Rigid Plastic Packaging Market To Reach USD 334.0 Billion By 2027 | CAGR 4.6% — Forencis Research
Global Rigid Plastic Packaging Market: Key Highlights
- According to the new market research report “Rigid Plastic Packaging Market by Raw Material (Bioplastics, Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polystyrene (PS), Polyvinyl Chloride (PVC), Expanded Polystyrene (EPS), Others), by Type (Bottles & Jars, Trays, Rigid Bulk Products, Tubs, Cups, & Pots, Others), by Production Process (Extrusion, Injection Molding, Blow Molding, Thermoforming, Others), by End-use (Food & Beverages, Healthcare, Personal Care, Industrial Packaging, Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global rigid plastic packaging market is estimated to reach USD 334.0 Billion by 2027 at a CAGR of around 4.6% during the review period.
- Rigid plastic packaging is a type of packaging technique which involves usage of plastic materials and does not easily squeezed
- It offers various advantages such as cost-effective, durability, recycling properties and can be molded in desired shapes
- Rigid plastic packaging offers superior properties such as high stiffness, high impact strength, and high barrier
Global Rigid Plastic Packaging Market: Key Market Dynamics
- Growing demand for processed and convenience food & beverages has expected to drive the growth of rigid plastic packaging during the forecasted period
- Improvement in recycling rates for packaging globally has anticipated to drive the rigid plastic packaging market globally
- Stringent regulations imposed by the federal government to regulate food, drugs, and cosmetic packaging has expected to hinder the growth of the market during the forecasted period
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Global Rigid Plastic Packaging Market: Regional Overview
- North America
North America is anticipated to grow at a substantial growth rate in the rigid plastic packaging market. Robust growth in the food & beverage industry is one of the major factor propelling the regional growth. For instance, according to the Government of Canada, the Canadian food & beverages processing industry is the world’s second-largest manufacturing industry in terms of the value of production and sales of goods manufactured was valued USD 117.8 billion in 2019. Additionally, exports of processed food and beverages was valued USD 38.9 billion in 2019 with an increase of 7% over 2018. Moreover, regulations regarding recycling and sustainability of materials in order to maintain environmental balance have triggered thes demand for bioplastic packaging solutions.
The Asia-Pacific is anticipated to be the fastest-growing region in rigid plastic packaging market during the forecasted period. This growth can be attributed to growing urbanization and industrialization in emerging economies such as India, China and Japan. Additionally, these economies also lead in the export of goods to various parts of world. For instance, according to Agricultural & Processed Food Products Export Development (APEDA), India’s export of processed food was USD 424.25 million in 2019. Additionally, according to United States Department of Agriculture, China’s food processing industry grew by 6.3% in 2017, and food export in 2017 was valued USD 62.6 billion.
Global Rigid Plastic Packaging Market: Key Players Overview
- Amcor plc:
Amcor plc is engaged in developing and producing responsible packaging solutions. The company offers packaging solution for beverage, food, healthcare, home care, persona care, pet care, and technical application. The company operates through two business segments namely Flexible packaging, and rigid packaging. Amcor plc has 250 manufacturing sites located in more than 40 countries across the globe. In February 2018, Amcor plc launched commercial container by utilizing LiquiForm technology. This will help to improve packaging consistency and lower the carbon footprint associated with filling and packaging.
ALPLA is one of the global leaders in developing and producing plastic packaging solutions. The company offers packaging system, bottles, closures, injection moulded parts, performs, and tubes products for various markets such as food, beverages, milk & dairy, beauty care, home care, oil & lubricants, and pharmaceuticals. ALPLA has 181 production facilities, including 71 in-house located in more than 46 countries. In May 2020, the company acquired Bopla S.A., expertise in the area of single-stage manufacturing technologies. This acquisition will strengthen the product portfolio in cosmetics, personal, and household care market.
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