Asia Pacific Plastic Packaging Market

Asia Pacific Plastic Packaging Market Size (2023-2028)

The Asia Pacific Plastic Packaging Market is estimated to rise at a current compound annual growth rate of 4.5% throughout the foreseen period.

Asia Pacific Plastic Packaging Drivers and Restraints:

The Asia Pacific plastic packaging market is driven by expansion in food & beverages and healthcare businesses. The change in customers lifestyles with fast urbanization has boosted the demand for such packaging. The customers' demand for convenience, processed, and packaged foods that decrease the cooking time led to rising employment of plastic packaging in the food & beverage business. Moreover, the rising health risks and increasing health and fitness awareness have further boosted the market for plastic packaging in this area.

The call for plastic packaging continues to rise even though major concerns are being raised about its effect on the environment. Nevertheless, the market will face challenges from government rules and customer demand, pushing makers to look for flexible packaging solutions, which are biodegradable or derived from sustainable sources. Plastic packaging solutions are employed across different businesses like manufacturing, retail, and healthcare. It has gained significant traction in the healthcare business owing to its high barrier properties, long shelf-life, and durability. The call for plastic packaging solutions will continue to rise throughout the foreseen period. 

Asia Pacific Plastic Packaging Market Segmentation:

By Type: 

• Rigid plastic packaging

• Flexible plastic packaging

By Product:

• Bags

• Cans

• Bottles

• Pouches

• Others 

By End-User:

• Food and beverage

• Healthcare

• Pharmaceutical

• Retail

• Personal and home care

• Others

Asia Pacific Plastic Packaging Regional Analysis:

 The Asia-Pacific region is the quickest-rising market in the world, with the bulk of the expansion coming from growing countries such as China and India. APAC dominates the global plastic packaging market with its quickly expanding market globally. Over 35% of total volume consumption in 2019 was from the APAC region. The region is estimated to witness some fast development in healthcare and food & beverage businesses along with escalated investment in the same. China's plastic packaging market is the major contributor to the APAC business, followed by the Indian plastic packaging market.

Asia Pacific Plastic Packaging Market By Country:

• India

• China

• Japan

• South Korea

• Australia

• Philippines

• Indonesia

• Singapore

Asia Pacific Plastic Packaging Key Players:

The major players in the market are

1. Mondi Group

2. Berry Plastics Corporation

3. Sonoco Products Company

4. Amcor Limited

5. DS Smith plc

6. Bemis Company, Inc

7. NatureWorks LLC

8. Consolidated Container Company

9. Reynolds Group Holdings Limited

10. Alpla Werke Alwin Lehner GmbH & Co. KG