SINGLE USE PACKAGING MARKET ANALYSIS

In today's world, single use packaging is all around us. From the aisles of the grocery store to the essentials in the office, everything is wrapped in a single-use plastic container. Whether it's in the form of a straw, coffee mug, or paper cup, single-use packaging is everywhere.

Market Statistics:

The global single use packaging market was valued at US$ 36.76 Mn in 2021 and is forecast to reach a value of US$ 56.45 Mn by 2030 at a CAGR of 5.74% between 2022 and 2030.

Asia-Pacific held dominant position in the global single use packaging market in 2021, accounting for 46% share in terms of volume, followed by Europe and North America, respectively.

Figure 1. Global Single Use Packaging Market Value Share (%), By Region, 2021

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Recent Developments:

1. In March 2022, Ardagh Group partnered with Constellation Brands Inc. to design and manufacture a highly decorated wine bottle for its Crafters Union brand. The 360-degree decorated 750ml Claret wine bottle, manufactured by Ardagh Group, provides great shelf appeal in a premium, sustainable glass bottle.
2. In August 2022, Ardagh Metal Packaging (AMP) and Gores Holdings V announced the completion of business which was a special purpose acquisition. The combined company is named Ardagh Metal Packaging SA. The company’s acquisition creates strong growth opportunities for business in aluminum cans across America and Europe. As a result of the Business Combination, AMP received nearly USD 1.0 billion gross proceeds. Ardagh Group will retain a stake of nearly 82% in AMP and intends to remain a committed long-term majority owner of the business.
3. In January 2022, Amcor launched a novel platform of paper-based packaging   products, AmFiber. AmFiber innovations aim to redefine the competencies of traditional paper  packaging,  delivering  a  wider range  of  features  and  functional advantages  to  meet  the  changing requirements of consumers.

Market Drivers:

Miniaturization in packaging for lower material consumption and reducing costs regarding transportation is primarily fuelling growth of the of the single use packaging market. Also, changing lifestyle of consumers, growing demand for more convenient and portable solutions is again fostering market growth.

Growing demand for single-use plastic from medical industry for producing masks, gloves, and other protective equipment is also projected to propel product demand. Moreover, it is also used to food contaminant-free.

By type of material, global single use packaging market can be segmented into plastic, paper & paper board, glass and others. Among all of these segment plastic type of materials segment held highest market share in 2021.

Figure 2. Global Single Use Packaging Market Value Share (%), By Type of Material, 2021

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Market Restraints:

Strict regulations regarding the usage of single-use packaging materials is expected to hinder the market growth. For instance, in December 2020, the European Commission published the Implementing Regulation (EU) 2020/21511 on harmonized marking specifications on certain single-use plastic products. The marking specifications for four product groups are established as required by Single-Use Plastic Directive (EU) 2019/9042.

The outbreak of Covid-19 pandemic has delayed the production and operation worldwide. This has negatively impacted the market growth to some extent.

Market Opportunities:

Rapid growth in food &beverage industry is propelling high demand for single-use packaging. This is projected to bring lucrative growth opportunities over the forecast period. Moreover, various industries have started using single use packaging to avoid cross-contamination and infection in products.

Rapid urbanization and busy lifestyle of consumers are further creating demand for single use packaging. Additionally, advantages such as strength, transparency, flexibility, easy availability and low cost are advantages augmenting market growth.

Market Trends/Key Takeaways:

The small trend pack is appealing health conscious consumers. Growing demand for ready-to-eat food with convenient packaging. Incresing popularity of small and flexible snack packaging is propelling market growth.

Growing e-commerce industry across emerging countries such as India and China is again anticipated to augment the market growth. Increasing online sale of home care, personal care, cosmetics, and households products is again projected to boost the market growth.

Competitive Landscape:

Ardagh Group SA, Amcor PLC, Winpak Limited, Dart Container Corporation, Snapsil Corporation, and Transcontinental Inc.