Plastic Packaging Market

Plastic Packaging Market Insights, Size, Share, Opportunity
Analysis, and Industry Forecast till 2025
Plastics are organic compounds with high molecular weight, which consists of a
wide range of synthetic organic compounds which can be molded into various
shapes, due to malleability. Packaging is a technology, which involves
enclosing and protecting various types of products for storage, distribution, sale
and use. The increasing demand for healthy, safe and convenience food in the
last couple years in Asia Pacific, Europe and North America respectively, has
been rapidly driving the global market for plastic packaging. Also, the use of
polyethylene terephthalate (PET), as a packing material for food & beverages,
pharmaceuticals and household product, due to its strength, versatility and
recyclability and hence is projected to boost an excellent sustainability for
plastic packaging market during 2017-2025.
The global plastic packaging market size was valued at US$ 300.86 billion
(revenue) and 91,520.07 kilo tons (volume) in 2016 and is expected to expand at
a CAGR of 5.3% in terms of revenue and 5.1% in terms of volume during 2017
– 2025.
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Regional Insights
Asia Pacific, followed by Europe and North America, respectively, accounted
for major share in the global plastic packaging market both in terms of revenue
and volume in 2016 and the trend is estimated to remain the same over the
forecast period. In 2016, Asia Pacific held a share of 41.8% in terms of volume,
followed by Europe (24.3%). The growing demand for rigid packaging product
in Asia Pacific due to growing demand for packaged and convenience food
coupled with growing population and infrastructure development of retail and
hospitality sector is expected to drive growth of the global plastic packaging
market over the forecast period.
According to a study conducted by Coherent Market Insights, the household
product, end use segment market is expected to witness a CAGR of 5.3% from
2017 to 2025 in terms of revenue which in turn is expected to fuel the global
plastic packaging market.
Multinational players need to tap potential addressable market in the
emerging regions with the help of geographical expansion
Product portfolio expansion and geographical expansion are the key market
trends which are expected to shape the industry in the near future. Major players
in the global plastic packaging market include Amcor Ltd., Sealed Air
Corporation, Bemis Company, Sonoco Products Company, Mondi Plc., Tray
Pack Corporation, Lacerta Group Inc., Bemis Company Inc., Alwin Lehner
GmbH & Co. Kg, RPC Group Plc among others.
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Global Plastic Packaging Market report categorizes global market By Product Type, End Use Industry, and Geography - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

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