growth of food delivery and takeaway industry is driving the Single-Use Packaging Market in US
Technavio analyzes that the Single-Use Packaging Market in US is expected to grow at a CAGR of 6.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2441.7 million.There are various factors that contribute to the growth of the market. The surge in the food delivery and takeaway industry in the US has significantly fueled the growth of the single-use packaging market. With the increasing preference for convenient and contactless food consumption options, the demand for single-use packaging solutions, such as containers, bags, and utensils, has risen substantially. This trend is expected to continue, as more consumers opt for the ease and convenience of home delivery and takeaway services.
The single-use packaging market in the US is witnessing significant growth, with the rigid packaging segment leading the way in terms of revenue in 2023. This segment's expansion is primarily driven by the burgeoning food and beverage industry, which increases the demand for bottles, jars, fruit juice containers, food package containers, and foodie bags. Furthermore, the increasing demand for components such as cycle wheels, containers, and electronic switches propels the growth of the rigid packaging segment. Additionally, the automotive industry's development is expected to boost the single-use packaging market in the US throughout the forecast period. In the context of this growth, regulatory requirements, including labelling, waste management, and clean-up obligations, are becoming increasingly stringent. Separate collection targets for recycled plastic are also being implemented, and the circular economy is gaining traction as a priority. The European Union's Single Use Plastics Directive, for instance, is influencing the US market, with impact assessments underway to determine the potential regulatory implications. In this evolving landscape, businesses must stay informed and adapt to the changing regulatory environment to remain competitive.
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Single-Use Packaging Market in US Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The Single-Use Packaging Market in the US is a significant contributor to plastic waste, harming the environment and raising health concerns through marine litter. To mitigate this, sustainable alternatives to single-use items like cotton bud sticks, cutlery, plates, straws, stirrers, balloons, food containers, beverage containers, cigarette butts, plastic bags, packets, wrappers, wet wipes, and sanitary items are being promoted. Consumption reduction, awareness-raising measures, design requirements, and labelling requirements are essential. Waste management, clean-up obligations, and a separate collection target for recycled plastic are crucial components of a circular economy within the internal market.
The Single-Use Packaging Market in the US is characterized by a complex supply chain, with various stakeholders involved in the production and distribution of metal, glass, and plastic containers. Suppliers play a crucial role in the value chain, providing raw materials such as steel, aluminum, tin for metal containers, borosilicate, neutral glass, soda-lime-silica glass, treated soda-lime glass, de-alkalized soda-lime glass, high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyethylene terephthalate (PET), polypropylene (PP), and polyvinyl chloride (PVC) for plastic containers. These materials undergo rigorous research and development to create innovative and sustainable packaging solutions that address environmental concerns, such as plastic waste, marine litter, and health risks associated with single-use packaging. The manufacturing process involves large-scale production to meet market demand, while distribution channels ensure end-users have access to a wide range of single-use packaging options, including cotton bud sticks, cutlery, plates, straws, stirrers, and balloons.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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