COVID-19 Impact on Packaging Market 2019-2021: Amcor, Ball Corporation, Bizongo, International Paper, Tetra Pak, Berry Global Inc, DS Smith Plc, Mondi Group, Macfarlane Group Plc, Smurfit Kappa and Others.
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The Global Packaging Market size during the COVID-19 pandemic is projected to grow from USD 909.2 billion in 2019 to USD 1,012.6 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 5.5% as the most likely outcome during the forecast period, with the best-case scenario reflecting 9.2% growth and the worst-case scenario at 2.2% growth. This report spread across 88 pages, profiling 10 companies and supported with 34 tables and 17 figures are now available in this research.
Top Key Players Profiled in the Packaging Market:
o Amcor (Australia)
o Ball Corporation (US)
o Bizongo (India)
o International Paper (US)
o Tetra Pak (Switzerland)
o Berry Global Inc. (US)
o DS Smith Plc (UK)
o Mondi Group (Austria)
o Macfarlane Group Plc (UK)
o Smurfit Kappa (Ireland)
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"Based on application, healthcare is one of the fastest-growing segments amidst this pandemic"
During the COVID-19 pandemic, states and local municipalities are practicing extreme caution to avoid the spread of the coronavirus. Healthcare products, such as syringes, vials, and cartridges, are required on a large scale amidst this pandemic to fulfill the increasing global demand.
"The plastic packaging segment is projected to lead the market during the forecast period."
Based on material type, plastic is projected to lead the packaging market during the forecast period. Plastic is described to be very necessary, and several measures are being taken to either temporarily roll back single-use plastic bag bans or stop the implementation of state-wide ban laws. Since the demand from many end-use industries is growing, the use of plastic packaging will also see a significant rise during this crisis.
APAC is projected to be the largest packaging market during the forecast period.
The growth in APAC is fueled by the easy availability of packaging raw materials such as plastic, fiber, and glass and the presence of manufacturing facilities of most of the packaging companies. The market sizes estimated in this study were validated through primary interviews conducted with various industry experts globally.
Breakdown of primary participants' profile:
o By Company: Tier 1 -23%, Tier 2 -45%,and Tier 3 -32%
o By Designation: C-level Executives19%, Managers 43%, 38% and others
o By Region: North America - 75%, Europe - 36%, APAC -26% and RoW**- 33%
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The objective of this study is to define, describe, and forecast the impact of COVID-19 on the packaging market based on various segmentations and strategically analyze these market segments with respect to individual growth trends, growth prospects, and contribution to the overall growth. In this report, the packaging industry has been segmented based on application, material type, and region.
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