Plastic Packaging Market Size - By Material, By Product Type, By Technology, By End Use Industry, Forecast, 2025 – 2034

Plastic Packaging Market Size

The global plastic packaging market size was valued at USD 395.7 billion in 2024 and is estimated to grow at 3.8% CAGR from 2025 to 2034. The demand for plastic packaging is increasing significantly owing to growing healthcare and pharmaceuticals industry and the growth of e-commerce sector.
 

The rapid development in the healthcare and pharmaceutical sectors has driven the demand for advanced plastic packaging solution. Also, the growing demand for medicines, medical devices, and biologics, is expected to increase the demand for robust and secure packaging solution further supporting the target market growth.
 

According to Made in Canada Statistics, the size of the pharmaceutical market of Canada in 2023 stood at approximately USD 65.9 billion and expected to grow at a CAGR of 6.88% over the next few years. With the continuous growth of plastic packaging vials and containers used in the pharmaceutical industry, there is an increase in demand for polymers in order to supply high quality containers or different forms of plastic packaging specially designed for pharmaceutical market.
 

The plastic packaging market is being fueled by growth of e-commerce industry. The lightweight, protective, and strong packaging solution is witnessing high demand due to the inclination towards online medicine shopping among consumers. Flexible pouches and protective films are used in plastic packaging due to their benefits such as high protective barrier and better strength which makes them ideal for the fast-growing world of digital retail.
 

Manufacturers can invest in R&D and development of high-performance polymer such as cyclic olefin polymers (COP), cyclic olefin copolymers (COC), and polyethylene terephthalate (PET) with the focus on development of lightweight and high-barrier packaging solution. This will help company to increase the product offering and attract new customers.
 

 Plastic Packaging Market Trends

• One of the key trends witnessed in the plastic packaging industry is the growing emphasis on sustainability, with businesses putting more resources and efforts into sustainable and recyclable materials as a result of market pressure and regulation. Industries are employing recyclable, reusable, and lightweight packaging solutions to minimize carbon footprint as well as cost. For instance, in May 2024, ALPLA launched a low-cost, recyclable PET wine bottle that reduces 50% carbon emission compared to glass bottles. The cost positioning of this new product with conventional glass will most likely attract winemakers interested in maximizing margins while being environmentally friendly, further fortifying the market trend towards sustainable options.
   
• Market investment on sophisticated tracking and tracing technologies is expected to increase in the next few years, which is another trend that is being witnessed in the market. The increasing use of advanced packaging solutions, including QR codes, NFC tags, and augmented reality technology, is allowing brands to engage with consumers more effectively, while also facilitating products to be traced through the supply chain more easily. These technologies make brands more competitive by making supply chains more transparent, limiting counterfeit products, and enhancing customer experiences. Therefore, smart packaging is quickly becoming a business imperative instead of an option for differentiating brands in the marketplace.
   
• Manufacturers can focus on integration of blockchain-enabled track-and-trace systems as this will help them enhance supply chain transparency, brand protection, and consumer engagement. This new integration will help them attract new customers and strengthen their competitive position.
   

 Plastic Packaging Market Analysis

Based on product type, the plastic packaging market is divided into rigid packaging, and flexible packaging.
 

• The rigid packaging market is anticipated to reach USD 314.2 billion by 2034. The shift towards sustainability in the rigid plastic packaging is characterized by the increasing use of recycled content and bio-based materials. Innovations in design and lightweight feature is enhancing durability while also decreasing material consumption. Moreover, brands are also adding smart packaging technologies to improve interaction and engagement with consumers in the food, beverage, and healthcare markets.     
   
• The flexible packaging market is projected to grow at a CAGR of over 4.4% by 2034. Flexible plastic packaging is growing in popularity largely owing to its light weight, low cost, and longer shelf life. The development of high barrier films and mono-material structures are further aiding in making these products easier to recycle. There is also growing investment within many industries for the fabrication of sustainable, compostable, and bio-based flexible packaging to respond to the increasing demand. 
   

On the basis of end-use industry, the plastic packaging market is divided into food & beverages, healthcare, industrial, consumer goods, and others.
 

• The food & beverages segment held a market share of 50.6% in 2024. Recent trends in plastic food and beverage packaging emphasize on safety, freshness as well as sustainability. Companies are capitalizing on high barrier performance materials using advanced polymer science to decrease the plastic footprint associated with product packaging. Also, increasing adoption of refillable and reusable containers and PCR (post-consumer recycled) materials with the focus to meet the compliance with regulatory bodies and consumer driven sustainability targets.
   
• Healthcare market is projected to reach USD 90.8 billion by 2034. The healthcare sector is inclined towards adopting new innovative packaging solutions that meet the stringent requirements for safety and security of the enclosed product. This calls for sterile, lightweight, and anti-tamper materials which is expected to support the growth of target market in healthcare sector.
   

On the basis of material, the plastic packaging market is divided into Polyethylene (PE), Polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC), Polystyrene (PS), bioplastic, and others.
 

• Polyethylene (PE) accounted for 31.9% market share in 2024. Polyethylene (PE) continues to be one of the dominating materials used in food packaging since advancements in resin technology for polyethylene enhances strength, flexibility, and recyclability. To meet sustainability objectives, manufacturers are integrating recycled PE into their packaging solutions. The transition to mono-material PE packaging improves recycling, which is a requirement for more simplified and enabled circular economy strategies. 
   
• The bioplastic market is projected to grow at a CAGR of 10.1% by 2034. Bioplastic packaging alternatives are steadily gaining popularity. Additionally, advancements in PLA, PHA, and bio-PE are enhancing outreach. Increasing governmental regulations and consumer trends toward sustainability are propelling compostable and biodegradable packaging investments across the market.  
   

Based on technology, the plastic packaging market is divided into injection molding, extrusion, blow molding, thermoforming, and others.
 

• The extrusion market projected to reach USD 212.5 billion by 2034. Rapid technological advancements in the production process of plastic packaging with emphasis on efficient extrusion technology is expected to support the market growth. The extrusion method allows manufactures in creating advanced multilayer films products that have better barrier properties.
   
• The thermoforming market held a share of 9.7% market share in 2024. Thermoforming technology is gaining high preference among manufacturers due to its low cost, flexible design capabilities, and ability to produce lightweight yet sturdy packaging product. Manufacturers are actively trying to minimize material waste by focusing on precision forming and lightweighting approaches which is expected to increase the adoption of thermoforming technology further supporting the market growth.
   

North America held a market share of 25.3% in 2024. The plastic packaging market is growing rapidly in North America due to the rise in demand for eco-friendly and high-performance packaging. Recycling technologies and initiatives like circular economy are becoming more popular. Companies are investing on biobased materials and post-consumer recycled (PCR) plastics to satisfy the consumers with their sustainability efforts.  
 

• The U.S. plastic packaging market is projected to reach USD 119.8 billion by 2034. The rapid growth in food and beverage industry is a major driver for plastic packaging market in the United States. In 2023, the United States Department of Agriculture (USDA) estimated that American citizens, corporations, and the government spent USD 2.6 trillion on food and beverages. As a result, there is a need for cheap, lightweight, recyclable plastic materials for packaging.
   

• Canada plastic packaging market is expected to reach a CAGR of 2.4% by 2034. In Canada, increased government regulation and the push for sustainability by consumers is causing a shift towards the adoption of eco-friendly practices. There is increasing focus on mono material flexible packaging, compostable plastics and extended producer responsibility (EPR) programs which drive recyclable innovations in plastic packaging.     
   

Europe held a significant market share of 21.4% in 2024. In the European marketplace, stricter policies against single-use plastics are further propelling the adoption of circular economy principles. There is growth in the investment for chemical recycling, refillable packaging systems, and biobased plastics. Established brands are focusing on packaging solutions that comply with the European Green Deal and EPR. 
 

• Germany plastic packaging market is expected to reach a CAGR of 3.5% by 2034. With the strong consumer demand for recyclable packaging, Germany is spearheading sustainable plastic packaging invention by using the robust regulations in place. Efforts to develop mechanical and chemical recycling are underway, as the country adopts closed-loop approaches aimed at improving material recovery and lowering the amount of plastic waste generated by packaging companies.     
   

• The UK plastic packaging market is expected to reach a CAGR of 3% by 2034. The UK is switching to paper and hybrid packaging as brands abandon plastic packaging. The introduction of the Plastic Packaging Tax resulted in businesses having to use more recycled materials, therefore boosting investments in PCR plastics and lightweight packaging.
   
• France plastic packaging market is expected reach a CAGR of 3.6% by 2034. France is experiencing a rapid increase in the use of biodegradable and compostable plastic packaging due to the country’s anti-waste regulations. The restrictions on the use of some single-use plastic products have motivated packaging companies to find new biobased materials to use, especially for the food and drink industries.
   
• Italy plastic packaging market accounted for 13.1% of the share in 2024. Italy’s packaging industry is tailoring high-end and luxury aesthetic plastic packaging for the premium goods market. There is growing demand for environmentally friendly and high-quality plastic packaging for the cosmetics and personal care industries. The market is also emerging from the introduction of recyclable rigid plastics, bio plastics and other such materials.    
   
• Spain plastic packaging market is projected to grow at a CAGR of 3.7% by 2034. In Spain, the development of smart packaging has increased, plastic packaging with QR codes, NFC, and RFID for traceability and enhanced consumer interaction is becoming more common. There is an increasing adoption of more interactive packaging in the food, drink, and pharmaceutical industries for improved brand representation and accountability.  
   

Asia Pacific is projected to grow at a strong pace at a CAGR of 4.4% by 2034. The fast pace of urbanization coupled with increasing e-commerce activities generates need for innovative plastic packaging solutions in the Asia-Pacific plastic packaging market. The businesses are seeking the region's emerging markets for food, FMCG, and healthcare services by attempting to develop flexible packaging solutions that are cost-effective, light in weight, and high barrier.  
 

• China plastic packaging market accounted for 38.7% of the market share in 2024. China is experiencing a surge towards advanced functional high barrier plastic packaging because of its expanding food and beverage market. The country is a frontrunner in the development of active packaging such as oxygen scavengers and antimicrobial films to secure food in a highly competitive market.    
   
• The plastic packaging market in India is anticipated to grow at a CAGR of 5.1% by 2034. The growing FMCG vertical is driving the need for increased use of plastic packaging in India. As per IBEF reports, the Indian FMCG market registered USD 167 billion in 2023 owing to heightened consumer demand as well as a increase in price of goods. As a result, adoption of flexible plastic packaging in food, personal hygiene products, and cleaning supplies is on the rise.  
   
• Japan plastic packaging market held a share of 15.2% in 2024. Sustainable yet functional precision-engineered plastic packaging is the focus of major companies in Japan. The rise of super-lightweight, refillable, and advanced recyclable packaging is being observed in the cosmetics and healthcare industries as premium branded products are heavily being marketed.
   

Latin America held a share of 6.5% of the plastic packaging market in 2024. Latin America is witnessing increased demand for inexpensive plastic packaging for ultra-processed and packaged foods owing to high inflation. Economically convenient features such as standup pouches and multilayer flexible films that extend the shelf life of products are rapidly replacing traditional rigid packaging.
 

Middle East & Africa is projected to grow at a strong pace with a CAGR of 2.4% by 2034. The pharmaceutical and food industries are currently driving the demand for strong and temperature resistant plastic packaging in the MEA region. New developments are being made in multilayer packaging and high-barrier films to ensure that extreme climate conditions do not compromise product safety and shelf life.
 

 Plastic Packaging Market Share

The plastic packaging industry is highly competitive. The top 5 players in the market are Amcor, Berry Global, Coveris, Sealed Air, and Sonoco Products accounting for a significant share of over 29% in the market.
 

Top companies in the plastic packaging industry are increasing their market shares by prioritizing compliance with sustainability and innovation policies. These companies are focused on producing fully recyclable and biodegradable plastics, advancing the existing recycling methods, and designing lightweight packaging. Furthermore, the companies are expanding into emerging markets through acquisitions and strategic partnerships. Efficiency and consumer interaction have been enhanced with the aid of new digital technologies like smart packaging and AI design optimization tools.
 

The primary companies are focusing on circular economy initiatives as per the regulations issued by the government and the growing demands from consumers for eco-friendly packaging. Several companies are increasing the post-consumer recycled (PCR) content as well as using mono-materials for enhanced recyclability. Capital spent on R&D is developing refilling, compostable, and high-barrier packs. Moreover, companies are using automated and AI-based manufacturing systems to increase productivity while at the same time minimizing waste. This positions them to grow in the changing market over the long term.
 

 Plastic Packaging Market Companies

Some of the prominent market participants operating in the plastic packaging industry industry include:

• Amcor
• Berry Global
• Coveris
• Sealed Air
• Sonoco Products
   

Amcor is focusing on recyclable plastic and bio-based material development in alignment with sustainable strategies. Amcor invests in new material creation and works together with other market players to fortify circular economy initiatives. Amcor also implements lightweight design and high-barrier packaging technology for minimizing environmental effects while maximizing protection of the product.
 

Sonoco products aims to develop innovative processes that make its products more sustainable, with the focus being on higher recycled content and innovative kinds of packaging. Sonoco products is expanding the application of post-consumer resin (PCR), investing in leading-edge recycling centers, and developing effective packaging design. To achieve the new rules, Sonoco products also enhances production with automation and digitalization.
 

Plastic Packaging Industry News:

• In December 2024, Berry Global and VOID Technologies partnered to launch a new high-performance, sustainable film engineered for pet food packaging. The company claims that this innovative polyethylene (PE) film can provide strength, toughness and puncture resistance, all while offering store drop-off recycling programs and eliminating non-recyclable materials.
   
• In November 2024, Constantia Flexibles partnered with Mondelez International to provide better eco-friendly packaging solutions. This partnership seeks to meet the increasing needs in sustainability, in regard to packaging.   
   

The plastic packaging market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue (USD Billion) and volume (Kilo Tons) from 2021 to 2034, for the following segments:

Click here to Buy Section of this Report

Market, By Material

• Polyethylene (PE)
• Polypropylene (PP)
• Polyethylene terephthalate (PET)
• Polyvinyl chloride (PVC)
• Polystyrene (PS)
• Bioplastic
• Others

Market, By Product Type

• Rigid packaging            
  • Bottles & jars
  • Containers
  • Trays & pallets
  • IBC & drums
  • Caps & closures
  • Others
• Flexible packaging      
  • Wraps & films
  • Bags
  • Pouches
  • Others

Market, By Technology           

• Injection molding
• Extrusion
• Blow molding
• Thermoforming
• Others

Market, By End Use Industry

• Food & beverages
• Healthcare
• Industrial
• Consumer goods
• Others

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
• Asia Pacific 
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America 
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa 
  • Saudi Arabia
  • South Africa
  • UAE