Saudi Arabia Plastic Packaging Market Size, Share & Trends Analysis Report By Material (PET, PE, PS, PP, PVC), By Application, And Segment Forecasts, 2023 - 2030

Saudi Arabia Plastic Packaging Market Growth & Trends

The Saudi Arabia plastic packaging market size is expected to reach USD 20.52 billion by 2030, expanding at a CAGR of 6.6% over the forecast period of 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth is driven by the huge product demand from industries such as food & beverages, pharmaceutical/healthcare, industrial packaging, and personal & household. Moreover, the growing trend of e-commerce and the use of food delivery apps drive the market growth for plastic packaging in Saudi Arabia.

With the increasing population and rising disposable income, consumers have witnessed an increase in their spending on consumer goods such as food & beverage, personal care, and others. This has led to the growing need for packaging solutions to preserve and protect these products during their transport and shipment.

The COVID-19 pandemic led to an increase in the supply and consumption of hygienic and medical products, as consumers became more health- and hygiene-conscious. This gave rise to the demand for the plastic packaging of pharmaceutical products such as disinfectants and other cleaning products. The food & beverage industry witnessed meteoric growth owing to the use of food delivery apps, thus necessitating the use of secure plastic packaging to avoid leakages and spills during delivery.

Industry players are adopting several strategies, including collaborations, expansions, mergers & acquisitions, partnership agreements, and research & development activities, to increase their individual market share and customer base. For instance, in April 2023, Hotpack Packaging Industries LLC, a packaging solutions provider, announced the launch of its food packaging plant in Saudi Arabia. This new plant launch is expected to help the company strengthen its leadership position in the Saudi Arabian market.

Saudi Arabia Plastic Packaging Market Report Highlights

• The polyethylene terephthalate (PET) material segment recorded the highest market share in the year 2022, owing to its wide application in the food & beverage industry in the form of PET bottles and containers
• Saudi Arabia has already placed a ban on non-dissolvable plastic products since October 2017. This ban is imposed on 16 plastic products, including shopping bags and electronics packaging produced from polyethylene and polypropylene that have a thickness of less than 250 microns. Such stringent government policies act as a restraining factor for the plastic packaging market growth in Saudi Arabia
• The polypropylene (PP) segment is expected to expand at the fastest CAGR over the forecast period. The material is widely used in the packaging of soft drinks in the form of bottle closures and caps. Moreover, it is used in the pharmaceutical/healthcare sector in the packaging of syringes and other medical products, due to its ability to resist external environmental factors such as heat and light
• The food & beverages sector dominated the application segment in 2022, which can be attributed to the increased disposable income of consumers, and online food and grocery delivery apps requiring secure plastic packaging solutions
• The industrial packaging segment is expected to expand at a substantial CAGR during the forecast period due to the wide application of plastic drums, crates, pallets, and other items to transport and store industrial products such as chemicals, oil & gas, and others
• The personal care & household sector has witnessed significant growth in recent years, due to the increasing awareness and preference for halal cosmetic products made from natural & safe ingredients that do not harm the skin. An increased emphasis on appearance among consumers drives the demand for this segment
• The plastic packaging market in Saudi Arabia has been witnessing several strategic developments. For instance, in February 2022, Sealed Air announced the acquisition of Foxpak Flexibles Ltd., a packaging solutions provider. With this acquisition, Sealed Air is expected to deliver digital printed packaging solutions such as pouches, bags, and other products for various application industries to cater to the Saudi Arabian market

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