Global Plastic Packaging Market By Type (Rigid Plastics, Flexible Plastics), Material Type (Polypropylene, Polyethylene, Poly Vinyl Chloride, Polystyrene, Ethylene Vinyl Alcohol, Bioplastic, Polyethylene Terephthalate, Polyamide, Others), Application (Food & Beverages, Industrial, Household Products, Personal Care, Medical, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Plastic Packaging Market
Global plastic packaging market is expected to rise to an estimated value of USD 180.56 billion by 2026; registering a substantial CAGR in the forecast period of 2019-2026.This rise in market value can be attributed to demand of plastics for the rigid packaging methods.
Market Definition: Global Plastic Packaging Market
Plastic packaging is used widely in almost every industry due to its cutting edge design that helps to deliver innovative packaging solutions. The plastic packaging is used for the protection of fragile goods that are difficult to carry and transport. Plastic provides cost effective and durable performance to the products
- Rapid growing demand of convenient packaging from various industries such as food and beverages and personal care, is driving the growth of the market
- Urbanization, cost efficiency and product safety are the major factors driving the growth of the market
- Growing consumer awareness related to eco-friendly packaging
- Awareness campaigns for minimising the usage of plastic hinders the market growth
- Non-recyclable nature of plastics restricts its usage and hence, acts as a restraint for the growth of the market
- Strengthening of government regulations related to packaging
Global Plastic packaging Market Segmentation:
- Rigid Plastics
- Flexible Plastics
By Material Type
- Poly Vinyl Chloride
- Ethylene Vinyl Alcohol
- Polyethylene Terephthalate
- Food & Beverages
- Household Products
- Personal Care
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In June 2019, CCC Packaging announced the acquisition of a U.S. packaging solutions provider, Tri State Distribution. The acquisition will help the company to build strong its pharmaceutical packaging segment by merging the products of acquired company into its own portfolio.
- In October 2018, Sealed Air announced their innovative packaging solutions to be 100% reusable and recyclable by the year 2025. The company will collaborate with other players to ensure the execution of the new project.
Global plastic packaging market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of plastic packaging market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in plastic packaging market are Amcor plc, Bemis Company, Inc., Sonoco Products Company, Sealed Air, CCC Packaging, Reynolds Pens, Berry Global Inc., Mondi, COVERIS, ALPLA, Zhuhai Zhongfu Enterprise Co. Limited, Huhtamaki, Winpak Ltd., BALL CORPORATION, Tetra Laval International S.A., DS Smith, PROLAMINA PACKAGING
Research Methodology: Global Plastic Packaging Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved