LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Plastic Packaging Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the packaging and labeling industry. This report breaks down the data and analysis behind the procurement of plastic packaging and acts as an all-inclusive guide for making smart purchasing decisions.
“The increasing preference of end-user industries to attain cost-advantages and the growth in the consumption of packaging products are the factors influencing the growth of plastic packaging market,” says SpendEdge procurement analyst Bhuvaneshwari Udayakumar. “APAC is considered as one of the key regions to achieve substantial growth, owing to the growing demand from cosmetics, food and beverage, and pharmaceutical industries,” added Bhuvaneshwari.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Plastic Packaging Market:
- Increase in production of small SKU packages
- Growing focus on anti-counterfeit packaging solutions
- Rise in suppliers' focus on biodegradability of plastic packages
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Increase in production of small SKU packages
Due to the frequent lifestyle changes, there has been a considerable rise in the on-the-go consumers, who are preferring convenient and small-sized products. This rise in the demand for small SKUs of products will result in increased production.
Growing focus on anti-counterfeit packaging solutions
Over the last few years, the industry is experiencing a rise in the anti-counterfeiting packaging solutions. These solutions will further help the businesses mitigate counterfeiting and the duplication of products.
Rise in suppliers' focus on biodegradability of plastic packages
In the plastic packaging industry, there has been a growing focus on biodegradability in the packaging of the products. This rise in the biodegradability of packaging materials will lead to low landfill wastes and further helps the buyers comply with industry standards.
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