Acumen research and consulting estimates that the global rigid plastic packaging market is anticipated to reach the market size of around US$ 772 Bn by 2027 and is anticipated to grow at a CAGR of around 6% in terms of revenue during the forecast period 2020 – 2027.
Packaging is the method used to cover and protect products that are available for storage, distribution, sale, and end-use. The most durable plastics used for various packaging items or fabrics are rigid plastics. Due to properties such as readily mouldable, light weight, non-corrosive and inexpensive, they are highly favored for industrial purposes. In addition, rigid plastic packaging is used to increase the product's shelf-life. Plastic packaging contains a number of types, ampules, fillers, bottles, cans of copper, barrels and cans of aerosols.
The key factor such as rising demand for biodegradable rigid plastic packaging is likely to propel the growth of market during forecast period. Additionally, the rise of global rigid plastic packaging markets helps people moving towards beverages and other household products. In comparison, urbanization is growing and allows the demand to expand. In fact, rising people disposable income had a positive effect on potential market growth. The demand for rigid plastics in the market is gradually growing, including higher rigidity, barriers and strengths. During forecast period the rigid plastic packaging industry will be powered by revolutionary concepts for food and beverage packaging. High demand for specialized plastic rigid packaging can to some degree impede market development. However, the rising use of BisphenolA (BPA) in plastic product development poses a major challenge for the global rigid packaging industry.
The market research study on “Rigid Plastic Packaging Market (By Type: Bottles & jars, Rigid bulk products, Trays Tubs, cups, & pots, Others (blister & clamshell packs and rigid plastic tubes); By Production Process: Extrusion, Injection molding, Blow molding, Thermoforming, Others (foam extrusion, calendaring and roto molding); By Raw Material:, Bioplastics, Polyethylene (PE), Polyethylene Terephthalate (PET), Polystyrene (PS), Polypropylene (PP), Polyvinyl Chloride (PVC), Expanded Polystyrene (EPS), Others (PC, PLA, Polyamide); By Application: Food, Beverage, Healthcare, Cosmetics & toiletries, Industrial, Others (consumer goods, agricultural and homecare)) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global rigid plastic packaging market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global rigid plastic packaging market are type, production process, raw material, application, and major geographic regions. The rigid plastic packaging market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. Asia Pacific held the major share in the global market and also expected to grow during forecast period 2020-2027. Furthermore, growing competition for rigid plastics is projected to boost the market in China during forecast period. In near future, the increasing demand in China for food and beverage industry will also show a favorable growth in the market. Europe accounts for significant growth in the market due to increasing financial stability. North America is followed by Europe. In addition, the rapidly developing North America manufacturing network is projected to improve the demand for rigid plastic packaging.
The demand is fragmented for rigid plastic packaging. Industries aim to produce lightweight and effective corrugated grades to reduce costs and boost packaging efficiency. The industry is highly competitive due to the involvement of many players. Major players include in this report are Amcor Limited, ALPLA-Werke Alwin Lehner GmbH & Co KG, DS Smith Plc, Klöckner Pentaplast, Berry Plastics Corporation, Plastipak Holdings, Inc., RPC Group Plc, Reynolds Group Holdings, Silgan Holdings, Inc., Sonoco Products Company, and others.
The global rigid plastic packaging market is segmented as below:
Rigid Plastic Packaging Market By Type
Rigid Plastic Packaging Market By Production Process
Rigid Plastic Packaging Market By Application
Rigid Plastic Packaging Market By Geography
Middle East & Africa
According to Acumen Research and Consulting, the rigid plastic packaging market value is anticipated to be worth around US$ 772 Bn in 2027.
The rigid plastic packaging market is anticipated to grow around 6% CAGR amid the forecast period.2020-2027
Asia Pacific held maximum share in 2019.
Asia Pacific is projected to grow at a fast pace during forecast period from 2020-2027.
Increasing demand for convenient packaging solutions is the major drivers for the growth of the rigid plastic packaging market.
High competition among advanced rigid plastic packaging is a major factor expected to restraint the growth of the market.
Major players include in the rigid plastic packaging market are Amcor Limited, ALPLA-Werke Alwin Lehner GmbH & Co KG, DS Smith Plc, Klöckner Pentaplast, Berry Plastics Corporation, Plastipak Holdings, Inc., RPC Group Plc, Reynolds Group Holdings, Silgan Holdings, Inc., Sonoco Products Company, and others.