The Global Single Use Plastic Packaging Market size is estimated at USD 23.47 billion in 2024, and is expected to reach USD 28.16 billion by 2029, growing at a CAGR of 3.71% during the forecast period (2024-2029).
The COVID-19 pandemic provided significant relief to the single-use packaging vendors. Although many countries were slowly banning such packaging and promoting reusable packaging, the outbreak changed the consumers' and governments' behavior toward them.
Due to the COVID-19 outbreak, the demand for nutritional drinks and healthy food increased exponentially. The majority of these products are packaged with single-use plastic. The orders were so huge on a global level that the manufacturers and packaging companies in the field even expanded their facilities, which was also supported by most of the governments.
The Global Single-Use Plastic Packaging Market is Highly Consolidated . The competitive rivalry amongst the players in the single-use packaging market is high owing to the presence of some key players such as Dart Container Corporation, Georgia-Pacific LLC, Graphic Packaging International, Inc., etc. Through strategic partnerships, mergers, and acquisitions, these players have been able to gain a stronger footprint in the market.
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