Global Plastic Packaging Market (2020-2026) - Size, industry, Analysis, Growth, Share, Outlook & COVID-19 IMPACT

Latest 2023 Development of the Global Plastic Packaging Market

Global Plastic Packaging Market is witnessing a growing demand for sustainable packaging solutions, as consumers become more environmentally conscious. This has led to an increased focus on the development of biodegradable and compostable plastics. Additionally, the plastic packaging industry is also witnessing a shift towards recycling. Governments around the world are implementing regulations and policies to promote the use of recycled materials in packaging, which has led to an increase in the adoption of recycled plastics in the industry. Further, several companies in the plastic packaging industry are investing heavily in research and development to develop new and innovative packaging solutions. This includes the development of new materials and technologies that can improve the performance and sustainability of plastic packaging.

The Global Plastic Packaging industry is also witnessing the increasing use of smart packaging in the industry. Smart packaging is designed to interact with consumers and provide information about the product, such as its freshness and quality. Additionally, the growth of e-commerce has also had a significant impact on the plastic packaging market. As more consumers shop online, there is a growing demand for packaging that can protect products during shipping and handling. Moreover, with the busy lifestyles of modern consumers, there is a growing demand for packaging that is easy to use and convenient. Plastic packaging is lightweight, durable, and easy to transport, making it an ideal choice for a wide range of products. In addition, consumers are becoming increasingly aware of the environmental impact of plastic packaging, and there is growing demand for more sustainable alternatives. As a result, many companies are investing in eco-friendlier materials and packaging solutions to expand their product portfolio and enhance their market share. Further, advancements in technology are driving innovation in the plastic packaging market, allowing for new and improved packaging designs and materials that are more efficient, durable, and cost-effective.

Global Plastic Packaging Market Synopsis

The Global Plastic Packaging market is anticipated to register significant growth over the coming years as a result of being used widely in almost every Application due to its innovative design that helps to deliver packaging solutions. Plastic packaging is used for the protection of delicate goods that are tough to transport and carry. Plastic offers durable performance and cost-effective products. Moreover, the rapidly growing demand for convenient packaging from various industries such as food and beverages and personal care directs the Global Plastic Packaging Market Growth. Urbanization, cost efficiency, and product safety are the major factors for the development of the market. Also growing consumer awareness related to eco-friendly packaging. The plastic Packaging market faces many restraints such as the non-recyclable nature of plastics restricts their usage and acts as a restraint for the growth of the market. Strict government regulations related to packaging and Awareness campaigns for minimizing the usage of plastic set back the market growth. 

According to 6Wresearch, Global Plastic Packaging Market is anticipated to register growth during 2020-2026. Growing awareness regarding packaged food products is driving the Global Plastic Packaging Market Share. Moreover, rising growth in the commercial sector coupled with surging demand for lightweight and flexible packaging is driving the flexible plastic packaging market. The introduction of bioplastic and environmentally friendly plastic is adding to the development of the market.  The global plastic packaging market was hit hard by the COVID-19 pandemic as a result of the shutdown of the packaging Application around the world and the unavailability of employees and labor. The plastic packaging sectors that pack products other than daily essentials and medicines are all shut down as the product requirement has almost become zero.

The key players in the plastic packaging market are Bemis Company, Inc., Amcor plc, Sealed Air, Sonoco Products Company, CCC Packaging, Berry Global Inc., Reynolds Pens, Mondi, COVERS, Huhtamaki, ALPLA, DS Smith, Tetra Laval International S.A., BALL CORPORATION, PROLAMINA PACKAGING.

Market Analysis by Region

The Asia Pacific region holds the largest market for plastic packaging as a result of the emerging economies of India and China. Factors, like increasing consumer expenditure, rising disposable income, and growing population are expected to fuel the demand for consumer goods, which in turn would propel the growth of the plastic packaging market in Asia-Pacific. Moreover, increasing the popularity of beauty and personal care products is also probable to boost the expansion of the market in Europe. Changing lifestyles and consumer preferences in terms of food are expected to the growth of the food and beverages Applications to help in the extension of the plastic packaging market in North America.

Market Analysis by Type

Based on Type, the Rigid segment acquired the largest share in 2020 owing to the usability of the product. 

Key Highlights of The Reports

• Global Plastic Packaging Market Outlook
• Global Plastic Packaging Market Overview
• Global Plastic Packaging Market Forecast
• Historical Data for the period 2016-2019 and Market Forecast of Global Plastic Packaging Market Revenues until 2026
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Product
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Type
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Application
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Regions
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for Latin America Plastic Packaging Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for Europe Plastic Packaging Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for Middle East and Africa Plastic Packaging Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for North America Plastic Packaging Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for Asia Pacific Plastic Packaging Market
• Market Drivers and Restraints
• Global Plastic Packaging Market Trends
• Application Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Global Plastic Packaging Market Share, By Players
• Competitive Benchmarking

Markets Covered

The report provides a detailed analysis of the following market segments:

By Product:

• Bottles
• Cans
• Wraps and Films
• Bags
• Pouches
• Others

By Type:

• Rigid
• Flexible

By Application:

• Food and Beverage
• Industrial Packaging
• Pharmaceutical
• Personal and Household Care
• Others

By Regions:

• Middle East and Africa
• Latin America
• Asia Pacific
• Europe
• North America