According to IMARC Group’s latest report, titled “Plastic Packaging Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global plastic packaging market is expected to exhibit a CAGR of 4.67% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Plastic packaging is a flexible packaging solution utilized for protecting, handling, storing, and transporting a wide range of products. It is manufactured using polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), polyethylene terephthalate (PET), and expanded polystyrene (EPS) materials. It provides enhanced durability, versatility, lightweight, tensile strength, sustainability, and cost-effectiveness. As a result, plastic packaging materials are gaining immense traction across the globe.
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The increasing working population and hectic work schedules of individuals are catalyzing the demand for ready-to-eat (RTE) and processed edible products, which, in turn, is positively influencing the market. In addition, the rising trend of online food ordering is escalating the demand for flexible plastic packaging solutions. Apart from this, various product innovations, such as the development of environment-friendly and sustainable packaging solutions that help reduce toxic waste and conserve natural resources, are stimulating market growth. Furthermore, the widespread adoption of plastic packaging in cosmetic and personal hygiene products to increase the shelf life of packed materials and prevent damage during transit is offering lucrative growth opportunities to manufacturers.
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The report has segmented the market on the basis of material, product, end use industry and region.
Breakup by Material:
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polystyrene (PS) and Expanded Polystyrene (EPS)
- Polyvinyl Chloride (PVC)
Breakup by Product:
- Bottles and Jars
- Trays and Containers
Breakup by End Use Industry:
- Food and Beverages
- Cosmetics and Personal Care
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being ALPLA-Werke Alwin Lehner GmbH & Co. KG, Amcor plc, Anchor Packaging LLC, Berry Global Inc., DS Smith plc, Honeywell International Inc., Huhtamäki Oyj, Mondi plc, Printpack, Sealed Air Corporation, Sonoco Products Company and Winpak Ltd.
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