New York (US), May 22, 2023 (GLOBE NEWSWIRE) -- Rigid Plastic Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Rigid Plastic Packaging Market Information by Material, Product Type, Manufacturing Process, Application, and Region - Forecast till 2030”, Rigid Plastic Packaging Market could thrive at a rate of 5.50% between 2022 and 2030. The market size will be reaching around USD 203,420.3 million by the end of the year 2030
Market Synopsis
Rigid plastic packaging refers to packaging materials made of plastic that have a stiff and inflexible shape. It is a type of packaging that is commonly used to protect and preserve products during storage and transportation. Rigid plastic packaging is often used for products that require a high level of protection, such as food, beverages, pharmaceuticals, and personal care products.
Rigid plastic packaging has a wide range of applications in various industries. It is commonly used in the food and beverage industry for packaging products such as bottled water, soft drinks, and snack foods. In the pharmaceutical industry, rigid plastic packaging is used to protect and preserve drugs, medical devices, and other healthcare products. It is also used in the personal care industry for packaging products such as shampoos, conditioners, and lotions.
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Market Competitive Landscape:
The affluent companies in the Rigid Plastic Packaging industry include
- Consolidated Container Company
- Amcor Limited
- LINPAC Packaging Limited
- Bemis Company
- Silgan Holdings
- RPC Group Plc
- Plastipak Holdings Inc
- Sealed Air Corporation
- Reynolds Group Holdings
- Berry Plastics Corporation
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 203,420.3 million |
| CAGR | 5.50% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2018- 2020 |
| Forecast Units | Value (USD million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material, Product, Manufacturing Process and Application |
| Geographies Covered | Europe, North America, Asia Pacific, and the Rest of the World |
| Key Market Drivers | Rapid demand from the food and beverage packaging industry Growth of the packaging industry in the Asia Pacific |
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October 2021
South32 Ltd announced plans to spin off its South African Energy Coal unit and focus on its core businesses, including Rigid Plastic Packaging production. This move is expected to strengthen the company's position in the Rigid Plastic Packaging market and increase its profitability.
Market USP Covered:
Market Drivers:
The increasing demand for packaged food and beverages is driven by factors such as changing lifestyles, urbanization, and increasing disposable incomes. Rigid plastic packaging is preferred in the food and beverage industry due to its durability, barrier properties, and convenience. Rigid plastic packaging materials such as PET, HDPE, and PP are widely used in the packaging of food and beverage products, including carbonated drinks, water, juices, dairy products, and snacks. The increasing demand for on-the-go food and beverages is also driving the demand for single-serve rigid plastic packaging.
The growth of the e-commerce industry is also driving the demand for rigid plastic packaging. With the rise of online shopping, there is a growing need for protective packaging materials that can protect products during shipping and handling. Rigid plastic packaging materials, such as HDPE, PP, and polystyrene, are widely used in the packaging of electronic goods, cosmetics, and pharmaceutical products, among others. The increasing trend towards customization and personalization in the e-commerce industry is also driving the demand for rigid plastic packaging with unique designs and branding.
The focus on sustainability is driving the demand for eco-friendly rigid plastic packaging materials. The growing concern about plastic waste and environmental pollution is leading to the development of biodegradable and compostable rigid plastic packaging materials. Companies are investing in the development of sustainable rigid plastic packaging materials that are recyclable, reusable, and have a lower carbon footprint. The demand for eco-friendly packaging materials is expected to continue to drive market growth in the coming years.
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Market Restraints:
The rigid plastic packaging market is also affected by several market restraints, including the increasing concerns about plastic waste and the negative impact of plastic on the environment. In addition, the availability of alternative packaging materials, such as paper-based and biodegradable packaging materials, is also a challenge for the rigid plastic packaging market.
COVID 19 Analysis
The COVID-19 pandemic has had a mixed impact on the rigid plastic packaging market. While the demand for packaging materials has increased due to the rise in e-commerce and online shopping, the disruption in the supply chain and reduced consumer spending have impacted market growth. However, post-COVID, the market is expected to recover as the e-commerce industry continues to grow and the demand for protective packaging increases.
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Market Segmentation
By Material
The Material in the market includes Bioplastics, Polyethylene Terephthalate (PET), Polyethylene (PE), Polyvinyl Chloride (PVC), and Others.
By Product Type
The Product Type in the market includes Bottles & Jars, Trays, Tubes, Cups, and Others.
By Manufacturing Process
The Manufacturing Process in the market includes Extrusion, Injection Molding, and Others.
By Application
The Application in the market includes Food & Beverages, Healthcare, Personal Care, Industrial Packaging, and Others.
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Regional Insights
The rigid plastic packaging market is dominated by three regions - North America, Europe, and Asia-Pacific. North America is the largest market for rigid plastic packaging, driven by the demand for packaging materials in the food and beverage industry. Europe is the second-largest market, driven by the demand for rigid plastic packaging in the pharmaceutical and personal care industries. The Asia-Pacific region is expected to witness significant growth in the coming years, driven by the growing e-commerce industry and the increasing demand for protective packaging.
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