Rigid Packaging Market Size Grow at 5.9% of CAGR till 2028 - | by Top Key Players - BASF SE, RESILUX NV, Holmen AB,

The Global Rigid Packaging Market is projected to reach USD 918.37 billion by 2028, growing at a CAGR of 5.9% during the forecast period. Packaging is the process by which finished goods or products are enclosed or protected for production, storage, sale, and end-use.

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Know more about rigid packaging-

Rigid packaging is perfect for long-distance transportation, as it helps to keep finished products safer for longer. It is used in various forms for packaging products, such as bottles, cans, ampules, aerosol containers, aluminum bottles, and jars. Rigid plastic packaging has high rigidity, high impact resistance and high barrier properties. Rigid packaging involves the use of materials for packaging applications, such as rigid plastics, metal, glass and others. Over a period of time a wide range of rigid packaging materials was developed.

Factors influencing the growth and demand of the rigid packaging market-

Growth on the global rigid packaging market is driven largely by higher demand for consumer goods, higher rates of packaging recycling and low cost of rigid plastic packaging. Nevertheless, the development of the rigid packaging industry is curbed by variables such as increased acceptance of flexible packaging products, financial uncertainty in the Eurozone, fluctuating raw material prices and strict regulations. The rigid packaging market is segmented by material into metal, plastics, glass, paperboard and others.

The rigid packaging market is driven largely by increasing demand from fresh food & beverages, home & personal care goods, and retail pharmaceutical industries and growth. In the global rigid packaging market, the fastest-growing type of material is the other segment consisting of bio-plastics and wood. Bio-plastics are made from the biodegradable feedstock, which allows them to degrade similarly to other organic matter into the soil.

Important developments in the rigid packaging market:

o In April 2016, the rigid packaging and flexible lidding materials division of Winpak Portion Packaging, Canada, began the construction of a 348,000 ft2 expansion of its existing LogistiCenter facility at Sauk Village in Illinois.

o DS Smith Plastics, part of DS Smith Plc, in September 2017; (UK), opened a new production plant in Romeoville, Illinois. The new facility is the first rigid packaging manufacturing operation by DS Smith Plastics in North America where the company has six additional flexible packaging production sites.

o In August 2018 Amcor Ltd. (Australia) acquired Bemis Company Inc., a flexible and rigid plastic packaging manufacturer based in the US. The acquisition will help Amcor expand its product portfolio and enhance its presence on the US rigid packaging market.

What has an impact on the growth of the rigid packaging market:

o High demand for consumer goods and high recycling rates.

o Low rigid plastic packaging costs.

o Increasing acceptance of flexible packaging products.

o Increasing the consumption of alcohol in several regions.

o Increasing urbanization and booming online sales in the Asia Pacific.

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Insights about market segmentation by QMI-

The bottle & jars segment is expected to increase at the highest rate, based on product. This is due to increasing alcohol consumption in China, India, and ASEAN countries, which is one of the major factors fueling this segment's growth, which in turn is fueling growth for rigid packaging. In Europe too, alcoholic beverage consumption is increasing at an enormous rate, particularly in countries such as France, Italy and Germany. In addition, rising demand for different shapes of bottles used for alcoholic beverages is also increasing this segment's growth.

The applications-based global rigid packaging market has been classified into food & beverages, healthcare, personal care, consumer goods and others. Asia-Pacific is expected to be the most dominant region for the market for rigid packaging, by geography. The Asia-Pacific region's dominance is due to the region's presence of a large number of food & beverage and personal care product producers. High economic growth rates and a huge population in China and India's emerging markets are the main drivers for Asia Pacific's rigid packaging market.

North America and Europe are among the more mature rigid packaging markets. Major end-user industries such as food & beverage and personal care have reached their peak levels which restrains the market growth in these regions. Europe is also expected to have a significant share in the rigid packaging market. The food and beverages and other personal care product industries in the region have attained a saturation point and many of the countries in the region have attained a high per capita consumption of packaged goods.

What Does This Report Provide?
This report provides a detailed understanding of the global rigid packaging market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with a potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the rigid packaging market.

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Market Segmentation:

By Material:
o Metals
o Plastics
o Glass
o Paperboard
o Others

By Product:
o Bottle & Jars
o Trays
o Boxes
o Containers
o Cans
o Others

By Application:
o Food & Beverages
o Healthcare
o Personal Care
o Consumer Goods
o Others

By Region:

North America
o By Country (US, Canada, Mexico)
o By Material
o By Product
o By Application

Western Europe:
o By Country (Germany, UK, France, Spain, Rest of Western Europe)
o By Material
o By Product
o By Application

Eastern Europe:
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Material
o By Product
o By Application

Asia Pacific
o By Country (China, Japan, India, Rest of Asia Pacific)
o By Material
o By Product
o By Application

Middle East:
o By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
o By Material
o By Product
o By Application

Rest of the World
o By Region (South America, Africa)
o By Material
o By Product
o By Application

Major Companies profiled in the report which are key players in the global rigid packaging market are DS Smith Plc, Holmen AB, Georgia-Pacific LLC, MeadWestvaco Corporation, BASF SE, Amcor Limited, Berry Plastics Corporation, The Dow Chemical Company, Ball Corporation, Bemis Company Inc., Reynold Group Holdings Limited, Sealed Air Corporation, and RESILUX NV.

Reasons to Buy This Report:

o Market size estimation of the global rigid packaging market on a regional and global basis.

o The unique research design for market size estimation and forecast.

o Profiling of major companies operating in the rigid packaging market with key developments.

o Broad scope to cover all the possible segments helping every stakeholder in the rigid packaging market.

Contact:
Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: +91 - 9850603687 / 7972869557
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com

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This release was published on openPR.