The rising demand for convenience food among consumers is expected to have a positive influence of the growth in the packaging industry. Rise in consumer spending is directly proportionate to the strong demand in the packaging industry. According to Insights and Reports, consumer spending is expected to show a positive growth trajectory in the coming years, which in turn is expected to propel the packaging industry. Further, reducing input prices for raw materials that are used in packaging, especially plastic resin has allowed several companies operating in this industry to increase profitability and to utilize the excess cash flow in order to make capital investments for upgrading and expanding equipment. Additionally, the manufacturers operating in the field of packaging are increasingly focusing towards green packaging, coupled with shifting consumer preference towards green packaging is another major factor pushing the growth of the packaging industry.

According to Insights and Reports, 2017 marked a favorable year for the growth of the packaging industry, recording a growth of more than 2.5% throughout the year, thereby bringing the retail demand for consumer packaging to 3.7 million packs in the year. Polyethylene Terephthalate (PET) bottles, glass bottles and flexible plastic accounted for the maximum sales in 2017, accounting for more than 60% of the sales. Emerging economies such as Asia Pacific are re-shaping the packaging industry at present, due to rising purchased of packaged goods, which is backed up by the rising wealth in the region.

China, India, Japan and Indonesia are the key countries driving the growth of the packaging industry and are expected to continue the growth of the industry in the coming years, majorly due to the rising young population and high demand for soft drinks. According to Insights and Reports, the soft drinks industry in Asia Pacific crossed the US$ 60 billion market in 2017, recording a growth of 4% throughout the year. The soft drinks industry in India recorded revenue of US$ 3.45 billion in 2017 and recorded a double digit growth in the year.

According to Insights and Reports, the packaged food industry in the U.S. showed optimistic growth over the past 5 years, with the revenue crossing the US$ 370 billion mark in 2017. Further, plastic pouches are gaining more traction within the packaged food and home care sector as compared to the traditional packaging types such as High Density Polyethylene (HDPE), metal cans and bottles. Plastic pouches in the U.S. are gaining consumer acceptance on account of the convenience, cost efficiency, light-weight and environment friendly nature. Re-sealable pouches and ziplocs are gaining significant demand in the country.

Germany is pushing towards sustainable packaging in order to increase the recycling rate. The regulatory authorities in the country have set targets for recycling for the manufacturers operating in this industry. The demand for packaged food among the consumer is going through a transition, where the consumers are increasing switching to smaller packs. Rising number of small households and growing geriatric population are some of the key reasons behind this transition. The packaged food market in Germany was valued at US$ 95 billion in 2017.

The major players operating in the packaging industry are undergoing heavy merger and acquisition activities in order to ensure long term market presence. In November 2016, Sonoco Products Company acquired Plastic Packaging Inc. a flexible packaging company based in North Carolina. Plastic Packaging Inc. was established in 1957 and it specializes in customized flexible packaging solutions for food & beverage products, pet care products, healthcare products and personal care products among others. Further, in October 2016, Pritzker Group Private Capital acquired acquired ProAmpac, which is a leading flexible packaging company. The company offers a broad range of services such as laminating/coating, metallizing, pouching and extrusion among others.

Encompassing the packaging industry, will be a broad range studies that include rigid packaging, flexible packaging, bio-degradable packaging, E-commerce packaging, blister packaging, glass packaging, plastic packaging, paper packaging, sachet, and various others that are studied at Insights and Reports.

Key players operating in the field of rigid packaging include Amcor Limited, Sonoco Products Company, Reynolds Group Holding, and Berry Plastics Corporation among others. Further, the flexible packaging industry includes key players such as Sealed Air Corporation, Mondi Group Plc, and Coveris Holdings S.A. among others. Moreover, the e-commerce packaging market includes major players such as DS Smith, Mondi Group Plc, and Dynaflex among others.

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