Global Plastic Packaging Industry Outlook - 2022

Demand for Plastic Packaging Solutions Expected to Register a CAGR of 5.1% till 2022

The global packaging industry is bifurcated on the basis of primary material types which are paper, plastic (rigid and flexible), metal and glass packaging. The global packaging industry has witnessed rapid growth with the industrialization and the boom in consumerism in the global economy and has undertaken large scale production growth and research efforts during the last three decades. Plastic packaging plays a key role in ensuring consumer products cost effectively transition through the value chain towards the end consumers with an enhanced product safety and appeal. We foresee strong drivers that are realigning the packaging industry demand towards plastic packaging solutions which revolve around the light weighting of products, cost efficiency, product safety and usage convenience.

Incremental demand for plastic packaging from emerging economies and a large stable demand base in developed economies is driving the outlook for the plastic packaging industry globally. On the back of these drivers, demand for plastic packaging solutions is expected to register a CAGR of 5.1% till 2022 which should drive the plastic packaging industry size towards a level of $370.0 Billion. Global industry margins are expected to remain stable on the back of supply side factors which are reducing the scope for additional capacity allocation to fulfill the expected demand growth for plastic packaging globally.