Transparent Plastic Packaging Market Snapshot (2023 to 2033)
The global transparent plastic packaging market is anticipated to accumulate a market value of US$ 141.09 billion in 2023 and is expected to garner a valuation of US$ 250 billion by exhibiting a CAGR of 5.89% in the forecast period 2023 to 2033. The transparent plastic packaging market reflected a growth of 4.1% CAGR in the historical period 2018 to 2022.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 141.09 billion
Projected Market Value in 2033
US$ 250 billion
Growth Rate (2023 to 2033)
5.89% CAGR
The growing size of various application industries such as food and beverages, personal and household care, pharmaceuticals, and rising penetration of organized as well as e-retail across the globe, are primarily fuelling growth in the market. Plastic provides both flexible & rigid, transparent, and lightweight forms of packaging, on account of which the key industries like food and beverage, personal care, and industrial primarily prefer it over its counterparts such as glass or metal.
Engineered plastic has the capacity to survive in intense environments and does not degrade in extreme temperatures, thus maintaining the integrity of products such as food & beverages, and cosmetics. Furthermore, the low cost and excellent printability offered by transparent plastic make it a lucrative packaging material. Extrusion-based plastic packaging products including pouches, wraps & films, and bags are widely employed in many consumers as well as industrial applications owing to their sustainability and performance benefits.
Along with this, the growing penetration of organized retail is also significantly contributing to propelling product demand. Globally, the packaged food & beverage industry has been witnessing robust growth for the past several years. Changing lifestyles, increasing urban population, a surge in economic activities in emerging countries, and growing penetration of e-retail across the world are the key factors driving the global packaged food industry.
The demand for food is poised to grow as the world population is anticipated to reach 9.7 billion in 2050, which in turn is expected to drive the demand for transparent plastic packaging products. The strong growth in the e-commerce sector will also open new avenues for market growth. E-commerce companies favor lightweight and flexible packaging solutions to reduce transportation costs. The rising trend of online shopping for FMCG products, daily fresh foods, and electronic gadgets as well as clothing is estimated to spur industry growth.
On the other hand, the rising adoption of innovative packaging solutions such as active packaging, edible packaging, modified atmosphere packaging, and bioplastic packaging is also expected to present new growth prospects for transparent plastic packaging over the forecast period.
Region-wise, Asia Pacific is expected to dominate the market by accumulating 41% market share by end of the forecast period. The region is projected to grow further at the fastest CAGR of 5.6 % from 2023 to 2033. The growth is attributed to surging demand for transparent plastics from major end-use industries such as packaging, automotive, construction, consumer goods, and electronics. Rapid industrialization coupled with the changing lifestyle and the rising per capita income of consumers is stimulating the growth of these end-user industries, which in turn will increase the demand for transparent plastics in the forthcoming period.
China is expected to command the Asia Pacific market in terms of both demand and production. The high population in this region, which supports the growth of food and beverages, personal care, automotive, construction, and consumer electronics industries, is anticipated to act as a key driver for market growth. Similarly, North America is expected second highest growth in terms of market share by end of the projection period. The market in this region is estimated to grow with a CAGR of 5.2% owing to surging demand for transparent plastics from the food packaging, reviving construction, and automotive industries. Moreover, rising demand for lightweight automotive parts due to environmental concerns and strict government regulations is anticipated to drive market growth in this region.
How Competitive is the Market?
Recent developments and breakthroughs in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing transparent plastic packaging are expected to create lucrative opportunities for market growth during the forecast period.
In March 2022, Berry Global Inc. signed an agreement with Koa to launch body cleanser and body moisturizer bottles made from 100% recycled plastic. As an industry leader in sustainability, Berry places a firm focus on creating a positive environmental impact via streamlined operations, constantly engaged partners, and optimized products, a vision shared by Koa. Koa selected Berry as their main supplier for this project due to the shared vision for manufacturing sustainable packaging.
In January 2022, Novolex launched an innovative recyclable tray for fish, meat, and poultry products. The container is called ‘Piranh.’ It is sealed using a series of raised teeth that run around the sealing flange instead of applying a layer of adhesive or polyethylene, which are generally used to seal the lid of modified atmosphere packaging (MAP).
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Transparent Plastic Packaging Market Overview
The packaging industry has always been driven by the innovations and gradations of current packaging solutions by manufacturers and designers. The more attractive look and feel of packaging drive more sales of the products packed in it.
Transparent plastic packaging is been sharply increasing all over the world, along with showing staggering growth in the forecasted period over the years. Clear packaging is offered by polyethylene (PE) plastic, and such type of packaging enables to win customers’ trust as it adds to the aesthetic shelf appeal & authenticity of the product being packaged.
What Are Major Drivers For Transparent Plastic Packaging Market?
The rising consumer demand for authentic product and concerns about the quality of the product drives the popularity of transparent packaging solutions in the market for the packaging of food & beverages, industrial products, and pharmaceutical offerings.
Also the rising demand for substitutes of glass and metals as the packaging of the product and solutions, transparent plastic packaging comes as a lightweight and cost-effective solution for the manufacturers as well as the shippers.
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Which Factors Are Hindering Growth of Transparent Plastic Packaging Market?
Plastics being an environmentally hazardous material, packaging products made out of using plastics are banned or restricted in use by government institutions and regulatory bodies. Also, the environmental organizations rising concerns over the usage of plastics have an overall negative impact on the transparent packaging market globally.
What are the upcoming opportunities for the Transparent Plastic Packaging Market?
The packaging industry has been trying to come up with different eco-friendly and bio-degradable transparent packaging solutions to cope with the consumer preference for environmentally friendly products as well as packaging.
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Key Market Players of Transparent Plastic Packaging Market
How Growing Packaged Foods Industry in the U.S. Will Affect The Transparent Plastic Packaging Market?
The consumer buying preferences on the demand side have shifted more towards ethical packaging and transparency in the US, so to maintain transparency the manufacturers, as well as marketers, are targeting audiences with transparent plastic packaging.
Also, the product inside the packaging is visible and one can see whether the desired product is delivered or not, thus all these factors will boom the transparent plastic packaging market in the USA.
Why The Transparent Plastic Packaging Market Will Have Major Impact From India and China?
The countries of India and China are the largest consumer economies in the world, with the increase in the population along with the surge in expenditure on food & beverages and increased purchasing power making them the largest consumer of transparent plastic packaging.
Also in forecasted years due to rapid manufacturing growth, both countries will be leading in the manufacturing of transparent packaging. Though the global transparent plastic packaging market will grow at staggering rates in India and China.
What Will Be The Effect Of Stringent Laws In France On Transparent Plastic Packaging Market?
France is a country which is having strict laws for plastic usage as well as packaging. To tackle that manufacturers of transparent packaging are coming up with a combination of materials that are environmentally friendly and can be used as an eco-friendly version of plastic for the packaging.
Also, for the consumers which are demanding bio-degradable materials used for the packaging, the recyclable types of transparent plastic packaging materials will boost the market in France over the forecasted period.
How Covid-19 Pandemic Affected the Global Transparent Plastic Packaging Market?
The coronavirus pandemic brought a sense of fear in the minds of consumers globally, all the people before buying any product or offering were concerned about the safety of the same. The transparent plastic packaging manufacturers got a boost in demand as the food & beverage, as well as the pharmaceutical sector, saw a significant rise during the pandemic period.
Also, other end-users such as personal & household care are set to witness a surge in demand over the coming years.
Global Transparent Plastic Packaging Market Segmentation
