Plastic packaging goods turnover in Malta showed significant fluctuations over the years. Beginning with a robust growth of 13.84% in 2017, the market experienced slower growth in 2018 (3.04%) before picking up pace again in 2019 (5.9%). However, 2020 saw a steep decline of 19.22%, likely due to the global impact of the COVID-19 pandemic. A recovery phase began in 2021 with a growth rate of 16.21%, followed by more moderate increases in 2022 (9.5%) and 2023 (6.5%). In 2023, the value stood at 39.3 million euros. Over the past five years, the average compound annual growth rate (CAGR) was approximately 3%.
Looking ahead, the forecasted growth suggests a steady but slower increase in turnover, with a 5-year CAGR forecasted at 0.84% and an overall growth rate of 4.25% by 2028. Key future trends to monitor include advancements in sustainable packaging solutions, regulatory changes focusing on environmental impacts, and potential shifts in consumer preferences towards eco-friendly alternatives, which could significantly influence market dynamics.
