US Plastic Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Plastic Packaging Market Analysis
United States Plastic Packaging Market is expected to grow at a CAGR of 3.2% during the forecast period 2021 to 2026. The packaging was considered an essential service. Currently, in the United States, the FDA has said the COVID virus is not transmitted via packaging. However, some reports have indicated virus viability on packaging materials for one to three days. Thus, beverage, food, healthcare, and other end-user industries have been considered under essential services in the region. The respective end user witnessed significant demand for products such as bottled water, hand sanitizer bottle, household cleaning, etc., detergent, among others. According to convenience store news 2020 survey report, purchasing behavior of consumers at convenience stores due to the pandemic for the product such as bottled water(single), bottled water(multipack), milk accounted for 49%, 38%, and 46%, respectively.
- Bottled water is the most consumed beverage in the United States, according to the International Bottled Water Association (by volume). According to the International Bottled Water Association (IBWA) report, in the United States, the average sales of bottled water amount to USD 18.5 billion, with a rise of 8.8%. The per capita use exceeds 42 gallons of bottled water, with a rise of 6.2%. With this upward trend set to continue, the need for PET in bottled water packaging is expected to rise.
- Owing to the increased emphasis on sustainability, companies in the region are focusing on improving their single-use plastic packaging recycling rates. For instance, Repurpose Compostable Cold Cups are molded from polylactic acid resin extracted from corn grown in the United States to form clear plastic cups vegetable-based ink on the outside. The cups are offered in 12- and 16-ounce sizes, are BPA-free, and certified by the Biodegradable Products Institute (BPI). The cups can be composted at any BPI-certified commercial recycling center. Such initiatives are going to drive the plastic packaging market.
- The United States consumers are most enthusiastic when it comes to shopping during holidays. As per Adobe Analytics, the US online purchases over the 2020 holidays grew 32.2% from 2019, totaling a record of USD 188.2 billion as shoppers stayed home and shopped on the web during the pandemic, which has gradually led to the increase in the plastic packaging.
- The injection Molding technique is mostly used in the pharmaceutical industry to mass-produce plastic articles, such as syringes, drug inhalation units, bottle caps/closures, etc. Many companies have been investing in developing/expanding their portfolio in injection molding to supply caps and closures to the industry. For instance, Silgan Closures, in 2020, acquired Cobra Plastics, a manufacturer of injection-molded plastic closures to supply a wide variety of caps and closures in various industries.
- Consumers, especially those classified as millennials and Generation Z, have grown increasingly sensitive to the environmental impact of their product choices, leading to the use of paper cups. The popularity of cafés has created a global burst in the consumption of out-of-home (OOH) tea and coffee beverages. According to a study by NC State University in 2020, the United States led globally in the consumption of OOH paper-based coffee cups at 136 million cups per day, followed by China at 27.4 million, Russia at 16.4 million, Germany at 7.2 million, Britain at 7.0 million, and Australia at 2.7 million.
US Plastic Packaging Market Trends
This section covers the major market trends shaping the US Plastic Packaging Market according to our research experts:
Pharmaceutical Industry to Drive the Demand for the Market
- The pharmaceutical market is also dominated by the United States, both in terms of consumption and development. According to STAT, prescription drug spending in the United States is predicted to reach USD 600 billion by 2023, up from an estimated USD 500 billion in 2019, which is expected to drive the growth of the country's pharmaceutical glass packaging market.
- As some of the customers face issues with opening caps and closures by a child or an old-aged person, smart and anti-counterfeiting packaging solutions became the fastest developing requirements, making the technology a perfect fit to further extend the extensive range of closures in the pharma sector.
- Moreover, concerning the environmental issue and enhancing brand appeal, various manufacturers replace outer box products with plastic made from recycled plastic. They are concentrating more on design and high appeal towards their brands. According to American Chemistry Council, 52 new plastics recycling projects have been announced in the United States have been announced between 2017-2020, with the combined value of projects being USD 4.8 Billion. The growing investments in the US advanced recycling technologies are making it probable to reuse more types of plastic than was previously possible.
- The demand for nasal spray bottles is anticipated to increase, owing to the increasing number of patients suffering from sinusitis in the region. According to Medical Devices Business Services Inc., sinusitis affects 35 million people each year in the United States, making it one of the most common health problems in the country. It is more prevalent than heart disease and asthma and has a more significant impact on the quality of life than chronic back pain or congestive heart failure.
- The usage of dropper bottles is predominantly seen with people having eye syndrome. An increasing population with eye syndrome has boosted the demand for dropper bottles in the US. The changing lifestyles of individuals, particularly the extended usage of electronic gadgets, such as computers and TV, have led to an upsurge in the prevalence of dry eye syndrome.
Polyethylene terephthalate (PET) to hold major market share
- To comply with laws and achieve a closed-loop cycle in terms of recycling, market suppliers are working on boosting the recyclability of PET packaging. PET packaging is predicted to rise in the future due to a growing emphasis on recycling these materials.
- For instance, in February 2021, Coca-Cola’s trademark brands, including Coke, Diet Coke, Coke Zero Sugar, and Coca-Cola Flavors, introduced a 13.2-oz. bottle made entirely of 100 % recycled PET (rPET) plastic in California, Florida, and a few Northeast states with other sparkling beverage brands following this summer.
- Adoption of PET can lead to up to 90% weight reduction compared to glass, allowing a more economical transportation process. Currently, plastic bottles made from PET are widely replacing heavy and fragile glass bottles, as they offer reusable packaging for mineral water and other beverages.
- PET creates a strong barrier with the external environment enabling little to no oxygen passthrough. Also, it does not react with water or food, making it suitable for consumable packaging goods. PET can be molded into a variety of shapes at a lower cost than glass, which allows brands to have a distinctive packing design to identify and promote their products and help stand out of the store shelf.
- PET is commonly used in food packaging because of its excellent barrier qualities against water vapor, gases, dilute acids, oils, and alcohols. PET is also shatter-resistant, moderately flexible, and recyclable. According to the organizers of Earth Day, 1 million plastic bottles are purchased every minute in the United States. The average American uses 167 plastic bottles of water per year; as a result of the growing demand for packaged drinking water in the region, plastic caps and enclosures, particularly PET, are in high demand.
US Plastic Packaging Industry Overview
US Plastic Packaging market is moderately fragmented with the presence of players, including Sigma Plastics Group Inc, Amcor PLC, who play a vital role in upscaling the rise in demand, leveraging the declining demand for plastic packaging and customer' preference towards paper-based packaging. These companies are promoting innovation in recycling to capture the market share.
- February 2021: Berry Global Group, Inc. launched a polyethylene terephthalate (PET) spirit bottle specifically designed for e-commerce businesses. The 50ml PET bottle aimed to address the increasing demand of online spirit sales, especially gin.
- February 2021: Constantia Flexibles' announced its new product, Perpetua, which is a recyclable, high-barrier, polymeric mono-material packaging solution for pharma products. According to the company, the solution has a wide range of pharma packaging applications and is now available worldwide. Perpetua offers product protection from oxygen, water vapor, and light.
US Plastic Packaging Market Leaders
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Sigma Plastics Group Inc.
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Amcor PLC
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Berry Global Inc.
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Sealed Air Corporation
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Sonoco Products Company
*Disclaimer: Major Players sorted in no particular order
US Plastic Packaging Market News
- June 2021: BERICAP, one of the world's top producers of plastic closures, has acquired Mala Verschluss-Systeme GmbH, expanding its product line to include aluminum closures. Mala is a Thuringian family business situated in Bad Liebenstein. It earned 40 million euros in yearly revenue in 2020 from the production and sale of aluminum screw cap closures for spirits, wine, and non-alcoholic beverages.
- March 2021: ProAmpac, a prominent player in flexible packaging and material science, announced the acquisition of IG Industries PLC and Brayford Plastics Ltd., two private companies situated in the United Kingdom that manufacture a diverse range of recyclable packaging.
US Plastic Packaging Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 Industry Value Chain Analysis
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
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4.4 Market Drivers
- 4.4.1 Increased Demand for Flexible Plastic Packaging Solutions Across End-user Industries
- 4.4.2 Growth in End-user Industries, such as Food and Beverage and Pharmaceuticals
- 4.4.3 Increasing Demand for Sustainable and Innovative Food Packaging Products
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4.5 Market Restraints
- 4.5.1 Increasing Price Volatility of Raw Materials
5. IMPACT OF COVID-19 ON PLASTIC PACKAGING INDUSTRY IN THE UNITED STATES
6. MARKET SEGMENTATION
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6.1 End-user Industry
- 6.1.1 Food
- 6.1.2 Beverage
- 6.1.3 Pharmaceutical
- 6.1.4 Cosmetics and Personal Care
- 6.1.5 Other End-user Industries
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6.2 Material Type
- 6.2.1 PE (Polyethylene)
- 6.2.2 PP (Polypropylene)
- 6.2.3 PVC (Poly Vinyl Chloride)
- 6.2.4 PET (Polyethylene Terephthalate)
- 6.2.5 Other Material Types
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6.3 Type
- 6.3.1 Rigid Plastic Packaging
- 6.3.2 Flexible Plastic Packaging
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 Sigma Plastics Group Inc
- 7.1.2 Amcor PLC
- 7.1.3 Berry Global Inc
- 7.1.4 Sealed Air Corporation
- 7.1.5 Sonoco Products Company
- 7.1.6 Proampac LLC
- 7.1.7 Constantia Flexibles
- 7.1.8 Alpha Packaging Inc.
- 7.1.9 Centor Inc. (Gerresheimer)
- 7.1.10 Cascades Flexible Packaging
- 7.1.11 Albea SA
- 7.1.12 Silgan Closures
- 7.1.13 Bericap Holdings
- *List Not Exhaustive
8. FUTURE MARKET OUTLOOK
** Subject To AvailablityUS Plastic Packaging Industry Segmentation
Plastics are one of the commonly used packaging materials. Industries in the US, including food, beverage, pharmaceuticals, often prefer plastic packaging owing to factors such as protection against contamination, preservation, and transportation flexibility. The studies under consideration deal with market trends, growth, and estimated numbers of the market segmented by material type, plastics type, and end-users.
| End-user Industry | Food |
| Beverage | |
| Pharmaceutical | |
| Cosmetics and Personal Care | |
| Other End-user Industries | |
| Material Type | PE (Polyethylene) |
| PP (Polypropylene) | |
| PVC (Poly Vinyl Chloride) | |
| PET (Polyethylene Terephthalate) | |
| Other Material Types | |
| Type | Rigid Plastic Packaging |
| Flexible Plastic Packaging |
US Plastic Packaging Market Research FAQs
What is the current US Plastic Packaging Market size?
The US Plastic Packaging Market is projected to register a CAGR of 3.20% during the forecast period (2024-2029)
Who are the key players in US Plastic Packaging Market?
Sigma Plastics Group Inc. , Amcor PLC, Berry Global Inc., Sealed Air Corporation and Sonoco Products Company are the major companies operating in the US Plastic Packaging Market.
What years does this US Plastic Packaging Market cover?
The report covers the US Plastic Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the US Plastic Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
US Plastic Packaging Industry Report
Statistics for the 2024 US Plastic Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. US Plastic Packaging analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
