The global plastic packaging market size was valued at US$ 300.86 billion (revenue) and 91,520.07 kilo tons

Plastics are high-molecular-weight organic compounds that include a diverse spectrum of synthetic organic compounds that may be moulded into a variety of shapes due to their malleability. Packaging is a technology that encloses and protects a wide range of products for storage, distribution, sale, and use. In recent years, the global market for plastic packaging has been driven by rising demand for healthy, safe, and convenient food in Asia Pacific, Europe, and North America, respectively. Also, due to its strength, adaptability, and recyclability, the usage of polyethylene terephthalate (PET) as a packaging material for food and drinks, medicines, and household products is expected to boost the plastic packaging market's sustainability from 2017 to 2025.

Plastic Packaging Market are the primary raw materials used in the production of flexible packaging, which has a wide range of applications in various end-use industries such as food and beverage, cosmetics, and healthcare, because they provide significant product visibility and attractive and secure packaging options. The pillow pouch and stand up pouch are the most commonly used products in the flexible packaging market, owing to their excellent barrier against oxygen and moisture, as well as their low cost and low material usage, which are expected to drive the market for flexible packaging during the forecast period.

The Plastic Packaging Market is growing due to rising disposable income and customer preferences for packaged goods, particularly in Asia Pacific and Latin America. This is related to the middle class's increased per capita income. According to the India Brand Equity Foundation (IBEF), a Trust created by the Department of Commerce, Ministry of Commerce and Industry, Government of India, the retail market is predicted to nearly quadruple in size by 2020, from US$ 600 billion in 2015.

Product portfolio expansion and geographical expansion are the key market trends which are expected to shape the industry in the near future. Major players in the global plastic packaging market include Amcor Ltd., Sealed Air Corporation, Bemis Company, Sonoco Products Company, Mondi Plc., Tray Pack Corporation, Lacerta Group Inc., Bemis Company Inc., Alwin Lehner GmbH & Co. Kg, RPC Group Plc among others.