What is Plastic Packaging?
Polymers of long carbon chain Plastic are a wide range of synthetic and semi-synthetic materials that use polymers as a main ingredient. Plastic Packaging means Plastic wrapping or the container prepared in advance to seal goods to protect them from deterioration or contamination with other goods. Plastic is durable and lightweight and cheap to produce, making it an incredibly efficient material to protect and preserve products such as electronics and food.Many companies use plastic Packaging
Drivers of Plastic Packaging Market
Plastic is durable in nature and cheap to produce so many companies prefer plastic for packaging goods. Comparing other packaging products consumers have shown much interest in plastic packaging as plastic is easier to handle. Plastic containers are becoming important in the Food, Beverages, Cosmetics, and Pharmaceutical industries.
Extrusion-based plastic packaging products such as wraps, films, pouches, and bags are widely employed by most consumers as well as industrial applications in the country owing to their performance, benefits, and sustainability. The packed food and beverage sector is witnessing robust growth globally for several years. Growing urban population, changing lifestyles, rising economic activities in emerging countries, increase in penetration of e-retail across the globe are expected to significantly drive the demand for Plastic Packaging in the Market.
Restraints in Global Plastic Packaging Market
Plastic is harmful to the environment. Plastic is causing pollution. Tons of plastic are present in the ocean at present. This causes water pollution. So plastic has been banned in several places in several ways and products. The bio-based packaging is also increasing among many marketers so plastic packaging is not the only option for marketers. The recycling process is a complex process and time-consuming too.The United Nations program estimates that the world creates 330 Million tons of plastic waste per year. From that, only 9% is recycled to date, and 14% is collected for recycling. Due to this, recycling is not the perfect solution for the plastic waste.
Segment Analysis
The rigid packaging segment dominates the market for plastic packaging and accounts for the largest revenue share in 2022. Plastic bottles are widely used for the bisleri market. Widely used material for packaging Polyethylene Terephthalate. It is the most commonly used plastic in the world. This plastic material is mainly used for food packaging that requires glass-clear quality. PET is a tough material with high impact strength. Plastic packaging is mostly done in food and beverage, medical, in industries, some of the product is rigid packaging and for some flexible packaging. Many countries covered in plastic packaging market.
Conclusion
The Plastic packaging market is rising due to consumer choice as consumers prefer plastic packaging is easier. The industries prefer plastic packaging due to cheap production and durable nature.
Author's Detail:
Sonali Shinde /
LinkedIn
Working as a research analyst in the Chemical & Materials domain. I gained experience in formulating strategic insights, trend analysis, market estimations, competitive landscapes, M&A analysis, DRO, report writing, secondary research, and quantitative research. I also have experience in using a range of statistical and analytical tools to analyze data.
