Australia Plastic Packaging Market Revenues to Reach USD 3.03 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence
Hyderabad, July 24, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Australia Plastic Packaging Market Report (2023-2028),” the market is estimated at USD 2.72 billion in 2023. It is expected to register a CAGR of 2.14% during the forecast period.Australia observed a substantial increase in population in the previous decade. It is expected to drive the demand for more consumables, such as beverages, packaged meals, packaged drinking water, and convenience packages such as microwave and oven safe. These items prefer plastic packaging medium over other alternatives due to distinguished portability enabled by the lightweight of the plastics.
*Report Summary:*
*Report Attribute* *Details*
Market Size (2023) USD 2.72 billion
Market Size (2028) USD 3.03 billion
CAGR (2023-2028) 2.14%
Study Period 2018-2028
Forecast Units Value (USD billion)
Report Scope Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends
Key Market Drivers Substantial increase in the Australian population in the previous decade.
Australia’s ambitious 2025 national packaging targets.
*Who are the Top Companies in the Australia Plastic Packaging Market?*The market is greatly fragmented. The current competitors are striving to differentiate their offerings based on recycled content in packages and the ease of plastic packaging recyclability.
The noteworthy players in the Australian plastic packaging manufacturers market are:
· Orora Packaging Australia Pty Ltd
· Filton Packaging Pty Ltd
· Flexible Packaging Solutions Pty Ltd
· Gravure Packaging Ltd
· Econopak Flexible Packaging
· Pro-Pac Packaging Pty Ltd
· A&M Packaging Pty Ltd
· Caspak Products Pty Ltd
· Synergy Packaging (RPC Group)
· Visy Industries Australia Pty Ltd
· Pact Group Holdings Australia Pty Ltd
· Cospak Pty Ltd
· Vacupack Pty Ltd
· Plasmo Pty Ltd
*Other Reports That Might Be of Your Interest:*
· PET Packaging Market Report - The PET packaging market size is expected to grow from USD 67.38 billion in 2023 to USD 88.94 billion by 2028 at a CAGR of 5.71% during the forecast period (2023-2028).
· Adherence Packaging Market Report - The adherence packaging market size is expected to grow from USD 971.90 million in 2023 to USD 1.34 billion by 2028 at a CAGR of 6.72% during the forecast period (2023-2028).
*Key Highlights from the **Australia Plastic Packaging Market** Report**:*
* Expanding Demand from the Food Industry*
· Due to lifestyle changes, the primary force driving Australia's plastic packaging market growth is the demand for single-serve and portable food packs. Also, an increase in cross-border e-commerce, investments in improved logistics, and bilateral trade agreements are framing Australia as a significant country in food exports.
· Additionally, convenience food demand in Australia is rising due to consumers increasingly demanding healthy and convenient foods in terms of packaging and handling, leading to an increased usage of plastics in packaging.
* Increased Eco-friendly Packaging and Recycled Plastics*
· Intensified concerns for recyclability in the country are raising innovations in the market from the packaging manufacturers and end-user sectors. Bioplastics, fiber-based paper packaging, and other advances are observing growth because the blend within the materials makes recycling more accessible and cheaper and moderates the decomposition time in landfills.
· With the Australian government's 2025 waste recycling plans, regulations were made on the commitment to reduce packaging waste generated and make recycling easier were designed.
*What are the Latest Developments in the **Australia Plastic Packaging **Market**?** *
· In October 2022, Mondelez Australia promoted recycled soft plastic packaging to meet the country's 2025 targets.
· In July 2022, Nestlé Australia began one of its largest-ever collaborations with its KitKat brand. According to Nestlé Australia, the first chocolate bar in Australia with a wrapper made of recycled plastic will be the company's expanded KitKat ranges.
*Mordor Intelligence has Segmented the **Australia Plastic Packaging **Market **Based on Rigid Packaging, Flexible Packaging, Industrial Plastic Film Market, and End-user Industry:*
· By Rigid Packaging
· Material
· Polyethylene terephthalate (PET
· Polypropylene (PP)
· Polystyrene (PS) and Expanded Polystyrene (EPS)
· Polyvinyl chloride (PVC)
· Polyethene (PE)
· Product
· Bottles and Jars
· Trays and Containers
· Other Product Types
· By Flexible Packaging
· Material
· Polyethene (PE)
· Bi-orientated Polypropylene (BOPP)
· Cast polypropylene (CPP)
· Polyvinyl Chloride (PVC)
· Other Flexible Packaging Materials
· Product
· Pouches
· Bags
· Films & Wraps
· Other Product Types
· Industrial Plastic Film Market
· · Stretch Film
· Agricultural Film
· End-user Industry
· Food
· Beverage
· Healthcare
· Personal Care and Household
· Other End-user Industries
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Australia Plastic Packaging Market Report (2023-2028).
*Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:*
· Foodservice Packaging Market Report - The food service packaging market size is expected to grow from USD 123.64 billion in 2023 to USD 154.37 billion by 2028, at a CAGR of 4.54% during the forecast period (2023-2028).
· Pharmaceutical Plastic Packaging Market Report - The pharmaceutical plastic packaging market was valued at USD 45.07 billion in the previous year and is expected to record a CAGR of 6.17%, reaching USD 65.63 billion by the next five years.
· Pet Food Packaging Market Report - The pet food packaging market size is expected to grow from USD 12.08 billion in 2023 to USD 16.47 billion by 2028 at a CAGR of 6.40% during the forecast period (2023-2028).
*About Mordor Intelligence:*
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
*Attachment*
· Australia Plastic Packaging Market - Mordor Intelligence
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