Plastic Packaging Market 2018 Global Industry Size, Share, Trends, Analysis By Major Segments, Regional Overview and Key Manufacturers To 2022
Global Plastic Packaging Market Expected to Cross USD 400 Billion at CAGR of ~5%, 2016-2022. Plastic Packaging Market by Global Industry Analysis, Growth and Opportunity Assessment, Segmentation by Type (Rigid Packaging and Flexible Packaging), Application (Food & Beverages, Industrial, Healthcare, Personal Care, and Others) and Region.
Hadapsar, Pune, India – July 3, 2018 /MarketersMedia/ —
Global Plastic Packaging Market – Overview
The plastic packaging market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of such packaging is influenced by growth in food & beverage industry, pharmaceutical industry, along with increasing disposable income and changing consumer preference. The change in consumer’s lifestyle with rapid urbanization has augmented the demand for plastic packaging. The consumers demand convenience processed and packaged foods which reduce the cooking time. This has resulted in increasing use of plastic packaging in food & beverage industries.
The continuous growth of the food & beverage is fuelling the overall growth of the Plastic Packaging market. Flexible plastic packaging has wide applications in the F&B industry, mainly due to its features such as ease of handling, reduced production & shipment costs, and eco-friendliness. Rise in demand for packaged foods & beverages including ready-to-eat meals, frozen meals, and snack foods.
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Technological advancements in packaging plays a vital role in driving the growth of flexible packaging market. Advanced technology in packaging has allowed companies for innovation in products instead of sticking to traditional methods of packaging. Due to this, many companies are investing in R&D and are coming up with advanced flexible packaging products with barrier resistance properties that offer resistance against heat and moisture and eliminates oxidation of foods. Such properties prove effective in maintaining the quality and consistency of food products while extending their shelf life without the use preservatives.
Key Players
Amcor Ltd, BASF SE, Crown Holdings Inc., Saint-Gobain, Bemis Company Inc., Huhtamaki Oyj, Mondi Group, Sealed Air Corporation, Sonoco Products Company, Constantia Plastics International GmbH, Ampac Holdings LLC and Wipak Group are some of the prominent players at the forefront of competition in the global Plastic Packaging market and are profiled in MRFR Analysis.
Global Plastic Packaging Market – Competitive Analysis
The market is characterized by the presence of several medium and small players. Plastic Packaging appears to be highly competitive and fragmented. International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period.
In 2016, Bemis Company, Inc. announced that it has completed the acquisition of the medical device packaging operations and related value-added services of SteriPack Group, a global manufacturer of sterile packaging solutions for medical device and pharmaceutical applications. This acquisition includes a facility in Ireland as well as packaging production assets in Malaysia and the United States. These operations recorded annual net sales of approximately US$65 million in fiscal 2015. SteriPack Group will continue to independently own and operate its contract manufacturing services business. Details of the transaction were not disclosed.
In May, 2017 Amcor, a global leader in responsible packaging solutions, announced an expansion of its specialty container business in the Latin American region. Plasticos Team S.A.S. (Plasticos Team) has been acquired from Team Foods Colombia S.A. (Team Foods), a leading food producer in Colombia. This acquisition expands Amcor’s specialty container product offering in Latin America with the addition of new capabilities including thin wall injection moulding and in-mould labelling. Amcor currently has three Rigid Plastics packaging plants in Colombia, including one plant in close proximity to Guachene.
In 2017, Berry Global Group, Inc. announced agreement to acquire the Clopay Plastic Products Company, Inc., from Griffon Corporation. Clopay is a global supplier of printed breathable films as well as an innovator in the development of elastic films and laminates with product offerings uniquely designed for applications used in a number of markets including; hygiene, healthcare, construction and industrial protective apparel. The proposed acquisition of Clopay is directly aligned with the company’s fundamental strategic initiatives. The combination of Clopay with Berry’s Health, Hygiene, and Specialties division broadens their position within the faster growing health and hygiene markets. Clopay is expected to bring Berry new capabilities in the production of technical films, where they are a known innovator with patent protected breathable hygiene films.
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Global Plastic Packaging Market – Segments
Global Plastic Packaging Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Type : Comprises – Rigid packaging and Plastic packaging
Segmentation By Application : Comprises – Food & beverages, Industrial, Healthcare, Personal care, and others
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World
Global Plastic Packaging Market – Regional Analysis
Asia-Pacific is expected to show a very high rate of growth in demand for plastic packaging over the coming years, owing to rising disposable incomes and the booming packaged food, and pharmaceutical industry. The plastic packaging market in developing countries such as China and India are estimated to grow at a high rate in the forecast period. China is estimated to grow faster than any other country because of its strong economic growth along with increase in consumption of packaged, and processed food items, increased demand for packaged beverages and rapid urbanization.
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