Plastic Packaging Market value of around US$ 375.6 billion by 2027

United States, New York, 2023-Feb-16 — /EPR Network/ —Global Plastic Packaging Market: by Product Type (Bottles & Jars, Cups & Bowls, Wraps & Films, Bags & Pouches, and Others), by Material Type (Polypropylene, Polyethylene, Poly Vinyl Chloride, Polystyrene, Bioplastic, Polyethylene Terephthalate, and Others), by End-User (Food & Beverages, Pharmaceuticals, Cosmetics, and Personal Care, Industrial Packaging, and Others), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2021–2027)

The plastic packaging market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The report’s study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the plastic packaging industry.

Plastic Packaging Industry Outlook

The global plastic packaging market size was valued at USD 258.9 billion in 2020, which is expected to reach USD 375.6 billion by 2027, registering a CAGR of 4.3% during the forecast period (2021-2027). The market for plastic packaging market is driven by food & beverages and healthcare industries across the globe. The demand for plastic packaging has augmented in the recent past, owing to the change in consumer’s lifestyles, choices, and preferences with rapid urbanization. The rising demand for convenience processed and packaged foods have resulted in the increasing use of plastic packaging in food & beverage industries across the globe.

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Factors Affecting the Plastic Packaging Market Over the Forecast Period:

With the emerging e-commerce industry, the preference for lightweight and flexible packaging is increasing, owing to its affordability for the consumers.

With issues related to the impacts of plastic on the environment, changing consumer needs, preferences, and increasing demand for eco-friendly packaging, the plastic packaging industry is improving and incorporating the changes that are beneficial to all segments.

Due to the urbanization and the improved lifestyle of people in emerging economies, the demand for personal care products with attractive plastic packaging is expected to increase during the forecast period.

The price volatility in raw materials and the rising ban on single-use plastic across the globe are certain factors restraining the growth of the plastic packaging market.

Impact of COVID-19 on Plastic Packaging Market:

The outbreak of the COVID-19 pandemic has dramatically affected the growth of the plastic packaging market. Post the imposition of lockdown across various nations, the supply and demand for essential products have increased considerably. The stock up of essential items increased, and the online delivery of products increased exponentially. This, in turn, led to the growth in the demand for plastic packaging in the delivery of goods at the doorstep. Moreover, the supply of medical items and personal protective equipment increased across the globe, which has escalated the demand for plastic packaging. Therefore, considerable growth in the plastic packaging market can be expected in 2020, considering the impact of the COVID-19 pandemic on the plastic packaging industry.

Scope of the Report

The report outlines the global plastic packaging market study based on product type, material type, and end-user.

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Based on product type, the plastic packaging market is segmented into –

• Bottles & Jars
• Cups & Bowls
• Wraps & Films
• Bags & Pouches
• Others (Pails and Clamshells)

Based on material type, the plastic packaging market is segmented into-

• Polypropylene (PP)
• Polyethylene (PE)
• Poly Vinyl Chloride (PVC)
• Polystyrene (PS)
• Bioplastic
• Polyethylene Terephthalate (PET)
• Others (Polyamide)

Based on end-user, the plastic packaging market is segmented into-

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• Food & Beverages
• Pharmaceuticals
• Cosmetics and Personal Care
• Industrial Packaging
• Others (Electronics)

Plastic Packaging Market: Regional Outlook

The plastic packaging market has been segmented into five geographical regions: North America, Asia Pacific, South America, Europe, the Middle East, and Africa. In 2020, Asia Pacific held the largest share in the global plastic packaging market, followed by Europe. The Asia Pacific is further estimated to dominate the plastic packaging market during the forecast period. Moreover, Europe is expected to project the highest CAGR in the global market over the forecast period.

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Key Global Plastic Packaging Market Competitors Includes –

The plastic packaging market is highly fragmented, with the presence of a large number of small players across the globe. The key plastic packaging market players operating in the global market include–

• Amcor Limited
• Berry Global Inc.
• Double H Plastics
• Greiner Packaging International GmbH
• Groupe Guillin
• Ilip SRL
• Mold-Tek Packaging
• Reynolds Group Holdings
• RPC Group PLC
• Silgan Holdings.

The plastic packaging market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.