Europe Plastic Packaging Market : Revenue, Opportunity, Segment And Key Trends
- According to Transparency Market Research’s latest report on the Europe plastic packaging market for the forecast period of 2020–2030, the market is estimated to be driven by product maximization and rising emphasis on research and development activities associated with plastic packaging solutions in European countries
- The Europe plastic packaging market is expected to offer incremental opportunity of US$ 22.7 Bn with market expansion of ~1.4 times of current market value during the forecast period
Rising Emphasis on Safe and Secure Transportation of Industrial and Non-Industrial Goods to Boosts Demand
- Plastic rigid packaging solutions such as IBCs, drums, jars, cans, pails, and others are predominately used in various industries, as these precisely meet the specific needs of packaging and transporting.
- Industries such as food, automotive, chemical, healthcare, and pharmaceuticals are playing the pivotal role in Europe’s industrial progress. These industries require rigid packaging solutions on a frequent basis for storage, transportation, and packaging of wide range of fragile and non-fragile cargo.
- Transportation of industrial and non-industrial goods is been the crucial challenge for European manufacturers since the past few years. Even mere mistake in shipping and handling of these goods leads to massive financial loss for manufacturers. Rigid packaging solutions made of plastic are robust, durable, customizable, and capable of secure conveyance of goods.
- The consistently rising demand for such robust yet easy to use rigid packaging solutions for safe and secure shipment of industrial and non-industrial goods across Europe is projected to uplift the Europe plastic packaging industry growth during the forecast period
eCommerce Platforms and Retail Industries Shaping Developments in Europe Plastic Packaging Market
- In the past couple of years, there is a significant increase in the number of modern retail formats such as supermarkets, convenience stores, speciality stores, and hypermarkets in Europe. Changing lifestyle, eating and drinking pattern, and increasing per-capita disposable incomes of consumers have boosted growth of the Europe organized retail sector.
- Rapid penetration and expansion of organized retail sector in Europe have uplifted the demand and consumption of products, which require packaging solutions, including bags, pouches, trays, cups, sachets, bottles, and others.
- Growing demand for packed food and non-food products across Europe drives the retail sector growth as well as creates outstanding demand for flexible packaging solutions, which is expected to accelerate the plastic packaging market growth significantly
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Advanced Recycling Technologies and Consumer Inclination toward PCR Plastic Packaging to Create Lucrative Avenues
- Plastic packaging products have become the integral part of daily life, as they are produced at immense scale across the globe. It is calculated that approximately 70% of all plastic products is converted into plastic waste in a short span. Improper plastic waste management across continents is one of the crucial factors that causes severe ground water and soil pollution.
- Various governments, including authorities in European countries, have taken initiatives and induced stringent rules and regulations for plastic waste management. Recycling of plastics is considered the next technically feasible option to tackle issues offered by the rapidly growing volume of plastic waste. Prominent packaging manufacturers such as Mauser Packaging Solutions and Berry Global Group, Inc are enhancing their sustainable packaging product range by designing and manufacturing plastic bottles, jars, and drums made from recycled plastics.
- In May 2020, Greif, one of the leading industrial packaging manufacturers introduced plastic drum made up of post-consumer resin (PCR) combined with virgin resin. Moreover, end-use consumers across European countries have started to prefer recyclable and recycled plastic packaging products, attributable to the increasing awareness related to the need for proper management of plastic waste. All these factors are projected to offer gratifying opportunities to prominent packaging manufacturers to design and manufacture highly recycled and recyclable rigid and flexible packaging solutions.
Europe Plastic Packaging Market: Key Findings
- As per packaging, flexible packaging segment is projected to emerge as the most lucrative segment among others. The target segment is projected to hold approximately 3/5th share of the market by the end of 2030. The demand for flexible packaging solutions in Europe is mainly driven by its convenient usage, pricing affordability, and customizable outlook.
- As per TMR analysis, food & beverage segment is expected to generate mammoth demand for plastic packaging solutions. The target segment is anticipated to create total incremental opportunity of US$ ~1.8 Bn during the next five years and also likely to expand by 1.4 times its current market value in next decade.
- In terms of country, packaging manufacturers operating in the Europe plastic packaging market can target the highly lucrative countries such as Spain, Italy, and Russia to strengthen the market position and financial revenues. Astonishing market penetration of food & beverages and pharmaceuticals sectors in these countries is promising the substantial growth prospects during the upcoming years. Moreover, Germany and the U.K. are collectively estimated to hold ~33% share of the market by the end of the forecast period. These two countries accounts for a significant usage of plastic packaging solutions, and is expected to remain major user of plastic packaging solutions by the end of 2030.
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Europe Plastic Packaging Market: Competition Landscape
- The recent study of plastic packaging market includes profiles of players such as
- Berry Global Group, Inc
- Amcor Plc
- Mondi Group Plc
- Sonoco Products Company
- Sealed Air Corporation
- Coveris Holdings S.A
- Huhtamäki Oyj
- Constantia Flexibles Group GmbH
- Mauser Packaging Solutions
- SCHÜTZ GmbH & Co. KGaA
- AptarGroup, Inc
- Schur Flexibles Holding GesmbH, etc.
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