Plastic And Paper Plate Market Significant Profits Estimated to be Generated by 2027
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Plastic and Paper Plate Market: Market Dynamics
Plastic and paper plates are manufactured by food packaging manufacturers, and it is an important part of the food packaging market. Food packaging market is estimated to be around US$ 150 billion and is expected to grow at a CAGR of 4% over the forecast period. Plastic and paper both are cheap forms of raw materials, and are available in abundance. The increased use of paper plate has eliminated the concerns of the regulatory authorities in various regions for the increased waste of plastic which is expected to boost the plastic and paper plate market. The changing lifestyle of the people especially in the APEJ region due to the increased influence of the western culture is expected to increase the consumption of on the go food services while influencing the plastic and paper plate market over the forecast period. However, trays are an another form of packaging which is being widely used for serving fast food to consumers which can limit the plastic and paper plate market over the forecast period.
Plastic and Paper Plate Market: Market Segmentation
Plastic and paper plate market is segmented by the types of material used and end use.
Based on the types of materials used, plastic and paper plate market is segmented into:
Paper and Paperboard
Polyethylene terephthalate (PET)
High-density polyethylene (HDPE)
Low-density polyethylene (LDPE)
Based on the end use, plastic and paper plate market is segmented into:
Food retail outlets
Birthday parties and other occasions
Plastic and Paper Plate Market: Regional Outlook
Regionally Global Plastic and Paper Plate Market is segmented into
Asia-Pacific excluding Japan (APEJ)
Middle East and Africa (MEA)
North America is expected to lead the plastic and paper plate market over the forecast period due to the large food servicing industry in the region. Western Europe is expected to follow the North American market owing to the current lifestyle of the people in the region. While plastic and paper plate market Eastern Europe is expected to grow at a moderate rate over the forecast period. APEJ region and Latin America is expected to exhibit rapid growth rate for plastic and paper plate market over the forecast period due to the presence of the densely populated areas in the region. MEA is expected to account for small but fast growing market share of plastic and paper plate market.
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Plastic and Paper Plate Market- Key Players:
Some major players in the plastic and paper plate market are Biopac India Corporation Limited, Eco-Products, Inc, Ecoware Solutions Pvt. Ltd, Solia SA, Sabert Corporation, CKF Inc., Huhtamaki Group, Guangdong Huasheng Meto Green Tech Stock Limited, Hangzhou Lvyang Paper Products Co., Ltd, Xiamen Bioleader Environmental Protection Technology Co., Ltd., Yiwu Green Paper Work Factory, Ningbo Yinzhou Realpack Products Co., Ltd.
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