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Plastics are organic compounds with high molecular weight, which consists of a large range of synthetic organic compounds which can be molded into various shapes, due to malleability. Whereas, packaging is a technology, which involves enclosing and protecting various types of products for storage, distribution, sale and use. Plastic packaging materials are prepared from petroleum and its derivatives, which finds wide application areas in various end use industries. Polyethylene terephthalate (PET), is used as the primary feedstock in the manufacture of plastic bottles, which finds large application in food & beverages, pharmaceuticals and cosmetics industry due to its high durability, light weight, low cost and recyclability properties. However, stringent government regulations for petroleum and chemicals industry due to release of large amount of CO2 and greenhouse gases coupled with crude oil price fluctuation are expected to hinder the market for global plastic packaging.Request a sample pdf Copy of report@ https://www.coherentmarketinsights.com/insight/request-sample/394
PET are largely used in the manufacturing of various types of packaging due to favorable government regulations, for the use of recycled PET products in food & beverages, since it does not react with any food or beverages and offer large resistance towards microorganisms. Also, recycling of PET will subsequently decrease the amount of waste, which generates from the use of various plastic water bottles and carbonated soft drinks. For instance--- in December 1992, U.S. Food and Drug Administration announced, the use of recycled PET bottle are safe from any kind of microbial contamination and reaction with the food or beverages. The growing food & beverages industry across the globe is propelling the market for plastic packaging, due to increasing consumer preference for convenience food in North America and Europe followed by Asia Pacific respectively. According to Coherent Market Insights, the market for plastic packaging is rising at a CAGR of 5.3% in terms of revenue during 2017-2025.
Market Dynamics
Asia Pacific dominated the market in 2016 and the trend is expected to remain the same during 2017-2025. The increasing demand for rigid packaging in various end-use industries such as food & beverages, personal care and pharmaceuticals due to low production cost of plastic packaging in China and India over following years is the major driving force to position Asia-Pacific as the largest and fastest-growing region in the global plastic packaging market. Moreover, Latin America market is expected to experience a second highest CAGR of 5.5% in terms of volume, during the forecast period The increasing preference of food & beverages industry towards the use of polyethylene terephthalate due to the considerable cost reductions, light weight, low operational costs, excellent performance and other benefits offered by these products fuels growth of the plastic packaging market.
Market Taxonomy
This report segments the global plastic packaging market on the basis of product types and application. On the basis of product types, the market is segmented as rigid packaging and flexible packaging. On the basis of end use industry, the global plastic packaging market is segmented into food & beverages, industrial, household products, personal care, medical, others. Moreover, rigid packaging is the largest product segment, accounting for over 61.9% share of the global plastic packaging market in 2016, while, flexible packaging is projected to witness a significant growth in the product segment and is expected to grow at a CAGR of 4.7% in terms of volume during the forecasted period.
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Key features of the study:
This report provides in-depth analysis of the global plastic packaging market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR) (%) for the forecast period (2017 – 2025), considering 2016 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides valuable insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
The report takes into account the various types of plastic packaging involved in manufacturing different types of rigid and flexible packaging, analyzing the market value and growth (%) during the forecast period
It includes insights on the largest technology used to manufacture different types of Plastic Packaging across the globe
It profiles leading players in the global plastic packaging market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies and future plans
Key companies covered as a part of this study include Amcor Ltd., Sealed Air Corporation, Bemis Company, Sonoco Products Company, Mondi Plc., Tray Pack Corporation, Lacerta Group Inc., Bemis Company Inc., Alwin Lehner GmbH & Co. Kg, RPC Group Plc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions with respect to their future product launch, technology upgrade, market expansion, and marketing tactics
The global plastic packaging market report caters to various stakeholders in this industry, including investors, raw material manufacturer, product manufacturer, end-users, distributors, new entrants, and financial analysts
Stakeholders would greatly benefit in decision making through the various strategy matrices used in analyzing the plastic packaging market
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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