Global Plastic Packaging Bags Market Insight

According to the WK-chem Research “Global Plastic Packaging Bags Professional Survey Report 2022, Forecast to 2027”, Compared to other packaging products, consumers have shown an increasing inclination toward plastic packaging, as plastic packages are lightweight and easier to handle. Similarly, even the big manufacturers prefer to use plastic packaging solutions because of their lower cost of production. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 3.7% base on WK-chem Research regression analysis model.

Analysts’ Viewpoint:

“Higher demand for flexible and functional packaging, largely for packaged food, frozen foods and beverages, is projected to positively impact segment growth in the near future. Furthermore, rapidly increasing use of rigid packaging containers and canisters for industrial applications in construction, energy, and automotive sectors is expected to benefit market growth over the forecast period. Increasing penetration of bottles and pouches in medical applications is also expected to benefit market growth. These products are being used for storage in the form of medicine organizers and packaging of medicines and drugs, on account of better chemical resistance properties.” said Mike White, Senior analyst, Chemical & Material Market Research Center in WK-chem Research.

Market insight:

Plastic bags are a type of packaging material that the consumer can reuse for other purposes, such as garbage or animal feed. Plastic bags are made from polyethylene and polypropylene plastics, which are either thermally molded (for example grocery store shopping bags) or extruded in layer form (such as dry-cleaning wrap). They are popular because they provide low-cost, lightweight protection against dirt and dust. The factors which drive the plastic bag market are increasing awareness of environmental hazards, changing lifestyles, and rising purchasing power. The growth rate of this industry is higher in developing countries due to the lack of waste disposal facilities and the unavailability of cloth bags. Plastic will be an ideal alternative for traditional packaging materials such as paper or cardboard provided that the issue related to the disposal of plastic bags is resolved.

Competition Landscape:

This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Plastic Packaging Bags companies that include Sealed Air Corporation (US), Amcor (Australia), Berry Global Inc. (US), Mondi (South Africa), Sonoco (US), Huhtamaki (Finland), Coveris (Austria), Transcontinental Inc. (Canada), and Clondalkin Group (The Netherlands), among many others.

Segmentation of Plastic Packaging Bags Market:

By type, the Plastic Packaging Bags market can be segmented into Polyethylene (PE), Polyethylene terephthalate (PET), Polypropylene (PP), Polystyrene (PS) and Expanded polystyrene (EPS), Polyvinyl chloride (PVC) and Other Rigid Plastic Packaging Materials. Based on type, the Polyethylene (PE) segment is expected to be the largest market for flexible plastic packaging. The dominance of this segment can be attributed to the increasing demand for such products in various applications in the food, beverage, pharmaceutical, personal care, and cosmetic industries. The increase in demand for pouches can be attributed to the increased demand for lightweight and convenient packaging solutions.

On the basis of application, the Plastic Packaging Bags market can be segmented into Food, Beverage, Healthcare, Cosmetics and Personal Care and Other End-User Industries. The food segment, is the largest source of demand for PET packaging products. Food packaging is one of the largest users of plastics. The demand for rigid plastic packaging for the food industry is witnessing demand, as they are increasingly replacing traditional materials such as paperboard, metals, and glass, owing to their beneficial properties, such as lightweight and reduced cost. The food packaging segment includes packaging solutions for sauces and condiments, dairy products, pickles and syrups, jam, processed vegetables and fruits, and baby food. In 2020, a continued transparency in food packaging is seen trending. Going beyond just the listed ingredients on the label, consumers also want to see the physical product before purchase. Polyethylene terephthalate (PET) bottles are taking over for glass in the single-serve ketchups, condiments and barbecue sauce markets. Consumers, especially millennials, are becoming more aware of the impact of food production, food packaging, and food waste on the environment.

Plastic Packaging Bags Market: Regional Analysis

In terms of geography, the global Plastic Packaging Bags market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America is one of the fastest-growing regions when it comes to plastic packaging. Packaging industry in the North American region has undergone a drastic change in the recent years and the growth of e-commerce, along with innovations in digital printing, and sustainability are driving the market. Due to this, there has been an increased demand for sustainable flexible packaging. For instance, according to Flexible Packaging Association, most of the consumers in North America are keen to pay more for tangible and functional packaging benefits, such as product protection, shipping friendly, and supply chain efficacy, among others. Flexible packaging is mainly used for food. The US flexible packaging industry is witnessing a healthy growth, as the industry was able to implement innovative solutions for the many packaging challenges it faced. According to the Flexible Packaging Association, brand owners are taking on films, pouches, and bags as a go-to packaging solution, acknowledgements in part to extensive acceptance by American consumers. The United States holds the key market share in the market studied, due to the existence of established industries, like pharmaceutical and food and beverage. Due to the changing consumer habits, the beverage industry in the United States has noticed a substantial growth.

Cagr: 3.7%

Largest share area：North America

Largest share country：the Unite States

Product Type：Polyethylene (PE), Polyethylene terephthalate (PET), Polypropylene (PP), Polystyrene (PS) and Expanded polystyrene (EPS), Polyvinyl chloride (PVC) and Other Rigid Plastic Packaging Materials

Application：Food, Beverage, Healthcare, Cosmetics and Personal Care and Other End-User Industries

Leading Company：Sealed Air Corporation (US), Amcor (Australia), Berry Global Inc. (US), Mondi (South Africa), Sonoco (US)