IMARC Group, a leading market research company, has recently releases report titled “Plastic Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global plastic packaging market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the plastic packaging market?
Report Attributes
Details
Growth rate (2023 to 2028)
CAGR of 4.1%
Base Year of the Analysis
2022
Forecast Period
2023-2028
What is plastic packaging?
Plastic packaging is a flexible packaging solution utilized for protecting, handling, storing, and transporting a wide range of products. It is manufactured using polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), polyethylene terephthalate (PET), and expanded polystyrene (EPS) materials. It provides enhanced durability, versatility, lightweight, tensile strength, sustainability, and cost-effectiveness. As a result, plastic packaging materials are gaining immense traction across the globe.
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What are the growth prospects and trends in the plastic packaging industry?
The increasing working population and hectic work schedules of individuals are catalyzing the demand for ready-to-eat (RTE) and processed edible products, which, in turn, is positively influencing the market. In addition, the rising trend of online food ordering is escalating the demand for flexible plastic packaging solutions. Apart from this, various product innovations, such as the development of environment-friendly and sustainable packaging solutions that help reduce toxic waste and conserve natural resources, are stimulating market growth. Furthermore, the widespread adoption of plastic packaging in cosmetic and personal hygiene products to increase the shelf life of packed materials and prevent damage during transit is offering lucrative growth opportunities to manufacturers.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Material:
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polystyrene (PS) and Expanded Polystyrene (EPS)
- Polyvinyl Chloride (PVC)
- Others
Breakup by Product:
- Bottles and Jars
- Trays and Containers
- Others
Breakup by End Use Industry:
- Food and Beverages
- Healthcare
- Cosmetics and Personal Care
- Others
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- ALPLA-Werke Alwin Lehner GmbH & Co. KG
- Amcor plc
- Anchor Packaging LLC
- Berry Global Inc.
- DS Smith plc
- Honeywell International Inc.
- Huhtamäki Oyj
- Mondi plc
- Printpack
- Sealed Air Corporation
- Sonoco Products Company
- Winpak Ltd.
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