Plastic packaging market to reach $370B by 2020


According to a recent report from Transparency Market Research, the global plastic packaging market was valued at nearly $260 billion in 2013 and is expected to reach a little more than $370 billion by 2020, growing at a CAGR of 5.2% over the forecast period between 2014 and 2020. In terms of volume, the plastic packaging market was worth 78,400.2 kilo tons in 2013.

A rising demand for plastic packaging in the healthcare sector is expected to be one of the key drivers contributing to the growth of this market. Also, as the food & beverages market continues to expand, which is the largest application of plastic packaging, this, too, is expected to fuel growth.

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