Packaging Materials Market to grow at 3% CAGR up to 2024
Date: 2018-12-28   Author: Rahul Varpe  Category: #market

Packaging Materials Market to grow at 3% CAGR up to 2024

The qualitative research study conducted by Global Market Insights, Inc. titled “Packaging Materials Market” provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the Global Packaging Materials Market.

Packaging Materials Market size will surpass USD 1.3 trillion by 2024. Developments in the Asia Pacific food & beverage sector will be a major reason behind the growth of packaging materials market growth. The Asia Pacific region includes a large number of emerging economies such as China, India, South Korea, etc. These countries have been witnessing increased consumption of food & beverage products which will in turn drive packaging materials market demand.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/2482

Consumption of beverages in Asia Pacific has also been on the rise in the last two decades. The region is the largest beverage market in the world accounting for more than 40% of the worldwide consumption. Among all beverage products, alcoholic drinks were an important segment in the region with beer being the major product. Beer consumption in Asia Pacific is the highest in the world while China is the largest market among all countries in the world.

Annual consumption has been on the rise in some Asia Pacific countries such as Vietnam, India, and South Korea. The consumption of non-alcoholic beverages such as sugar sweetened drinks, health drinks, and fruit juices are also on the rise in Asia Pacific owing to increasing income levels and changing consumption trends. These factors will drive demand for beverage packaging materials such as rigid plastic, metal, and glass and will augment the packaging materials market growth through the forecast period.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2482

Bags, pouches & wraps is the largest product segment in the packaging materials market as they are used for packaging a wide variety of items including food, detergents, beverages, etc. This segment will cover over one-third of the overall packing industry in terms of value. Characteristics such as lower comparative costs, ease of storage and handling, along with the availability of many specialty products like retort packaging, shrink films, etc. will augment bags, pouches & wraps packing materials market growth in forecast timeframe.

Among the end-users in the packaging materials market, beverage segment is likely to grow by a CAGR above 4% to reach a market value exceeding USD 300 billion by 2024. Rising popularity of health drinks, plant-based waters, sugar sweetened beverages and alcoholic drinks will be the key factor behind this segment’s industry development. Increasing consumption of packaged drinking water in across the globe also augment this end-user industry’s development throughout the forecast timeframe.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/packaging-materials-market

The global packaging materials market has several key global players along with a large number of smaller regional manufacturers. Some major manufacturers of packing materials include Ball Corporation, Amcor, Crown, Mondi, Bemis, Owens-Illinois, Sealed Air, and many more. Major companies in the packing industry rely on production capacity expansions and acquisitions to strengthen their industry positions. For example, Amcor’s expansion of the production capacity of PET bottles in its Texas plant in 2017 was intended to cater to the needs of North American customers and is likely to help the company to increase its business in the region.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: [email protected]  
Web: https://www.gminsights.com

Read More Related News @ http://packingmaterials.org/

 



About Author


Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

Read More

More from Rahul


Post Recommendents

WAN Edge Infrastructure Market, Share, Application Analysis, Regional Outlook, Competitive Strategies & Forecast up to 2024
Author: Partha Ray

Market Study Report, LLC, has expanded its reports' database with a new research study on ' WAN Edge Infrastructure market' which features a precise summary of the business valuation, SWOT Analysis, market size, revenue estimation and ...


Vulnerability Assessment Solutions Market to witness high growth in near future
Author: Partha Ray

Market Study Report, LLC, has added a research study on ' Vulnerability Assessment Solutions market' which offers a concise summary regarding market valuation, market share, regional spectrum, revenue estimation and SWOT analysis of this b...


Global Utilities Customer Information Systems Market Size, Analytical Overview, Growth Factors, Demand, Trends and Forecast to 2024
Author: Partha Ray

The ' Utilities Customer Information Systems market' study Added by Market Study Report, LLC, delivers an in-depth outline regarding the powerful trends existing within the industry. The study also comprises significant information concern...