Plastic Packaging Market Growing Massively by 2021-2026 Major Players: DS Smith PLC, ES Plastic GmbH, Alto Packaging Ltd, Bemis Company Inc

Latest released, the research study on Global Plastic Packaging Market Report Forecast 2021 - 2026, offers a detailed overview of the factors influencing the global business scope. Plastic Packaging Market research report shows the latest market insights, current situation analysis with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors of the Plastic Packaging. The study covers emerging player's data, including competitive landscape, sales, revenue and global market share of top manufacturers are: DS Smith PLC, ES Plastic GmbH, Alto Packaging Ltd, Bemis Company Inc, Anchor Packaging Ltd, APPE Packaging Ltd, Binggrae Co. Ltd, ALPLA-Werke Alwin Lehner GmbH & Co. KG, Amcor Limited, American Packaging Corporation, Berry Global Inc., Constantia Flexibles Group GmbH, Mondi PLC, Novolex Holdings Inc., Printpack Inc., Reynolds Group Holdings Ltd, RPC Group PLC, Sealed Air Corp., Sonoco Products Company, Tetra Pak International SA, Toppan Printing Co. Ltd, Transcontinental Inc., Winpak Limited, Huhtamaki Group

The plastic packaging market registered a CAGR of 3.47% over the forecast period, 2021-2026.

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Industry News and Updates:

 June 2020 - Amcor partnered with Espoma Organic to innovate more sustainable packaging and launch a new bio-based polymer package. The polyethylene (PE) film contains 25% bio-based material, derived, in this case, from sugarcane.
- Sept 2020- Amcor collaborated with Nestle to launch recyclable flexible retort pouches that will improve the environmental footprint of consumer packaging by up to 60%, starting with wet cat food. The new pouch meets the packaging guidelines for a circular economy recently published by the CEFLEX Consortium.

Key Market Trends

"Food Segment" to Occupy Major Share

- The food segment, is the largest source of demand for PET packaging products. According to the British Plastic Federation (BPF), over 70% of the soft drinks in the global market, are being packaged in PET plastic bottles, while, only 30% of them gets packed across other variety of packaging materials, such as glass bottles, metal cans, and paper-based cartons.?
- Food packaging is one of the largest users of plastics. The demand for rigid plastic packaging for the food industry is witnessing demand, as they are increasingly replacing traditional materials such as paperboard, metals, and glass, owing to their beneficial properties, such as lightweight and reduced cost. ??
- The food packaging segment includes packaging solutions for sauces and condiments, dairy products, pickles and syrups, jam, processed vegetables and fruits, and baby food. 

Regional Analysis:

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

North America to Hold the Largest Market Share

- North America is one of the fastest-growing regions when it comes to plastic packaging. According to the Plastic Oceans Foundation, more than 100 billion plastic bags are used by Americans every year. With such substantial consumption rates, 109 kg per capita, the United States is expected to continue as the leading market during the forecast period.
- Packaging industry in the North American region has undergone a drastic change in the recent years and the growth of e-commerce, along with innovations in digital printing, and sustainability are driving the market. Due to this, there has been an increased demand for sustainable flexible packaging.
- For instance, according to Flexible Packaging Association, more than 60% of consumers in North America are keen to pay more for tangible and functional packaging benefits, such as product protection, shipping friendly, and supply chain efficacy, among others.
- Flexible packaging is mainly used for food, which contributes to more than 60% of the total market. The US flexible packaging industry is witnessing a healthy growth, as the industry was able to implement innovative solutions for the many packaging challenges it faced. According to the Flexible Packaging Association, brand owners are taking on films, pouches, and bags as a go-to packaging solution, acknowledgements in part to extensive acceptance by American consumers.
- The United States holds the key market share in the market studied, due to the existence of established industries, like pharmaceutical and food and beverage. Due to the changing consumer habits, the beverage industry in the United States has noticed a substantial growth. According to PMMIs 2018 Beverage Report, the North American beverage industry is expected to grow by 4.5% during 2018-2028. The major portion of the beverage sales in North America is achieved by sellers in the United States.

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