is likely to augment the market growth of single-use plastic packaging.
Single-Use Plastic Packaging Market: Dynamics
One of the key drivers for the growth of single-use plastic packaging is pharmaceutical industry growth. Single-use plastic packaging is used heavily for the packaging of medical supplies, syringes, medicines and instruments. Pharmaceutical products pass through various levels of the supply chain before reaching the end-user. Therefore, single-use plastic packaging helps to reduce the risk of contamination which safeguards the interests of the end-users. Moreover, E-commerce growth has led to brand owners choosing lightweight and flexible packaging as it allows for optimum storage during shipment of the packages. Rising growth of e-commerce specially in emerging economies such as India and China is likely to fuel the market demand for single-use plastic packaging. Changing lifestyles and urbanization have led to the growth in food & beverage, healthcare, home care, personal care and emerging e-commerce which is anticipated to boost the market demand for single-use plastic packaging. Convenience and cost savings enhance the profit margin for the brand-owners makes its usage widely accepted.
Waste and disposal management are growing concerns associated with single-use plastic packaging. Improper disposal leads to environmental hazards and increases plastic pollution. This is likely to hinder the growth of single-use plastic packaging market.
Single-Use Plastic Packaging Market: Regional Outlook
Asia Pacific is likely to dominate the single-use plastic packaging market owing to rapidly growing industries in emerging economies such as India, China and South Korea. Asia Pacific region has high demand and high manufacturing capacity due to the large population. The large Consumer base for various industries such as food & beverage, health care, home care and personal care is anticipated to fuel the demand for single-use plastic packaging. Ban of single-use plastics in Europe and North America is expected to hinder the growth of single-use plastic packaging market.
Single-Use Plastic Packaging Market: Impact of COVID 19
The COVID 19 outbreak has delayed the production and operations across the globe. The standstill has led to growth in e-commerce industry where packaging plays an important role. The advent of single-use plastics packaging for the healthcare industry is anticipated to boost owing to demand for medical supplies and food & beverages due to its protective and hygienic qualities. Easy disposal prevents the risk of contamination. Disposal single-use plastic bags are making a comeback because of fears regarding reusable bags which can increase the risk of contamination. This is expected to hike the market demand for single-use plastic packaging.
Single-Use Plastic Packaging Market: Key Players
Key players in the single-use plastic packaging market are as follows,
- Bemis Company Inc.
- Zipz Inc.
- Transcontinental Inc.
- Ardagh Group S.A.
- Winpak Limited
- Snapsil Corporation
- Sealed Air Corporation
- Coveris S.A
- Flextrus AB
- Ampac Holding
Single-Use Plastic Packaging Market: Segmentation
Single-Use Plastic Packaging Market can be segmented on the basis of type, material and end-user industry.
By Type, Single-Use Plastic Packaging Market can be segmented as
By Material, Single-Use Plastic Packaging Market can be segmented as
- High-density polyethylene (HDPE)
- Low-density polyethylene (LDPE)
- Polyethylene terephthalate (PET)
- Polypropylene (PP)
- Polystyrene (PS)
- Expanded Polystyrene (EPS)
By End-User Industry, Single-Use Plastic Packaging Market can be segmented as
- Food & Beverage
- Home Care
- Health Care
- Personal Care
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