Plastic Packaging Market expected to grow at a CAGR of 4.2% from 2021 to 2028
Plastic Packaging Industry Overview The global plastic packaging market size is expected to reach USD 486.2 billion by 2028, according to a new report by Grand View Research, Inc., registering a CAGR of 4.2% over the forecast period. The rapid expansion of the food & beverages, personal care, and pharmaceuticals sectors coupled with the rising penetration of organized and e-retail across the world is expected to fuel market growth. Plastic Packaging Market Segmentation Grand View Research has segmented the global plastic packaging market on the basis of product, technology, application, and region: Based on the Product Insights, the market is segmented into Rigid and Flexible The rigid product segment accounted for the largest revenue share of 61.1% in 2020 owing to their sturdiness and high aesthetic appeal. The flexible product segment is estimated to register the fastest CAGR from 2021 to 2028. This segment is further categorized into wraps & films,...