Efforts to Intensify Circular Plastic Economy in European Countries Underscores Growth in Europe Plastic Packaging Market, Valuation Projected to surpass US$ 22.7 Bn by 2030 - TMR

- The Europe plastic packaging market is estimated to grow substantially owing to the widening application outreach and the advancements in packaging technologies

- TMR analysts project the plastic packaging market in Europe to expand at a CAGR of ~4 percent during the assessment period of 2020-2030

ALBANY, N.Y., May 18, 2021 /PRNewswire/ --

Europe Plastic Packaging Market: Growth Summary

With the emergence of varied industrial revolutions, commercialization, and an extensive rise in the population numbers, the demand for plastics has seen an uptick. The utilization of plastic packaging has multiplied considerably over the years in European countries. The rising disposable income, rapid urbanization levels, and intense industrialization have led to an increase in the demand for plastic packaging in Europe. All these factors will boost the growth prospects of the Europe plastic packaging market during the forecast period of 2020-2030.

Plastic packaging solutions are significantly used for ensuring good product life. The packaging offers a barrier between the products and decreases the chances of contamination of the product. These aspects bring good growth opportunities for the Europe plastic packaging market. The use of flexible plastic packaging solutions among pharmaceuticals, cosmetics, food and beverage, and others will bring exponential growth opportunities for the Europe plastic packaging market.

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The researchers at Transparency Market Research (TMR) have performed an overall analysis of all the growth aspects related to the Europe plastic packaging market. The analysts predict the Europe plastic packaging market to expand at a CAGR of ~4 percent across the forecast period of 2020-2030. The Europe plastic packaging market is estimated to cross the revenues of US$ 22.7 bn till 2030, the end of the forecast year.

The rapidly evolving lifestyle habits have led to a sea change in the eating and drinking patterns of the global populace due to which the organized retail sector in Europe has increased its presence substantially. This factor eventually boosts the demand for plastic packaging solutions. Furthermore, the growing consumption of beverages in Europe will add extra stars of growth to the Europe plastic packaging market.

Explore 128 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Europe Plastic Packaging Market (Material: Polyethylene, Polypropylene, Polystyrene, Polyamide, Polyethylene Terephthalate, Poly Vinyl Chloride, Bioplastics, and Other Plastics; Packaging: Rigid Packaging and Flexible Packaging; and End Use: Food & Beverage, Pharmaceutical & Healthcare, Cosmetics & Personal Care, Homecare & Toiletries, Automotive Industry, Electrical & Electronics, Chemical & Fertilizers, and Others) - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/europe-plastic-packaging-market.html

Key Findings of the Report

Initiatives across Europe Promoting Circular and Resource-Efficient Economy to Propel Growth Opportunities

A plethora of initiatives are being taken by the countries in the European Union (EU) to tackle the menace of plastic pollution. The European Parliament agreed to an agreement in 2017 to achieve the target of 65 percent plastic packaging recycling by the year 2025 and about 70 percent by 2030.

Initiatives by beverage giants like Coca-Cola to use 100 percent recycled plastics will also accelerate the sustainability factor in the plastic packaging industry. The Coco-Cola Europacific Partners have decided to use 100 percent rPET (recycled content PET bottles) in some countries by the end of 2021. Such developments bring extensive growth opportunities for the Europe plastic packaging market.

Analyze global Europe Plastic Packaging Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Advantages Attached to Plastic Packaging will serve as Vital Growth Contributors

Plastic packaging helps in preventing food waste. The sealability and durability of plastic packaging protect the food from further deterioration. In addition, manufacturers in the plastic packaging market are always involved in making the packaging lightweight. Over the past 10 years, the weight of plastic packaging materials has been decreased by almost 28 percent.

Thus, all these factors bring exponential growth opportunities for the Europe plastic packaging market.

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Europe Plastic Packaging Market: Growth Drivers

• Sustainable plastic packaging will generate positive growth across Europe as government and non-government initiatives are trying to promote a circular plastic economy that will involve recycling and reusing plastic for packaging purposes.
• The booming organized retail sector in Europe will also prove to be a significant growth generator for the Europe plastic packaging market.

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Eco-friendly Labels Market - Environmentally favorable and organic products are idealized and evaluated positively compared to conventional alternatives. The planet is facing a sustainability challenge due to pollution, landfills, and non-recyclable scraps. In order to reduce the environmental impact of products, consumers are demanding environment-friendly packaging and labeling solutions.

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