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Single-Use Packaging Market Trends, Size, Outlook Report 2033
Single-Use Packaging Market
The Business Research Company presents an extensive market research report on the Single-Use Packaging Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The single-use packaging market size has grown strongly in recent years. It will grow from $30.87 billion in 2023 to $33.34 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to convenience and on-the-go lifestyles, reduction of environmental impact, food safety and preservation, growth in the food and beverage industry, shift in consumer preferences, regulations and industry standards, expansion of e-commerce and delivery services..
The single-use packaging market size is expected to see strong growth in the next few years. It will grow to $45.65 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to sustainable and eco-friendly single-use packaging, increased demand for single-serve products, e-commerce packaging solutions, enhanced food traceability and safety, customization and personalization of packaging, aging population and convenience packaging.. Major trends in the forecast period include smart packaging with rfid and qr code technology, anti-counterfeiting features in single-use packaging, edible and dissolvable packaging materials, personalized nutritional and portion-controlled packaging, blockchain for transparent supply chain tracking, augmented reality packaging for interactive experiences..
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Key Market Players:
Ardagh Group S.A., Chevron Corporation, SNAPSIL Corporation, Transcontinental Inc., Sealed Air Corporation, Amcor plc., Dart Container Corporation, Zipz Inc., Tetra Pak International S.A., Winpak Ltd., Mondi Group, WestRock Company, Sustainable Packaging Industries, Noissue.co, Gualapack S.p.A., ExxonMobil Corporation, China Petroleum & Chemical Corporation (Sinopec), Dow Inc., Indorama Ventures Public Company Limited, Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries N.V., Koninklijke Philips N.V., Kuwait Petroleum Corporation, China National Petroleum Corporation (CNPC), Valero Energy Corporation, Saudi Arabian Oil Company (Saudi Aramco), PetroChina Company Limited are prominent players in the industry.
Market Drivers:
The increasing number of food retail chains, restaurants, and hotels is expected to propel the growth of the single-use packaging market going forward. Food retail chains refer to networks of interconnected stores offering diverse food products, while restaurants and hotels provide prepared meals, beverages, and accommodations with varying on-site dining options for consumers. Single-use packaging plays a critical role in preserving food freshness and ensuring the safe delivery of meals for takeout and delivery orders. For instance, in August 2023, according to the US Bureau of Labor Statistics, a US-based federal fact-finding agency, the number of establishments in food services and drinking places in private industry for the 4th quarter of 2022 was 694,267, an increase of 4.28% compared to 665736 during the same period in 2021. Therefore, the increasing number of food retail chains, restaurants, and hotels will drive the single-use packaging market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/single-use-packaging-global-market-report
Market Segments Include:
1) By Product: Rigid Packaging, Flexible Packaging
2) By Material Type: Paper and Paper Board, Plastic, Glass, Other Material Types
3) By End-User Industry: Food, Beverage, Personal Care, Pharmaceutical, Other End-user Industries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
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