LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global packaging market is expected to grow at a CAGR of almost 6% during the predicted period.
This research report titled ‘Global Packaging Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global packaging market is expected to witness a high growth rate during the forecast period. This high growth rate is due to the global change in demographics, such as increasing urbanization, growing number of the small households, rising middle-class population, and increasing aging population. The changes in the demographics have changed the consumer buying behavior and taste and preference of the consumers, thereby leading to an increase in the demand for packaged products.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Technavio’s analysts categorize the global packaging market into five major segments by packaging type:
- Board
- Rigid plastic
- Flexible
- Metal
- Glass
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
The top three segments of the global packaging market are discussed below:
Global board packaging market
The global board packaging market is expected to witness a substantial growth rate during the forecast period. The high growth rate of paperboard is owing to its easy recyclability and availability. For instance, in the US, the paper and paperboard have a recycling rate of more than 60%, which makes it a preferred material over other packaging materials.
According to Sharan Raj, a lead packaging research analyst from Technavio, “The global board packaging market is expected to gain huge share in APAC, owing to the growing population, increase in demand for alcoholic beverages, and the growth of pharmaceutical companies. The growth in the adoption of bag-in-box packaging solution, manufactured using corrugated paper or paperboard, for packaging lubricants and beer will further fuel the demand for board packaging material.”
Global rigid plastic packaging market
Rigid plastic packaging includes a wide range of products, such as squeezable plastic tubes, cosmetic containers, HDPE and PET bottles, and household-care products like paints and adhesives. The global rigid plastic packaging market is expected to witness the highest growth rate during the forecast period because of the growing consumer preference for low cost, lightweight, non-breakable, and easily moldable packaging solutions.
“The reduction in crude oil prices has further reduced the price of polymer resins, which in turn, has reduced the raw material prices for rigid plastic solutions and increased the profitability of vendors. In 2016, PET bottles, a product of rigid packaging solution, held the largest share in the packaging of beverages,” says Sharan.
Global flexible packaging market
The global flexible packaging market is expected to witness a considerable growth rate during the forecast period. Flexible packaging is widely used in applications in the pharmaceutical, food and beverage, and retail industries. Thus, the growth of these industries is increasing the demand for flexible packaging solutions.
The easy molding ability of flexible plastic makes it a preferred material for the customization of the packaging of products as per the customer specifications. The growth in the pouch packaging market by food and lubricant packaging due to the low cost and lightweight is driving the demand for flexible packaging solutions.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Amcor
- Ball
- Bemis Company
- Berry Global
- DS Smith
- International Paper
- Mondi
- Owens-Illinois
- Sealed Air
- Smurfit Kappa
- Sonoco
Browse Related Reports:
- Green Packaging Market in APAC 2017-2021
- Global Semiconductor Packaging Materials Market 2017-2021
- Global Packaging Tape Printing Market 2017-2021
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
