A Comprehensive Study On Global Low Density Polyethylene Packaging Market
Global LDPE packaging market is projected to witness the growth at a decent CAGR during the forecast period(2017 to 2023). Growing demand for innovative, light-weight and convenience packaging by the FMCG industry will drive the demand for LDPE packaging.
LDPE packaging is also widely used for the packaging of healthcare products to prevent the drugs for a longer period of time, which will further augment the demand for LDPE packaging. However, the increase in demand for HDPE, LLDPE and ULDPE will impede the demand for LDPE packaging during the forecast period.
Growing Demand For Retail-ready Packaging
LDPE materials, especially stretch and shrink films are used for retail-ready packaging to provide safety of the product during transit. Additionally, graphics printing on the LDPE packaging facilitates brand promotion, ease of stockroom identification and improved product availability in case of replenishment.
LDPE packaging is cost effective as it reduces shipping cost, waste reduction and saves the time and effort of supermarket employees while stocking the product on the shelf Positive economic growth and rising disposable income in developing economies is driving the demand for retail-ready products which will further add to the demand for LDPE packaging worldwide.
Threat Of Substitutes-Porter’s Five Force Analysis
The market has various alternatives to the LDPE packaging. Switching cost for customers, to an alternate technology, depends on the substitute they are switching to. For instance, the switching cost is low if the substitute is LLDPE, ULDPE, and HDPE, while the switching cost is significantly high if the substitute is eco-friendly bags and sacks. However, the low cost of production of LLDPE while providing improved flexibility and tensile strength poses a major threat to LDPE packaging market.
Global Ldpe Packaging Market By Geography
Geographically, global LDPE packaging market is segmented as North America, South America, Europe, the Middle East and Africa, and Asia Pacific. Europe and Asia Pacific accounted for a significant market share in 2017 due to its low cost of production and growing market for FMCG products and consumer electronics.
Asia Pacific LDPE packaging market is projected to grow from US$XX.X billion in 2017 to US$XXX billion in 2023 at a CAGR of XX% during the forecast period. Growing population, economic growth, and rising disposable income will augment the demand for FMCG products, which, in turn, boost the demand for LDPE packaging solutions. Improving the standard of living in this region will drive the demand for consumer electronics, thereby augmenting the demand for LDPE packaging solutions during the forecast period.
Packaging For Healthcare And Agricultural Products
LDPE packaging is temperature resistant, moisture resistant and economical as compared to other alternatives available in the market, which makes it useful for the packaging of healthcare and agriculture products. Agriculture products use LDPE packaging for transporting and storing the product as they require strict moisture-resistant packaging. In addition to it, the packaging is used for blow-fill-seal for the packaging of drugs and the packaging can be sterilized as per the client’s preference.
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