Flexible Plastic Packaging Market Top Key Players – Alpla, AMCOR Limited, Bemis Company Inc., Berry Plastics Corporation
It is estimated that more than 2 million single-use plastic bags and more than 1 million plastic bottles are delivered worldwide every minute, with bottles and bags being the world’s most produced and used plastic packaging material. It is estimated that this figure will exceed half a trillion by 2020.
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FLEXIBLE PLASTIC PACKAGING MARKET DYNAMICS
The industry is pushed by the spiraling demand for flexible plastic packaging items, such as stand-up pouches and flat pouches. Food and beverage product makers use stand-up pouches to distinguish their products and achieve a favorable market edge. The versatility of being customised to deliver exclusive designs, shapes , and sizes is available for stand up pouches.
In order to regulate the sector, governmental bodies such as the Environmental Protection Agency ( EPA) have introduced different legislation. This regulatory body promulgated Effluent Guidelines and Specifications of Organic Chemicals, Plastics, and Synthetic Fibers (OCPSF), which concern the discharge of plastic items.
The limits on the use of the commodity force market participants to comply with the regulatory guidelines defined by different bodies.
SHIFTING TRENDS AND GEOGRAPHY
Due to factors such as weight reduction compared to glass and enabling a more economical transportation operation, the polyethylene terephthalate ( PET) segment would expand lucratively during the forecast period based on the raw material.
At present, heavy and delicate glass bottles are commonly replaced by plastic bottles made from PET because they provide recycled packaging for mineral water and other drinks. With this growing trend expected to persist, demand for PET in bottled water packaging is expected to be propelled.
By geography, due to the existence of two densely populated countries, i.e. China and India, Asia-Pacific would have lucrative growth during the forecast era. The rise in disposable income in these countries would complement the development of sectors such as food and drink, pharmaceuticals, pet foods and cosmetics, which, in exchange, would allow the demand for plastic bottles and containers to flourish.
With China’s rapidly expanding economy, consumer spending on personal and home-care goods, such as perfumes and cosmetics, has been rising. In addition, India is also expected to see an increase in plastic packaging used in the food and beverage industry, especially with the recent nationwide lockout, which is raising the need for longer-term storage of food.
KEY MARKET PLAYERS
Because of the involvement of many players operating their industry on national and international borders, the plastic packaging market is dynamic. With the involvement of major players such as Alpla, AMCOR Limited, Bemis Company Inc., Berry Plastics Corporation, among others, the competition is moderately oriented.
Bemis Company Inc.
Berry Plastics Corporation
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