Market Size of Spain Rigid Plastic Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 2.46 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Spain Rigid Plastic Packaging Market Analysis
The Spain Rigid Plastic Packaging Market size in terms of production volume is expected to grow from 1.85 Million tonnes in 2024 to 2.08 Million tonnes by 2029, at a CAGR of 2.46% during the forecast period (2024-2029).
Rigid plastic packaging is ushering in a new era in the Spanish packaging industry, serving as the cornerstone for numerous sectors' product packaging. Plastic stands out as a leading packaging material, with its lightweight and cost-effective attributes making it an immediate favorite among end users.
- Rigid plastic is used to pack various products. Its strong, lightweight, convenient, and economical nature makes rigid plastics an apt choice for perishables, driving their continued usage. Factors contributing to the growth of the packaging industry in the region include the increasing demand for convenient packages, exceptional presentation, and a strong visual impact.
- Governments influence behavior toward sustainability through taxes and regulations. Businesses must stay informed about the changing tax and regulatory environment, and many have voluntarily committed to using more recycled materials in their packaging. It is crucial to think strategically about plastic packaging. Starting 1 January 2021, all EU member states must contribute to the EU budget based on the quantity of non-recycled plastic packaging waste. Spain implemented a PPT effective from 1 January 2023, charging EUR 0.45 per kilogram of non-recycled plastic packaging.
- Furthermore, the packaging industry's increased attention to manufacturing recycled plastic packaging and expanding consumer awareness are aiding the demand for recycled plastic packaging in the Spanish packaging sector.
- The Spanish government, for example, has enacted a measure to discourage the manufacturing and use of single-use plastics, which includes levies on their production and disposal and a timeline for phasing out their usage in the food and beverage industry. By 2030, caps and lids for polyethene terephthalate (PET) receptacles must contain 25% recycled material, increasing to 30% by 2050.
- The robust growth of the e-commerce sector is also expected to open new opportunities for industry expansion. To reduce transportation costs, e-commerce companies prefer lightweight packaging solutions. The increasing popularity of online shopping for daily fresh foods and FMCG products is expected to drive industry growth.
