Global Plastic Packaging Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Global Plastic Packaging Market Overview

“The global Plastic Packaging market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The plastic packaging market report has been segmented on the basis of product, application, and region.

This report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in the future.

Packaging of the product provides safety and detailed information regarding the ingredients used in the product.  Packaging enables the transportation of industrial equipment & machinery, chemicals, and food & beverages over long distances. Plastic is considered an ideal solution for packaging owing to its cost-effectiveness and strength as compared to its substitutes namely glass and metal.

On the basis of type, the rigid segment is estimated to hold a major revenue share in the global plastic packaging market and is expected to maintain its dominance over the forecast period. The use of rigid plastic in canisters and bottles for packing, transportation, and storage of chemicals and beverages is expected to drive segment growth over the forecast period.

On the basis of product, the wraps & films segment is expected to grow at a steady rate over the forecast period. The segment is majorly driven by growing demand for wraps and films frozen foods, packaged food, and ready-to-eat food over the forecast period.

On the basis of application, the food & beverages segment is estimated to hold a major revenue share in the global plastic packaging market on account of the increase in consumption of alcoholic beverages, sports & energy drinks, soft drinks, and fruit & vegetable juices in developing and developed economies, which is expected to boost the segment growth over the forecast period.

Moreover, increasing consumption of packed food owing to changing lifestyles and increasing disposable income of people is anticipated to drive market growth.

Asia Pacific market is estimated to hold a major revenue share in the global plastic packaging market, in 2017 and is expected to maintain its dominance over the forecast period. Rapidly growing end-use industries such as food & beverages, construction, consumer electronics, and personal care are expected to be a major factor driving market growth.

The Asia Pacific accounts for the largest revenue share contribution of the target market, followed by markets in North America, Europe, Latin America, and the Middle East & Africa respectively. Growing consumption of ready-to-eat food owing to changing lifestyle of consumers in the region is anticipated to fuel market growth.

Market segmentation and key players operating in the global plastic packaging market:

By type:

• Rigid
• Flexible

By product:

• Bottles
• Cans
• Wraps & films
• Bags
• Pouches

By Application:

• Food & Beverages
• Industrial Packaging
• Health Care
• Personal care
• Others (household products, cosmetics, and automotive components)

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa