Plastic Packaging Industry Market Research Reports, Industry Analysis and Trends
Plastic packaging has been widely approved and accepted in packaging consumer goods; from food items and electronic devices to large industry equipments and machines. Plastic packaging serves as a convenient and durable way of packaging for many industries. Plastic packaging companies have matured with the advent of technology and overall environmental awareness. The global plastic packaging market is growing steadily in which mature markets are providing a modest growth rate whereas the new emerging markets are opening up new opportunities for prospective growth rate. With issues relating to impacts of plastic on the environment, changing consumer needs and increasing demand, plastic packaging industry is improving and incorporating the changes that are beneficial to all segments.
There is an increased demand of plastic packaging in packaged foods segment; with dairy, meat and chilled foods being the most transported food items, packaging becomes very important to preserve, protect, and sustain the food item for longer time and under different temperatures and pressures. In addition, pharmaceutical industry comes close to packaged food industry; the requirement for packaging medicines rightly is the utmost priority for pharmaceutical companies. Plastic packaging companies are comprehensively overshadowing paper and cardboard packaging industry with increased revenues and penetration into newer markets as the demand for more powerful and secure packaging solutions are derived from plastic packaging.
Plastic packaging is comparatively costs less and are resistant to various atmospheric conditions; they are insoluble and chemically inert, because of which they are much less toxic in nature. Due to plastic packaging’s vital characteristics, demand is growing in variety of sectors. Plastic packaging’s flexible property is the propelling factor to excel incredibly in the upcoming and established markets. Typically, high industrialized sectors such as US, Asia and Europe are the high consumers of global packaged goods; thus, high demand is recorded in those sectors, but with urbanization, the market is estimated to spread across worldwide growth with better technology and larger supply.
Plastic Packaging Industry Current Trends
Plastic packaging demand is expected to scale high at significantly better rate as the growth of middle class in developing nations continues, with more consumers recorded, the requirement and supply for sustainable packaging in increasing. The sustainability factor is what’s driving more demand in developed nations. Increased environmental concerns have made consumers aware and the need to recycle and reusable quality is required by the consumer base. The recyclability factor has provided great opportunities for markets and manufacturers to discover and innovate with materials that are not harmful to nature.
There is a huge pressure from the public to brand owners and retailers to reduce environmental impact of packaging; from leaving carbon footprints to non-degradable materials. In response the plastic packaging industry is reducing the impact to nature by reducing the weight and usage of materials that are bio-degradable or the materials that are sustainable. Technology has played an important role in the growth of market along with demographic influences. Faster and efficient machineries and improved formulas are driving the expansion of plastic packaging market to every corner worldwide. According to Smithers Pira, the global rigid plastic packaging market is expected to reach US $135.5 billion by the end of 2013 and forecast projects the market to reach $174.3 billion by 2018 at 5.2% CAGR.
Major Plastic Packaging Industry Players
Major players in plastic packaging industry include, Man Luen Plastic Packaging, LINPAC, Printpack Inc., DS Smith PLC, Daibochi Plastic and Packaging Industry BHD, APPE, AEP Industries, Alpla-Werke, Amcor, Berry Plastics Corporation, Silgan Holding Inc and the Britton Group.