Plastic Packaging Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Plastic Packaging Market: Snapshot
Packaging involves the safe delivery of goods from manufacturers to customers. Plastics have now become an important material in a myriad packaging applications across a wide range of sectors such as healthcare, food and beverages, personal care and cosmetic, and customer goods. Plastics are preferred for packaging as they offer a cleaner, flexible, and is a better appealing packaging form for customers. Moreover, the demand for plastic packaging has risen due to their cost-effectiveness, durability, and high performance properties.
Improvements in lifestyle andgrowing urbanization are expected to be some of the primary factors driving the demand for plastic packaging. Because of its flexibility, plastic packaging can be easily used for packing fresh food products as well as medical equipment. A wide range of molding processes for plastics have enabled manufacturers to produce plastic packaging products with impressive aesthetics and protective properties that has led to a steady progress of the plastic packaging market. The ever expanding food and beverages sector has significantly contributed towards the development of the plastic packaging market. However, factors such as different price control measures imposed on raw materials and fluctuating prices of crude oil are likely to hamper the growth of the plastics packaging market.
On the other hand, many manufacturers are now concentrating on recyclable or reusable plastics packaging specially for food and beverages packaging. Consistent efforts by administrators and policy makers have broadened the control over plastic packaging in different geographical regions. This has also led to several technological advancements in the global plastics packaging market.
Global Plastic Packaging Market: Overview
The primary function of packaging comprises the safe delivery of products from the manufacturer to the consumer. Plastics have become viable material choices in myriad packaging applications in a wide range of industries, including food and beverages, healthcare, cosmetic and personal care, and consumer goods. Plastics offer a cleaner, flexible, and more appealing form of packaging, particularly for various foods and beverages. They have soared in popularity because of their high performance features, cost-effectiveness, and durability.
Owing to their flexibility, plastics can be safely used for protecting medical equipment as well as fresh foods. A variety of plastic molding processes have led manufacturers to offer plastics packaging products with remarkable aesthetics and barrier properties, leading to robust evolution of the market.
Global Plastic Packaging Market: Trends
The global plastic packaging market is primarily driven by the surge in demand from the expanding food and beverages industry. The rising demand of flexible packaging from the pharmaceutical industry is also expected to boost the global plastic packaging market. Furthermore, changes in lifestyle in emerging nations have spurred the demand for plastic packaging such as sachets, pouches, and containers. The demand for flexible plastic packaging is gaining traction across various regions due to its high tensile strength and barrier protection ability. Recent advancements in materials sciences and manufacturing technology have led to the production of advanced plastic packaging with high tensile strength and remarkable toughness.
However, various price control measures on petrochemical raw materials and the price volatility in crude oil are are likely to impede the growth of the plastics packaging market to an extent. Nevertheless, to overcome this market challenge, manufacturers are opting for several viable alternatives in bioplastics.
Global Plastic Packaging Market: Market Potential
As market interest in plastics packaging sector has intensified over the past few years, companies are aggressively pursuing mergers and acquisitions. The market outlook seems exuberant with several investors recognizing the stability of the packaging industry. Leading players are exploring lucrative avenues in resin-based packaging. They find returns on investment in terms of cost reduction in raw material purchases, sales process consolidation, significant overhead reductions, and other similar competitive benefits. These developments are expected to expand the potential of the plastic packaging market along the forecast period.
A large number of deals are motivated by strategic benefits; currently the players are shying away from launching initial public offering to expand their product portfolio owing to the risks involved.
Another area which manufacturers are focusing on is recyclable plastics packaging, especially for packaging foods and beverages. Constant efforts by policy makers to broaden the regulations for plastic packaging, especially in Europe and Asia Pacific have resulted in technology advancement in the manufacturing of plastics packaging.
Global Plastic Packaging Market: Regional Outlook
Asia Pacific market offers ample opportunities to the manufacturers and vendors of plastics packaging. The tremendous growth in the regional market is propelled by the extensive demand for plastics packaging products from the food and beverages industry. In addition, the significant pace of industrialization in developed and developing countries of Asia Pacific and the trend of flexible packaging gaining popularity among various end-use industries are expected to fuel the regional market.
The market has somewhat witnessed a slowdown in the developed nations of North America and Europe. Rising concerns about the disposal of plastics and the alternative methods of packaging that are more environment-friendly have adversely affected the regional market.
Global Plastic Packaging Market: Competitive Landscape
Leading players are making mergers and acquisition and investing in advancement in manufacturing processes to launch high-performing plastics packaging products. Major players operating in the global plastic packaging market include Constantia Flexibles International GmbH, Bemis Company, Inc., Huhtamaki Oyj, Mondi Plc, Sealed Air Corporation, Ampac Holdings LLC, Ukrplastic Corporation, Amcor Ltd., Wipak Group, and Sonoco Products Company.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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