The plastic packaging market is that segment of the global packaging industry that is witnessing remarkable growth owing to substantial demand from the food and beverages market and also the pharmaceutical packaging market. High demand from the aforementioned end users can be attributed to the durable and tough nature of plastics that in turn enhances the shelf life of the products. Increasing consumer preference for flexible plastics also plays a noteworthy role in propelling the global demand for plastic packaging.
There are two types of plastic packaging namely, rigid and flexible. While rigid plastic packaging is best suited for products requiring dimensional stability, flexible plastic packaging materials take the shape of the goods that they are filled with. Apart from pharmaceutical packaging, and food and beverages, much of the demand for plastic packaging also comes from other segments such as medical, personal care, industry, and household products.
Browse Market Research Report of Plastic Packaging Market: http://www.transparencymarketresearch.com/plastic-packaging.html
What Role does Sustainability Play in the Global Plastic Packaging Market?
High cost of raw materials is a glaring challenge in the global plastic packaging market, which mainly arise from fluctuating oil prices. However, in order to prosper in the global market, market participants are gradually shifting their focus towards bioplastics and the application of nanotechnology in plastic packaging. The demand for bioplastics stems from the growing importance of environmental sustainability.
“Sustainability” is the focal point for the global plastics packaging market today, with companies relentlessly working towards manufacturing environment-friendly plastics. Plastics, as we know, are an indispensable part of everyday life. Since there are limited alternatives to plastics, the main challenge for the global plastics packaging market lies in producing plastic that poses minimum threat to the environment.
Browse Market Research Press Release of Plastic Packaging Market: http://www.transparencymarketresearch.com/pressrelease/plastic-packaging-market.htm
Expansion of Product Portfolio and Increasing Business Ventures to Stimulate Market Performance
The key companies operating in the global plastic packaging market are Mondi plc, Amcor Ltd., Huhtamaki Oyj, Bemis Company Inc., Sonoco Products Company, Wipak Group, and Ampac Holdings LLC. U.S. based plastic packaging company, Sonoco Products Company, 2014 launched a bio-based plastic bottle for the latest homecare line started by Ecover, a Belgium based provider of home cleaning solutions. This plant-based eco-friendly bottles will be soon added to the product line of Ecover in North America, with a view towards ensuring product efficacy and sustainability.
Ongoing industry trends suggest that greater preference for rigid plastic packaging containers over glass, paperboard, and metal packaging will propel this segment to expand robustly in the forthcoming years. A few weeks back, U.S. based manufacturer of flexible packaging and pressure sensitive components, Bemis Company Inc. declared that it would soon be acquiring the rigid packaging segment of the Brazil based Emplal Participações S.A. The joint collaboration between these two companies is mainly aimed at increasing the overall production of rigid packaging materials for household goods and food products. Emplal exhibits excellent operational capacities when it comes to the rigid packaging segment. This in turn is expected to contribute significantly to the goals and business plans of Bemis in the years to come.