With A Revenue Share Of More Than 51% In 2020, The Food And Beverage Application Segment Led The Global Plastic Packaging Market.

 

Plastic Packaging

Plastics are a class of semi-synthetic and synthetic materials that primarily consist of polymers. Plastics have excellent current stability and can be easily moulded, extruded, or pressed into solid objects of varying shapes. Plastic packaging is the most common type of packaging. Plastic packaging is used in nearly every industry, from the food and beverage industry to the pharmaceutical industry. Plastic packaging is typically used for fragile products that must be transported over long distances. Plastic is a long-lasting and cost-effective packaging material. Plastics, because they are lightweight, are the most commonly used packaging material. Plastics, on the other hand, are not biodegradable in nature and thus are not environmentally friendly. It takes hundreds of years for plastics to decompose. The widespread disposal of plastics on land and in bodies of water pollutes the environment.

 

With a revenue share of more than 51% in 2020, the food and beverage application segment led the global Plastic Packaging Market. During the forecast period, the segment is expected to grow significantly. Changing consumer lifestyles and food preferences have resulted in the expansion of the packaged and processed food manufacturing sector, which is expected to drive market growth. Furthermore, rising consumption of both alcoholic and non-alcoholic beverages is expected to fuel segment growth. Because of its convenience, single-serve consumer packaging has grown significantly in recent years. Growing consumer attention to health and well-being, as well as increased awareness of waterborne diseases, have propelled demand for packaged drinking water around the world, which is expected to have a positive impact on the growth of the food & beverage application segment.

 

With a revenue share of more than 51% in 2020, the food and beverage application segment led the global Plastic Packaging Market. During the forecast period, the segment is expected to grow significantly. From 2021 to 2028, the pharmaceuticals segment is expected to grow at the fastest rate. In terms of revenue, the personal and household care application segment is expected to grow at a CAGR of more than 4.3 percent over the forecast period. Rising emphasis on advanced packaging solutions, combined with the growth and expansion of the packaging industry, is one of the major factors driving up demand for plastic packaging. The rise in demand for convenient packaging solutions by various end user verticals such as consumer electronics, household products, and so on is also fueling market growth. The advantageous properties provided by plastic packaging solutions are also a significant factor driving growth in the plastic packaging market value.

Comments

Post a Comment

Popular posts from this blog

Forging has significant application in creation of various metal for wide range of applications

Image
Forging refers to any process that produces metal from scratch by subjecting it to an external force. Metal forgers can be persons or machines. This techniques may involve grinding (for example, to produce alloyed steel) or may involve the application of pressure to apply heat to the metal piece until it is malleable. The actual process depends on various factors, including the material being forged, its shape, and the degree of stress that is placed on it. Forged grain is the product of Forging with grains of metals pushed against each other through a forge-like tool and into the cladding that forms the final shape of the metal after it has been done. It is the principal production process in most metals. It uses local or repetitive thrusts delivered by a hammer or die to apply mechanical blows to the metal piece until it becomes malleable. It is frequently classified according to the speed at which it's done: fast, cold, or hot. There are many types of forgers available today...
Read more

Ginseng Market Outlook, Analysis and forecast up to 2028

Image
  Ginseng Market Ginseng is a slow-growing perennial plant with green oval-shaped leaves and meaty roots that can persist for more than a century. Ginseng is classified into two types: American ginseng and Asian ginseng. Panax quinquefolius is the scientific name for American ginseng, whereas Panax ginseng is the scientific name for Asian ginseng. Ginseng is widely used as a herb to increase the body's energy levels. Ginseng's antioxidant and anti-inflammatory qualities serve to enhance the immune system, lowering the risk of viral and microbial infections. Ginseng also helps to lower the risk of diseases such as lung cancer, skin cancer, and liver cancer. Other health advantages of ginseng include lower blood sugar levels and improved cognitive functions such as memory and conduct. Ginseng is mostly grown in the United States, Canada, and South Korea. Ginseng has been used as a herbal medicine in China for generations, and the country is one of its largest users. Asia Pacifi...
Read more

The Vaccine Contract Manufacturing Industry to Flourish Due to Urgent Need to Develop Reliable and Cost-Effective Vaccines against Covid-19

Image
Germany Vaccine Contract Manufacturing industry is expected to witness significant growth in the near future, due to emergence of Covid-19. In Germany, from 3 January 2020 to 4:06pm CEST, 18 August 2021, there have been 3,835,375 confirmed cases of COVID-19 with 91,921 deaths, reported to WHO. As of 15 August 2021, a total of 97,884,043 vaccine doses have been administered. The increasing demand for safe and cost-effective vaccines due to unmatchable quality, consistent delivery, and unparalleled security, have contributed to the increasing growth and scope of this industry. The increasing demand for vaccines and resulting profit potential have led to significant growth in the number of contract manufacturing plants located across the world. A major focus of such plants is developing cost effective, high quality vaccines that could be made available to public health organizations and other medical organizations. Several new and innovative technologies are also being developed to man...
Read more