Selbyville, Delaware, Oct. 31, 2023 (GLOBE NEWSWIRE) --
Rigid Packaging Market size is poised to record USD 325.8 billion by 2032. The ongoing innovations in packaging materials and technology for improved product protection, longer shelf life, and enhanced aesthetics. In recent times, medical device producers, healthcare professionals, and end-users are actively seeking ecologically friendly, sustainable goods and packaging to render less plastic usage and reduced environmental effects.
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The surging efforts by rigid packaging market participants to develop innovative solutions to meet these needs will also propel the industry expansion. For instance, in October 2022, STERIMED, a provider of sterilization packaging materials, introduced POLYBOND CGP 85, a new substrate for rigid intelligent packaging demands to its proven polymer-reinforced cellulose-based product portfolio for the healthcare industry.
Paperboard rigid packaging to witness high demand
The paperboard rigid packaging market amassed substantial revenue in 2022 and is anticipated to foresee significant evolution through 2032. With the escalating environmental concerns, businesses are increasingly choosing paperboard packaging to reduce their carbon footprint and meet sustainability goals. Moreover, the surging advancements in paperboard technology, such as improved barrier properties and coatings have led to the increasing packaging of products that require protection from moisture, oxygen, and light. For instance, in May 2023, Stora Enso, Blue Ocean Closures, and AISA collaborated to create the world's first paperboard tube with fiber-based closure by utilizing a unique wood fiber-based approach to assist brand owners in increasing the percentage of renewable material in their packaging.
Cartons and Boxes to gain significant traction
Rigid packaging market from the cartons and boxes segment is anticipated to record robust gains through 2032. Owing to their adaptability and ability to accommodate various product shapes and sizes, cartons and boxes witness widespread adoption across industries, including food, beverages, pharmaceuticals, and consumer goods as versatile packaging solutions. Lately, several businesses are focusing on reducing total plastic content in product packaging as compared to other traditional packaging options, leading to increasing product demand. To cite an instance, in June 2023, Luoro, headquartered in Germany, collaborated with carton producer Elopak to offer carton packaging for its oral hygiene brand, Paperdent.
Electronics end-use segment to depict notable development
The electronics end-use segment held considerable share of the rigid packaging market in 2022 and is poised to record significant progress by the end of 2032. This can be attributed to the surging need for sturdy and protective packaging solutions to safeguard fragile and sensitive electronic components during shipping and storage. Lately, the demand for rigid packaging, such as boxes and trays has considerably soared as they provide the required structural integrity and protection against shocks and vibrations. The proliferation of electronic devices, including smartphones, tablets, and consumer electronics has also led to the surging popularity of customized and precisely engineered packaging solutions.
Asia Pacific to emerge as a lucrative market destination
Asia Pacific rigid packaging market is set to expand at notable growth rate through 2032. The surge in e-commerce activities across the several Asian countries has surged the need for robust and secure packaging to protect products during transit. Additionally, the COVID-19 pandemic has accelerated the adoption of online shopping, further boosting the demand for rigid packaging. Moreover, the presence of booming electronic manufacturing sector. For instance, in November 2021, ABB Robotics partnered with Zume, a global manufacturer of innovative biodegradable packaging, to produce sustainable packaging on a worldwide scale for reducing the dependency on single-use plastics.
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Rigid Packaging Market Participants
Some of the prominent rigid packaging companies include Smurfit Kappa Group, Amcor plc, Sonoco Products Company, Crown Holdings, Inc., Berry Global Group, Inc., Sealed Air Corporation, WestRock Company, Ball Corporation, Silgan Holdings Inc., RPC Group, Graphic Packaging Holding Company, Ardagh Group S.A., Owens-Illinois, Inc., Huhtamaki Oyj, Gerresheimer AG, among others.
Partial Table of Contents (ToC) of the report:
Chapter 3 Rigid Packaging Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Industry pitfalls & challenges
3.3 Growth potential analysis
3.3.1 By material type
3.3.2 By product type
3.3.3 By production process
3.3.4 By end-use
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Pricing analysis, 2022
3.7 Technology landscape
3.7.1 Future market trends
3.8 Porter's analysis
3.9 PESTEL analysis
3.10 Impact of Russia Ukraine war
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