Plastic Packaging Market Research | Industry Analysis | Application | Supplier 2016-2020
Plastic Packaging (Rigid Plastic Packaging and Flexible Plastic Packaging) Market for Food & Beverages, Industrial, Household Products, Personal Care, Medical and Other Applications – Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2014 – 2020
Plastic packaging is a type of casing in the form of plastic containers, bags, pouches, and jars to be used for food & beverages, personal care products, household products, and industrial goods. High-density polyethylene (HDPE), low-density polyethylene (LDPE), polyethylene terephthalate (PET), polypropylene (PP), and polyvinyl chloride (PVC) are mainly used in plastic packaging. Plastics can be easily molded or altered into any shape as per the packaging requirement of goods. It is one of the fastest growing segments of the packaging industry. It combines the best qualities of plastic to deliver a wide range of protective properties while using minimum quantity of material. Plastic packaging is broadly used in consumer products, and in industrial applications. It is used to market, protect, and distribute a wide range of products. Technological innovations and changing trends in the packaging industry have led to the growing demand for plastic packaging.
Strong growth of global food and beverage market is mainly driving demand for plastic packaging. Swiftly expanding pharmaceutical and medical industry has been resulted into rapid growth of plastic packaging. Moreover, uperior aesthetic value and excellent barrier properties of plastic against moisture and air are another important factor driving demand for plastic packaging. However, fluctuating prices of raw materials is one of the major challenges for the manufacturers of plactic packaging.
Rigid and flexible are key product types of plastic packaging market. Rigid packaging was most important product segment, which accounted for largest market share in 2014. Rigid packaging is believed to continue this trend due to the increasing demand from pharmaceutical sector. Flexible packaging is also important type of packaging that is expected to have promising market during the forecast period.
Among all applications, food & beverages was the largest application segment for plastic packaging market in 2014. It accounted for over 50% share of the entire volume consumption in 2014. Moreover, pharmaceuticals and medical application is also projected to have growing demand from the end-user application during the years to come.
With over 30% shares in total volume consumption, plastic packaging market was dominated by Asia Pacific in 2014. This region is expected to be the fastest-growing market in near future owing to emerging market in China and India. The second largest share of the plastic packaging market was accounted by North America in the year 2014. However, plastic packaging market in Europe is likely to witness robust growth during the forecast period due to high demand from food packaging industries.
The key players for the plastic packaging market include Amcor Ltd., Crown Holdings Inc., Bemis Company Inc., BASF SE, Huhtamaki Oyj, Mondi, Sealed Air Corporation, Sonoco Products, Saint-Gobain and amongst others.
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