Packaging plays an important role in adding value to the product. Increasing demand for protective packaging from the food and pharmaceutical sectors in order to enhance the shelf life of the finished goods is expected to have a positive impact on the growth of the market. Plastic packaging is increasingly preferred due to its innovative visual appeal for consumer attraction and convenience. Changing lifestyle and food preferences in emerging economies including China and India are expected to expand the scope of convenience foods, which, in turn, will promote the utility of packaging.
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The PP boxes are widely finds its valuable application in various packaging sectors. Polypropylene Boxes popularly known as PP boxes also known as polyprotein is a thermoplastic polymer. These are manufactured in various applications for packaging a considerable number of personal goods including textiles, stationery, plastic parts and reusable containers of various types, laboratory equipment’s, loudspeakers, automotive components and polymer banknotes. Highly attractive and easy to carry, these attractive packaging is the reason that has increased its demand.
The global plastic container market size was valued at USD 85.5 billion in 2018. Plastic containers are expected to witness substantial growth as this packaging type is easy to handle and lightweight. Various manufacturers including L’Oréal, Unilever, and PepsiCo are increasingly using plastic packaging due to its lower cost of production. Moreover, innovation in advanced materials such as LLDPE, coupled with the increasing importance of cost-effectiveness, is expected to expand the market reach.
Prompt Rise In Demand:
Increasing demand for lightweight packaging has led companies to develop alternative solutions. The shelf life of the product can be extended by protecting the product from oxygen, moisture, and other potential agents such as microorganisms. Therefore, plastic containers are those protective mediums that have superior barrier properties and can protect the product from various deteriorating agents.
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The rising importance of e-commerce as a shopping medium at a global level owing to the increasing penetration of smartphone users is expected to play a crucial role in expanding the scope of packaging. Falling crude oil prices at a global level in light of increasing inventory levels in OPEC countries are expected to ensure the availability of plastic resin as feedstock in low prices for container manufacturing firms.
Global Plastic Packaging Market:
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The global plastic packaging market size was valued at USD 348.08 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.2% from 2021 to 2028. Rapidly growing key application industries including food & beverages, pharmaceuticals, and personal & household care are driving the product demand. Moreover, the rising penetration of organized as well as e-retail across the world is fueling the growth of the market. Plastic offers both flexible & rigid, transparent, and lightweight forms of packaging on account of which the key application sectors primarily prefer it over its counterparts, such as metal or glass. Furthermore, engineered plastic can survive in extreme environments and does not degrade in extreme temperatures, thus preserving the integrity of products, such as food & beverages and cosmetics.
Conclusion:
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