Global plastic packaging market size 2023-2034
The global plastic packaging market is poised for significant growth, with projections indicating it will reach nearly 637 billion U.S. dollars by 2034. This expansion represents a compound annual growth rate of 4.4 percent from 2025 to 2034, highlighting the continued importance of plastic packaging in various industries worldwide.
Market trends and key players
As the plastic packaging sector expands, industry leaders such as Amcor, Sealed Air, and Berry Global are expected to play crucial roles in shaping the market. The polypropylene (PP) packaging films segment, a key component of the overall market, is forecast to grow from 29 billion U.S. dollars in 2024 to over 52 billion U.S. dollars by 2034. Countries like the United Kingdom, United States, China, and India are anticipated to emerge as leading producers of PP packaging films.
Sustainability efforts and alternatives
Despite the growth in plastic packaging, there is an increasing focus on sustainability within the industry. Major plastic packaging companies are making strides in producing more environmentally friendly packaging options. For instance, Nestlé reported that 63 percent of their plastic packaging weight was reusable, recyclable, or compostable in 2023, while Danone achieved 74 percent in the same year. Additionally, the market for biodegradable plastics is expanding rapidly, with forecasts suggesting it will grow from nearly six billion U.S. dollars in 2023 to over 18 billion U.S. dollars by 2032, demonstrating a growing demand for more sustainable packaging solutions.
