Global Rigid Plastic Packaging Market is Anticipated to reach a value of US $3908.10 Billion in 2030 with CAGR of 43.2%

The Global Rigid Plastic Packaging Market valued at US $221.01 Billion in 2022 is anticipated to reach a value of US $3908.10 Billion in 2030, growing at a CAGR of 43.2%. The growth of the rigid plastic packaging market is majorly driven by rapid expansion of the food & beverage industry, which, in turn, fuels the demand for bottles, jars, fruit juice containers, food package container, and foodie bags.

In addition, rigid plastic packaging solution is used in various industry verticals such as agriculture, medical, personal care, and pharmaceuticals, owing to rise in demand for plastic packaging systems. The advancements in terms of product innovations and technologies in the market are also expected to create strong investment opportunities for global players.

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The global rigid plastic packaging market is divided into four segments: material, manufacturing process, end-user industry, and region. The market is divided into polyethylene (PET), polypropylene (PP), high-density polyethylene (HDPE), and others based on material. The polyethylene (PET) category dominated the market in 2020, owing to polyethylene's associated features such as low cost, toughness, and improved chemical resistance.

The market is divided into extrusion, injection moulding, blow moulding, thermoforming, and others based on the manufacturing process. Injection moulding led the global rigid plastic packaging market in 2020, owing to advantages such as high efficiency, increased strength, and cheap labour costs. The market is divided into end-user industries such as food and drinks, personal care, home, healthcare, and others.

Market Key Players:

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., and Sonoco Products Company.

Market Key Trends:

Growth in the packaging industry

The packaging industry has witnessed constant changes over the years while it emerged as one of the largest sectors in India's economy. According to the Packaging Industry Association of India (PIAI), the sector is growing at 22% to 25% per annum.

The Fast-Moving Consumer Goods (FMCG), food processing sector, and pharmaceuticals are also some of the biggest contributors driving the growth of the packaging industry in the country for a long time. In recent years, there has been a new user facilitating the growth of the Indian packaging industry that is e-commerce.

Change in lifestyle patterns

An increase in the number of working women and dominance of nuclear and double-income families, especially in urban areas, are the trends that shape the lifestyles of a majority of consumers in emerging economies. Busier lifestyles demand on-the-go products that reduce the time spent on cooking, which contributes to the development of the convenience packaging market, which, in turn, impacts the rigid plastic packaging market. Moreover, rising disposable income and increasing consumption of packed goods will also fuel the demand for rigid packaging in emerging markets.

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Market Segmentation:

The global rigid plastic packaging market can be segmented based on various factors, including:

Material type: This includes segments such as PET, HDPE, PVC, PP, and others.

Product type: This includes segments such as bottles, jars, containers, trays, and others.

End-use industry: This includes segments such as food and beverages, healthcare, personal care, household products, and others.

Technology: This includes segments such as injection molding, blow molding, thermoforming, and others.

Region: This includes segments such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

FAQs: 

1. What are the major drivers which aid this Market?

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3. Which is the fastest growing region in this Market?

4. What are some major strategies used by top players for the expansion of their business in this Market?

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Key Points: 

Define, describe and forecast Potentiometers product market by type, application, end user and region.

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Provide strategies for company to deal with the impact of COVID-19.

Provide market dynamic analysis, including market driving factors, market development constraints.

Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.

Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.

Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.

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Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
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Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region

Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled

Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players

The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

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