Reader, please note: We’re offering the following study results for your information and convenience. There is no implied endorsement of the researcher, the material or its accuracy/validity, nor is this a solicitation to purchase additional information or membership in any organization.
According to a new study from Transparency Market Research called “Plastic Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014-2020”, the global plastic packaging market is expected to grow through 2020. Such predictions can be largely attributed to the healthcare and food/beverage segments and a significant increase in general packaging consumption in economically developing countries such as Brazil.
Globally, the plastic packaging market was valued at $259.65 billion in 2013 and is expected to reach $370.25 billion by 2020.
As the beverage industry already uses the largest application of plastic packaging, steady growth is expected. Additionally, increased use of plastic packaging in the healthcare industry can be directly attributed to new pharmaceutical regulations including the reduction of fraudulent drugs on the market.
In addition to these trends, the study also notes rising customer preference for lightweight, durable, and highly aesthetic packaging.