Plastic Packaging Market
REPORT DESCRIPTION
Plastic Packaging Market( Product Types- Rigid Plastic Packaging and Flexible Plastic Packaging; Applications- Food & Beverages, Industrial, Household Products, Personal Care, Medical, and Automotive Components)- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020
The plastic packaging industry is highly fragmented in nature, with the top five companies accounting for merely 11 % share of the in 2013. This has led to low market concentration as there are a large number of plastic packaging manufacturers in the market. Moreover, the key focus of the industry is on the development of innovative products through technical advancement. These factors help in lowering the entry barriers for newcomers. However, environmental regulations regarding certain materials used in the manufacture of plastic packaging are expected to hamper the growth rate of the market. Nevertheless, growing demand for plastic packaging coupled with its increasing application scope is expected to provide new opportunities for the growth of existing companies as well as lower the entry barriers for new entrants.
Amcor Ltd., Sealed Air Corporation, Bemis Company, Inc., Sonoco Products Company, and Mondi plc are some of the prominent names in the market, while several domestic players collectively contribute to a very significant chunk of the shares. The degree of competition in the global packaging market is expected to remain high in the next six years. Rising at a healthy CAGR of 5.2 % during the forecast period of 2014 – 2020, the valuation is estimated to reach US $ 3.7 bn by the end of 2020.
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Vastly Populated Asia Pacific Remains Most Lucrative Region By product, the report segments the global plastic packaging market into rigid packaging and flexible packaging, and observes that rigid packaging currently serve the maximum demand, owing to demand from beverage packaging. Carbonated soft drinks and bottled water are high in demand,
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