Plastic Packaging Market Size, Segments, Share, Analysis and Future Forecast To 2022
Competitive Landscape
The top market players identified by MRFR in the global market are Amcor Ltd, Crown Holdings Inc., BASF SE, Saint-Gobain, Huhtamaki Oyj, Bemis Company Inc., Mondi Group, Sealed Air Corporation, Constantia Flexibles International GmbH, Sonoco Products Company, Ampac Holdings LLC and Wipak Group.
Market Segmentation
The global market for plastic packaging is segmented on the basis of type and application. The type segment consists of products including rigid packaging and flexible packaging.
Rigid packaging is expected to generate the largest share of the revenue. End-users favor rigid packaging the most. The rise of rigid plastic market into the beverage sector is based on the expectancy of it being of hygienic, high quality, and healthy. The retail industry is also expected to boost the growth of this segment during the forecast period.
Application-wise segmentation comprises food & beverages, healthcare, industrial, personal care and others. Among these, the food & beverage sector has recorded the highest percentage of the global revenue in 2015 and anticipated to surge further over the review period. With rapid development, the demand for packaged food is also growing. This alteration in consumer habits has spurred growth in the global market. Rapid growth in the pharmaceutical industry can support the growth rate of healthcare plastic segment in the near future.
Regional Overview
The geographical overview global Plastic Packaging Market Size has been conducted in four major regions, namely the Asia Pacific, Europe, North America, and the rest of the world (including Latin America and the Middle East and Africa).
APAC leads the global Plastic Packaging Market Size, with its fast-growing market worldwide. Over 35% of overall volume consumption in 2015 was valued for the APAC region. The region is likely to show some rapid expansion in healthcare and food & beverage industries along with augmented investment in the same. This would result in a growing share of APAC in the global Plastic Packaging Market Size, by 2022.
However, North America had the prime Plastic Packaging Market Size, size in 2015 and is estimated to show stable growth by 2022. Europe and the Rest of the World are also anticipated to grow from 2016 to 2022. The European food and beverage industry is projected to show some staggering growth which is likely to bolster the Plastic Packaging Market Size, by 2022.
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