Plastic Containers Market Assessment Based on Top Driving Factors during 2017-2026
Verfasser: ashwani_kailiya on Thursday, 23 January 2020Packaging plays a key role in terms of value addition for the product, owing to the demand for protective features against contamination, in addition to aspects such as increasing aesthetic appeal, logistics, brand visibility, and marketability. Packaging is also important for extending shelf life. The global plastic containers market is projected to grow at a healthy CAGR of ~ 5.4 per cent through the forecast period till 2026. This figure will account for the sales of ~ 120,000 metric tons of plastic containers to be sold during this period.
The adoption of plastic as a key packaging material has gained traction in recent years in most places around the world, becoming a substitute and replacement for glass, metal, paper, and wood variants, owing to not only the superior performance characteristics, but also cost-effectiveness, which will gain growth in a number of end use sectors including pharmaceuticals and food and beverage products.
North America to Continue Dominating Demand
North America has been projected to be a fast expanding market in terms of plastic containers, which can be attributed to the substantial growth of the food and beverage industry in the region. This trend is further supported by increasing expenditures on utilities and stringent laws towards recycling procedures for packaging materials.