Market Size of Australia And New Zealand Rigid Plastic Packaging Industry
| Study Period | 2022 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2022 - 2022 |
| CAGR (2024 - 2029) | 2.74 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Australia and New Zealand Rigid Plastic Packaging Market Analysis
The Australia And New Zealand Rigid Plastic Packaging Market size in terms of shipment volume is expected to grow from 1.01 Million metric tons in 2024 to 1.15 Million metric tons by 2029, at a CAGR of 2.74% during the forecast period (2024-2029).
- Data from the US Department of Agriculture (USDA) ranks Australia as the world's 14th-largest economy. In Australia, the food, beverage, and grocery sectors account for a third of all business activity in the manufacturing landscape, thereby propelling the country's rigid plastic packaging industry. The market in the region is buoyed by a surge in domestic demand for healthy food products and a rise in exports of various food items.
- Meanwhile, New Zealand's grocery and food retail sector is witnessing growth, driven by changing consumer food preferences. The food, beverage, and grocery manufacturing sector constitutes nearly a third of New Zealand’s overall manufacturing landscape. Notably, New Zealand's imports from the United States, including packaged food, pet food, grapes, pork, cheese, beer, and wine, play a pivotal role in bolstering the demand for rigid plastic packaging solutions, including trays and containers.
- Regional manufacturers, including Primo Plastics and Forward Plastics Ltd, offer diverse rigid plastic packaging solutions. Their product lineup encompasses bottles, jars, trays, caps, and closures, catering to various end-use industries such as food, beverage, pharmaceuticals, cosmetics, and personal care. These manufacturers emphasize new product development to meet the evolving demands of the market.
- Despite this growth, Australia and New Zealand grapple with a pressing challenge: the rising consumption of plastics, which leads to significant packaging waste. The Australia Institute warns that by 2050, Australia's plastic consumption could more than double, resulting in increased landfill waste, a trend that could stifle market growth in the coming years.
