Indonesia Plastic Packaging Market Outlook

Synopsis
The above chart is Indonesia Plastic Packaging Market Outlook (2018 to 2032)

Market Dynamics

The outlook for the indonesia plastic packaging market over the period 2018-2032 is one of strong growth as the country looks to capitalize on its emerging position as a regional leader in the manufacturing and production of plastic packaging products. indonesia has sizeable petrochemical industry, and polymer production is among the top industries in the country. this can be attributed to the fact that indonesia has an abundant source of molds, fillers, and adhesives for plastic packaging, which is an added advantage for the development and manufacturing of products. in 2018, the indonesian plastic packaging industry was estimated to have a market revenue of us$ 11.45 billion. the industry is projected to grow at a cagr of 6.2% during the 2018-2032 timeline. one of the driving factors of this growth is the increasing demand for packaging materials for the food & beverage industry in indonesia, due to the booming hospitality industry and an expanding population. furthermore, the growing health and hygiene consciousness in the consumer market is creating a higher need for quality, eco-friendly, and food-grade plastic packaging products. the added convenience of using plastic packaging materials such as convenience of transportation and storage also contributes to their increasing popularity across indonesia. the lifestyle modifications than have come out of technological advances add to the number of items that require plastic packaging materials on a regular basis. moreover, the government policies in indonesia have been favourable to the growth of the plastic packaging industry, and are likely to continue to do so in the forecast period as well. in conclusion, the outlook of the indonesia plastic packaging market for 2018 to 2032 is one of strong growth. the presence of a substantial petrochemical industry, coupled with increasing demand and government support will be the main drivers behind this growth. this works in tandem with indonesia’s favourable production and manufacturing environment to create the conditions for sustained growth. the projected cagr of 6.2% supports this expectation.