LONDON--(BUSINESS WIRE)--The global plastic pigments market is expected to post a CAGR over 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Various end-user industries such as cosmetics, consumer goods, and F&B are witnessing an increase in the demand for packaging pigments for various packaging applications. The use of plastic pigments in these industries not only enhances the appearance of packaged goods but also improves the physical properties of products by imparting high durability and opacity to them. It also helps manufactures promote brand awareness by increasing product differentiation. Thus, the growth in the packaging industry will boost the plastic pigments market during the forecast period.
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As per Technavio, the innovations in the packaging industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Plastic Pigments Market: Innovations in the Packaging Industry
Vendors in the packaging industry are increasingly focusing on innovations and product development to attract more consumers. This is encouraging the adoption of plastic pigments, not only to improve the aesthetics of the packaging material but also provide intelligent packaging, active packaging, and modified atmosphere packaging (MAP). The use of MAP packaging materials increases the shelf life of packaged products by preventing contamination. Thus, with such innovations in the packaging industry, the market for plastic pigments is expected to showcase a positive outlook during the forecast period.
“Increase in R&D activities and the expansion of production capacities of plastic pigments are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Plastic Pigments Market: Segmentation Analysis
This market research report segments the global plastic pigments market by type (inorganic and organic) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the growing use of plastic pigments to package F&B and impart colors to packaging materials and improve aesthetics.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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