GCC Rigid Plastic Packaging Market Size, Segment by Key Companies, Types , Applications and outlook 2021-2025

Global “GCC Rigid Plastic Packaging Market” 2021 Research report produces information with reference to market size, share, trends, growth, cost structure, capacity, revenue, and forecast 2025. This report also contains the general and comprehensive study of the GCC Rigid Plastic Packaging market with all its aspects influencing the growth of the market. This report is a full-scale quantitative survey of the GCC Rigid Plastic Packaging industry and provides data for building strategies to expand the market growth and effectiveness.

The GCC Rigid Plastic Packaging Market was valued at USD 5.5 billion in 2020, and it is expected to reach USD 7.11 billion by 2026, registering a CAGR of 4.4% during the forecast period (2021-2026). 

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Key Market Trends

Beverage Segment is Expected to Witness Significant Growth

- The region has some of the highest rates of bottled water consumption in the globe. The United Arab Emirates is among the leading countries in the region in terms of bottled water. According to recent research undertaken by academics, the country has experienced a 36% increase in its bottled water consumption in the past 5 years with per capita consumption reaching 34 gallons per person. This continuous rise is expected to generate substantial opportunities for plastic and glass bottling companies operating in the region.
- In addition, consumers are more conscious of the need for healthier diets. The increased demand for bottled water, in turn, is expected to augment the growth of the bottled water packaging market in the GCC region. According to the part of the survey conducted by Qatar Environment and Energy Research Institute (QEERI), a member of Qatar Foundation for Education, Science and Community Development only 30% oh household used tap water for drinking.
- Further, Saudi Arabia is one of the highest consumers of soft drinks, especially sugary drinks, which is also a significant consumer for glass bottles. Due to the growing obesity concerns among the population, due to high soft drink consumption, the government imposed an increased tax on beverages, which resulted in over 67% increase in soft drink prices.
- Post-implementation of these taxes, the American Society for Nutrition, in its recent article, mentioned that the volume per capita consumption of soda and energy drinks reduced by 41% and 58% in 2018 and 2016, respectively. This is expected to limit the demand for glass bottles used for these products to an extent in the country. As a result there is a significant demand for PET bottles for the packaging of water and other soft drinks. For instance, Almarai developed its business through strategic investments. It is the largest producer and distributor of soft drinks in the Middle East. As the leader in the juice market, Almarai installed two new Sidel PET complete lines, each one handling 54,000 bottles/hr, in its Al Kharj central processing plant (CPP).

Saudi Arabia is Expected to Hold Major Share

- The low crude oil price situation in the global market realized the need for a stronger non-oil sector. To strengthen the country’s non-oil sector, Saudi Arabia has been implementing several initiatives and regulatory reforms, such as National Industrial Development and Logistics Program (NIDLP), Vision 2030, etc., which are expected to increase the industrial production in the region. Additionally, the strong growth in the non-oil sector revenues and a considerable recovery in the Saudi Arabian economy, owing to the reviving crude oil prices, are expected to set a positive outlook for the packaging industry in the country.
- As the largest economy in the region, by both GDP and population, Saudi Arabia has the largest pharmaceuticals market in the GCC region. Moreover, the development of four economic cities is also expected to create new opportunities for the establishment of pharmaceutical processing and packaging units in this region. For instance, the King Abdullah industrial city has been mooted for the growth of the pharma sector. The companies, like Pfizer (Saudi), invested in developing pharma manufacturing and packaging facility in the area.
- With the increasing costs of imported pharmaceuticals, the government is motivating local packaging and manufacturing activities. In addition, the easing of trade sanctions is expected to open new avenues for these players to set up their packaging and processing plants. Boehringer's recent market activity can be considered as a significant example, as the company collaborated with Cigalah and Tabuk (local companies) for secondary packaging of its products, in compliance with local regulatory standards.
- Under the country�s long-term development plan, Vision 2030, and its shorter-term goals set out in the National Transformation Program (NTP), which runs through 2020, a significant shift toward locally produced and packaged medicines and drugs is set to take place. Currently, only 30% of the pharmaceutical products are manufactured locally.

Industry News and Update:

- In August 2019, SABIC acquired a 24.99% stake in the Swiss chemical player, Clariant, from the 'activist shareholder, White Tale, as a venture that would strengthen its specialties vertical.?
- In July 2019, in Dubai, Nestles brand Valvert launched a bottle made entirely from recycled PET (rPET). Valvert secured a dependable supply of the high-quality food-grade rPET that is required for bottled water.

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Important Features that are under offering and key highlights of the report:
– Detailed overview of the GCC Rigid Plastic Packaging market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of the GCC Rigid Plastic Packaging market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
– A neutral perspective towards GCC Rigid Plastic Packaging market performance
– Must-have information for market players to sustain and enhance their market footprint

The research includes historic data from 2015 to 2021 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the GCC Rigid Plastic Packaging Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. GCC Rigid Plastic Packaging industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

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