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We expect the global plastic packaging market to exhibit a CAGR of 4.67% during 2022-2027.
The widespread applications of plastic packaging across diverse sectors, such as food and beverage, healthcare, cosmetic and personal grooming, etc., as it offers enhanced versatility, durability, sustainability, etc., are primarily driving the global plastic packaging market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous end-use industries for plastic packaging.
Based on the material, the global plastic packaging market can be segmented into Polyethylene (PE), Polypropylene (PP), Polyethylene Terephthalate (PET), Polystyrene (PS) and Expanded Polystyrene (EPS), Polyvinyl Chloride (PVC), and others. Currently, Polyethylene (PE) holds the majority of the total market share.
Based on the product, the global plastic packaging market has been divided into bottles and jars, trays and containers, and others. Among these, bottles and jars currently exhibit a clear dominance in the market.
Based on the end use industry, the global plastic packaging market can be categorized into food and beverages, healthcare, cosmetics and personal care, and others. Currently, the food and beverage sector accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global plastic packaging market include ALPLA-Werke Alwin Lehner GmbH & Co. KG, Amcor plc, Anchor Packaging LLC, Berry Global Inc., DS Smith plc, Honeywell International Inc., Huhtamäki Oyj, Mondi plc, Printpack, Sealed Air Corporation, Sonoco Products Company, and Winpak Ltd.
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