Plastic Packaging Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027

The global plastic packaging market size is expected to reach USD 320.94 billion by 2027, registering a revenue-based CAGR of 4.1% over the forecast period 2020 to 2027.

Growing packaged food and beverage industry owing to changing lifestyle and increasing penetration of organize retail is principally expanding the product application scope.

Food and beverage is one of the fastest-growing industries globally, owing to the changing lifestyles, and consumer preference for eating on-the-go, ready-to-eat, frozen foods, and processed foods. The growth of the food industry in developing economies of Asia Pacific is expected to drive the demand for plastic packaging globally.

The study has considered the base year as 2019, which estimates the market size of market and the forecast period is 2020 to 2027. The report analyzes and forecasts the market size, in terms of volume (thousand units) and value (USD million), for the market. The report provides a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges). The report covers key players and comprehensively analyzes their market shares and core competencies. It also tracks and analyzes competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants.

Type Insights

On the basis of type, the market has been segmented into rigid and flexible. The rigid segment is expected to witness steady growth over the forecast period on account of its increasing usage in industrial applications. Use of rigid plastic bottles and canisters for packing, storage, and transportation of chemicals and gaseous Products is expected to drive segment growth over the next few years.

Plastic are being increasingly used for flexible packaging solutions owing to easy disposal, light weight, and consumer convenience. The flexible segment was valued at USD 154.6 billion in 2019 and is expected to witness significant growth over the forecast period. This growth can be attributed to rapidly increasing demand for flexible packing solutions in food and beverage, personal care, and household care applications.

Flexible packaging offer higher convenience to consumers and also occupies lower retail space thereby emerging as popular packaging type. Furthermore, flexible packages also assist in reducing food wastage. For instance, fruits packaged in flexible packaging lowers the ripening effect and thereby extend the shelf life. Therefore, fresh produce manufacturer are majorly opting for the flexible packaging across the globe.

Product Insights

On the basis of product, the plastic packaging market has been segmented into bottles, plastic, wraps and films, bags, pouches, and others. These products cater to the requirements of various end-use industries, including food and beverages, personal care, household care, consumer electronics, construction, and chemicals. Bottles formed the largest segment in 2019 in terms of revenue, followed by bags and wraps and films.

Plastic bags are the most widely used packaging solutions by various end-use verticals; however, the product segment is expected to witness slow growth owing to rising environmental concerns regarding usage and disposal of such bags. Several environmental threats concerning their disposal in deep water bodies are likely to hamper segment growth in the coming years.

Wraps and films is expected to be the fastest growing product segment in the plastic packaging market. The segment is expected to witness significant growth over the next few years owing to increasing use of protective wraps and films for packaged foods, frozen foods, and ready-to-eat food applications.

Application Insights

On the basis of application, the market has been segmented into food and beverages, industrial packaging, and personal and household care. The food and beverages segment accounted for a revenue share of over 51.1% in 2019 and is expected to witness substantial growth during the forecast period. Growing demand for packaged foods owing to change in consumer lifestyle has driven segment growth in recent years and the trend is expected to continue over the forecast period. In addition, growth of the beverages industry, led by product categories such as liquor and energy drinks, has resulted in increased demand.

To prevent waterborne diseases consumers are increasingly preferring packaged water bottle across the world. In addition, single serve consumer packaging has been witnessing significant growth from the past few years owing to its convenience. Therefore, the rising consumption of packed bottle coupled with growing demand for single serve packaging is likely to expand food and beverage application segment further.

The personal and household care application segment is expected to witness a CAGR of over 4.6% in terms of revenue over the forecast period, in terms of revenue. Personal care packaging includes that of products such as cosmetics and toiletries. This industry has witnessed tremendous growth over the past few years owing to rising consumer awareness toward grooming and hygiene. Growing awareness about health and wellness in developing countries is also expected to play a key role in segment growth over the forecast period.

Regional Insights

As of 2019, Asia Pacific dominated the global market, in terms of revenue, with a share of just over 44.6%. Rapidly-growing end-use industries in key economies, such as China, India, Vietnam, South Korea, and Thailand are expected to drive the regional demand over the forecast period.

China dominated the Asia Pacific market in terms of both demand and production. Presence of large consumer base and expanding food and beverages, personal care, automotive, consumer electronics, and construction industries in the country are anticipated to act as key drivers for the growth of the market over the forecast period.

Changing lifestyles and consumer preferences in terms of food are expected to propel the growth of the food and beverages industry in North America, most notably for products that are ready-to-eat, thus influencing demand in the region. In addition, introduction of new products by end-use vendors is expected to further positively impact demand in North America.

Key players mainly undertake acquisition strategy to expand their product portfolio along with geographical footprints. In June 2019, Australia based Amcor Plc acquired the U.S. based flexible packaging manufacturer Bemis Company Inc. The acquisition was aimed to strengthen former’s scale, capabilities and footprint across the world.

Segmentation

• Type Outlook (Volume, Kilotons; Revenue, USD Billion, 2016 - 2027)

  • Rigid

  • Flexible

• Product Outlook (Volume, Kilotons; Revenue, USD Billion, 2016 - 2027)

  • Bottles

  • Cans

  • Wraps & Films

  • Bags

  • Pouches

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2016 - 2027)

  • Food & Beverages

  • Industrial Packaging

  • Pharmaceuticals

  • Personal & Household Care

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2016 - 2027)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa

The Plastic Packaging market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Plastic Packaging market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Plastic Packaging market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Plastic Packaging market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Plastic Packaging market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Plastic Packaging capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Plastic Packaging by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Plastic Packaging market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Plastic Packaging market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Plastic Packaging market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Plastic Packaging industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Plastic Packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Plastic Packaging market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Plastic Packaging market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Plastic Packaging market. These factors have benefited the growth of the global market for Plastic Packaging. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Plastic Packaging. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Plastic Packaging are as follows:

• History Year: 2016-2019
• Base Year: 2019
• Estimated Year: 2020
• Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.