Plastic Packaging Market Size, Share & Trends Report

Plastic Packaging Market Size, Share & Trends Analysis Report By Material, By Product (Rigid, Flexible), By Technology (Injection Molding, Extrusion, Blow Molding, Thermoforming), By Application, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-2-68038-516-8
  • Number of Report Pages: 215
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2023
  • Forecast Period: 2023 - 2030 
  • Industry: Bulk Chemicals

Research Methodology

A three-pronged approach was followed for deducing the plastic packaging market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for plastic packaging market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of plastic packaging market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Plastic Packaging Market Categorization:

The plastic packaging market was categorized into four segments, namely product (Rigid, Flexible), technology (Injection Molding, Extrusion, Blow Molding, Thermoforming), application (Food & Beverages, Industrial Packaging, Pharmaceuticals, Personal & Household Care), regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The plastic packaging market was segmented into product, technology, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The plastic packaging market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fifteen countries, namely, the U.S.; Canada; Mexico; Germany; the U.K.; France; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Plastic packaging market companies & financials:

The plastic packaging market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Amcor Plc - Amcor Plc was established in 1860 and is headquartered in Zürich, Switzerland. It provides packaging solutions worldwide with a primary focus on Western Europe, North America, Australia, and New Zealand. The company is listed on the Australian Securities Exchange as well as other international stock market indices including the FTSE4Good Index Series, Ethibel Excellence Investment Register, MSCI Global Sustainability Index, CDP Climate Disclosure Leadership Index (Australia), and the Dow Jones Sustainability Index. The company mainly operates through two business segments, namely flexible packaging and rigid packaging. Some of the key offerings of the company under these segments include rigid containers, flexible packaging pouches, closures, and specialty cartons. These products find applications in personal care, home care, pharmaceuticals, food & beverages, medical, and other segments.

  • Sealed Air - Sealed Air manufactures food, consumer care, and other packaging solutions. The company was established in 1960 and is headquartered in North Carolina, U.S. It is a public company and listed on the New York Stock Exchange under the trade name SEE. The company primarily operates through its two business segments, namely food and protective. The food segment largely serves perishable food processors, predominantly in fresh red meat, smoked, and processed meats; poultry; and dairy (solids and liquids) markets worldwide. Food packaging solutions are marketed under brands, such as Cryovac and Cryovac Grip & Tear. The protective segment offers packaging solutions, such as automated packaging systems, postal solutions, surface protection, void fill solutions, blocking & bracing, cushioning solutions, and temperature-controlled solutions.

  • Coveris - Coveris was founded in 2013 and is headquartered in Vienna, Austria. It is a privately held company and its operations are classified into three key units, namely films, flexibles, and labels & board. The company offers an extensive range of plastic packaging products including films, pouches, bags, trays, and barrier films. It caters to a wide range of industries including food & beverage, household & personal care, healthcare, agricultural & chemical, and pet care. The company has a strong presence in Europe and caters to international clients. It has 29 plants throughout Europe, Middle East & Africa with locations in Germany, Italy, France, Egypt, Hungary, the UK, and others. As of 2020, the company had 4,200 employees and over 4,500 clients across the world.

  • Sonoco Products Company - Sonoco Products Company manufactures industrial and consumer packaging products and offers packaging services. The company was established in 1899 and is headquartered in South Carolina, U.S. It is a public company and listed on the New York Stock Exchange under the trade name SON. The company operates through its four business segments, namely consumer packaging, paper & industrial converted products, display & packaging, and protective solutions. Consumer packaging segment accounted for a 45.9% share of the total revenue in 2020. It offers rigid paperboard containers, adhesive tubes, and closures for metal cans, thermoform cups, trays and bowls, injection molded containers, high-barrier films, lidding films, modified atmosphere packaging, printed flexible packaging, rotogravure cylinder engraving, global brand management, and labels.

  • CCL Industries - CCL Industries was founded in 1951 and is headquartered in Ontario, Canada. The company specializes in the production of labels and packaging products for industries including home & personal care, premium food & beverage, healthcare & specialty, automotive, and electronics & consumer durables. It has corporate offices in Toronto, Canada and Massachusetts, U.S. In 2020, the company had approximately 22,200 employees in its 191 manufacturing facilities spread across North America, Europe, Latin America, Asia, and Australia. The company has presence in 42 countries over 6 continents. In 2020, the company generated 42% of total sales from North America and 32% of sales from Europe.

  • WINPAK Ltd. - WINPAK LTD., established in 1977, is headquartered in Winnipeg, Canada. The company operates as a subsidiary of The Wipak Group. It is a public company and trades under the name WPK on the Toronto Stock Exchange. The major markets catered by the company include food & beverage, industrial, healthcare, and packaging machinery. The company mainly operates through three business segments, namely rigid packaging and flexible lidding, flexible packaging, and packaging machinery. The rigid packaging and flexible lidding segment includes rigid containers and lidding and specialized printed packaging products.

  • Alpha Packaging - Alpha Packaging is engaged in the manufacturing of plastic bottles and jars. It was founded in 1969 and is headquartered in Missouri, U.S. The company mainly manufactures bottles and jars from materials, including PET, HDPE, PP, PVC, and PLA, and corn-based bioplastics. Its packaging products primarily cater to sectors, such as personal care, nutritional supplements, food & beverage, pharmaceutical, and chemical. Along with its manufacturing capabilities, the company also offers in-house design and engineering services. It has nine bottle manufacturing facilities located in St. Louis, Cleveland, Bethlehem, Salt Lake City, Jacksonville, Ypsilanti, Vancouver, Roosendaal, and Etten-Leur.

  • Berry Global, Inc. - Berry Global, Inc. is a global consumer & industrial packaging company, founded in 1967 and headquartered in Indiana, U.S. It is a public company and listed on the New York Stock Exchange with an employee size of over 47,000 as of 2020. The company has segmented its business into three divisions, namely engineered materials; health, hygiene & specialties; and consumer packaging. Engineered materials division includes films, liners, tape products, retail bags, and PVC films. Health, hygiene & specialties division includes baby care and other hygiene products that are produced as per the regional demand.

  • Constantia Flexibles - Constantia Flexibles, established in 1912, is a Vienna, Austria-based manufacturer of flexible packaging products primarily serving the domestic as well as global food, pet food, and pharmaceutical companies across the world. The company operates through two business segments, namely Consumers and Pharma. The company classifies its geographic operations into four regions, namely Europe, the Americas, the Middle East & Africa, and Asia Pacific. In 2020, the Europe region contributed towards significant sales revenue for the company, followed by America, Middle East & Africa, and Asia Pacific.

  • Mondi - Mondi, a global paper and packaging company, was founded in 1967 and is headquartered in Addlestone, UK. The company mainly operates through four business segments, namely corrugated packaging, flexible packaging, engineered materials, and uncoated fine paper. It offers over 100 paper and packaging products customized into over 100,000 different packaging solutions for various end-use industries. The corrugated packaging business unit includes key products, such as pulp, virgin and recycled containerboard, and other corrugated solutions, where it majorly serves the chemicals, industrial, agriculture market.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Plastic Packaging Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Plastic Packaging Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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