Rigid Packaging Containers Market is expected to grow at a 4.0% CAGR from 2022 to 2032

With an increase in manufacturing operations and more affordable labour in economies in East Asia and South East Asia, the crucial function of plastic in packaging has advanced significantly. The expansion of global trade has led to an increase in the manufacturing of various goods, including chemicals, paints, electronics, and electrical components.

It goes without saying that this has increased the demand for drums, which are needed for packaging and are made of rigid packaging materials like plastic. As commerce develops, end users will exhibit a high demand in the following ten years. This type of rigid packaging has been used more and more over the years due to its exceptional strength, light weight, and recyclable nature.

Despite the contentious discussions surrounding the use of plastic, analysts at FMI expect that this tendency will continue.

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Rigid Packaging Containers Market Outlook & Key Findings

Rigid packaging containers market is projected to reach over US$ 235 Bn in the next 5 years
Consistent demand for rigid packaging containers for contamination-free storage of both industrial and non-industrial goods uplifts market growth
Rigid packaging containers market projected to expand at CAGR of 4.0% during the forecast period
Asia Pacific and Europe are anticipated to dominate with market value share by approximately 65% in the global rigid packaging containers market by 2030
Uptake of rigid packaging solutions sprint toward using recycled and recyclable materials as consumer consciousness shifts
Rigid Packaging Containers: A Sturdy Future Ahead

The growth trend of the rigid packaging containers market is likely to be upward in the coming decade. Though Y-o-Y growth is steady, market is projected to record 4.4% growth from 2022. Prominent industries such as food, beverages, healthcare, personal care, and others are significantly dependent upon rigid packaging containers such as bottles, jars, cans, and drums to pack, store, and transport the goods.

New environmental regulations and end user industries approach towards sustainable rigid packaging containers such as plastic and steel drums, jerry cans, kegs have led manufacturers to update their recycling program and manufacture highly sustainable rigid packaging containers.

Rigid Packaging Containers Market: Regional Analysis

North America is severely affected with COVID-19, which has drastically hindered the usage of rigid packaging containers. Moderate shutdowns in production plants coupled with labor strikes and job cuts are anticipated to slow down the growth rate for rigid packaging containers in the region.

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Rigid Packaging Containers: Competition Landscape

The global rigid packaging containers market is fragmented in nature with key manufacturers focusing on providing tailored solutions as per the end-use industry demand. The leading manufacturers operating in the global rigid packaging containers market are focusing on maximizing production volume, expanding their reach globally, and diversifying their product portfolio.

For Instance, in 2016, Ball Corporation, one of the leading beverage can manufacturers acquired Rexam PLC, a manufacturer of aluminum and steel cans for carbonated soft drinks, energy drinks, beer, and other beverages. This acquisition enabled Ball Corporation to maximize its production volume of beverage cans.

Some of the key players in the rigid packaging containers market are-

Grief, Inc.
Amcor Plc
Berry Global Group, Inc
Silgan Holdings, Inc
Sonoco Products Company
Mauser Packaging Solutions
Ball Corporation
Crown Holdings, Inc
Pactiv LLC
SCHÜTZ GmbH & Co. KGaA
Market Taxonomy

By Product Type:

Bottles & Jars
Cans
Jerry Can
Drums
Kegs
Clamshells
By Material:

Plastic
Polyethylene Terephthalate (PET)
Polyethylene (PE)
Polypropylene (PP)
Others Plastic
Metal
Steel
Aluminum
Other Metals
By Capacity:

Up to 5 Litre
5 to 20 Litre
20 to 50 Litre
50 to Above
By End Use:

Food
Beverages
Homecare Products
Personal Care Products
Healthcare Products
Electronics & Electrical
Industrial Goods
Others
By Region:

North America
Latin America
Europe
Asia Pacific
MEA
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This release was published on openPR.