The plastic packaging goods production value in Austria increased from 930.9 million euros in 2013 to 1210 million euros in 2023. Actual data indicates a robust growth trajectory, with significant year-on-year variations marked by a peak of 5.13% in 2018. Growth was muted around 2019 and 2020, with a notable dip of -0.61% in 2020. However, a recovery ensued with year-on-year variations of 3.48% and 2.17% in 2021 and 2022, respectively. In 2023, the production value rose by 2.12%, standing at 1210 million euros. The 5-year CAGR leading up to 2023 was 1.74%.
Future trends forecast until 2028 suggest moderate growth, with a 5-year CAGR of 1.54% and an overall growth rate of 7.96%. This indicates a continual yet slow increase in production value, reaching an estimated 1330 million euros by 2028.
Future trends to watch:
- Sustainability Initiatives: As environmental concerns grow, the demand for recyclable and biodegradable plastic packaging could affect production values.
- Technological Advancements: Innovations in material science could lead to cheaper, more efficient production methods.
- Regulatory Changes: Government policies around plastic usage and recycling mandates could have significant impacts on production practices and values.
- Market Demand Fluctuations: Shifts in consumer behavior and preferences for packaging types could influence production volumes.
