Market Definition: Plastic Packaging Market
The Global Plastic Packaging Market accounted to USD 100.2 billion in 2016 growing at a CAGR of 6.0% during the forecast period of 2019 to 2026.
Plastics provide a tougher, cleaner, and more attractive form of packaging, mainly for the food and beverage industry; hence, it generates a quick rate of growth in demand across the world. The demand for the plastic has increased due to high products available in the plastic bags, and sachets, as well as the more conventional rigid packaging methods.
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Key Market Competitors: Plastic Packaging Market
Few of the major competitors are Amcor Limited, Novolex – Carlyle Group, Bischof + Klein SE & Co. Kg, RPC BPI Group, Proampac, Britton Group Limited, Gascogne Flexible, Graphic Packaging Holding Company, Swiss PAC, Sonoco Products Company, Printpack, Inc., Wihuri Oyj, Sigma Plastics Group, American Packaging Corporation, Om Printing & Flexible Packaging Pvt. Ltd., COVERIS, HUHTAMAKI GROUP, Glenroy, Inc., Cosmo Films Limited among others.
The report performs the study of market drivers and market restraints thoroughly along with the analysis of the market structure. This market report endows with the plentiful insights and business solutions that will help to stay ahead of the competition. A class and transparency is strictly maintained while carrying out research studies of this report to offer an exceptional market research report for a specific niche. Businesses can achieve better insights to drive the business into right direction with the different segments covered in the market research report. This market analysis examines various segments which help for the quickest development amid the estimated forecast frame.
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Major Market Drivers & Restraints are as follows:
- Cheaper & Improved Shelf-Life of the Product
- Increasing Demand From End Users
- Developments in Global Manufacturing Activities
- Stringent Regulations
- Recent Technologies
Market Segmentation: Plastic Packaging Market
By product the global plastic packaging market is segmented into rigid packaging, and flexible packaging.
On the basis of application the global plastic packaging market is segmented into food & beverages, industrial, household products, personal care, medical, and others.
On the basis of end-user the global plastic packaging market is segmented into food industry, commercial, and residential, and hospitals & clinics.
On the basis of geography, global plastic packaging market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
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The global plastic packaging market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of plastic packaging market for global, Europe, North America, Asia Pacific and South America.
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