Lewes, Delaware, May 14, 2024 (GLOBE NEWSWIRE) -- The Global Rigid Plastic Packaging Market is projected to grow at a CAGR of 5.55% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 267.38 Billion in 2024 and is expected to reach USD 429.13 Billion by the end of the forecast period.
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Browse in-depth TOC on “Global Rigid Plastic Packaging Market”
202 - Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Amcor Limited, Bemis Company, Inc., Tray Pack Corporation, Consolidated Container Company, Lacerta Group, Inc., Coveris Holdings S.A., Plastipak Holdings, Inc., Alpla Wereke |
| SEGMENTS COVERED | By Raw Material, By Type, By Application, And By Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Rigid Plastic Packaging Market Overview
Growing Demand for Lightweight Packaging Solutions: The Rigid Plastic Packaging Market is advantageous due to the growing demand for lightweight packaging solutions, which is fueled by the requirement for cost-efficient and effective transportation. Businesses looking to streamline their logistics operations are drawn to lightweight packaging due to its ability to save shipping expenses and improve supply chain efficiency.
Rising Emphasis on Product Safety and Protection: Businesses in several sectors place a high importance on product safety and security, leading to an increased need for rigid plastic packaging solutions. Durable plastic materials provide strong defence against external factors, guaranteeing the integrity of the product during the whole supply chain. The focus on product safety improves the market's potential for growth as companies seek dependable packaging solutions to protect their products.
Expansion of E-commerce and Retail Sectors: The growth of the e-commerce and retail industries worldwide serves as a major catalyst for the Rigid Plastic Packaging Market. Due to the increase in online shopping, there is a greater demand for packaging that is both sturdy and secure in order to endure the challenges of shipping and handling. Rigid plastic packaging meets this requirement by addressing the changing demands of online retailers and supporting market growth.
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Environmental Concerns and Regulatory Pressures: The Rigid Plastic Packaging Market has major hurdles due to environmental concerns related to plastic waste and strict regulatory procedures. Companies are under pressure to implement sustainable packaging solutions in order to reduce their environmental impact and adhere to requirements. This limitation requires the development of innovative environmentally-friendly materials and packaging solutions to meet the increasing environmental awareness of customers and regulatory bodies.
Shift Towards Sustainable Packaging Alternatives: The market is limited by the growing adoption of sustainable packaging alternatives, which is driven by consumer preferences and corporate sustainability objectives. Businesses are shifting from conventional inflexible plastic packaging to biodegradable, recyclable, or compostable substitutes in order to conform to environmentally aware consumer attitudes. The shift highlights the necessity for the Rigid Plastic Packaging Market to adjust and introduce new ideas in order to maintain competitiveness in a changing environment.
Volatility in Raw Material Prices: The Rigid Plastic Packaging Market faces difficulties due to fluctuations in raw material prices, which affect production costs and profit margins for organisations. The fluctuation in prices of petrochemicals, which are the main raw materials used in the production of plastics, has the potential to disrupt supply chains and impact the stability of the market. Businesses must address this challenge by establishing efficient cost management systems and investigating alternate materials to minimise the effects of volatility in raw material prices.
Geographic Dominance:
The Rigid Plastic Packaging Market is geographically dominated by regions such as North America and Europe, primarily because of their strict laws and widespread adoption of sustainable practices. Nevertheless, the Asia-Pacific region is swiftly establishing itself as a significant participant, propelled by the growth of its manufacturing industries and the rising demand from consumers. This shift represents a worldwide market environment in which different regions compete for power, with each location being influenced by distinct economic, regulatory, and consumer tendencies.
Rigid Plastic Packaging Market Key Players Shaping the Future
Major players, including Amcor Limited, Bemis Company, Inc., Tray Pack Corporation, Consolidated Container Company, Lacerta Group, Inc., Coveris Holdings S.A., Plastipak Holdings, Inc., Alpla Wereke. and more, play a pivotal role in shaping the future of the Rigid Plastic Packaging Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.
Rigid Plastic Packaging Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Rigid Plastic Packaging Market into Raw Material, Type, Application, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Rigid Plastic Packaging Market, please Contact Verified Market Research®.
- Rigid Plastic Packaging Market, by Raw Material
- Bioplastics
- Polyethylene
- Polyethylene Terephthalate
- Polystyrene
- Others
- Rigid Plastic Packaging Market, by Type
- Bottles & Jars
- Rigid Bulk Products
- Tubs, Cups, & Pots
- Others
- Rigid Plastic Packaging Market, by Application
- Food
- Beverage
- Healthcare
- Cosmetics & Toiletries
- Industrial
- Others
- Rigid Plastic Packaging Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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