The Global Packaging Market is Expected to Grow by USD280.29 Billion during 2020-2024 Progressing at a CAGR of 5% during the Forecast Period

The global packaging market is expected to grow by USD280.29 billion during 2020-2024 progressing at a CAGR of 5% during the forecast period.

A report “Global Packaging Market 2020-2024” was released by Reportlinker recently, provides a holistic analysis of market size and forecast, trends, growth drivers and challenges. It offers an up-to-date analysis of the current global market scenario, latest trends and drivers, and overall market environment.

The packaging market is said to have been driven by the growth of food delivery and takeaway market, rise in need for innovative packaging and increase in demand for digitally printed packaging. The analysis also includes end-user segment and geographic landscape. The market is segmented into food, beverage, healthcare, personal care and others, while it is segmented by geographical landscape into the following areas: APAC, North America, Europe, MEA and South America.

Rise in the adoption of reusable packaging has been identified as one of the prime reasons driving the packaging market growth during the next few years, according to the study. Continuous development of new products and emergence of tamper-proof packaging have also lead to a sizable demand in the market.

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