Asia Pacific Leads Global Plastic Packaging Market

Published Date : Dec 21, 2015

The pressure to raise the appeal of products has drawn the focus of producers towards innovative packaging, driving the growth of the global plastic packaging market. The rapid development in various end-use industries such as food and beverages, consumer electronics, pharmaceuticals, and many more is propelling the worldwide plastic packaging market to a great extent.

In 2013, the global market for plastic packaging had reached around US$260 bn. Stimulated by the increasing interest of consumers towards innovative packaging of products, it is likely to attain a value of approximately US$370 bn by the end of 2020.

Here are the five top trends, which will shape the worldwide plastic packaging market in the forthcoming years.

  • In the product category, the rigid packaging segment has emerged as the market leader and is projected to retain its position in the near future.
  • The food and beverages industry has been reporting the highest demand for plastic packaging over the last few years. The industry is likely to maintain the pace of demand and acquire the dominating position among all the end users in the coming years.
  • The pharmaceutical industry is expected to post the fastest demand for plastic packaging while the healthcare industry is projected to witness a steady growth over the next few years.
  • Asia Pacific is leading consumer of plastic packaging. The rising demand for packaged food, together with the increasing usage of plastic packaging in the Asia Pacific medical and healthcare market, is the key factor behind the lead of Asia Pacific among all the regional markets.
  • North America and Europe are anticipated to experience an above average rise in the forthcoming years.

Mondi plc, Wipak Group, Sonoco Products Co., Bemis Co. Inc., Sealed Air Corp., Huhtamaki Oyj, Ampac Holdings LLC, Amcor Ltd., Ukrplastic Corp., and Constantia Flexibles Int. GmbH are the major players participating in the global packaging market.