European market for plastic packaging
The European plastic packaging market is expected to offer an additional $ 22.7 billion opportunity with market expansion 1.4 times the current market value over the forecast period in connection with plastic packaging solutions in European countries
Europe Plastic Packaging Market: Introduction
The Transparency market research provides key insights into the European Plastic Packaging Market in its published report that includes industry analysis, size, share, growth, trends, and forecast for Europe 2020–2030. In terms of sales, the European plastic packaging market is expected to have a CAGR of. to grow ~ 4% During the forecast period, TMR provides detailed insights and forecasts on the European Plastic Packaging Europe Market report due to several factors
Plastic packaging, including flexible and rigid packaging solutions, is mainly used to ensure the product life of a wide variety of industrial and non-industrial goods during storage and transportation. Thus, the convenience of use and availability of custom solutions for rigid and flexible plastic packaging have made a significant change in the way goods are packaged and are expected to experience significant appeal in the foreseeable future. The TMR team has analyzed the demand and supply of plastic packaging in European countries in terms of material, packaging and end use. It turns out that the flexible plastic packaging formats are in high demand in the food and beverage, pharmaceutical and cosmetics industries. For this reason, flexible packaging is expected to play a major role in the target region during the forecast period.
Space restrictions increase the demand for compact plastic packaging formats
Leading and small industrial companies operating in the European market are focused on reducing the cost of transport for a wide range of food and non-food products. In addition, packaging manufacturers in Europe are also developing packaging solutions, especially rigid packaging products that are reusable and take up less space during transport or storage.
- Greif Inc., one of the leading manufacturers of industrial packaging, has, for example, developed plastic drums with a conical design that reduce shipping costs and optimize storage space in the warehouse. The increasing preference for such space-saving rigid packaging solutions in order to reduce the overall transport costs of food and non-food products is significantly driving the growth of the European market for plastic packaging.
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Demand for consumer convenience and eye-catching luxury packaging that creates exponential profit opportunities for key players
Packaging solutions made of plastic, especially flexible packaging solutions, offer a wide range of customization options with different barrier and sealing properties. These features not only provide flexibility in design, but also improved product safety and visibility compared to others. A shiny, shiny appearance of flexible packaging solutions such as pouches, sacks, pouches, pouches and wrappers increases the marketing impact of product packaging. Consumer friendliness is one of the most important attributes of flexible packaging from the customer’s point of view, while brand visibility, attractive packaging and durability are priorities for packaging manufacturers. Individual surveys showed that consumers are willing to pay more for additional functions such as “easy to store”, “easy to open” and “possible product life”. The increasing demand for such convenience-oriented flexible packaging solutions in Europe is clearly driving market growth.
Availability of alternative packaging solutions to limit market growth
Manufacturers who are active in the European packaging industry are ready to switch to the further development of packaging formats. Although a significant proportion of end users in European countries use rigid and flexible plastic packaging solutions, there is sufficient availability of alternative packaging solutions. Extensive range of packaging solutions, in particular rigid packaging solutions made of metal, glass, wood and paper are used primarily because of their very sustainable and recyclable orientation. The consistent introduction of these alternative packaging solutions has had a significant impact on the sale of plastic packaging solutions in Europe. In addition, the significant proportion of metal and paper packaging manufacturers in Europe promote these environmentally friendly packaging solutions. The development and introduction of such alternative packaging solutions in European countries is likely to limit the sale of plastic packaging solutions in the foreseeable future.
Europe Plastic Packaging Market: Competitive Landscape
Strong competition between the main players is forecast in the European plastic packaging market. This market includes a few established players. In addition, several other local and small manufacturers are entering the market for plastic packaging, which, with the increasing demand for plastic packaging solutions, leads to a significant increase in sales. Some of the major players in the European plastic packaging market are Berry Global Group, Inc, Amcor Plc, Mondi Group Plc, Sonoco Products Company, Sealed Air Corporation, Coveris Holdings SA, AptarGroup, Inc, Schur Flexibles Holding GesmbH, Huhtamäki Oyj, among others Constantia Flexibles Group GmbH, Greif, Mauser Packaging Solutions and SCHÜTZ GmbH & Co. KGaA.
The animal structure is formulated on the basis of segment sales and the market share of the companies. According to the animal structure, Berry Global Group, Inc, Amcor Plc, Mondi Group Plc, Huhtamäki Oyj and Mauser Packaging Solutions are Tier 1 players in the European plastic packaging market. These leading companies are pursuing key strategies such as business expansion, acquisitions and product launches to strengthen their position in the European plastic packaging market. In addition, tier 2 players are SCHUTZ GmbH & Co. KGaA, Sonoco Products Company, Greif, Sealed Air Corporation, AptarGroup, Inc and Schur Flexibles Holding GesmbH.
CEFLEX guidelines help advance multi-material products and flexible packaging
Plastics increase the ecological footprint. However, completely replacing plastic in packaging applications is potentially challenging and will take several years. Manufacturers in the European plastic packaging market adhere to the CEFLEX (The Circular Economy for Flexible Packaging) guidelines, in which SUPRAVIS SA and other European countries are reinventing flexible packaging solutions for consumers. They use different materials and polymers that contribute to a circular economy.
It is expected that companies in the European plastic packaging market will invest in research to develop multi-material product profiles and validate their cleaning and processing in chemical recycling.
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Medical, optical packaging requires experience in blow molding and injection molding
Pharmaceuticals & Healthcare is predicted to dominate the second highest revenue among all end-use applications in the European plastic packaging market. The market is projected to reach $ 73 billion by 2030. Manufacturers are gaining knowledge in new product development, engineering services using CAD (Computer-Aided Design) and affordable short prototypes to expand their revenue streams in pharmaceutical and healthcare applications.
Extensive experience in blow molding and injection molding helps companies in the European plastic packaging market to develop growth opportunities in the medical, military, optics and aerospace sectors. They are increasing their production capacities in lockable, solid plastic containers that prevent foreign bodies from contaminating the medication they contain
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