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Rigid Plastic Packaging Market Size, Share, Trend Analysis, Segmentation And Forecast To 2033
Rigid Plastic Packaging Market Analysis
The Business Research Company offers in-depth market insights through Rigid Plastic Packaging Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The rigid plastic packaging market size has grown strongly in recent years. It will grow from $232.45 billion in 2023 to $247.12 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to cost efficiency, durability and protection, versatility, lightweight properties, barrier properties, consumer convenience.
The rigid plastic packaging market size is expected to see strong growth in the next few years. It will grow to $313.92 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to sustainability initiatives, e-commerce growth, customization and branding, regulatory compliance, increased focus on circular economy, changing consumer preferences. Major trends in the forecast period include sustainable packaging solutions, innovative packaging designs, circular economy initiatives, regulatory compliance and standards, advancements in material technology, digitalization in packaging industry.
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Market Segmentation:
The rigid plastic packaging market covered in this report is segmented -
1) By Product Type: Boxes, Bottle And Jars, Cans, Blister Packs, Clamshells, Trays, Intermediate Bulk Container( IBCs), Other Product Types
2) By Material: Polyethylene, Polypropylene, High Density Polypropylene, Other Materials
3) By Manufacturing Process: Extrusion, Injection Molding, Other Manufacturing Process
4) By End-User: Food And Beverages, Personal Care, Household, Healthcare, Other End-Users
Major Driver - Increasing Demand From End Users Such As The Food And Beverage Industry Drives The Market
The increasing demand from end users such as the food and beverage industry is expected to boost the growth of the rigid plastic packaging market going forward. The food and beverage industry refers to all businesses that handle the processing, packaging, and distribution of uncooked food. Rigid plastic packaging enables product durability promoting food safety and shelf life, as a result, increasing demand from end users such as the food and beverage industry is expected to boost the rigid plastic packaging market. For instance, in 2021, according to the Food and Drink Federation, a UK-based organization that represents and advises UK food and drink manufacturers, Scotland registered 1,185 companies that manufacture food and beverages. Further, exports of food and beverages rose by 12% in 2021 to $7.9 billion (£5.9 billion). Additionally, in the same year, food and beverages turnover accounts for $12.5 billion (£10.4 billion), which is 30% of total Scottish manufacturing. Therefore, the increasing demand from end users such as the food and beverage industry is driving the growth of the rigid plastic packaging market.
Competitive Landscape:
Major companies operating in the rigid plastic packaging market report are Berry Global Inc., Amcor Plc, Silgan Holdings Inc., Pactiv Evergreen Inc., DS Smith Plc, Al Jabriplastic Group, Sealed Air Corporation, Takween Advanced Industries Company, Plastipak Holdings Inc., Anchor Packaging LLC, Bemis Manufacturing Company, ALPLA Group GmbH & Co. KG, Sonoco Products Company, Klöckner Pentaplast Group GmbH, Gerresheimer AG, Consolidated Container Co. LLC, Winpak Ltd., Graham Packaging Company Inc., IPL Plastics Inc., Linpac Packaging Limited, M&H Plastics Limited, Placon Corporation, Printpack Incorporated, Rexam PLC, Ring Container Technologies LLC, RPC Group Plc, Solo Cup Company, Tekni-Plex Inc., Polypack Inc., Hedwin Corporation .
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Top Trend - Technological Advancement To Develop Advanced Products
Technological advancement is the key trend gaining popularity in the rigid plastic packaging market. Major companies operating in the rigid plastic packaging market are focusing on developing new technologies. For instance, in September 2022, Amcor Plc., an Australia-based global packaging company, launched the DairySeal™ line of packaging that features ClearCor, an advanced polyethylene terephthalate (PET) barrier. The unique feature of clearcor PET barrier technology is that it has a concentrated capsulation in the preform's center, enabling greater flexibility and resin possibilities. This method preserves recyclability while improving the overall performance of the barrier in the package.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Rigid Plastic Packaging Market Characteristics
3. Rigid Plastic Packaging Market Trends And Strategies
4. Rigid Plastic Packaging Market - Macro Economic Scenario
5. Rigid Plastic Packaging Market Size And Growth
…..
27. Rigid Plastic Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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