Evolving Trends: The Rigid Packaging Containers Market's Journey to US$ 308.7 Billion by 2032 with a 4.0% CAGR

Introduction

In today's fast-paced world, packaging plays a crucial role in preserving and presenting products. The Rigid Packaging Containers Market stands as a cornerstone of the packaging industry, offering a sturdy and protective solution for various products. From food to electronics, cosmetics to industrial goods, rigid packaging containers have revolutionized how products are stored, transported, and displayed. In this article, we'll delve into the depths of this market, uncovering its dynamics, advantages, and potential for innovation.

With a market valuation of US$ 208.6 billion in 2022, the global rigid packaging containers market is poised for a steady growth journey, with expectations to reach an impressive US$ 308.7 billion by 2032, reflecting a robust CAGR of 4.0%.

Rigid Packaging Containers Market: Redefining Product Protection

Packaging isn't merely about aesthetics; it's about safeguarding the integrity of products. The Rigid Packaging Containers Market excels in this regard, providing a robust shield against external factors that could compromise the quality of goods. These containers are typically made from materials such as plastic, metal, glass, or even wood, depending on the product's nature and requirements.

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Rigid Packaging Containers Market Competition Landscape

Crown Holdings, Inc, Mauser Packaging Solutions and Ball Corporation are the top players operating in the rigid packaging containers market. Furthermore, Grief, Inc., Amcor Plc, Berry Global Group, Inc, Silgan Holdings, Inc and Sonoco Products Company are prominent players in the rigid packaging containers market. The Tier 3 players in the market hold 80-85% in the global rigid packaging containers market. In conclusion, key players contribute almost 15% of the global market.

Key Takeaways from Rigid Packaging Containers Market

1. The bottles and jars segment is experiencing unmatchable demand in the rigid packaging containers market, especially in the food & beverages industries
2. Up to 5 litre capacity rigid packaging cans and bottles estimated to account for more than 40% in terms of value of the market share by 2030
3. Plastic as a material is estimated to account for more than 55% of the global market by value to reach slightly over US$ 155 Bn by 2030
4. Asia Pacific is estimated to have an incremental opportunity of approximately US$ 32 Bn in the next 8 years with presence of large number of rigid packaging container manufacturers in the region
5. Food & beverage industry estimated to be the key end user of rigid packaging containers as it is poised to account for over 40% of the rigid packaging containers global market share by 2030

The Major Key Players Are:

1. Grief, Inc.
2. Amcor Plc
3. Berry Global Group
4. Silgan Holdings, Inc
5. Sonoco Products Company
6. Mauser Packaging Solutions
7. Ball Corporation
8. Pactiv LLC
9. SCHÜTZ GmbH & Co. KGaA
10. Winpak Ltd.
11. WestRock Company
12. Sabert Corporation
13. International Paper Company
14. Fabri-Kal Corporation
15. Georgia-Pacific LLC
16. Smurfit Kappa Group
17. Crown Holdings Inc.

Growing Preference for Smart Rigid Packaging Solutions to Augment Market Growth

Rigid packaging solutions such as drums and beverage cans are extensively being used. However, addition of technologies such as RFID and AR for easy tracking and tracing of products is expected to bring in a sea-change in the logistics and supply chain.

RFID technology allows automatic identification and storage of information regarding the location and availability of plastic and steel drums. It offers solutions for product tracking, goods movements, loading inspections, and asset tracking. RFID technology has not only allowed manufacturers to track availability of drums, but also enhanced their servicing efficiency by controlling accurate supply capabilities.

Manufacturers and suppliers of plastic and steel drums continuously face challenges that arise with delay in supply of drums. RFID allows validation of number of shipments to take stock inventories as per invoices. Validating the availability of drums with the help of RFID enables manufacturers to avoid unnecessary costs related to delays and loss.

For instance, Crown Holdings, Inc., one of the leading beverage can manufacturers, has designed cans with AR code situated beneath the tab of a beverage can. The AR code technology offers both companies and consumers a unique experience in terms of purchasing, scanning, interacting, and communicating. Furthermore, this AR code technology also helps manufacturers to reduce the incident of anti-counterfeiting.

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Rigid Packaging Containers Market by Category

By Material:

Plastic
Metal
Glass
Paper & Paperboard

By Product Type:

Bottles & Jars
Cans
Jerry Cans
Drums
Boxes & Cartons
IBCs
Others (Clamshells, Kegs, etc.)

By End Use:

Food & Beverage
Pharmaceutical
Cosmetics & Personal Care
Homecare
Automotive
Chemicals
Other Consumer Durables

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.