The global plastic packaging market is projected to reach $207.8 billion by 2027, at a CAGR of 3.4% during 2021-2027. The growth of plastic packaging market is driven by increasing per capita income, growing consumption of packaged consumer goods, such as beverages and processed foods, growth in pharmaceutical and personal care industry and increasing demand for flexible, transparent, lightweight, cost-effective, and higher product shelf life packaging materials.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the plastic packaging market by product
type (rigid and flexible) and end use industry (food & beverages, industrial,
pharmaceuticals, personal & household care, and others), and region (North
America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the plastic packaging market?
Q.4 What are some
changing demands of customers in the plastic packaging market?
Q.5 What are the new
developments in the plastic packaging market? Which companies are leading these
developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this plastic packaging area and how big
of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this plastic packaging market?
Emerging trends, which have a direct impact on the dynamics of the industry, include shift of plastic packaging towards bio-based products.
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Market Segmentation:
Based on end use
industry, the plastic packaging market is segmented into food & beverages,
industrial, pharmaceuticals, personal & household care, and others. The
food and beverage segment accounted for the largest share of the market in 2021
and is expected to register the highest CAGR during the forecast period, due to
changing consumer lifestyle and foods, increasing consumption of alcoholic and
non-alcoholic products, and rising spending level.
Asia Pacific is expected
to remain the largest region over the forecast period due to stringent
regulations regarding the use of plastic products coupled with rising consumer
awareness about sustainability and rapidly growing application industries in
China, India, South Korea, and other APAC countries.
Key Players in the
plastic packaging market are Amcor, Bemis, Sealed Air Corporation, Berry
Plastics Group, AptarGroup.
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The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
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https://www.lucintel.com/plastic-packaging-market.aspx
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon
Fitzgerald
Lucintel
Dallas,
Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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