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The global converted plastic packaging market is expected to grow from USD 150.32 billion in 2022 to USD 280.58 billion by 2032, at a CAGR of 6.44% from 2023-2032. The rising demand for packaged food and beverages will augment the growth of the global converted plastic packaging market.
Packaging is critical as it ensures that the quality and integrity of the content inside it are retained for an extended period. It also enables easy storage and transportation of goods. Packaging allows the producers to print necessary information about the contents of the products or the instruction to handle them on the outside. It also enables the producers to promote their brands. A significant amount of capital, time and effort goes into designing, developing and manufacturing the packaging a market player wants. The shapes, sizes, colours, prints, and printed content materials are all discussed at length, given their essential nature. There are broadly two categories of packaging – rigid packaging and flexible packaging. Flexible packaging is also to referred to as converted plastic packaging. It is a flexible material manufactured from several disposed raw materials like adhesives, paper and plastics. They are available in paper, plastic or metal (aluminium foil) forms. The materials are resistant to microbes and prevent the entry of moisture, air or other undesirable materials, making them a highly efficient packaging solution. They are economical, given their flexibility while customising packaging for different products. They are available as pouches, bags, and tubes. They are used in several end-user industries, such as food and beverage, personal care, and pharmaceutical industries. Converted plastic packaging facilitates easy storage, longer shelf life, is easy to open/close or handle and is convenient for transport.
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December 2022 – By chemically recycling "ocean-bound" plastic refuse (OBP), SABIC and Scientex are producing flexible packaging for a Malaysian noodles brand. OBP is used as a feedstock in the production of polypropylene. The OBP will be transformed into pyrolysis oil. Then, using this as a substitute feedstock, SABIC will make polypropylene, which will then be converted into a BOPP film so Scientex can produce and print the noodle packs. SABIC's propylene, a component of the company's TRUCIRCLE portfolio, is claimed to have a mass balance-accounted 30% of OBP but still operates to the same standard as a virgin, fossil-based polypropylene polymer. It is said to be compatible with the current packing for the noodles without requiring changes to resources and operations.
The thriving food and beverage industry – The growing world population will increase the consumption demand, which will aid in the rising demand for food and beverages. The food and beverage industry will also benefit from the rising disposable income of the population, which increases their purchasing power parity. Rapid urbanisation has increased the number of foot outlets, supermarkets and eateries globally, catering to the affluent population of the suburbs. The lifestyle changes have contributed to the rising trend of eating out, take-out and home delivery of foods. The trend of on-the-go snacking, given the busy lifestyle of the population, has increased the demand for packaged goods. The growing presence of producers offering new products enables consumers to choose from a wide variety, propelling the market's consumption demand. Most food and beverage products must be stored, preserved and transported properly with suitable packaging to retain the quality delivered by the converted plastic packaging. Therefore, the growing food and beverages industry, given the rising population, increasing disposable income, lifestyle changes and expansion of production base, will drive the global converted plastic packaging market's growth.
Converted plastic packaging is more prone to damage than rigid packaging – Rigid packaging, as the name suggests, is much stronger, harder and inflexible than converted plastic packaging. It cannot be easily modified once it assumes a specific structure. Flexible packaging is typically made of plastic, foil, film, and paper. In contrast, rigid packaging is made of thicker materials which makes them withstand external pressure much better than flexible packaging. Rigid packaging protects the contents despite conditioning them to external pressure through sharp objects or environmental factors of heat and temperature, making them resilient for storage and transportation. It offers them a longer shelf life. Therefore, several manufacturers in the consumer goods space prefer rigid packaging over converted plastic packaging, which could hamper the market's growth.
The E-commerce industry’s growth – The telecom boom worldwide combined with the growing infrastructural capacity to lay out optic fibre connectivity for better internet services has contributed to the rise in the e-commerce sector. The presence of significant phone manufacturers in the market has reduced production costs, making them affordable and accessible to consumers. The reduction in retail price and increasing disposable income of the consumers has increased the ownership of the smart connected device. The government's positive push to develop the telecom sector and offer last-mile cellular connectivity has augmented the e-commerce market's growth. The covid-19 pandemic-induced lockdowns facilitated the growth of the e-commerce industry with the rise in online sales given the no-contact, home delivery and convenient shopping options. The growing e-commerce industry contributed to the rising demand for packaging. Converted plastic packaging is economical, sustainable and flexible, spurring its popularity in the industry. Therefore, the e-commerce industry's growth will offer lucrative opportunities in the global converted plastic packaging market in the forecast period.
The concerns over the environmental impacts of converted plastic packaging waste – The underlying materials of converted plastic packaging make it difficult for recycling machines to sort them. The lack of sorting prevents the materials from getting recycled, and they end up in waste disposal or landfills. Given the rising concerns about the growing menace of landfills on the soil, air, water, and animal and human health, converted plastic packaging will face challenges in the climate-conscious contemporary world. Therefore, the concerns over the non-recyclable nature of converted plastic packaging will challenge the market's growth in the forecast period.
The regions analysed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific emerged as the largest global converted plastic packaging market, with a 47% market revenue share in 2022. The growth of the region’s consumer market, given the significant proportion of the global population residing in India and China, will drive the development of the plastic packaging market. The increasing disposable income of the population has driven the popularity of packaged goods in recent years, which will bode well for the market's growth. Furthermore, the market is home to significant manufacturing and pharmaceutical producers, which drive the demand for converted plastic packaging. E-commerce is growing, given the increasing ownership of converted smart devices, seamless internet connectivity, multiple online retailers and positive government policies encouraging the digital economy. This will augment the market's development well.
Asia Pacific region Converted Plastic Packaging Market Share in 2022 - 47%
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The material type segment is divided into plastic film, aluminium foil, paper, bioplastics, and others. The aluminium foil segment dominated the market with a market share of around 35% in 2022. Aluminium foil is widely used in food and pharmaceutical packaging. It is primarily used in liquid products like dairy goods, drinks and beverages. The ability of aluminium to act as a barrier to light, atmospheric gases and moisture makes it ideal for packaging food products without refrigeration. The material is also resistant to microbes and prevents rancidity and undesirable odours. Additionally, the aluminium foil is microwave safe and ideal for packaging ready-to-eat meals. Aluminium is highly malleable and ductile, which aids in customisable packaging, thereby widening the scope of application. The products stay fresh; the foil increases the shelf life of foods and beverages as well. These products can be recycled, making them a sustainable packaging choice. The light yet strong nature of the material also contributes to its dominance in the market.
The product type is divided into pouches, wicketed bags, sachets, tubes, gusseted bags, wraps and others. The pouches segment dominated the market with a market share of around 37% in 2022. Pouches are flexible packaging which is used in solid food as well as liquid packaging. It is ideal for fluid packaging, given the flexible structure of the pouches that can be customized to accommodate the product. Pouches can be attached caps or squeezing mechanisms, enabling ease of use in the food and beverage or other industrial sectors. Their flexibility enables the production of pouches in different materials, sizes, heights, colours, shapes etc. Furthermore, and it is efficient and economical for the producers given the near-zero wastage of products while filling pouches. The pouch packaging is lighter and uses less raw material, translating into less space while storage, shipping and distribution, thereby reducing logistical costs in the long run. The several benefits of the pouch packaging type aid in its dominance in the market.
The application is divided into food and beverage, retail, cosmetics, industrial, pharmaceuticals, toiletries, institutional, and others. The food and beverage segment dominated the market with a market share of around 33% in 2022. In the food and beverage industry, the production, storage, packaging, distribution and consumption of packaged food products, snacks, drinks etc., the growing population with a rising disposable income is driving the demand for packaged food products and beverages, which will facilitate the growth of converted plastic packaging. The rising demand for take-out foods or ready-to-eat meals in developed nations and the increasing presence of food chains that offer these products will also augment the market's growth. Rapid urbanisation has also contributed to the rising dominance in the market.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 150.32 Billion |
| Market size value in 2032 | USD 280.58 Billion |
| CAGR (2023 to 2032) | 6.44% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Regional Segments | The regions examined for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. |
| Segments | The research segment is based on the material type, product type and application. |
As per The Brainy Insights, the size of the global converted plastic packaging market was valued at USD 150.32 billion in 2022 to USD 280.58 billion by 2032.
Global converted plastic packaging market is growing at a CAGR of 6.44% during the forecast period 2023-2032.
The market's growth will be influenced by the thriving food and beverage industry.
Converted plastic packaging is more prone to damage than rigid packaging and that could hamper the market growth.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Material Type
4.3.2. Market Attractiveness Analysis by Product Type
4.3.3. Market Attractiveness Analysis by Application
4.3.4. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. The thriving food and beverage industry
5.3. Restraints
5.3.1. Converted plastic packaging is more prone to damage than rigid packaging
5.4. Opportunities
5.4.1. The E-commerce industry’s growth
5.5. Challenges
5.5.1. The concerns over the environmental impacts of converted plastic packaging waste
6. Global Converted Plastic Packaging Market Analysis and Forecast, By Material Type
6.1. Segment Overview
6.2. Plastic Film
6.3. Aluminium Foil
6.4. Paper
6.5. Bioplastics
6.6. Others
7. Global Converted Plastic Packaging Market Analysis and Forecast, By Product Type
7.1. Segment Overview
7.2. Pouches
7.3. Wicketed Bags
7.4. Sachets
7.5. Tubes
7.6. Gusseted Bags
7.7. Wraps
7.8. Others
8. Global Converted Plastic Packaging Market Analysis and Forecast, By Application
8.1. Segment Overview
8.2. Food and Beverage
8.3. Retail
8.4. Cosmetics
8.5. Industrial
8.6. Pharmaceuticals
8.7. Toiletries
8.8. Institutional
8.9. Others
9. Global Converted Plastic Packaging Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Converted Plastic Packaging Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in the Converted Plastic Packaging Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Product Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. Amcor PLC
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Product Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. Berry Global
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Product Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. Constantia Flexibles Group GmbH
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Product Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. DS Smith
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Product Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. Honeywell International Inc.
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Product Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. Mondi PLC
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Product Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. ProAmpac
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Product Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. Sealed Air Corporation
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Product Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. Sonoco Products Company
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Product Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. Oracle Packaging Incorporation
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Product Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
List of Table
1. Global Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
2. Global Plastic Film Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
3. Global Aluminium Foil Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
4. Global Paper Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
5. Global Bioplastics Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
6. Global Others Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
7. Global Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
8. Global Pouches Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
9. Global Wicketed Bags Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
10. Global Sachets Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
11. Global Tubes Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
12. Global Gusseted Bags Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
13. Global Wraps Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
14. Global Others Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
15. Global Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
16. Global Food and Beverage Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
17. Global Retail Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
18. Global Cosmetics Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
19. Global Industrial Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
20. Global Pharmaceuticals Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
21. Global Toiletries Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
22. Global Institutional Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
23. Global Others Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
24. Global Converted Plastic Packaging Market, By Region, 2019-2032 (USD Billion)
25. North America Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
26. North America Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
27. North America Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
28. U.S. Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
29. U.S. Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
30. U.S. Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
31. Canada Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
32. Canada Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
33. Canada Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
34. Mexico Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
35. Mexico Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
36. Mexico Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
37. Europe Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
38. Europe Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
39. Europe Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
40. Germany Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
41. Germany Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
42. Germany Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
43. France Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
44. France Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
45. France Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
46. U.K. Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
47. U.K. Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
48. U.K. Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
49. Italy Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
50. Italy Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
51. Italy Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
52. Spain Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
53. Spain Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
54. Spain Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
55. Asia Pacific Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
56. Asia Pacific Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
57. Asia Pacific Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
58. Japan Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
59. Japan Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
60. Japan Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
61. China Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
62. China Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
63. China Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
64. India Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
65. India Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
66. India Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
67. South America Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
68. South America Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
69. South America Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
70. Brazil Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
71. Brazil Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
72. Brazil Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
73. Middle East and Africa Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
74. Middle East and Africa Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
75. Middle East and Africa Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
76. UAE Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
77. UAE Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
78. UAE Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
79. South Africa Converted Plastic Packaging Market, By Material Type, 2019-2032 (USD Billion)
80. South Africa Converted Plastic Packaging Market, By Product Type, 2019-2032 (USD Billion)
81. South Africa Converted Plastic Packaging Market, By Application, 2019-2032 (USD Billion)
List of Figures
1. Global Converted Plastic Packaging Market Segmentation
2. Converted Plastic Packaging Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Converted Plastic Packaging Market Attractiveness Analysis by Material Type
9. Global Converted Plastic Packaging Market Attractiveness Analysis by Product Type
10. Global Converted Plastic Packaging Market Attractiveness Analysis by Application
11. Global Converted Plastic Packaging Market Attractiveness Analysis by Region
12. Global Converted Plastic Packaging Market: Dynamics
13. Global Converted Plastic Packaging Market Share by Material Type (2022 & 2032)
14. Global Converted Plastic Packaging Market Share by Product Type (2022 & 2032)
15. Global Converted Plastic Packaging Market Share by Application (2022 & 2032)
16. Global Converted Plastic Packaging Market Share by Regions (2022 & 2032)
17. Global Converted Plastic Packaging Market Share by Company (2022)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global converted plastic packaging market based on below mentioned segments:
Global Converted Plastic Packaging Market by Material Type:
Global Converted Plastic Packaging Market by Product Type:
Global Converted Plastic Packaging Market by Application:
Global Converted Plastic Packaging Market by Region:
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