The persuasive Converted Plastic Packaging Market business report has estimations of CAGR values which are very important for businesses in deciding upon the investment value over the time period. The precise and state-of-the-art information provided via this report helps businesses get aware about the types of consumers, consumer’s demands and preferences, their point of view about the product, their buying intentions, their response to particular product, and their varying tastes about the specific product already existing in the market. The worldwide Converted Plastic Packaging Market report brings into focus studies about market definition, market segmentation, and competitive analysis in the market.
With the study of competitor analysis, Converted Plastic Packaging Market industry can get knowledge of the strategies of key players in the market that range from new product launches, expansions, agreements, joint ventures, partnerships, to acquisitions. The comprehensive data and information provided in the large scale Converted Plastic Packaging Market report can be utilized by Converted Plastic Packaging Market industry to be acquainted with the present and upcoming opportunities and clarify the future investment in the market. This market research report helps in growing sales with new thinking, new skills, and innovative programs and tools. Converted Plastic Packaging Marketing report will act as a sure shot solution to the challenges and problems faced by Converted Plastic Packaging Market industry.
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One of the world's fastest-growing industries is the packaging. All the goods are packaged using various materials, including plastic, paper, and even metal, depending on the item. One of the essential types of packaging is converted packaging. The rising demand from the end-user industries is still driving the adoption of converted plastic packaging solutions to increase shelf life. Market players are creating cutting-edge solutions to meet consumer demand as bakeries now produce a wider variety of bread and more items, as about 80% of bakery products are sold in converted flexible packaging.
Data Bridge Market Research analyses that the converted plastic packaging market, valued at USD 2,244.32 million in 2022, will reach USD 4,123.41 million by 2030, growing at a CAGR of 7.9% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Market Definition
Converted packaging uses non-rigid materials to package products, enabling more affordable and customizable options. It is a modern method used by several end-user industries in the packaging industry, but it has gained popularity because of its high effectiveness and low cost. Bags, pouches, liners, wraps, roll stock, and other flexible products, produced from paper, plastic, film, aluminum foil, or any combination of those materials fall under converted plastic packaging.
Some of the major players operating in the converted plastic packaging market are:
- Amcor plc (Australia)
- ALPLA (Austria)
- DS Smith (U.K.)
- Klöckner Pentaplast (Germany)
- Berry Global Inc.(U.S.)
- Pactiv Evergreen Inc.(U.S.)
- Sonoco Products Company (U.S.)
- Honeywell International Inc. (U.S.)
- ProAmpac. (U.S.)
- Tetra Pak International SA (Switzerland)
- Sealed Air (U.S.)
- Mondi (U.K.)
- Canada Colors and Chemicals Limited (Canada)
- Coveris (U.K.)
- Huhtamaki (Finland)
- WINPAK LTD. (Canada)
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Drivers
- Demand from consumers for smart packaging is rising
The demand for packaging that conveys and upholds product quality throughout the supply chain is the primary cause of this rise. Smart labeling and augmented reality are two methods for incorporating innovative packaging into current formats. These labels not only act as a deterrent to theft but also assist in tracking down items as they move throughout the distribution network. Smart labels can notify a brand or a customer when a product monitors temperature and quality. Consumers' urge to hoard and their impulsive purchases of food, drink, and home care products has increased the demand for packaging. Since smart packaging incorporates converted plastic as packaging materials, the above factors will work in the market's favor.
- Improved converted packaging films that put durability and tear resistance, food safety, and freshness first
The main driving force behind produce packaging is convenience. Packaging with convenience is becoming more and more in demand from consumers. Since converted plastic films have distinct barrier properties that help with improved protection and shelf life, they are increasingly used in food and beverage packaging. Manufacturers are developing advanced packaging films focusing on tearing resistance, food safety and freshness, secure delivery and storage, and environmental protection from light, moisture, temperature, and gas. Converted packaging films preserve freshness while extending perishable goods' shelf life.
Global Converted Plastic Packaging Market Scope
The converted plastic packaging market is segmented on the basis of type, material, printing technology, and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Stand-Up Pouches
- Flat Pouches
- Rollstocks
- Gusseted Bags
- Wicketed Bags
- Wraps
- Others
Material
- Plastic Films
- Paper
- Aluminum Foil
- Bioplastics
Printing Technology
- Flexography
- Rotogravure
- Digital Printing
- Other Printing Technologies
Application
- Food and Beverage
- Healthcare
- Cosmetics
- Toiletries
- Industrial
- Institutional
- Tobacco Products
- Other Applications
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- The report covers all the primary mergers & acquisitions, alliances, and collaborations that have generated additional opportunities for market players or in some cases, challenges
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