Westford, USA, July 31, 2023 (GLOBE NEWSWIRE) -- The global Rigid Plastic Packaging market size is expected to reach USD 203.42 billion by 2030 and exhibit a CAGR of 5.5% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing demand from the food and beverage industry, growth in the pharmaceutical and healthcare sectors, rising adoption of convenient and lightweight packaging solutions, expanding e-commerce and online retail driving packaging requirements, advancements in plastic packaging technology and materials, growing consumer preference for sustainable and recyclable packaging options, cost-effectiveness and versatility of rigid plastic packaging, and rising consumption of personal care are fueling the market's growth.
According to SkyQuest's latest global research of the Rigid Plastic Packaging market, increasing use of bioplastics and recycled materials for sustainable packaging, growing demand for innovative and eye-catching packaging designs, rising popularity of single-serve and on-the-go packaging formats, adoption of smart packaging with enhanced functionalities, such as temperature monitoring and freshness indicators, focus on reducing packaging waste and optimizing material usage, integration of digital printing and labeling technologies for personalized packaging solutions, and exploration of new applications and industries for rigid plastic packaging, including electronics, automotive, and industrial products are the trends that aid in the market's growth.
Browse in-depth TOC on "Rigid Plastic Packaging Market"
- Pages - 232
- Tables - 131
- Figures -77
Rigid plastic packaging is a type of packaging that is made of a hard, non-flexible material, such as high-density polyethylene (HDPE), polypropylene (PP), or polystyrene (PS). It is often used for food and beverage packaging, as well as for pharmaceutical and cosmetic packaging.
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Prominent Players in Rigid Plastic Packaging Market
- Amcor
- Berry Global
- RPC Group
- Sealed Air
- CCL Industries
- Alpla
- Constantia Flexibles
- Sonoco Products
- Huhtamaki
- Ardagh Group
- Bemis Company
- WestRock
- Coveris
- Plastipak Holdings
- Greiner Packaging
- Mold-Rite Plastics
- Nampak
- MJS Packaging
- Alpha Packaging
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 139.83 Billion |
| 2030 Value Projection | 203.42 Billion |
| CAGR | 5.5% |
| Segments Covered |
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| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
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Polyethylene Terephthalate (PET) Demand to Grow Substantially in the Forecast Period
Polyethylene Terephthalate (PET) dominated the global online market as they are most commonly used types of rigid plastic in the packaging industry. It is widely utilized for the production of bottles and containers for beverages (such as water, soft drinks, and juices) and food products (like condiments, sauces, and edible oils). The dominance of PET is driven by its excellent properties, including transparency, lightweight, shatter-resistance, and recyclability.
Food and Beverages are the Leading Application Segment
In terms of application, Food and Beverages are the leading segment as it offers convenience and portability for food and beverage products. Lightweight, durable, and easy-to-handle containers are preferred by consumers for on-the-go consumption, contributing to the demand for rigid plastic packaging solutions.
Asia-Pacific is the leading Market Due to the Technological Advancements
Region-wise, Asia-Pacific is one of the largest growing markets with a huge emphasis on technological advancements. The region's population size, rapid urbanization, and rising disposable incomes are driving the demand for packaged food, beverages, and consumer goods, leading to an increased consumption of rigid plastic packaging. Moreover, the region's manufacturing capabilities and export-oriented industries contribute to the growth of the packaging market.
A recent report thoroughly analyzes the major players operating within the Rigid Plastic Packaging market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Rigid Plastic Packaging.
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Key Developments in Rigid Plastic Packaging Market
- In January 2023, Berry Global Group acquired RPC Group for $6.3 billion. This acquisition created a global leader in plastic packaging with a strong presence in both food and beverage and pharmaceutical packaging.
- In February 2023, Silgan Holdings acquired PreciPack for $1.1 billion. This acquisition gave Silgan a strong position in the pharmaceutical packaging market, as PreciPack is a leading provider of child-resistant closures.
Key Questions Answered in Rigid Plastic Packaging Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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