What is Plastic Food and Beverage Packaging Market Scope?
The growing packaged food and beverage industry owing to changing lifestyle and increasing penetration of organized retail is principally expanding the product application scope. From airtight wraps to shelf-stable bottles and containers, plastic packaging plays a key role in delivering a safe food supply from farm to table and is a material of choice for freezing foods for longer-term storage. Many major types of plastic resins used in packaging are recyclable. Most frequently, community recycling programs collect plastic bottles made from PET and HDPE, but many communities are expanding their programs to collect additional types of plastics. Although most communities instruct residents to recycle by the shape of an item (e.g., bottles, containers, caps, lids), some communities also refer to the resin identification code.
The Plastic Food and Beverage Packaging market study is being classified by Type (Flexible Packaging and Rigid Packaging), by Application (Meat, Vegetables and Fruits, Deli and Dry Product and Other) and major geographies with country level break-up.
The market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. Research Analyst at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Plastic Food and Beverage Packaging market throughout the predicted period.
Sealed Air Corporation (United States), Amcor (Australia), Berry Global Inc. (United States), Mondi (South Africa), Sonoco (United States), Huhtamaki (Finland), Coveris (Austria), Transcontinental Inc. (Canada) and Clondalkin Group (The Netherlands) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global Plastic Food and Beverage Packaging market by Type, Application and Region.
On the basis of geography, the market of Plastic Food and Beverage Packaging has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Influencers and their development strategies
In June 2019, CCC Packaging announced the acquisition of a U.S. packaging solutions provider, Tri-State Distribution. The acquisition will help the company to build strong its pharmaceutical packaging segment by merging the products of the acquired company into its own portfolio.
In the United States, the Food and Drug Administration regulates the safety of food-contact packaging, including plastics used in contact with food. Many plastics, such as polystyrene and polyethylene, have been used in food packaging for decades. All food-contact packaging materials must pass FDA’s stringent approval process the agency must find them safe for use in a specific packaging application before they can be put on the market.
Influencing Market Trend
- Growing consumer awareness related to eco-friendly packaging
- The growth in food & beverages and healthcare industries globally
- Rapid growing demand for convenient packaging from various industries such as food and beverages and personal care
- Urbanization, cost efficiency, and product safety
- Sustainable and new flexible plastics packaging solutions
- A better substitute for traditional packaging materials
- Awareness campaigns for minimizing the usage of plastic
- The non-recyclable nature of plastics restricts its usage
- Strengthening of government regulations related to packaging
Key Target AudienceGovernment Regulatory Bodies, Private Research Organization, Government Research Organization and Others
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