Plastic Packaging Projected To Maintain Share of Packaging Space

“In home and personal care, shifting to pouches results in significant reduction [of material per package],” a director of process at a packaging equipment supplier explains in the report. “Food is already in flexible plastic. Big strides have been made.”Global share of plastic-based packaging is expected to increase slightly by 2024.PMMI Business Intelligence, 2022 Future of Packaging and Sustainability

Other Categories Use Plastic Packaging for At Least Half of All Products

The food category shares a similar story with home care, with a projected 72% of food packaging using plastic in 2024 – another 1% increase from 2020.

Beauty and personal care hold the next most significant share of plastic packaging, with a projected 1% increase from 2020 to 2024 up to 65% plastic used.

Less dominated by plastic but still using the material most often are the dog and cat food and beverage categories.  Dog and cat food is projected to use 58% plastic by 2024, while beverages will reach 53%. Both estimates are a 2% increase compared to 2020.

“Progress has been made with PET bottles,” a vice president of packaging and R&I at a consumer packaged goods company says. “We want to move our plastic packaging in that direction and work with governments, other CPGs, and consortiums to push that way and have a loop [supply] for plastic.”Plastic packaging is expected to see a 2.6+ compound annual growth rate from 2020 to 2024.PMMI Business Intelligence, 2022 Future of Packaging and Sustainability

Overall, the report notes a 2% growth in plastic packaging year over year from 2020 to 2021 alone and a 2.6+ CAGR in plastic packaging projected from 2020 to 2024, which it says is bolstered by renewable plastics.

Source: PMMI Business Intelligence, 2022 Future of Packaging and Sustainability

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