The global plastic packaging market size is projected to reach USD 320.94 billion by 2027, registering a revenue-based CAGR of 4.0% over the forecast period, according to a new report published by Grand View Research, Inc. The market is majorly driven by the growing demand for plastic packaging from the food and beverage and industrial packaging industry. The demand for new houses, cars, and apartments is expected to grow with the rise in the disposable incomes in countries such as U.S, India, and China.
Rapid industrialization coupled with increasing employment opportunities is expected to result in expansion of cities, particularly in emerging economies such as China, India, and the countries from South East Asia. Lack of time and increasing purchasing power of consumers has also resulted in driving the demand for packaged foods and the trend is expected to continue over the forecast period.
Moreover, well-known companies such as McCain, ConAgra, and Unilever have been developing their presence in the global market by making their products readily available in small retail stores as well as hypermarkets. These factors together are expected to drive the demand for packaged food. The positive outlook for the packaged food market is expected to have a positive impact on the demand for safe and effective plastic food packaging product demand.
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Innovation in the pharmaceutical industry is primarily driven by progress in the field of medicine. This industry acts as a key asset to the European economy as it is one of the country’s top performing high technology sectors. This in turn is expected to fuel plastic packaging demand in Europe over the forecast period. However, the pharmaceutical industry faces challenges such as additional regulatory hurdle and escalating R&D costs. These factors are expected to restrain the market which may in turn have a negative impact on the flexible packaging market over the forecast period.
Further key findings from the report suggest:
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Grand View Research has segmented the global plastic packaging market on the basis of type, product, application, and region:
Plastic Packaging Type Outlook (Volume, Kilotons; Revenue, USD Billion, 2016 – 2027)
Plastic Packaging Product Outlook (Volume, Kilotons; Revenue, USD Billion, 2016 – 2027)
Plastic Packaging Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2016 – 2027)
Plastic Packaging Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2016 – 2027)
Key Topics Covered
Table of Content
Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Types & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization 1.6. Data Validation & Publishing Chapter 2. Executive Summary 2.1. Market Outlook 2.2. Segmental Outlook 2.3. Competitive Insights Chapter 3. Plastic packaging market Variables, Trends, & Scope 3.1. Market Lineage Market 3.1.1. Parent Market Outlook 3.1.2. Related Market Outlook 3.2. Penetration & Growth Prospect Mapping 3.3. Industry Value Chain Analysis 3.3.1. Major Raw Material Trends
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Browse Related Reports: Food Packaging Market By Type (Rigid, Flexible), By Material (Paper, Plastic), By Application (Bakery and Confectionery, Dairy Products), By Region, And Segment Forecasts, 2020 – 2027:
https://www.grandviewresearch.com/industry-analysis/food-packaging-market
Pharmaceutical Packaging Market By Material (Plastics & Polymers, Paper & Paperboard, Glass), By Product, By End Use, And Segment Forecasts, 2020 – 2027:
https://www.grandviewresearch.com/industry-analysis/pharmaceutical-packaging-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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