Polystyrene Packaging Market
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Polystyrene Packaging Market size reached USD 22.3 billion in 2022 and is poised to exhibit over 3.4% CAGR between 2023 and 2032. Driven by the growing prevalence of cosmetics and personal care application.
The market for cosmetics & personal care products has grown due to the rising disposable income, a desire for attractiveness, and the maintenance of personal cleanliness. These items' ingredients are perishable and have a limited shelf life. The quality & stability of the substances in cosmetics and personal care products can be harmed by exposure to air, heat, light, and cold. Polystyrene packaging provides an excellent solution to these problems, facilitating convenient transportation while maintaining the desired physical state of the products.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Polystyrene Packaging Market size in 2022: | USD 22.3 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 3.4 |
| 2023 Value Projection: | USD 31.03 Billion |
| Historical Data for: | 2018 to 2022 |
| No of Pages: | 350 |
| Tables, Charts & Figures: | 198 |
| Segments Covered: | Product type and End-use |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Polystyrene, one of the most malleable plastics, is inexpensive, easy to produce, and lightweight. It is used in the typical takeaway containers in many restaurants and businesses due to its advantageous characteristics, such as heat tolerance and retention. The damaging impacts of such materials on the environment and human health compel consumers to look for more environment-friendly alternatives. Regulations, environmental concerns, and consumer preferences are limiting the use of polystyrene in packaging globally.
The polystyrene packaging market for pharmaceutical and medical products has grown as a result of improved access to healthcare services, rising medical insurance use, greater public awareness of healthcare, favorable population demographics, increasing research & development, and increasing disposable income. Pharmaceutical products must be given to customers with extreme caution as they are vulnerable to contamination. Pharmaceutical businesses offer polystyrene packing as one of the most commonly utilized materials to allay this worry.
Polystyrene is a common material used in the packaging of food including disposable spoons, dishes, hot & cold cups, meat trays, egg trays, and containers for medications and personal care products. Polystyrene is not susceptible to contamination by microplastics as it is lightweight and easy to biodegrade, causing it to not stay in the environment for a long time
Regular plastic packaging is being replaced by lighter, more economical, and environment-friendly materials in the recent years. Food products that are hot or cold are packaged in cups or containers made of polylactic acid-lined paper. The use of edible cups made from polystyrene products for packaging and serving is helping diversify the polystyrene packaging market growth.
APAC region dominated the global polystyrene packaging market with an annual revenue of 73.62 Million USD. With the increasing need for polystyrene packaging in the region, Germany is predicted to lead the polystyrene packaging industry in Europe. The Middle East & Africa's market is dominated by South Africa owing to the increased use of the material in the region.
By Type
By End-use
By Region
Notable players in the polystyrene packaging industry are Ohishi Sangyo Co., Ltd., Kaneka Corporation, Alpek S.A.B. de C.V, MONOTEZ, Versalis S.p.A., Nefab Group, SUNPOR, Sonoco Products Company, Heubach Corporation, and Synthos.
Asia Pacific polystyrene packaging market is poised to attain a decent valuation by 2032 due to the accelerating consumer shift toward sustainable packaging materials.
The market size of polystyrene packaging was valued at USD 22.3 billion in 2022 and is primed to record over 3.4% CAGR from 2023 to 2032 due to the increased product usage in a variety of cosmetics and personal care applications.
The polystyrene cups segment is anticipated to grow considerably through 2032, attributed to the ongoing replacement of plastic-based packaging with lighter, more economical, and environment-friendly materials.