DUBLIN--(BUSINESS WIRE)--The "COVID-19 Impact on Packaging Market by Material Type (Plastics/Polymers, Paper & Paperboard, Glass and Metal), Application (Healthcare, Food & Beverages, Household Hygiene, Beauty & Personal Care and Electrical & Electronics) and Region - Global Forecast to 2021" report has been added to ResearchAndMarkets.com's offering.
The global packaging market size during the COVID-19 pandemic is projected to grow from USD 909.2 billion in 2019 to USD 1,012.6 billion by 2021.
During the COVID-19 pandemic, states and local municipalities are practicing extreme caution to avoid the spread of the coronavirus. Healthcare products, such as syringes, vials, and cartridges, are required on a large scale amidst this pandemic to fulfill the increasing global demand.
The plastic packaging segment is projected to lead the market during the forecast period.
Based on material type, plastic is projected to lead the packaging market during the forecast period. Plastic is described to be very necessary, and several measures are being taken to either temporarily roll back single-use plastic bag bans or stop the implementation of state-wide ban laws. Since the demand from many end-use industries is growing, the use of plastic packaging will also see a significant rise during this crisis.
APAC is projected to be the largest packaging market during the forecast period.
The growth in APAC is fueled by the easy availability of packaging raw materials such as plastic, fiber, and glass and the presence of manufacturing facilities of most of the packaging companies.
The market sizes estimated in this study were validated through primary interviews conducted with various industry experts globally.
The report profiles several leading players in the packaging market that include companies, such as Amcor (Australia), Ball Corporation (US), Bizongo (India), International Paper (US), Tetra Pak (Switzerland), Berry Global Inc. (US), DS Smith Plc (UK), Mondi Group (Austria), Macfarlane Group Plc (UK) and Smurfit Kappa (Ireland). They have adopted short, mid, and long term growth strategies such as donations, increased production, partnerships, and others to serve their customers efficiently and increase their future market shares.
Market Dynamics
Drivers
- Growing Demand for FMCG and Pharmaceutical Packaging
- Rising E-Commerce Sales
Restraints
- Shut Down of Manufacturing Facilities
- Non-Availability of Raw Materials
-
Burden on Machinery and Equipment
Companies Mentioned
- Amcor
- Ball Corporation
- Berry Global Inc.
- Bizongo
- DS Smith Plc
- International Paper
- Macfarlane Group Plc
- Mondi Group
- Smurfit Kappa
-
Tetra Pak
For more information about this report visit https://www.researchandmarkets.com/r/84as7a
