The global packaging jars market is segmented into material type such as metal, plastic, glass and others (ceramic, wood). Among these segments, plastic jars segment is expected to occupy the top position in the market. Wide ranging products and attractive designs are anticipated to drive the growth of the plastic packaging jars market. Further, low cost of plastic packaging jars is likely to intensify the growth of global plastic packaging jar market. However, metal packaging segment is anticipated to grow at highest CAGR during the forecast period.
Global packaging jars market is expected to flourish at a CAGR of 4.8% over the forecast period. Factors such as increasing spending on packaged foods, growing adoption of aesthetic packaging jars in various end use industries and increasing disposable income of the population are anticipated to drive the demand for packaging jars market. Further, packaging jars market is witnessing the launch of innovative, sustainable and attractive packaging jars which is likely to drive the future adoption of packaging jars. Moreover, the global packaging jars market is projected to garner noteworthy revenue by the end of 2024.
In the regional segment, Asia Pacific represented the largest market for packaging jars worldwide in 2016. Strong economic development of the developing countries such as China and India and increasing number of end use manufacturing bases in the region is widening the demand for the Asia Pacific packaging jars market. Europe packaging jars market is a prominent regional market and is likely to showcase lucrative growth during the forecast period. Penetration of advanced and sustainable packaging jars solutions into the market is opening a gateway of opportunities for the growth of the packaging jar market.
Increasing Consumption of Packaged Foods
Growing consumption of packaged foods in various developed nations is anticipated to drive the demand for packaging jars products during the forecast period. Further, increasing disposable income and changing lifestyle of the population is expected to supplement the expansion of the packaging jars market.
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Innovation in Packaging Jars Products
Designs and aesthetic innovations in the packaging jars are expanding the application of packaging jars. For instance, innovation of packaging jar for better protection of contents is spurring the growth of the global packaging jar market.
Although, volatility in the price of the raw material and stringent government regulations are some of the factors that are likely to inhibit the growth of the packaging jars market in the near future.
The report titled “Packaging jars Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global packaging jars market in terms of market segmentation by material type, by jar size, by end use industry and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global packaging jars market which includes company profiling of Hitech Group, AG Poly Packs Ltd., Owens Bottle Company, Graham Packaging, Richards Packaging, Inc., Zenith Global, Alpha Packaging, Parksons Packaging Ltd., Roberts Metal Packaging and Beatson Clark. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global packaging jars market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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