Plastic Food Wrappers Market Size, By Product Type(Bottles and Jars, Bags and Cans, Trays and containers, Pouches), By Material(Polyethylene (PE), Polyethylene terephthalate (PET), Polypropylene (PP), Polystyrene (PS) and Expanded polystyrene (EPS), Polyvinyl chloride (PVC)), By End-User(Food, Beverage, Healthcare, Pharmaceutical, Retail, Cosmetics and Personal Care) Global Forecast 2018-2030

The Global Plastic Food Wrappers Market Overview:
The rise in the consumption of convenience foods is fueling the market for food packaging. The convenience features like easy opening, portability, or single-use packaging drives the development of food packaging for processed food items. Convenience and visual appeal are two factors that are driving the growth of the food packaging industry.

Rapidly expanding key application industries like food and beverage, pharmaceuticals, as well as household and personal care are driving demand. Additionally, the increasing popularity of organized and electronic retail in the world is driving the expansion of this market. Plastic comes in flexible as well as rigid, transparent, and lightweight packaging. This is the reason why the most important application fields prefer it over other materials like glass or metal.

Additionally, engineered plastic is able to be used in extreme environments and is not degraded in extreme temperatures, thus protecting the integrity of the products, including food and drinks and cosmetics.

Packaging is the biggest consumer segment for plastics that accounts for more than 40% of all use of plastic around the globe. Bags and bottles are the most commonly used and produced plastic food wrappers materials in the world, and it is estimated that over 2 million plastic bags that are single-use and more than one million bottles of plastic are being distributed globally every minute. This figure is predicted to grow to half a trillion in 2020.

The introduction of polyethylene Terephthalate (PET) along with high-density polyethylene (HDPE) polymers has increased the number of plastic Food wrappers applications within the category of liquid packaging. HDPE plastic bottles rank popular packaging options for fresh juices and milk products.

Additionally, the increase in the population of working women in several countries is leading to a rise in the overall need for packaged food items since these consumers have a substantial consumption capacity and a busy life.

But, due to the increasing awareness of health issues and the means to avoid water-borne illnesses, consumers are constantly buying packaged water. With the increase in demand for bottled drinking water, demand for plastic Food Wrappers is rising, which is increasing the demand for the market.

According to Vanden Recycling Ltd, there has been no decrease in the demand for PET or HDPE to be used in plastic bottles. Other polymers are also sought-after for different plastic packing applications.

The Global Plastic Food Wrappers Market Forecast:

A global Plastic Food Wrappers market size was estimated in the range of US$ 348.08 billion by 2020. The market is projected to grow at an annual compound growth rate (CAGR) in the range of 4.2% from 2021 to 2028.

Market Dynamics: Market Value Share Analysis
Global Plastic Food Wrappers Market Value Share Analysis, by Product Type:
Based on Type, The market is segmented into Bottles and Jars, Bangs and Cans, Pouches, Trays and containers, And Other Product Types

The Bottle segment is to acquire the largest market share:
The Bottle segment held the dominating position in the Global Plastic Food Wrappers Market in 2019.

This segment is rising due to its usage in medical applications and the growing need for PET bottles for water and soft drinks.

The bottled and Bags segment holds a market share exceeding 50% in the Global Plastic Food Wrappers Market.

The Bottle segment is followed by the Bags segment, and it has been showing a substantial growth in the market. Nevertheless, the overall product segment will be showing steady growth because of the rising environmental issues.

Global Plastic Food Wrappers Market Value Share Analysis, by Material:
Based on Application, The market is segmented into Polyethylene (PE), Polyethylene terephthalate (PET), Polypropylene (PP), Polystyrene (PS), Expanded polystyrene (EPS), Polyvinyl chloride (PVC), And Other Rigid Plastic Food Wrappers Materials

Polyethylene terephthalate (PET) Segment is to occupy a major share:
The Polyethylene terephthalate (PET) Segment dominates the global market. It holds major shares which exceed more than 45% in the Global Plastic Food Wrappers Market. This is due to the extensive use of Polyethylene terephthalate (PET) in the manufacturing of Bottles, which are majorly used by consumers. Therefore the demand for the PET segment is on the rise, and it shows considerable growth in the forecast period.

The Polyethylene terephthalate (PET) Segment is followed by High-density Polyethylene (HDPE) in the Global Plastic Food Wrappers Market. High-density Polyethylene Plastic Bottles is among the most liked packaging choice for fresh juice and milk products. This segment shows significant growth, which holds approx. 30% of market total share globally.

Overall demand for packaged food is on the rise due to the rising number of working women population in various countries. As these consumers directly affect the packaged food market, hence both the segment (PET and HDPE) are anticipated to grow significantly over the forecast period.

Global Plastic Food Wrappers Market Value Share Analysis, by End-User:
Based on Type, The market is segmented into Food, Beverage, Healthcare, Pharmaceutical, Retail, Cosmetics and Personal Care, And Other End-User Industries.

Food Segment would acquire Major Share and anticipated to register the significant growth:
Food segment to hold the major share, which exceeds more than 70% of the global plastic food wrappers market. For PET packaging products food segment is the largest source.

The food industry is the main market for PET packaging materials. As per the British Plastic Federation (BPF), more than 70% of soft drinks that are sold on the market are packaged with PET bottles; however, only 30% is packaged in other kinds of packaging materials, including metal cans, glass bottles, and cartons made of paper.

Food packaging is among the most significant consumers of plastic. The need for rigid plastic Food Wrappers for the food industry is increasing as they are replacing traditional materials like paperboard, metals, and glass due to their benefits like lightweight and lower cost.

The food packaging segment covers packaging solutions for condiments and sauces, syrups and pickles, jam, processed fruits, and vegetables, as well as baby food.

Global Plastic Food Wrappers Market Value Share Analysis, by Geographical Outlook:
Based on Regional Analysis, The Global Plastic Food Wrappers Market is classified into North America, Europe, Asia Pacific, and the Rest of the world.

North America region going to dominate the Global Plastic Food Wrappers Market:
North America is one of the regions that is growing fastest when it regards Plastic Food Wrappers. As per the Plastic Oceans Foundation, more than 100 billion plastic bags are consumed by Americans each year. With such a high rate of consumption at 109 kg per capita, the United States is expected to remain the top market for plastic bags over the next few years.

The industry of packaging across the North American region has undergone radical changes in the recent past. The growth of e-commerce and technological advancements in digital printing and sustainability are leading the pack. In the wake of this, there is an increase in demand for environmentally sustainable packaging.

According to the Flexible Packaging Association, More than 60% of the consumers within North America are keen to spend more money for functional and tangible packaging benefits, including packaging protection, shipping efficiency, and supply chain efficiency as well as other benefits.

Flexible packaging is used primarily for food products and contributes to over 60 percent of the market. The US industry of flexible packaging is seeing a significant increase, as the market was able to come up with new and innovative solutions to the numerous packaging challenges it was faced with. Based on the Flexible Packaging Association, brands owners are embracing bags, films, and pouches as their primary packaging solution, which is due to the wide adoption of American consumers.

Market Economics:
By product type, the bottle segment revenue is expected to grow during the forecast period. The bottling segment holds a market share that exceeds 50% in the Global Plastic Food Wrappers Market.

The Bottle segment is followed by the Bags segment, and it has been showing a substantial growth in the market. It holds around 20% of the market share.

By Material Type, the Polyethylene terephthalate (PET) Segment is to occupy a major share. It holds major shares which exceed more than 45% in the Global Plastic Food Wrappers Market.

High-density Polyethylene (HDPE) also holds a major market share after the Polyethylene terephthalate (PET) Segment. This segment holds approx. 30% of the global market share.

By end-user, Food and Beverages Segment dominate the global market. The food segment holds the major share that exceeds more than 70% of the global plastic food wrappers market.

By Geographical landscape, North America accounted for a significant revenue share. In 2019, North America accounted for a considerable revenue share, which exceeds 60% of the total market.

Companies considered and profiled in this market study:
Amcor plc, Sealed Air, Berry Global, Inc., Mondi, Coveris, CCL Industries, Inc., Constantia Flexibles, Sonoco Products Company, Winpak Ltd.

Major key market players have been deploying various strategies, expansion, technological advancements, and agreements to gain an advantage in the highly competitive market.

Segments Covered in the report:
This report includes global, regional, and country-level forecasts and revenue growth. Besides, it also provides an analysis of market trends for segments as well as sub-segments for the period between 2021 to 2028.

The Key Market Segmentation of the Global Plastic Food Wrappers Market:
Global Plastic Food Wrappers Market can be divided into Product Types, Packaging Types, End-User / Applications, geographical landscapes, etc.

Plastic Food Wrappers Market Segmentation By Product Type:
Bottles and Jars
Bags and Cans
Trays and containers
Pouches
Other Product Types

Plastic Food Wrappers Market Segmentation By Material:
Polyethylene (PE)
Polyethylene terephthalate (PET)
Polypropylene (PP)
Polystyrene (PS) and Expanded polystyrene (EPS)
Polyvinyl chloride (PVC)
Other Rigid Plastic Food Wrappers Materials

Plastic Food Wrappers Market Segmentation By End-User:
Food
Beverage
Healthcare
Pharmaceutical
Retail
Cosmetics and Personal Care
Other End-User Industries

Plastic Food Wrappers Market Segmentation By Geographical Landscape:
North America
Europe
Asia Pacific
South America
Middle East and Africa

Major Key Players in the Global Plastic Food Wrappers Market Are:
Amcor plc
Sealed Air
Berry Global, Inc.
Mondi
Coveris
CCL Industries, Inc.
Constantia Flexibles
Sonoco Products Company
Winpak Ltd.

The Covid-19 Impact Analysis:

As they say, there has been ""A Blessing in Disguise."" Hence, COVID-19 has become a blessing to the Plastic Food Wrappers Market, and the Plastic Food Wrappers sector has shown significant growth in the pandemic period.

The impact of COVID-19 is less than that of other manufacturing industries, as the food industry was included in the essential services provided by governments. Flexible packaging companies that serve the plastic food wrappers sector are expected to prosper during the current pandemic.

Changes in consumer preferences, government policies, and stockpiling are all driving the increase in demand for packaged foods. Many consumers in India and other developing countries have switched from eating unpacked food to packed food due to the food safety crisis that occurred during the pandemic.

The rise of e-commerce during the corona outbreak also contributed to the growth in domestic packaged food sales as well as plastic food wrappers packaging for packaged goods.

Global market growth is being slowed by trade restrictions and disruptions in supply chains. Mitigation strategies used by regional government relief packages and packaging suppliers to recoup the economy are expected to boost the growth of the market.