US Plastic Packaging Market Outlook

The u.s. plastic packaging market is expected to experience a steady growth over the coming years. the market is estimated to account for a share of $781.26 billion in 2018 and is forecasted to reach a value of approximately $1,467.8 billion by 2032 at a cagr of 6.2%. driving this projected growth is an increasing demand for convenience from consumers and the growing demand for products packaged in plastic. increased consumption of food products such as bread, snacks and beverages across the u.s. also supports the growth of the plastic packaging industry. the popularity of plastic as a material for packaging has been driven by the convenience and cost of production, as well as its environmental sustainability. consumers are increasingly aware of the environmental impact of packaging materials and this is creating further demand for plastic products. furthermore, technological advances in the plastic packaging market are allowing for better quality, longer-lasting and innovative products, which further drives up the demand for plastic packing materials. the growth of the u.s. plastic packaging market is being supported by the steady growth of the consumer packaged goods (cpg) industry. demand from the cpg industry is pushing up the demand for plastic packaging materials, as cpg manufactures are increasingly turning to plastic packaging materials for their products. the manufacturing of petrochemicals, foil and film products, and industrial and commercial products is expected to contribute significantly to the plastic market growth over the forecast period. overall, the u.s. plastic packaging market is expected to experience positive growth over the coming years due to a combination of various factors. the growing demand for convenience, and awareness of environmental sustainability are the primary drivers of the market’s projected growth. technological advancements in the production and packaging of products, as well as increased demand from the cpg industry, are further contributing to this growth.