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Rigid Plastic Packaging Market Analysis, Growth, Research, Types, Regions and Forecast 2026
Rigid Plastic Packaging Market
The global market growth is expected to be driven by surge in adoption of rigid plastic packaging in the food & beverage industry and rise in demand for foodie bags, bottles, and containers from the healthcare industry. Key market players aim to explore new technologies and products to meet increasing customer demands. Product launch and business expansion are expected to enable them to expand their product portfolios and penetrate different regions. Emerging economies provide lucrative opportunities to market players for growth and expansion.
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Surge in consumption of consumer goods across the globe and low cost of rigid plastics drive the growth of the global rigid plastic packaging market. However, fluctuating raw material prices hinder the market growth. Furthermore, growth in sales on e-commerce platforms such as Amazon, Alibaba, and Flipkart across the globe is expected to create new growth opportunities for the market players during the forecast period.
Top Players:
Leading market players analyzed in the research include DS Smith Plc, ALPLA-Werke Alwin Lehner GmbH & Co KG, Klöckner Pentaplast, Amcor Limited, Reynolds Group Holdings, Berry Plastics Corporation, Silgan Holdings, Inc., Plastipak Holdings, Inc., Sonoco Products Company, and RPC Group Plc
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The report offers a detailed segmentation of the global rigid plastic packaging market based on material, end-user industry, and region.
Based on material, the PET segment contributed to the largest share in 2018, holding nearly three-fourths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the PP segment is estimated to portray the highest CAGR of 6.1% from 2019 to 2026.
Based on end-user industry, the food and beverage segment accounted for the largest share in 2018, holding more than half of the total share, and is expected to maintain the largest share throughout the forecast period. However, the healthcare segment is expected to register the highest CAGR of 7.4% from 2019 to 2026.
Based on region, Asia-Pacific contributed the highest share, accounting for more than one-third of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, North America is expected to grow at the CAGR of 5.1% from 2019 to 2026.
Key Findings Of The Study
• The report provides an extensive analysis of the current and emerging global rigid plastic packaging market trends and dynamics.
• Depending on material, the PET segment was the largest revenue generator in 2020.
• By production process, the injection molding segment generated the highest revenue in 2020.
• On the basis of end-user industry, the food & beverage segment accounted for the highest revenue in 2020.
• Region wise, Asia-Pacific is anticipated to dominate the global rigid market throughout the study period.
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