Russia Plastic Packaging Market Size (2024 - 2029)

Russia Plastic Packaging Market Analysis

The Russia Plastic Packaging Market size in terms of production volume is expected to grow from 1.65 Million tonnes in 2024 to 2.33 Million tonnes by 2029, at a CAGR of 7.15% during the forecast period (2024-2029).

Customers are more inclined toward plastic packaging than other packaging products, as plastic packages are lightweight and easier to handle. Similarly, significant manufacturers prefer plastic packaging solutions because of their lower cost of production.

• Polyethene terephthalate (PET) and high-density polyethylene (HDPE) polymers have expanded plastic packaging applications in the liquid packaging segment. HDPE bottles are popular for milk and fresh juice packaging. The rise in the working women population in the country is increasing the overall demand for packaged food as these consumers also contribute to significant spending power and a busy lifestyle.
• Stringent regulations on plastic use can hinder the market's growth. The availability of alternates in the market can also impact market growth. However, with increasing awareness about health concerns and the prevention of waterborne diseases, consumers are continuously purchasing packaged water. With the increase in the sales of bottled drinking water, the demand for plastic packaging is rising, driving the market.
• According to Wisconsin Economic Development, the production and processing of plastics is one of the largest industries of the Russian chemical sector in terms of the number of companies. Russia has significantly increased its possibility of producing plastics in the last five years. The industry logged 62% growth from its size five years earlier. About 15% of industrial products in Russia are made from plastic. These products are used in various industries, such as food, beverages, and manufacturing. All such factors drive the growth of the market.
• The region's beverage industry is generating significant demand for plastic packaging. With plastic packaging being a primary packaging material for beverages, the market for plastic packaging is expected to grow at a healthy rate. According to the Russian Federal State Statistics Service, bottled water in retail stores was RUB 43.7 (USD 0.48) per liter.
• Since the COVID-19 pandemic, consumers and businesses had to alter how they view packaging health and safety. During the pandemic, single-use plastic gained prominence because consumers were concerned that reusable packaging would increase the risk of transmission. Further, the Russia-Ukraine War impacted the country's plastic packaging market as many production units halted production.

Russia Plastic Packaging Industry Segmentation

Plastic packaging is a part of the multi-faceted system that provides products from the point of manufacture to the consumption end. Its principal purpose is to ensure safe and secure product delivery in perfect condition to the end user (manufacturer of the product or consumer). Its role in a circular economy is to sustain the value of a product as long as required and help remove product waste.

The Russian plastic packaging market is segmented by type (rigid and flexible), industry (food, beverages, healthcare, retail, manufacturing, and other industries), and product (bottles, cans, jars, pouches, and other products). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.