Global Plastic Packaging Market Size By Product Type, By Product Outlook, By Application, By Geographic Scope And Forecast
Plastic Packaging Market Size And Forecast
Plastic Packaging Market was valued at USD 1,071 Million in 2019 and is projected to reach USD 1,704.2 Million by 2027, growing at a CAGR of 6% from 2020 to 2027.
Plastic Packaging Market Outlook
Food and beverage is one of the fastest-growing industries globally, owing to the changing lifestyles, and consumer preference for eating ready-to-eat, on-the-go, frozen foods, and processed foods. The development of the food industry in developing economies of Asia Pacific is expected to drive the demand for plastic packaging globally. The rising introduction of innovative packaging solutions such as modified atmosphere, active, edible, and bioplastic packaging is also expected to open newer avenues in the coming years. However, increasing fluctuating prices of crude oil, which is the principal raw material for plastic packaging, has been considerably affecting the profit margin of manufacturers and thus preventing the market growth. Besides, the growing ban on single-use plastic packaging across the world and rising sustainable awareness among consumers is also likely to act as market restraint over the forecast period.
Plastic Packaging Market Competitive Landscape
The Global Plastic Packaging Market study report will provide a valuable insight with an emphasis on global market including some of the major players such Amcor Plc, Sealed Air Corporation, Coveris Holdings S.A, IMMER UkrPlastic, Ampac Holding, Wipak Group, and Flextrus AB.
Global Plastic Packaging Market Segmentation Analysis
The Global Plastic Packaging Market is Segmented into Product Type, Product Outlook,Application, And Geography.
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