The polyethylene packaging market will register a CAGR of over 5% by 2023

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May 14, 2019, 18:08 ET

NEW YORK, May 14, 2019 /PRNewswire/ -- About this market
Innovations in packaging to improve convenience is one of the major growth driver of the global polyethylene packaging market. Customer convenience has become a priority for most vendors operating in the global polyethylene packaging market. While many consumer goods packaging companies are planning to launch innovative products, most of these companies are focusing on new packaging designs or redesigning their existing packaging. The millennial population, especially working professionals with busy schedules, looks for convenience in everyday products, especially food, beverages, and personal care products. Analysts have predicted that the polyethylene packaging market will register a CAGR of over 5% by 2023.

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Market Overview
Growth in demand for sustainable packaging solutions
Dynamic industry changes such as the introduction of new regulations influence manufacturers to develop new packaging options. Thus, the growth in demand for sustainable packaging solutions will drive the growth of the market.
Increasing demand for substitutes
The global market is expected to witness strong competition from substitute packaging products including flexible and rigid packaging materials such a PET, wooden pallets, plastic straps, metal straps. The high demand of these substitute products is expected to hinder the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the polyethylene packaging market during the 2019-2023, view our report.

Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Sealed Air Corp. and Sonoco Products Co., the competitive environment is quite intense. Amcor Ltd., Berry Global Inc., Coveris Management GmbH, Sealed Air Corp., and Sonoco Products Co. are some of the major companies covered in this report.

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