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The Global Rigid Plastic Packaging Market size is valued at USD 226.75 billion in 2023 and is predicted to reach USD 341.62 billion by the year 2031 at a 5.39% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The market is expected to grow due to the increasing awareness of environmental issues, which has resulted to a increased demand for sustainable packaging solutions.
- Ongoing advancements in materials and manufacturing technologies are expected to drive industry growth.
- Asia Pacific dominated the market and accounted for a revenue share of global revenue in 2023.
- One of the significant concerns restraining industry growth is insufficient recycling infrastructure, coupled with inconsistent recycling practices.
The elevated demand for sustainable and eco-friendly packaging options is the main factor driving the market for rigid plastic packaging, and it is creating potential growth chances for producers. Researchers and global market participants are collaborating to address issues facing the rigid plastic packaging business and satisfy demand from various end-use industries, such as food, home care, personal care, electronics, healthcare products, etc. Due to the increased need for plastic packaging systems, rigid plastic packaging solutions are utilized in various industry verticals, including agriculture, medicine, personal care, and pharmaceuticals.
However, it is projected that strict government rules regarding the use of plastic and fluctuations in the price of raw materials will impede the expansion of the world market for rigid plastic packaging. On the other hand, the increase in e-commerce sales would create profitable chances for the market's expansion.
Recent Developments:
- In July 2022, Alpla purchased the Polish firm Apon, which manufactures plastic containers for the pharmaceutical industry; bottles, containers with screw caps or snap lids, dosage aids for medical equipment, packaging for food supplements, and packaging for e-liquids are all made by Apon.
- In June 2022, A brand-new breakthrough was announced by Siegwerk, a top supplier of printing inks and coatings for labels and packaging applications, an improved deinking created specifically for rigid plastic packaging that substantially simplifies commercial mechanical recycling.
Competitive Landscape:
Some of the major key players in the rigid plastic packaging market are:
- ALPLA-Werke Alwin Lehner GmbH & Co KG
- Amcor Limited
- DS Smith Plc
- Berry Plastics Corporation
- Klöckner Pentaplast
- Plastipak Holdings, Inc.
- Pactiv Evergreen Inc
- Sealed Air Corporation
- Silgan Holdings, Inc.
- Sonoco Products Company
Market Segmentation:
The rigid plastic packaging market is segmented based on type, end-use industry, raw material and production process. The market is segmented based on type: bottles & jars, rigid bulk products, trays, tubs, cups, and pots. By end-use industry, the market is categorized into food, beverages, healthcare, cosmetics & toiletries. Based on raw material, the market is categorized into bioplastics, polyethylene (PE), polyethylene terephthalate (PET), polystyrene (PS), polypropylene (PP), polyvinyl chloride (PVC), expanded polystyrene (EPS), and others (PC, polyamide). Based on the production process, the market is further segmented into extrusion, injection molding, blow molding and thermoforming.
Based On Raw Materials, The Polypropylene Segment Is A Major Contributor To The Rigid Plastic Packaging Market
The rigid plastic packaging market's greatest share belonged to the polypropylene (PP) material category. Compared to other plastic materials like polyethylene, polyethylene terephthalate (PET), polystyrene (PS), and others, polypropylene offers good barrier qualities, improved surface polish, low cost, and high tensile strength. These features make polypropylene an ideal material for a range of packaging applications. Some expanding uses for polypropylene include medicine bottles, ketchup and syrup containers, bottle caps and closures. The market for rigid plastic packaging will increase over the projection period due to the rising demand for polypropylene (PP) material.
The Bottles & Jars Segment Witnessed Growth At A Rapid Rate
The rigid plastic packaging market's bottles and jars segment held the most significant market share. Juices, carbonated soft drinks, water, cosmetics, personal care items, pharmaceuticals, and food items are just a few products packaged in rigid plastic bottles and jars. Due to their durability and low weight, the demand for bottles and jars is increasing along with the rise of numerous end-use industries, including healthcare, cosmetics and personal care, and other industries.
The Asia Pacific Rigid Plastic Packaging Market Holds A Significant Revenue Share In The Region
The Asia Pacific rigid plastic packaging market is expected to witness the highest market share due to the increased demand for rigid plastic packaging in developing countries like Japan, China, India, and South Korea. China will dominate the rigid plastic packaging market throughout the forecast period. This is a result of the growing pharmaceutical, personal care and cosmetics, and food and beverage industries in the nation.
Additionally, it is projected that India and Indonesia's rigid plastic packaging markets will grow during the forecast period. Due to the expanding healthcare sector, the Asia Pacific region now monopolizes the rigid plastic packaging market. Additionally, Europe is expected to experience a slow growth rate throughout the projected period despite overtaking Asia Pacific as the second-largest regional market for plastic packaging. The region's market is expanding slowly, explained mainly by strict limits on the use of plastic packaging and high consumer awareness of sustainability.
Rigid Plastic Packaging Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 226.75 Bn |
|
Revenue forecast in 2031 |
USD 341.62 Bn |
|
Growth rate CAGR |
CAGR of 5.39% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, & Volume (Tons) and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Type, End-Use Industry, Raw Material And Production Process |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Amcor Ltd. (Switzerland), Berry Global Group Inc. (US), Pactiv LLC (US), Holdings Inc. (US), Products Company (US), DS Smith Plc (UK), Alpla (Austria), Sabic (Saudi Arabia), AI Jabri Plastic Factory (UAE), Takeween Advanced Industries (Saudi Arabia) |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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