The plastic packaging market is driven by development in food & beverages and healthcare industries globally. The change in consumer’s lifestyles with rapid growth has augmented the demand for plastic packaging.

Regional Overview

The geographical overview global plastic packaging market has been conducted in four major regions, namely the Asia Pacific, Europe, North America, and the rest of the world (including Latin America and the Middle East and Africa).

However, North America had the prime plastic packaging market size in 2015 and is estimated to show stable growth by 2022. Europe and the Rest of the World are also anticipated to grow from 2016 to 2022. The European food and beverage industry is projected to show some staggering growth which is likely to bolster the plastic packaging market by 2022.

Segmentation

The global market for plastic packaging is segmented on the basis of type and application. The type segment consists of products including rigid packaging and flexible packaging.

Rigid packaging is expected to generate the largest share of the revenue. End-users favor rigid packaging the most. The rise of rigid plastic market into the beverage sector is based on the expectancy of it being of hygienic, high quality, and healthy. The retail industry is also expected to boost the growth of this segment during the forecast period.

Application-wise segmentation comprises food & beverages, healthcare, industrial, personal care and others. Among these, the food & beverage sector has recorded the highest percentage of the global revenue in 2015 and anticipated to surge further over the review period. With rapid development, the demand for packaged food is also growing. This alteration in consumer habits has spurred growth in the global market. Rapid growth in the pharmaceutical industry can support the growth rate of healthcare plastic segment in the near future.

Competitive Landscape

The top market players identified by MRFR in the global market are Amcor Ltd, Crown Holdings Inc., BASF SE, Saint-Gobain, Huhtamaki Oyj.