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Global Polyethylene Packaging Market 2019-2023 | Increasing Adoption of Bioplastics to Boost Growth | Technavio

May 15, 2019

LONDON--(BUSINESS WIRE)--May 15, 2019--

The global polyethylene packaging market is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio.

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Technavio has published a new market research report on the global polyethylene packaging market from 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the market is the growing demand for HDPE bottles as it is one of the most widely used resins for manufacturing plastic bottles. It is economical, impact-resistant, and provides a good moisture barrier. One of the significant advantages of HDPE over other plastic packaging types is its ability to be recycled. The high recycling capabilities of HDPE packaging products make the resin attractive for the manufacture of packaged bottled products like milk and juices. Moreover, HDPE bottles are preferred over PET as the former offers more printing options than that provided by other substitutes. HDPE packaging is also available in different colors, which helps in product differentiation as different colors of packaging products help to enhance the aesthetic value of the products and attract consumers, thereby resulting in more sales as well as the growth of the global polyethylene packaging market in the coming years.

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 global polyethylene packaging market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.

Global polyethylene packaging market: Increasing adoption of bioplastics

Rising concerns for the sustainability of the environment are driving the market for bioplastic materials. Bioplastic films are made from biodegradable materials and are thus compostable and have a negligible carbon footprint as compared to that of conventional plastic materials. The production of bioplastics consumes 60% less energy than that needed to produce petroleum-based plastics. Moreover, the increasing use of bioplastic packaging will influence flexible packaging manufacturers to move toward bioplastics. Continuous development of new products by polymer manufacturers is also one of the main trends in the market. Product developments by some of the polymer manufacturers will also encourage other polymer manufacturers to introduce innovative products to remain competitive in the market. Thus, the emergence of bioplastics will drive the growth of the market.

“Dynamic industry changes such as the introduction of new regulations influence manufacturers to develop new packaging options. To reduce the cost pressure, and at the same time maintain the integrity of product packaging, manufacturers have started considering sustainable packaging solutions that require fewer materials and energy to manufacture, reduce transportation costs, and offer extended shelf life to the product. Thus, investments in polyethylene packaging solutions, development of new sustainable packaging options, and the usage of recyclable materials will highlight the growth opportunities of the market,” says an analyst at Technavio.

Global polyethylene packaging market: Segmentation analysis

This market research report segments the global polyethylene packaging market by type (HDPE and LDPE), application (food and beverage, medical, and others), and geographical regions (APAC, North America, Europe, South America, and MEA).

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 continue dominating the global market as well as register the highest incremental growth due to the increasing demand from food and beverage industry, trade and export activities and economic factors such as growing urbanization and the rising household income.

Looking for more information on this market? Request a free sample report

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 Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190515005541/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS PACKAGING

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 05/15/2019 10:38 AM/DISC: 05/15/2019 10:38 AM

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