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Rigid Plastic Packaging Market Gaining Rapidly Traction in Key Business Segments with $342.8 bn by 2032
Rigid Plastic Packaging Market
The rigid plastic packaging market size was valued at $218.6 billion in 2022, and is estimated to reach $342.8 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.
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The increasing emphasis on environmental sustainability serves as a key driver for the rigid plastic packaging market. Manufacturers are innovating with recyclable and biodegradable plastics, reducing carbon footprint, and adopting eco-friendly practices.
Consumer demand for eco-conscious packaging and government regulations promoting recyclability contribute to the growth of sustainable rigid plastic solutions.
Key players are taking initiatives for integrating sustainable practices. For instance, In June 2023, Berry Global, a manufacturer specializing in plastic packaging, has introduced a novel spray-through overcap composed of 50% recycled material.
In July 2023, Amcor Rigid Packaging introduces 100% recycled PET (rPET) bottles for Ron Rubin Winery's BLUE BIN wine series in 750ml sizes. This eco-friendly packaging minimizes greenhouse gas emissions, offering a shatterproof, lightweight option for consumers on-the-go. The initiative follows a two-year assessment by Ron Rubin to deliver premium, sustainable wines for environmentally conscious customers.
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The unparalleled durability and protective capabilities of rigid plastic also drives rigid plastic packaging market growth. The innate strength and resilience of rigid plastics ensure the safe transportation, handling, and storage of goods, mitigating the risks of damage, breakage, or contamination during the supply chain.
Furthermore, the lightweight properties of these materials contribute to cost-efficient shipping and logistics, enabling manufacturers to optimize transportation expenses while ensuring the integrity of their products.
Another significant driver is the need for enhanced product protection and convenience. Rigid plastic packaging offers superior protection against external elements, preserving the quality and freshness of goods. Its versatility enables manufacturers to design packaging with features like tamper-evident seals and resealable closures, catering to consumer preferences for convenience and safety.
Manufacturers can mold and shape plastics into diverse forms, sizes, and designs, facilitating tailored packaging solutions that enhance product visibility, branding, and shelf appeal. With advancements in printing technologies and label design, companies can create visually appealing packaging that captures consumer attention, bolstering sales and brand recognition in competitive markets. Such trends are expected to drive the growth of rigid plastic packaging market.
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Top Players:
Sealed Air Corporation., Amcor PLC, Silgan Holdings Inc., ALPLA Werke Alwin Lehner GmbH & Co KG, Sonoco Products Company, PLASTIPAK HOLDINGS, INC., Berry Global Inc., Klockner Pentaplast Group GmbH & Co. KG, Pactiv Evergreen Inc., DS Smith Plc
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