LONDON--(BUSINESS WIRE)--The global polyethylene packaging market is expected to post a CAGR of more than 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The market is witnessing strong demand for HDPE bottles from the packaged bottled products industries such as milk and juices. This is because they are economical, impact-resistant, and provide a good moisture barrier. They also allow more printing options and are available in multiple colors compared to other substitutes such as PET. These factors help in product differentiation. Moreover, the high recycling capability of HDPE bottles has further increased their demand in the packaging industry. Therefore, the rising demand for HDPE bottles is one of the key factors driving the growth of the global polyethylene packaging market.
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As per Technavio, the increasing adoption of bioplastics 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 Polyethylene Packaging Market: Increasing Adoption of Bioplastics
Growing concerns for sustainability of the environment are driving market vendors to introduce products made from biodegradable materials, such as cellulose. Vendors are also using renewable sources such as bioethanol to produce bioplastics to reduce their carbon footprint. Moreover, the production of bioplastics consumes significantly lesser amounts of energy and emits fewer greenhouse gases as compared to the production fossil fuel-based plastics. This trend is expected to positively impact the growth of the global polyethylene packaging market during the forecast period.
“Increase in mergers and acquisitions and new product launches by vendors will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Polyethylene Packaging Market: Segmentation Analysis
This market report segments the global polyethylene packaging market by type (HDPE and LDPE), application (food and beverage, medical, and others), and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the increasing demand for LDPE packaging from the F&B industry in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
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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