Global Plastic Packaging Market Size was valued nearly USD 185 billion by 2017 and is estimated to reach up to USD xx.xx billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 3.50% during the forecast period, i.e. 2017-2025. Plastic packaging is one of the most traditional and significant packaging solution preferred across the globe from past few decades. It protects food and other products from damaging. It allows us to protect, preserve, store and transport the products in various ways.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global plastic packaging market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. 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 global plastic packaging market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.   

Market Dynamics

The global plastic packaging market was valued at around USD 185 billion in the year 2017, and it is anticipated grow at CAGR of 3.50% during the assessment period of 2017-2025. The overall application scope of plastic packaging covers applications such as food & beverages, pharmaceutical & healthcare, personal care & cosmetics, consumer goods, homecare and others. Some of the primary growth drivers in this market includes rapid changes in the lifestyle and resulting demand of ready to eat and packaged food, and rise in demand for processed and frozen food. Among all the packaging materials such as glass, metal, and paperboards; plastic is one the cheapest packaging material. This factor itself drives the adoption of plastic packaging martial across the globe thereby contributing in the market growth.

Plastic packaging material offers superior properties such as moisture resistance, excellent thermal resistance, better chemical and mechanical properties and high strength to weight ration that sets to its enhanced consumption among other packaging material. In addition to this, PET bottles are largely preferred in the water packaging. In 2017, over 490 billion bottles were produced to cater water packaging demand due to the expansion of retail and FMCG industry, and growing disposable income of majority of middle class population. Driven by these factors, the growth of plastic packaging market is restrained by stringent environmental regulation on plastic packaging material. Nevertheless, convenience associated with plastic packaging anticipated to offer lucrative growth opportunities to this market during the forecast period.

Segment Analysis 

Based on type, the plastic packaging market is segmented into rigid plastic packaging and flexible plastic packaging. On the basis of product, market is segmented into bottles & jars, pouches, bags, wraps, cans, and others. Market segmentation based on the material includes polyethylene, polypropylene, PVC, PET, polystyrene, and others. Based on the applications market segmented into food & beverages, pharmaceutical& healthcare, personal care, homecare and others. Food and beverages is the dominant application segment for plastic packaging due to high demand for ready to eat food, drastic demand for bottled water, and significant alcohol consumption. On the other hand, cosmetic and personal care segment anticipated to grow at highest growth rate during the forecast period.  

 Regional Analysis

The global plastic packaging market is expected to dominate by Asia-pacific due to drastic demographic changes. High growth in population linked with economic growth in the countries such as India and China, rising disposable for middle class population, growth in the adoption of packaged food are some of the prominent growth drivers in this region. China is the prominent manufacturer of PVC, PET, polypropylene and polyethylene which plays and additional advantage in the production plastic packaging products. Apart from this, PET recycling rate is higher in the China and India which further surging demand for PET bottles at cheaper rate in the water packaging. Due this factor Asia-pacific projected to continue its dominance during the forecast period.

Global Plastic Packaging Market Size, Share Analysis By Region 2017

North America is the traditional market wherein trend for packaged food is observed form longer time. This influenced the adoption of plastic material in the overall packaging solution. The region is known for packaging innovation wherein high number products are innovated by leading market players. Considering this, North America region expected to grow at highest CAGR during the forecast period.

Key Players

Major players analyzed and profiled in the global Plastic Packaging market include Coveris Holdings S.A.; and Bemis Company, Inc., as well as medium and small regional players such as IMMER Ukrplastic, Ampac Holding, Wipak Group, and Flextrus AB

Global Plastic Packaging Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.