Based on the historical data, the value of plastic container, bobbin, and package imports to South Africa has experienced fluctuations from 2013 to 2023. The import value stood at 208.04 million USD in 2023. Year-on-year variations reveal significant growth in specific years, such as a 15.13% increase in 2018 and a 26.57% rise in 2021, whereas 2020 saw a notable decline by 14.38%. The most recent two years recorded modest growth with a 0.83% increase in 2022 and a 2.72% in 2023. The compound annual growth rate (CAGR) over the last five years is 2.25%.
Looking ahead, the forecast for the period 2024 to 2028 suggests a steady upward trend with a five-year CAGR of 2.03%, culminating in a 10.56% growth rate by 2028. Import values are projected to increase incrementally each year, reaching approximately 237 million USD by 2028.
Future Trends to Watch For:
- Changes in trade policies and tariffs influencing import costs.
- Domestic production capabilities potentially affecting import demand.
- Technological advancements in plastic manufacturing.
- Environmental regulations impacting plastic usage and preferences.
- Global supply chain disruptions that could influence import volumes and costs.
