United States's Plastic Packaging Market to Grow at +0.3% CAGR, Reaching $30.3B by 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: U.S. - Plastic Packaging - Market Analysis, Forecast, Size, Trends and Insights.

Driven by increasing demand, the plastic packaging market in the United States is expected to continue growing over the next decade. Market performance is predicted to expand at a slower pace, with a forecasted CAGR of +0.3% in volume and +1.9% in value. By 2035, the market volume is projected to reach 5.4M tons and the market value to hit $30.3B.

Driven by increasing demand for plastic packaging in the United States, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.3% for the period from 2024 to 2035, which is projected to bring the market volume to 5.4M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.9% for the period from 2024 to 2035, which is projected to bring the market value to $30.3B (in nominal wholesale prices) by the end of 2035.

In 2024, plastic packaging consumption in the United States fell to 5.2M tons, waning by -9.1% against the previous year. Over the period under review, the total consumption indicated notable growth from 2013 to 2024: its volume increased at an average annual rate of +2.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -24.0% against 2021 indices. As a result, consumption reached the peak volume of 6.9M tons. From 2022 to 2024, the growth of the consumption failed to regain momentum.

The value of the plastic packaging market in the United States contracted slightly to $24.7B in 2024, waning by -3.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a measured increase from 2013 to 2024: its value increased at an average annual rate of +2.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -15.4% against 2021 indices. As a result, consumption reached the peak level of $29.1B. From 2022 to 2024, the growth of the market remained at a lower figure.

Plastic sacks and bags (2.9M tons), plastic boxes, cases, crates and similar packing articles (1.9M tons) and carboys, bottles and similar articles of plastics (394K tons) were the main products of plastic packaging consumption in the United States, with a combined 99.9% share of the total volume.

From 2013 to 2024, the biggest increases were recorded for carboys, bottles and similar articles of plastics (with a CAGR of +4.9%), while consumption for the other products experienced more modest paces of growth.

In value terms, plastic sacks and bags ($13.3B), plastic boxes, cases, crates and similar packing articles ($8.8B) and carboys, bottles and similar articles of plastics ($2.5B) constituted the products with the highest levels of market value in 2024.

Among the main consumed products, carboys, bottles and similar articles of plastics, with a CAGR of +6.8%, saw the highest growth rate of market size over the period under review, while market for the other products experienced more modest paces of growth.

In 2024, the amount of plastic packaging produced in the United States fell to 4.3M tons, dropping by -12.1% against the year before. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 64%. As a result, production reached the peak volume of 6.1M tons. From 2022 to 2024, production growth failed to regain momentum.

In value terms, plastic packaging production shrank to $22.3B in 2024. Over the period under review, the total production indicated moderate growth from 2013 to 2024: its value increased at an average annual rate of +2.2% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -17.1% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of 50% against the previous year. As a result, production reached the peak level of $26.8B. From 2022 to 2024, production growth remained at a lower figure.

Plastic sacks and bags (2.1M tons), plastic boxes, cases, crates and similar packing articles (2M tons) and carboys, bottles and similar articles of plastics (248K tons) were the main products of plastic packaging production in the United States, together accounting for 99.9% of the total output.

From 2013 to 2024, the biggest increases were recorded for carboys, bottles and similar articles of plastics (with a CAGR of +2.8%), while production for the other products experienced more modest paces of growth.

In value terms, plastic sacks and bags ($11B), plastic boxes, cases, crates and similar packing articles ($9.1B) and carboys, bottles and similar articles of plastics ($2.1B) appeared to be the products with the highest levels of production in 2024, with a combined 99.9% share of the total output.

Carboys, bottles and similar articles of plastics, with a CAGR of +6.9%, saw the highest rates of growth with regard to market size in terms of the main produced products over the period under review, while production for the other products experienced more modest paces of growth.

In 2024, approx. 1.6M tons of plastic packaging were imported into the United States; with an increase of 4.8% against the previous year's figure. Overall, total imports indicated moderate growth from 2013 to 2024: its volume increased at an average annual rate of +4.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -8.5% against 2022 indices. The growth pace was the most rapid in 2016 with an increase of 23% against the previous year. Over the period under review, imports reached the peak figure at 1.7M tons in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.

In value terms, plastic packaging imports rose remarkably to $6.1B in 2024. The total import value increased at an average annual rate of +3.1% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 16% against the previous year. Over the period under review, imports hit record highs at $6.4B in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.

China (424K tons), Mexico (317K tons) and Canada (289K tons) were the main suppliers of plastic packaging imports to the United States, with a combined 65% share of total imports. Vietnam, Taiwan (Chinese), Thailand, Malaysia, India and South Korea lagged somewhat behind, together comprising a further 34%.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +29.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic packaging suppliers to the United States were China ($1.4B), Canada ($1.3B) and Mexico ($1.1B), together accounting for 61% of total imports. Taiwan (Chinese), Vietnam, Thailand, South Korea, Malaysia and India lagged somewhat behind, together comprising a further 25%.

Vietnam, with a CAGR of +24.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

In 2024, plastic sacks and bags (990K tons) constituted the largest type of plastic packaging supplied to the United States, accounting for a 62% share of total imports. Moreover, plastic sacks and bags exceeded the figures recorded for the second-largest type, plastic boxes, cases, crates and similar packing articles (378K tons), threefold.

From 2013 to 2024, the average annual growth rate of the volume of plastic sacks and bags imports stood at +4.7%. With regard to the other supplied products, the following average annual rates of growth were recorded: plastic boxes, cases, crates and similar packing articles (+4.7% per year) and carboys, bottles and similar articles of plastics (+0.7% per year).

In value terms, plastic sacks and bags ($3.5B) constituted the largest type of plastic packaging supplied to the United States, comprising 58% of total imports. The second position in the ranking was held by plastic boxes, cases, crates and similar packing articles ($1.3B), with a 22% share of total imports.

From 2013 to 2024, the average annual growth rate of the value of plastic sacks and bags imports stood at +3.7%. With regard to the other supplied products, the following average annual rates of growth were recorded: plastic boxes, cases, crates and similar packing articles (+2.6% per year) and carboys, bottles and similar articles of plastics (+2.0% per year).

In 2024, the average plastic packaging import price amounted to $3,828 per ton, surging by 5.7% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 an increase of 6.4%. The import price peaked at $4,393 per ton in 2015; however, from 2016 to 2024, import prices stood at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was carboys, bottles and similar articles of plastics ($5,496 per ton), while the price for plastic boxes, cases, crates and similar packing articles ($3,536 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by plastic bottle (+1.3%), while the prices for the other products experienced a decline.

The average plastic packaging import price stood at $3,828 per ton in 2024, rising by 5.7% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the average import price increased by 6.4% against the previous year. The import price peaked at $4,393 per ton in 2015; however, from 2016 to 2024, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($9,551 per ton), while the price for Malaysia ($1,979 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by South Korea (+7.3%), while the prices for the other major suppliers experienced mixed trend patterns.

In 2024, approx. 676K tons of plastic packaging were exported from the United States; almost unchanged from the previous year's figure. In general, exports, however, saw a mild contraction. The growth pace was the most rapid in 2021 with an increase of 31% against the previous year. As a result, the exports reached the peak of 913K tons. From 2022 to 2024, the growth of the exports remained at a lower figure.

In value terms, plastic packaging exports fell to $4.1B in 2024. The total export value increased at an average annual rate of +2.0% over the period from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 11%. Over the period under review, the exports reached the peak figure at $4.2B in 2023, and then shrank in the following year.

Mexico (430K tons) was the main destination for plastic packaging exports from the United States, with a 64% share of total exports. Moreover, plastic packaging exports to Mexico exceeded the volume sent to the second major destination, Canada (146K tons), threefold.

From 2013 to 2024, the average annual growth rate of volume to Mexico stood at +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-5.6% per year) and Japan (-4.8% per year).

In value terms, the largest markets for plastic packaging exported from the United States were Mexico ($1.9B), Canada ($1.4B) and Japan ($130M), with a combined 83% share of total exports.

Among the main countries of destination, Mexico, with a CAGR of +3.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Plastic boxes, cases, crates and similar packing articles (420K tons) was the largest type of plastic packaging exported from the United States, accounting for a 62% share of total exports. Moreover, plastic boxes, cases, crates and similar packing articles exceeded the volume of the second product type, plastic sacks and bags (183K tons), twofold.

From 2013 to 2024, the average annual rate of growth in terms of the volume of plastic boxes, cases, crates and similar packing articles exports was relatively modest. With regard to the other exported products, the following average annual rates of growth were recorded: plastic sacks and bags (-0.6% per year) and carboys, bottles and similar articles of plastics (-6.6% per year).

In value terms, plastic packaging with the largest exports in the United States were plastic boxes, cases, crates and similar packing articles ($2.1B), plastic sacks and bags ($1.2B) and carboys, bottles and similar articles of plastics ($746M).

Plastic sacks and bags, with a CAGR of +2.7%, saw the highest growth rate of the value of exports, among the main product categories over the period under review, while shipments for the other products experienced more modest paces of growth.

The average plastic packaging export price stood at $6,111 per ton in 2024, waning by -2.8% against the previous year. Overall, export price indicated noticeable growth from 2013 to 2024: its price increased at an average annual rate of +3.1% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 when the average export price increased by 54%. The export price peaked at $6,288 per ton in 2023, and then fell slightly in the following year.

There were significant differences in the average prices for the major types of exported product. In 2024, the product with the highest price was carboys, bottles and similar articles of plastics ($10,407 per ton), while the average price for exports of plastic boxes, cases, crates and similar packing articles ($5,103 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: plastic bottle (+7.2%), while the prices for the other products experienced more modest paces of growth.

The average plastic packaging export price stood at $6,111 per ton in 2024, reducing by -2.8% against the previous year. In general, export price indicated a moderate increase from 2013 to 2024: its price increased at an average annual rate of +3.1% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2022 when the average export price increased by 54%. Over the period under review, the average export prices hit record highs at $6,288 per ton in 2023, and then contracted modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($9,516 per ton), while the average price for exports to Mexico ($4,398 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the plastic packaging market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles