According to a recent report, global demand for plastic packaging was valued at $270 billion in 2014, and is expected to reach $375 billion in 2020, growing at a CAGR of 4.8% between 2015 and 2020. In terms of volume, the global plastics packaging market stood at 81,750.0 kilo tons in 2014.
Published by Zion Research (Deerfield Beach, FL), the report titled, “Plastic Packaging (Rigid Plastic Packaging and Flexible Plastic Packaging) Market for Food & Beverages, Industrial, Household Products, Personal Care, Medical and Other Applications—Global Industry Perspective, Comprehensive Analysis and Forecast, 2014-2020,” said among all applications, food & beverage was the largest application segment for plastic packaging market in 2014. It accounted for over 50% share of the entire volume consumption in 2014. Moreover, pharmaceuticals and medical applications are also projected to have growing demand from the end-user application during the years to come.
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