Global plastic jar packaging market to cross US$28.3 bln by 2025

05-Sep-19

The global plastic jar packaging market was US$23.3 billion in 2018 and is expected to reach around US$28.3 billion by 2025, growing at a CAGR of 2.8% between 2019 and 2025, as per Zion Market Research. The plastic jar packaging market is likely to experience significant growth globally in the upcoming years, owing to the growing demand for lightweight, durable, impact-resistance, and cost-effective packaging formats. The demand for effective and budget-friendly packaging formats across various industries, particularly in the food and beverages sector, is expected to further fuel the plastic jar packaging market over the forecast time period. Rapid urbanization and improving living standards of people will also increase the demand for plastic jar packaging in the years to come. However, the growing raw material prices of plastic jar packaging may hamper the plastic jar packaging market development on a global scale. The flourishing food and beverages sector in emerging countries and advancements in plastic jar packaging technology will generate new opportunities for the major market players.