MARKET OVERVIEW
The global mono-material plastic packaging market is projected to reach a value of USD 3.45 billion by 2030, growing at a CAGR of 4.1% from 2022 to 2030. Mono-material plastic packaging is a type of packaging that uses only one type of plastic, making it easier to recycle. This is in contrast to multi-material plastic packaging, which uses multiple types of plastic that are difficult to separate and recycle.
MARKET DRIVERS
The increasing demand for sustainable packaging solutions is the primary driver of the mono-material plastic packaging market. Growing awareness of environmental issues, such as plastic pollution, is also driving demand for more sustainable packaging options. Additionally, the need for lightweight and cost-effective packaging materials is also contributing to the growth of the mono-material plastic packaging market.
MARKET SEGMENTATION
The global mono-material plastic packaging market is segmented by material, end-use sector, and region.
- Material: The market is segmented into polyethylene terephthalate (PET), polypropylene (PP), polyethylene (PE), and polyvinyl chloride (PVC). PET is the largest segment, accounting for over 50% of the market share.
- End-use sector: The market is segmented into food and beverage, pharmaceuticals, personal care, and other. Food and beverage is the largest end-use sector, accounting for over 40% of the market share.
- Region: The market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific is the largest market, accounting for over 35% of the market share.
