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According to the packaging market research report by GMI Research: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2020-2027. The Packaging Market analyzes the impact of the COVID-19 pandemic and represents that the market is expected to bounce back in 2021 over 2020 and estimated to grow at a higher growth rate from 2022 onwards. Packaging refers to the process of enclosing or protecting products for storage, distribution, sales, and further usage. The upper layer of the packaging usually contains the list of the ingredients represent in the product, MRP, and its expiry date.
Competitive Landscape: The Packaging Market report also scans the competitive landscape and profiles the major players operating in the market, including Berry Plastics Group Inc., Mondi, Sealed Air Corporation, Ball, ProAmpac., Reynolds Group Holdings, Amcor Limited, Coveris Holdings S.A and Bemis Company Inc., and Crown Holdings.
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The global packaging market is becoming more mainstream over the forecast period. The strong demand from the end-use industries, especially food & beverage, growing requirement for convenient products among consumers, favorable government policies and regulations pertaining to packaging recycling, and the rising health awareness among consumers worldwide are the significant factors that are drastically boosting the growth of the global packaging market. The development of new packaging material and the innovative packaging marketing strategies launched by the global giants will attract many end-users to opt for advanced packaging solutions.
With the coming of the COVID-19 crisis, consumers have become aware regarding the importance of packaging products and are preferring to purchase products with sealed packaging rather than the products which are sold loose, even if they are costlier. During the pandemic, the state and local municipalities are practicing extreme caution to avoid the spread of the coronavirus. The accelerated demand for healthcare products, such as syringes, cartridges, and vials, is directly propelling the demand for the packaging market, especially in 2020.
For further information on these analyses, please visit: https://www.gmiresearch.com/report/global-packaging-market/
Breakup by Material:
· Board Packaging
· Rigid Plastic Packaging
· Metal Packaging
· Flexible Packaging
· Glass Packaging
Breakup by Application:
· Food & Beverages
· Cosmetics & Toiletries
· Other Applications
Breakup by Region:
· North America
o United States of America
· Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting firm which provides bespoke industry & market research to help businesses in making the toughest business decision. We know the significance of accurate data; that’s why our analyst use tailored methodology to study every market in detail because one size doesn’t fit all. We not only cover the traditional well-established market but also focuses on niche market and markets in the emerging economies, where getting data and information is a challenge. This factor makes us pioneer in emerging market research space. Our syndicate reports cover multiple industries across various regions and countries.
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