Global Containers Packing Market By Overview
Container: any receptacle or holder that contains or stores a product, protects goods, is easy to transport, helps distinguish it from other items and presents the product for sale. A container is any can, box, container, or self-contained wrapper that holds any material or item. The packaging is the process by which a commodity is put into containers or packaged for transport and sale. This term includes both the production of a container as putting the product into it.
Drivers and Restraints:
Increase in customer preference and high preference towards processed and packaged foods are some of the factors fueling the market growth. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the containers & packaging market in the global. Use the five forces analysis to determine the competitive intensity and therefore attractiveness of the global containers & packaging market. Leading company profiles reveal details of key containers & packaging market players’ global operations and financial performance. Add weight to presentations and pitches by understanding the future growth prospects of the global containers & packaging market with five-year forecasts by both value and volume. However, factors such as high initial capital investment are restricting market growth.
Segmentation:
The global containers & packing market is segmented based on product, application, and region.
Based on product, the global containers & packing market is segmented into the flexible foil, flexible paper, flexible plastic, glass, metal, paperboard, rigid plastic, and other products. The rigid plastic segment accounted for significant market share during the forecast period due to rising primarily because of the increasing preference of using plastic as a raw material in packages and growing adoption is the versatility and durability provided by plastic. Based on the application, the target market is bifurcated into beverage packaging, food packaging, healthcare products packaging, industrial packaging, homecare products packaging, personal, and other applications.
Based on the region the global containers & packing market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounts highest revenue share to the global containers & packing market due to growing demand for advanced technologies and increasing geriatric population. Asia Pacific containers & packing market is projected to register a high CAGR over the forecast period owing to the growing trend of rising demand for ease foods and labelled products and increased demand for dairy products in developing countries like India and China.
Key Players:
The key players operating the global containers & packing market involves Amcor, Ardagh Group, Nypro, Becton, Clondalkin Group Holdings, Crows Holdings, Gerresheimer Group, International Paper, LINPAC Group, and Mondi Group. For instance, On February 17, 2020, Amcor’s partnership with the Healthcare Plastics Recycling Council (HPRC) will help foster more sustainable practices and innovation across the healthcare industry. On February 11, 2020, Amcor is leading the way in the multivitamin category with the development and launch of the segment’s first PET container made from 100% post-consumer recycled content (PCR) resin.
FAQs
The global containers & packing market is segmented based on product, application, and region.
The global market is driven due to rise in customer preference and high preference towards processed and packaged foods
The market in North America accounts highest revenue share to the global containers & packing market due to growing demand for advanced technologies and increasing geriatric population
For instance, On February 17, 2020, Amcor’s partnership with the Healthcare Plastics Recycling Council (HPRC) will help foster more sustainable practices and innovation across the healthcare industry. On February 11, 2020, Amcor is leading the way in the multivitamin category with the development and launch of the segment’s first PET container made from 100% post-consumer recycled content (PCR) resin.