DUBLIN--(BUSINESS WIRE)--The "Single-use Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Single-use Packaging market was valued at USD 34.29 billion in 2020 and is expected to reach USD 47.31 billion by 2026, at a CAGR of 6% over the forecast period 2021 - 2026.
The increasing need for small and more convenient packages, exceptional presentation, and strong visual impact are some of the factors that would contribute to the growth of single-use packaging over the forecast period.
The growing per capita income and the changing social climate and demographics such as increasing urbanization have enabled people to live more modern lifestyles, leaving them always on the move. For instance, the urban population increased from 53.913% in 2015 to 55.271% in 2018 with the GDP per capita also increasing from USD 10,217.656 in 2015 to USD 11,298.304 in 2018.
The increasing adoption of single-use packaging by the supermarkets is expected to boost market growth over the forecast period. According to the Department for Environment, Food and Rural Affairs (DEFRA) Tesco issued the greatest number of Single-use plastic carrier bags in the 2018-2019 financial year that numbered at 121 million while Asda issued 106.89 million Single-use plastic carrier bags.
However, the growing number of regulations restricting the usage of single-use packaging is expected to hinder the market growth.
Key Market Trends
Plastic Segment is Expected to Register a Decline in the Market Share
- The increasing initiatives by the government and the related regulatory bodies to curb the plastic waste disposal into the environment and to reduce its footprint is expected to hinder the single-use plastic packaging market over the forecast period.
- In April 2019, New York imposed a statewide ban on single-use plastic bags and the law is expected to take effect from March 2020. Also, Hawaii proposing a bill that would prohibit the restaurants and government agencies from using plastic items such as bottles, straws, utensils and foam containers, by 2022.
- Industries, such as e-commerce, food & beverage, and logistics, which rely greatly on plastics for packaging would have to look for alternatives to keep their businesses up and running. or instance, during the ten days of the Alibaba's Double 11 shopping festival, Chinese consumers received nearly 1.9 billion packages.
- However, this ban presents an opportunity for plastic manufacturers to develop a biodegradable packaging solution that enables them to support their business activities.
The competitive rivalry amongst the players in the single-use packaging market is high owing to the presence of some key players such as Snapsil Corporation, Zipz Inc., Ardagh Group S.A. amongst others.
Their extensive investments in research and development activities have enabled them to gain a competitive advantage over other players. Through strategic partnerships, mergers & acquisitions these players have been able to gain a stronger footprint in the market.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Market Drivers
4.3.1 Miniaturization of packaging Materials to Boost the Adoption of Single-use packaging
4.4 Market Restraints
4.4.1 Strict Regulations Against the usage of Single-use packaging Materials
4.5 Industrial Value Chain Analysis
5 MARKET SEGMENTATION
5.1 By Materials Type
5.1.1 Paper & Paper Board
5.1.4 Others (Metals, Wood)
5.2 By End-user Industry
5.2.3 Personal Care
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Ardagh Group S.A.
6.1.2 Bemis Company Inc.(AMCOR)
6.1.3 Winpak Limited
6.1.4 Zipz Inc.
6.1.5 Snapsil Corporation
6.1.6 Transcontinental Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/nzeh2n