Global Plastic Packaging Product Market was valued at USD 344.91 billion in 2019 which is expected to reach USD 424.27 billion by 2017 at a CAGR 3.56%.
Plastic materials are used in the packaging of products like food, oil, beverages etc. Plastic material is preferred for packaging due to its durability, cost effectiveness, and performance. Plastic packaging material is mainly classified into two types such as rigid, and flexible. These products are widely used in various industries such as Personal & Household Care, Pharmaceuticals, Industrial Packaging, Food & Beverages, and Others.
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Increase in packaged food and beverage industry due to changing lifestyle and increase in penetration of organize retail is expected to boost the global plastic packaging product market growth. Furthermore, improvement in recycling processes rate for packaging across the globe which is expected to propel the global plastic packaging product market growth. Moreover, increased demand for convenience packaging will have the positive impact on global plastic packaging product market. Also, preference towards premium bottled water and imported brands are expected to drive the global plastic packaging product market growth.
However, stringent rules and regulation and ban on plastic are the challenging factors which are expected to hamper the global plastic packaging product market growth.
Global Plastic Packaging Product Market is segmented into type such as Rigid, and Flexible, by product such as Cans, Bottles, Wraps & Films, Bags, Pouches, and Others. Further, Global Plastic Packaging Product Market is segmented into application such as Personal & Household Care, Pharmaceuticals, Industrial Packaging, Food & Beverages, and Others.
Also, Global Plastic Packaging Product Market is segmented into five regions such as North America, Latin America, Europe, Asia pacific, and Middle East & Africa.
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- Wraps & Films
- Personal & Household Care
- Industrial Packaging
- Food & Beverages
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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