Middle East and Africa Plastic Packaging Market to Reflect Tremendous Growth Potential with A CAGR Of 6.54% by 2022-2028

Middle East and Africa Plastic Packaging Market With strategic analysis, micro and macro market trend and scenarios, pricing analysis, and a holistic assessment of market conditions in the future term, this market research study keeps a close eye on major rivals. It's a thorough research that focuses on key and secondary drivers, market share, leading segments, and geographic analysis. The Middle East and Africa Plastic Packaging Market also examines significant players, major collaborations, mergers and acquisitions, as well as current innovation and corporate strategies.

The Saudi Arabian plastic packaging market was valued at USD 25.79 billion in 2020 and expected to reach USD 37.75 billion by 2027 and grow at a CAGR of 6.54% over the forecast period (2022-2027).

Top Key Players are covered in this report: SABICSaudi Basic Industries Corporation, Zamil Plastic Industries Co., Takween Advanced Industries, Packaging Products Company (PPC), Plastico SPS, Saudi Arabian Packaging Industry WLL (SAPIN), Arabian Plastics Industrial Company Limited (APICO), National Plastic Factory LLC, AL-Ghandoura Co. Manuf. Plastic GhanPlast), Saudi Plastic Factory Company, Al Nawakheth Factory Company, KANR For Plastic Industries, Coloredsun, Arnon Plastic Industry Co. Ltd, Napco Group (Napco National), Sealed Air Corporation (Sealed Air Saudi Arabia)

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Recent Developments:

Jun 2020 - Aramco announced the completion of its share acquisition of a 70% stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund (PIF). The acquisition of the SABIC stake aids Aramco's long-term downstream strategy to grow its integrated refining and petrochemicals capacity and create value from integration across the hydrocarbon chain.

Key Market Trends:

The Middle East & African region is witnessing an increase in the demand for pharmaceutical packaging in the region, which is majorly driven by countries such as Saudi Arabia. Healthcare remains the most fundamental scenario for the Saudi Arabian government. Increasing flexible plastic packaging solutions such as pouch demand across such end-user industries is driving the market to grow.

- According to USDA Foreign Agricultural Service, in 2019, the Egyptian retail food sector size was around USD 15 billion. With increased purchasing power, the market will grow and can foresee a growth of 15 - 20% over the next five years. Traditional outlets still dominate the Egyptian market, representing 98% of total outlets with 75% of total sales. In the last two years, the shift from grocery retailers and open markets towards supermarkets and hypermarkets has continued. This caters to the rise in the flexible packaging in the form of vacuum bags and vacuum pouches in the food sector.

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Key market aspects are illuminated in the report:

Executive Summary: It covers a summary of the most vital studies, the Global Middle East and Africa Plastic Packaging Market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.

Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Middle East and Africa Plastic Packaging Market, the years measured, and the study points.

Company Profile: Each company in this market sector is screened based on its goods, value, SWOT analysis, capacity, and other key characteristics.

Manufacture by region: This Global Middle East and Africa Plastic Packaging Market report offers data on imports and exports, sales, production and key companies in all studied regional markets

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