The global plastic packaging market is growing at a modest CAGR of around 3.5% during the forecast period (2020-2026). Plastics are the material of choice in packaging across every sector, from food & beverage to pharmaceutical industry. As compared to the other available packaging materials, the plastic packaging most preferred in the packaging industry since ages. The demand for plastic packaging is further expected to see a modest growth due to the rising industrialization in emerging economies, such as China and India. The ‘Made in China 2025’ and ‘Make in India’ are offering growth to the industrial sector of these economies, providing a path for the food processing companies and pharmaceutical companies to excel their capabilities.
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Moreover, there are several other pivotal factors that are driving the global plastic packaging market, which includes the rising e-commerce sector and demand for convenience or packaged food products. As per OMR analysis, the e-commerce logistics market is expected to get doubled by 2025. Therefore, the demand for plastic packaging will be driven by the growing e-commerce sector across the globe. Moreover, the demand for bioplastics is expected to project a noteworthy growth during the forecast period. The use of bio-plastic or biodegradable plastic is increasing, as they are made from renewable resources and enable to reduce CO2 emission. However, the fluctuation in crude oil prices and increasing awareness for the minimal usage of plastics due to its harmful impact on environment will affect the market growth during the forecast period.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Plastic packaging Market-Segmentation
By Type
- Flexible Packaging
- Rigid Packaging
By Technology
- Recyclable
- Reusable
- Biodegradable
By Vertical
- Food & Beverages
- Personal Care
- Healthcare
- Others (Industrial)
Global Plastic packaging Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global plastic packaging market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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