COVID-19 Impact on Packaging - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global COVID-19 Impact on Packaging Market is accounted for $926.43 billion in 2019 and is expected to reach $1,652.28 billion by 2027 growing at a CAGR of 7.5% during the forecast period. While the factors like rising e-commerce sales and growing demand for FMCG and pharmaceutical packaging are propelling the market growth. However, the non-availability of raw materials is hampering the market growth.
There are both advantages and disadvantages in packaging industry due to COVID–19. But the packaging sectors around the world have more significant benefits than other industries that are affected by the Corona Virus pandemic. As many countries are under shut down due to this deadly virus, stock up on necessary supplies such as medicines, dairy products, food, sanitizers, face masks, disinfectants, and many more has been in high demand. All these products require packing, and their production has been higher than ever before. The consumers and customers around the world prefer packed products rather than initially available and sold lose products such as fruits, vegetables, etc.
Based on the material type, the plastics/polymers segment is estimated to have a lucrative growth due to it is very necessary to feed and help our nation as well to manage waste. The COVID-19 crisis has shown that, since the demand from many end-use industries is growing mainly in the food & beverage segment, the use of plastic packaging will also see a significant rise during this crisis. By geography, the Asia Pacific is going to have a lucrative growth during the forecast period due to the easy accessibility of packaging raw materials such as fiber, plastic, and glass and the occurrence of manufacturing facilities of most of the packaging companies.
Some of the key players profiled in the COVID-19 Impact on Packaging Market include Amcor Plc, Constantia Flexibles Group GmbH, Cosmo Films Ltd, Essel Propack Ltd, Jindal Poly Films Ltd, Oji India Packaging Pvt. Ltd, Tetra Laval International SA, TPCL Packaging Ltd, UFlex Ltd, and Uma Group.
• Flexible Packaging
• Rigid Packaging
Material Types Covered:
• Paper & Paperboard
• Beauty & Personal Care
• Electrical & Electronics
• Food & Beverages
• Household Hygiene
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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