London, 09 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Plastic Packaging Market 2014-2018, which is expected to grow at a CAGR of 5.49 percent during the forecast period of 2014-2018.
Advantages associated with the use of plastic packaging include cost benefits, reduction in landfill waste, and reduction of energy required in their manufacturing process in comparison to rigid materials. Flexible plastic packaging includes films and sheets, pouches, and bags. This market is characterized by innovative offerings such as BoPET, which is made from stretched PET and has high tensile strength, chemical stability, transparency, and reflectivity. They are becoming highly popular in food contact applications.
“The inert properties of plastics along with its durability, cleanliness, transparency, and light weight make it the perfect choice for bottling complex medical products,” says Faisal Ghaus, Vice President of TechNavio.
“Most of the demand for pharmaceutical packaging again comes from the APAC region, driven by factors such as increased contract manufacturing in the region and aging population.”
Key Market Drivers
- Growth in F&B Consumption to Increase Demand for Plastic Packaging
- Growing Demand from Pharmaceuticals and Healthcare Industry
- Increase in Disposable Income of People in Emerging Markets
Key Market Trends
- Advances in Technology in Plastic Packaging Market
- Emergence of Biodegradable Plastics
- Increase in Demand from APAC Region
Key Market Vendors
- Amcor Ltd.
- Berry Plastics Corp.
- Bemis Company Inc.
- Sealed Air Corporation
- Sonoco Products Company
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
