Global Rigid Packaging Market is expected to reach US$ 140 billion by the end of 2028 and is expected to register a significant CAGR of 5.3% during the forecast period till 2028.

Governments around the world are introducing new rules and regulations to reduce plastic waste, which is expected to bolster the growth of the sustainable rigid packaging market says a research report by RationalStat

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Wilmington, Delaware, Aug. 02, 2023 (GLOBE NEWSWIRE) -- “Global Rigid Packaging Market Analysis and Forecast, 2019-2028” report by RationalStat assesses the regional market based on material type, application, and country/region. A detailed market analysis report provides an overall historical and future market size in terms of market value (US$ Million) and market volume (‘000 units/tons) with a comprehensive market trend analysis (year-on-year growth).

The report also deals with the market share analysis by key players and segments, sales & revenues of rigid packaging, competition overview, strategic imperatives, plans, and strategies, key applications, potential growth drivers, recent R&D of rigid packaging across the globe, and competition analysis for the target players evaluated in the global rigid packaging market study.

Market Overview and Dynamics

The global rigid packaging market is expected to grow at a robust growth rate of around 5.3% during the forecast period 2022-2028. The industry is expanding as a result of the rising demand for packaged food and beverages, cosmetics and personal care items, and medications. The market is also anticipated to increase as a result of the rising demand for environmentally friendly and sustainable packaging options.

Market Drivers and Trends of the Global Rigid Packaging Market

Asia-Pacific holds a dominant position in the rigid packaging market as a result of the region's rising rapid growth in the pharmaceutical and food and beverage industries, as well as rising strong demand from the food and beverage packaging sector and an increase in consumer spending.

Due to the region's rising demand for eco-friendly packaging, North America is predicted to represent the second-largest share of the market. Due to the region's diversity of packaged food and beverage producers, Europe is anticipated to hold the third-largest market share.

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Segmental Analysis: Global Rigid Packaging Market

  • On the basis of material type, the paperboard segment holds a major market share as it is environmentally friendly. Due to government strict laws & regulations demand for paperboard packaging solutions is rising which enhances the rigid packaging market growth. 
  • Based on the application, the food & beverages sector accounts for the major market growth of rigid packaging. As the demand for packaged food is increasing day by day which propel the growth of the market in the upcoming years.

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Competition Analysis and Market Structure

The global rigid packaging market is fragmented in nature with the presence of various players operating in the region. Leading companies operating in the rigid packaging market are focusing on introducing new & better technologies such as lightweight, eco-friendly, and sustainable packaging, catering to different niche markets and applications.

Moreover, these players adopt various strategies to increase their market share and gain a competitive edge over other competitors in the rigid packaging market. Mergers and acquisitions, partnerships, and collaborations are some of the strategies followed by industry players. Some of the key developments in the global rigid packaging market include, 

  • In March 2021, Amcor and the Alliance established a new agreement in March 2021 to eliminate plastic waste. By 2025, this partnership's environmental goal wants all of its packaging to be recyclable or reusable.
  • In 2020, Plastipak announced an investment in carbonated beverage bottle bottles with light-weight finishes.

Some of the key players operating in the global rigid packaging market include Amcor Limited, Berry Global Group, Inc., Gerresheimer AG, Crown Holdings, Inc., and Plastic Packaging, Inc., among others.

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RationalStat has segmented the global rigid packaging market on the basis of material type, product type, production process, application, and region.

  • By Material Type
    • Plastic
      • Polyethylene (PE)
      • Polyethylene Terephthalate (PET)
      • Polypropylene (PP)
      • Polystyrene (PS)
      • Polyvinyl Chloride (PVC)
      • Expanded Polystyrene (EPS)
    • Metal
    • Wood
    • Glass
    • Paper & Paperboard
    • Others
      • Bioplastics
      • Polyamide (PA)
      • Polycarbonate (PC)
      • Polyethylene Naphthalate (PEN)
      • Ethylene Vinyl Alcohol (EVOH)
      • Polyvinylidene Chloride (PVDC)
      • Polyurethane Foam (PU)
      • Polymethyl Methacrylate (PMMA)
      • Styrene Acrylonitrile (SAN)
  • By Product Type

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Key Questions Answered in the Rigid Packaging Report:

  • What will be the market value of the Global Rigid Packaging Market by 2028?
  • What is the market size of the Global Rigid Packaging Market?
  • What are the market drivers of the Global Rigid Packaging Market?
  • How much Rigid Packaging is sold each year?
  • What are the key trends in the Global Rigid Packaging Market?
  • Which is the leading region in the Global Rigid Packaging Market?
  • What are the major companies operating in the Global Rigid Packaging Market?
  • What are the market shares by key segments in the Global Rigid Packaging Market?

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Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

  • Defining the problem by understanding the type of market and data required by the client.
  • Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
  • Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
  • Evaluating and analyzing the data by referring to data sources utilized and leveraged.
  • Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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About RationalStat LLC                    

RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies.  The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

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