Report ID: SQMIG35A2942
Report ID:
SQMIG35A2942 |
Region:
Global |
Published Date: November, 2024
Pages:
169
|
Tables:
90 |
Figures:
71
Increasing applications for packaging materials in F&B, personal care, and pharmaceutical products are expected to drive the size of the Asia-Pacific market to the leading position in the regional market. Regional market growth can be attributed to an increasing demand for sanitary infant care products in China and India, which in turn can be linked to changes in lifestyle, an increase in the number of working moms, and an increase in per-capita disposable income. Packaging sector is the sixth largest industry in India. IIP said, "India's packaging consumption surged by 200% in the last decade from 4.3 kgs to 8.6 kgs per person per annum as of FY-20, while IIP added that rising consumer awareness, growing income levels, and surge in consumption of processed food will be driving the India packaging sector. A high volume of packaging spending in food processing, pharmaceutical, protective apparel, and personal care end-use industries is expected to drive the growth of the packaging market in the region.
On the contrary, the regional market is expected to grow during the forecast period owing to growing building and construction industry in the North American region. The increasing building and construction processes in the U.S and Canada, together with growing investment in the infrastructure development by enterprise and government agencies, will drive the growth of the industry in the region. In the construction industry, polyethylene films are used for covering an area and costly equipment and machinery to protect them. The main driver of the growth in size of the polyethylene market is the growth in the US markets for food packaging, heavy-duty sacks, and shopping bags.
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Report ID: SQMIG35A2942