Plastic Packaging Market in APAC 2015-2019
About Plastic Packaging
Plastic packaging refers to the packaging of F&B, pharmaceuticals, chemicals, and other consumer products. Plastic bottles and containers are non-corrosive, light, and relatively cheap. Besides, plastic can be molded into a variety of shapes and dimensions, becoming highly suitable for innovative and utility-based packaging. The inert nature of plastic, and its ability to preserve products for a long time make it a popular choice in the F&B industry.
Technavio analysts forecast the plastic packaging market in APAC to grow at a CAGR of 6.63%, in terms of revenue, during 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the plastic packaging market in APAC for the period 2015-2019. To calculate the market size, the report considers revenue generated from the following two major segments of plastic packaging:
Technavio Announces the Publication of its Research Report – Plastic Packaging Market in APAC 2015-2019
Technavio recognizes the following companies as the key players in the Plastic Packaging Market in APAC: Amcor Ltd., Bemis Co. Inc., Berry Plastics Corp., and Sealed Air Corp.
Other Prominent Vendors in the market are: AEP Industries, Cangnan Hualian Flexible Packaging Company, Chaoan Danqing Flexible Packaging & Printing Company, Constantia Flexibles, Coveris, Daibochi Plastic, Dongguan Songhui Packaging Material Company, Graham Packaging, Guangzhou Amy Plastic Tube Company, Heshan Zhongxing Fuhe Baozhuang Gongsi Company, Huangshan Sinoflex Packaging Company, Huhtamaki, Jimo Jinlong Plastic Compound Color Printing Company, JL Packaging, Linyi Chifeng Packaging Company, Rasik Polyflexil, Shanghai Grand Technology Company, Shanghai Xiangwei Packaging Company, Supreme plastic packaging, Taizhou Gerry Plastic Company, Xinlei Flexible Packaging Company, and Zhejiang Chengde Package Company.
Commenting on the report, an analyst from Technavio’s team said: “The shift from rigid to flexible plastic packaging is a major trend being witnessed in this market. Flexible packaging takes into consideration easy dispensing and re-closure, can extend product visibility, and can display high-end graphics.”
According to the report, one driver that promotes growth in this market is the growing demand from F&B sector. Products in this sector are fast moving and need to be light and cheap to reduce transportation costs and to facilitate instant disposal. In addition, different consumption habits give rise to the need for innovation in packaging, which is best implemented in plastic packaging.
Further, the report states that the increasing production costs of plastic packaging materials is one of the many challenges faced by this market. The cost of production is rising because of the increase in the price of raw material procurement, rising energy costs, and high prices of plastic resins needed to manufacture these items.