Industry Background:
Plastic packaging means all plastic-containing materials which can be used for the protection, handling, delivery, and presentation of other products, from raw materials to processed goods, from the producer to the user or the consumer. Packaging is a technology used to seal and protect various types of products for storage, distribution, sale, and use. Plastic packaging materials made from petroleum and its derivatives are widely used in various end-use industries. Plastic containers are fetching important in the beverage, food, pharmaceutical industries, and cosmetics. Plastic packaging is common in multiple segments, beverages, cosmetics, sanitary products, and detergents. New technologies and the development of heat-resistant packaging material opened up new possibilities and options in the market.This growth is primarily driven by Technological advancement in the packaging sector leads to lower packaging cost
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Paper Packaging sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Berry Global, Inc. (United States), Sealed Air Corporation (United States), Coveris (United Kingdom), Sonoco Products Company (United States), CCL Industries Inc. (Canada), Alpla (Austria), Amcor plc (Australia), Constantia Flexibles (Austria), Mondi plc (United Kingdom) and Plastipak Packaging, Inc. (Michigan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In December 2022, Wessex Packaging acquired Surepack, a major UK independent distributor of pallet film. Surepack is a leading distributor of packaging products, packaging materials, specialist bags, plastic films, and more. and In September 2022, CCL Industries Acquired Innovia Films, Innovia Films is a major producer of highly differentiated specialty Biaxially Oriented Polypropylene (BOPP), Bubble and Tenter technologies, and Cast Polypropylene (CPP) films. The company holds a leading global position in the markets for high-performance coated films, tobacco overwrap, graphic media solutions, and label and security films.
In January 2022 - Novolex introduces innovative, recyclable trays for meat, fish, and poultry products. The container is called piranh. It is sealed by a series of raised teeth surrounding the sealing flange, rather than applying a layer of polyethylene or adhesive normally used to seal modified atmosphere pack (MAP) caps. and In March 2022 - Berry Global Inc. partnered with Koa to launch body wash and body lotion bottles made from 100% recycled plastic. As an industry leader in sustainability, Berry has a strong focus on making a positive environmental impact through streamlined operations, continuously engaged partners, and optimized products, a vision shared by Koa. Koa chose Berry as the supplier for this project because of its shared vision for sustainability in packaging.The Global Plastic Packaging Market is fragmented because of the presence of many players running their businesses within national and international boundaries. Players are focusing on the development of Packaging technology. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Influencing Trend:
Developing rigid plastic packaging in food industries and Growing Demand for Recycled Packaging
Market Growth Drivers:
Technological advancement in the packaging sector leads to lower packaging cost, High-density polyethylene (HDPE) is largely used in industries such as the chemical and cosmetics industries and Rising demand for PET (polyethylene terephthalate) bottles in salad dressing, oil, household cleaners
Challenges:
Environmental Issues due to Plastic Use and Growing Awareness of People about Eco-Friendly Material
Restraints:
Growing inclination toward a sustainable environment will restrict the global plastic packaging market and Stringent regulations imposed by governments regarding Plastic usage
Opportunities:
Rising demand for the bio-based Plastic packaging material and Sustainable and new plastic-like flexible plastic packaging solutions
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Plastic Packaging Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Plastic Packaging Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Plastic Packaging players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Plastic Packaging Study Sheds Light on
The Plastic Packaging Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Plastic Packaging industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Plastic Packaging industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.