PVC PACKAGING MATERIALS MARKET ANALYSIS
Market Trends
Among end-use industry, the food and beverages segment is expected to witness a significant growth in the near future, owing to increasing growth of this industry. According to U.S. Census Bureau, in the U.S., the total food sales in 2016 was US$ 1,594.06 billion. Furthermore, increasing consumer spending on food and drink results in growth of this segment. According to Department for Environment Food & Rural Affairs, the total consumer expenditure on food, drink and catering increased by 0.9% in 2014 to US$ 231.10 billion.
The rigid packaging application segment is expected to show a significant growth in the global PVC packaging materials market over the forecast period. According to Coherent Market Insights’ analysis, the global rigid packaging market was valued at US$ 529.97 billion in 2016 and is expected to exhibit a CAGR of 4.05% during the forecast period (2017-2025).
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