Growth Opportunities for Global Plastics in Consumer Goods & Household Applications

Growth Opportunities for Global Plastics in Consumer Goods & Household Applications

Product Developments in Plastics Made with More Recycled Content Support Sustainability Trends

This study presents an assessment of the global market for plastics in consumer goods and household products. Analysis covers the demand for plastics in consumer goods by end-use application, including housewares, furniture, footwear, and toys and sports equipment; and by plastic type, including commodity plastics, engineering plastics, thermoplastic elastomers (TPEs), polyurethanes (PU), silicones, and styrene-butadiene latex.

Frost & Sullivan assesses the current size of plastics in the consumer goods and household applications market by factors such as end-use sector growth; substitution potential and customer preference; and political, regulatory, environmental, and raw material trends. These factors are classified under drivers and restraints and inform the forecast analysis. Regionally, Asia-Pacific is the market leader due to its dominant share in global consumer goods output.

Rapid urbanization, increasing discretionary spending, and the eCommerce boom are the main drivers of demand for consumer goods. In addition, an ever-increasing focus on ensuring sustainability across the value chain is likely to cause a dynamic change for the industry, especially in the raw materials and customer preferences areas. In particular, stringent regulations and policies coupled with increasing responsibility to protect the environment have prompted industry participants to channel efforts toward adopting greener alternatives to plastic. Increasing preference to adopt eco-friendly alternatives, including bio-based offerings composed of recyclates, will play a crucial role in plastic product and application development activities.