Global Plastic Packaging Market: Snapshot
Expansion plans bearing fruition in the food and beverage industry form the key driver for the global plastic packaging market. Plastics offer a cleaner, tougher, and more appealing form of packaging, especially for the food and beverage industry, thereby generating a quick rate of growth in demand worldwide. There is a heavy demand for a lot of products to be made available in plastic bags, pouches, and sachets, as well as the more conventional rigid packaging methods. The physical advantages that plastics provide in terms of strength and durability cannot currently be equaled by any other material for the same price.
However, the global plastic packaging market is currently being restricted by the price control need on its raw materials that are generated from petrochemicals, or crude oil. The price of crude is increasing globally amidst a shortage of supply of fuel. This is hampering the use of crude for purposes other than transportation and exploration. Manufacturers in the global plastic packaging market are therefore looking towards alternative raw materials and have already found positive scope of growth in fields such as bioplastics.
The global plastic packaging market is expected to expand at a CAGR of 5.3% within a forecast period from 2013 to 2020, in terms of revenue. This revenue is expected to touch US$300,582.5 mn by the end of 2016 and is likely to reach US$370,354.9 mn by the end of 2020. The overall volume of production in the global plastic packaging market is expected to reach 108,853.1 kilo tons by the end of 2020.
Platform of Opportunities Shifts from Developed to Developing Economies
From a regional perspective, the global plastic packaging market is finding ample opportunities of growth in consumption as well as development rates within emerging economies across the world. This is especially apparent in Asia Pacific where the end-user industries of the global plastic packaging market have taken off at very fast rates. Industrial growth and infrastructure development, coupled with a high increase in the demand for all products that require plastic packaging are currently boosting the opportunities that players can have in these regions.
Meanwhile, the growth rate of plastic packaging manufacturers in the developed economies of North America and Europe is slowing down to a mediocre average demand. These regions are showing greater concern over the use of plastics for packaging due to the problems they create when it comes to disposal. They are therefore looking for alternative packaging methods and materials that can provide a more eco-friendly solution.
Flexible Packaging Steadily Taking Center stage for Consumer Appeal
The two basic product types offered by the global plastic packaging market are rigid packaging and flexible packaging. Of these, rigid packages have led – and are expected to continue leading – the global plastic packaging market. However, one of the key drivers augmenting the global plastic packaging market currently is the growing demand for flexible packaging. This form of packaging is finding a greater scope of use in multiple applications thanks to developments that have increased their tensile strength and toughness. Flexible packaging also offers the storage of greater volumes of products in smaller spaces as it takes up minimal space and weight when compared to its contents.
The key players currently operating in the global plastic packaging market include Bemis Company, Inc., Constantia Flexibles International GmbH, Mondi Plc, Huhtamaki Oyj, Ampac Holdings LLC, Sealed Air Corporation, Ukrplastic Corporation, Sonoco Products Company, Amcor Ltd., and Wipak Group.
Plastic packaging relates to bags, pouches, films, containers and envelopes made of plastic. Plastic packaging is made of polymers such as high density polyethylene (HDPE), low density polyethylene (LDPE), polyethylene teraphthalate (PET), polypropylene (PP), and polyvinyl chloride (PVC). Plastic packaging is segmented into rigid plastic packaging and flexible plastic packaging.
The plastic packaging report gives a detailed analysis and forecast of the market on a global as well as regional level. On a global level, the market has been analyzed based on the current trends and forecast for the time period ranging from 2014 to 2020. The market has been studied on the basis of volume (kilo tons) and revenue (US$ Mn). For an in-depth understanding of the market on a regional level, the demand has been analyzed and forecast based on volume (kilo tons) and revenue (US$ Mn) for the same time frame. The study takes into account the drivers and restraints of the market and their impact on the growth of the market. In addition, the report includes opportunities available for the growth of the market within the forecast period, on a global as well as regional level.
For an insightful understanding of the market, we have given a detailed analysis of the value chain. The Porter’s five force model gives a clear and in-depth understanding of the degree of competition. The study also covers a market attractiveness analysis, where end-use has been benchmarked based on the market size, growth rate and general attractiveness.
The market has been segmented based on products and end-use and each of these segments have been analyzed and forecast based on volume (kilo tons) and revenue (US$ Mn), for the time period ranging from 2014 to 2020. In addition, the segments have been analyzed and forecast based on current trends on a global as well as regional level, for the given time period. Geographically, the market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW), and the demand has been analyzed and forecast based on current trends for a period of six years, ranging from 2014 to 2020.
Profiles of certain leading companies have been covered in this report along with a detailed analysis of their market share. These include Amcor Ltd., Bemis Company Inc., Huhtamaki Oyj, Mondi, Sealed Air Corporation, and Sonoco Products among others. The company profiles include attributes such as company overview, financial overview, SWOT analysis, business strategies and recent developments.
For research, we conducted in-depth interviews and discussions with numerous key industry participants and opinion leaders. Primary research represents the bulk research effort coupled with extensive secondary research. We reviewed key players’ annual reports, product portfolio, press releases and relevant documents for competitive analysis and better understanding of the market. Secondary research includes in-depth research on current trends, technical writing, recent trades, internet sources, trade associations, statistical data from government websites and associated authorized agency websites. This has proved to be the most successful, effective and reliable approach for obtaining concise data, capturing industry participants’ insights and recognizing opportunities and growth.
The market estimates for this study have been based on volumes, with revenues being derived through regional pricing trends. The price for each of the materials mentioned in the report has been considered, and customized product pricing has not been included. Additionally, the market has been analyzed based on expected demand and the market data for each segment is based on demand volumes and corresponding revenues. The prices considered for calculation of revenue are average regional prices obtained through primary quotes from numerous regional suppliers, distributors and direct selling regional producers. Furthermore, the market data is based on current information. However, presence of a large number of domestic manufacturers in China and India may cause variation in forecast by a small margin. The forecasts have been based on expected demand from application segments.
The report also presents a comprehensive assessment of the stakeholder strategies, winning imperatives for them by segmenting the plastic packaging market as below:
Plastic Packaging Market - Product Segment Analysis
- Rigid Packaging
- Flexible Packaging
Plastic Packaging Market - Application Analysis
- Food & Beverages
- Household Products
- Personal Care
- Others (Including Various Components in Automotives, etc.)
Plastic Packaging Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World