Asia-Pacific Polystyrene Packaging Market, By Type (Bowls, Tubs, Boxes, Cups, Bags, Pouches, Bottles, Wraps and Films, Plate, and Others), Application (Fruits, Vegetable, Fish, Sea Products, Meat Products, Milk Products/Dairy Products, Bakery & Confectionery, Snacks, and Cooked Food), End-User (Food & Beverages, Pharmaceuticals, and Personal & Home Care) - Industry Trends and Forecast to 2030.
Asia-Pacific Polystyrene Packaging Market Analysis and Insights
The Asia-Pacific polystyrene packaging market is expected to grow significantly in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.9% in the forecast period of 2023 to 2030 and is expected to reach USD 11,790.86 million by 2030. The major factor driving the growth of the polystyrene packaging market is the increasing use in packaging of medical and pharmaceutical industries, and the rising number of food outlets is expected to propel the Asia-Pacific polystyrene packaging market growth.
The Asia-Pacific polystyrene packaging market report provides details of market share, new developments, and the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue-impact solution to achieve your desired goal.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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By Type (Bowls, Tubs, Boxes, Cups, Bags, Pouches, Bottles, Wraps and Films, Plate, and Others), Application (Fruits, Vegetable, Fish, Sea Products, Meat Products, Milk Products/Dairy Products, Bakery & Confectionery, Snacks, and Cooked Food), End-User (Food & Beverages, Pharmaceuticals, and Personal & Home Care)
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Countries Covered
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Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia, New Zealand, Rest of Asia-Pacific
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Market Players Covered
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Alpek S.A.B. de C.V., Ohishi Sangyo Co.,Ltd., Sonoco Products Company, KANEKA CORPORATION, MONOTEZ, SUNPOR, Versalis S.p.A. (A Subsidiary of Eni S.p.A), NEFAB GROUP, Heubach Corporation, and Synthos among others
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Market Definition
Polystyrene is a versatile polymer used to produce a wide range of consumer products. It is highly used as a packaging material due to its solid and hard plastic properties. It offers transparency to the full product. Plastic often combines with additives and other polymers to make it ideal for application in different industries such as pharmaceuticals, homes, personal care, and others.
Asia-Pacific Polystyrene Packaging Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
Rise in the usage of polystyrene packaging in cosmetics and other personal goods due to enhanced durability
The demand for cosmetics and personal goods products has increased over the years because of the increasing disposable incomes, wishes to look beautiful, and maintain personal hygiene. However, the contents of such products are perishable and have a definite shelf life. Exposure to air, heat, light and cold can worsen the quality and stability of the ingredients in cosmetics and personal goods products. To overcome such challenges, polystyrene packaging offers a great solution. This not only helps to keep products in the desired physical state but also can be helpful in easy transportation.
- Increase use in packaging of the medical and pharmaceutical industry
Enhanced access to healthcare services, growing use of medical insurance, rising public awareness of healthcare, favorable demographics, increased research and development, and growing disposable incomes have increased the market of the medical and pharmaceutical industry. Pharmaceutical products are sensitive to contamination and must be supplied to consumers with great safety. To address this concern, polystyrene packaging offers to be one of the most widely used materials by the pharmaceutical companies
- Rise in the number of food outlets
The increasing urbanization, the introduction of Asia-Pacific food chains, increasing income, demographics, the advent of e-commerce in the food industry, and changing eating habits are forces driving the food industry's market. The metro cities dominate the food restaurant market as the consumers have high disposable incomes and increased spending ability. They are also exposed to various cuisines and packaged food-related items. The advent of e-commerce in the food and beverage industry also drives the rising number of food outlets.
Opportunities
- Ability to recycle polystyrene materials
Polystyrene is a flexible polymer employed for various items, including packaging, transportation, consumer goods, etc. However, environmental harm occurs because it is non-degradable when these items are discarded. As a result, greater emphasis is placed on recycling and reusing polystyrene materials. After use, a significant amount of expanded PS is released from supermarkets, department stores, wholesale markets, shops and restaurants, businesses that sell electrical equipment, and industries where machines are made. The polystyrene-based materials that need to be recycled are washed to remove any dust or foreign particles and then crushed.
- Increase consumer's inclination toward convenient and affordable packaging
The core of the marketing plan is packaging since it raises the product's shelf value and facilitates handling. Additionally, it is crucial to consider how to make the package more appealing while safeguarding the product contained in the package from environmental effects and maintaining the product's freshness. According to the consumer's convenience, packaging entails placing the items in appealing packets. To increase product demand among consumers, appropriate and appealing packaging is utilized as a promotional strategy.
Restraints
- Availability of a wide range of substitutes
Polystyrene is one of the most flexible plastics because of its lightweight nature, ease of processing, and minimal cost. It has become the go-to takeout container for many restaurants and industries owing to its advantageous performance characteristics, including heat tolerance and retention. However, such materials negatively affect human health and the environment, forcing consumers to look for other sustainable alternatives. Consumer demands, awareness regarding sustainability, and regulations are the restraints causing the decrease in the Asia-Pacific polystyrene packaging market.
In recent times, other lightweight, low-cost, and green materials have replaced polystyrene packaging. The polylactic acid-lined paper has been used as containers or cups for packaging hot or cold food items. Edible cups made from natural grain products are in demand for packaging and serving hot and cold beverages in the restaurant industry.
- Health and environmental issues associated with polystyrene
Polystyrene has polluted and negatively impacted the environment and our health due to its extensive use. It takes almost 500 years to decompose naturally discarded, so it stays in the environment for a very long time. Such polystyrene-based materials add to landfills and water bodies, further degrading the soil and water quality. Small polystyrene fragments could be consumed by animals present on land and result in choking or intestinal blockage. After disintegrating in the ocean, polystyrene can potentially be eaten by fish which may get eaten by the marine species higher up the food chain, which would concentrate the contamination
Challenges
- Stringent regulations regarding the use of polystyrene
Polystyrene packaging has wide applications in food packaging, like disposable cutlery and plates, single-use hot or cold beverage cups, meat and egg trays, and containers for pharmaceuticals and personal care products. However, due to its diverse use, polystyrene materials often get up and are added to waste. Polystyrene, because of their lightweight nature, breaks into small fragments and is not easily biodegradable, causing it to be persistent in the environment and susceptible to microplastic contamination. Styrene is also a potential carcinogen from which polystyrene is made. Frequent exposure to polystyrene may cause adverse health effects
- Volatility in raw material prices
Made from the styrene monomer, polystyrene is an artificial aromatic hydrocarbon polymer. By combining ethylene and benzene, styrene is created. Styrene consists of 26% ethylene and 74% benzene. Along with benzene and ethylene, a catalyst such as aluminum trichloride, magnesium oxide, and iron oxide is the other raw materials involved in the production of polystyrene. It is reasonable to anticipate that since benzene and ethylene are products of the processing of petroleum and natural gas, their prices will follow the price of crude oil. In addition, the facilities required to produce such polystyrene require high capital and extensive infrastructure.
Recent Development
- In May 2022, Alpek, S.A.B. de C.V. received all necessary approvals from the regulatory authorities and finalized its acquisition of OCTAL Holding SAOC. The company acquired 100% of the shares of OCTAL for USD 620 million on a debt-free basis
Asia-Pacific Polystyrene Packaging Market Scope
The Asia-Pacific polystyrene packaging market is categorized based on type, application, and end-user. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Type
- Bowls
- Tubs
- Boxes
- Cups
- Bags
- Pouches
- Bottles
- Wraps and Films
- Plate
- Others
Based on type, the Asia-Pacific polystyrene packaging market is classified into ten segments bowls, tubs, boxes, cups, bags, pouches, bottles, wraps and films, plate, and others.
Application
- Fruits
- Vegetable
- Fish
- Sea Products
- Meat Products
- Milk Products/Dairy Products
- Bakery & Confectionery
- Snacks
- Cooked Food
Based on product, the Asia-Pacific polystyrene packaging market is classified into nine segments fruits, vegetable, fish, sea products, meat products, milk products/dairy products, bakery & confectionery, snacks, and cooked food.
End-User
- Food & Beverages
- Pharmaceuticals
- Personal & Home Care
Based on the end-users, the Asia-Pacific polystyrene packaging market is classified into three segments food & beverages, pharmaceuticals, and personal & home care.
Asia-Pacific Polystyrene Packaging Market Regional Analysis/Insights
The Asia-Pacific polystyrene packaging market is segmented based on type, application, and end-users.
The Asia-Pacific polystyrene packaging market countries are Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand, and the rest of Asia-Pacific. China dominates the Asia-pacific polystyrene packaging market, increasing the use of polystyrene packaging in the region.
The country section of the report also provides individual market-impacting factors and market regulation changes that impact the market's current and future trends. Data point downstream and upstream value chain analysis, technological trends, porter's five forces analysis, and case studies are some pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Polystyrene Packaging Market Share Analysis
Asia-Pacific polystyrene packaging market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points are only related to the companies focusing on the Asia-Pacific Polystyrene Packaging market.
Some prominent participants operating in the Asia-Pacific polystyrene packaging market are Alpek S.A.B. de C.V., Ohishi Sangyo Co.,Ltd., Sonoco Products Company, KANEKA CORPORATION, MONOTEZ, SUNPOR, Versalis S.p.A. (A Subsidiary of Eni S.p.A), NEFAB GROUP, Heubach Corporation, and Synthos, among others.
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