Growth in Food and Beverage Industry Fuels Global Plastic Packaging Market to Reach US$370.2 Bn by 2020.

Transparency Market Research (TMR), a market intelligence and research firm, has recently published a market study on the global plastic packaging, estimating its overall market value to be US$370.2 bn by 2020, expanding at a CAGR of 5.2% during the period from 2014 to 2020.The research report, tilted “Plastic Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, further states that the global plastic packaging market stood at US$259.6 bn in 2013.

According to the market study, the rapid growth of the food and beverages industry has fueled the demand for plastic packaging extensively over the years. Increasing inclination of consumers towards flexible plastic packaging is also stimulating the global plastic packaging market to a significant extent.In addition to this, the increase in the demand for plastic packaging from the pharmaceutical industry is anticipated to propel the market growth during the forecast period. However, the rising costs of raw materials are projected to hamper the market in the near future.

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The report evaluates the global plastic packaging market on the basis of products and end users. Based on products, the market for plastic packaging is classified into the packaging markets for flexible plastic and rigid plastic. The rigid packaging market leads the global market, accounting for the majority share. This product segment is likely to maintain its dominance over the forecast period, cites the report.

The food and beverages industry emerged as the biggest end user of plastic packaging, holding more than 65% of the overall plastic packaging market in 2013. The report further states that this market segment is expected to retain its leading position also during the forecast period.The report analyzes the global plastic packaging market on the basis of its regional distribution as well. North America, Asia Pacific, Europe, and the Rest of the World are the key regional markets for plastic packaging. Among these, Asia Pacific registered the highest demand for plastic packaging and accounted for more than 35% of the overall market in 2013.

The market study anticipates this regional market to retain its position over the forecast period on account of the increasing demand for packaged food as well as rising usage of plastic packaging in the medical and healthcare industry in Asia Pacific.Analysts projects the demand for plastic packaging in developed economies of Europe and North America to exhibit above average growth in the coming years, considering the rising demand from various end-use industries such as food and beverages and medical and healthcare, states the report.

The report also analyzes company profiles of the key participants in the worldwide market for plastic packaging to study the competitive landscape as well as the current market hierarchy. Sealed Air Corp., Wipak Group, Constantia Flexibles International GmbH, Sonoco Products Co., Amcor Ltd., Ampac Holdings LLC, Ukrplastic Corp., Huhtamaki Oyj, Mondi plc, and Bemis Co. Inc. are the major players operating in the global plastic packaging market.

Browse the full Plastic Packaging (Rigid Plastic Packaging and Flexible Plastic Packaging) Market for Food & Beverages, Industrial, Household Products, Personal Care, Medical and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 report at :

http://www.transparencymarketresearch.com/plastic-packaging.html

The global plastic packaging market is segmented into:

By Products

• Rigid Plastic Packaging
• Flexible Plastic Packaging

By End Users

• Food & Beverages
• Industrial
• Household Products
• Personal Care
• Medical
• Others (Including Various Components in Automotives, etc.)

By Region

• North America
• Europe
• Asia Pacific
• Rest of the World (RoW)

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. 

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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