Rigid Packaging Market Set to Exceed $305.39 Billion by 2031 Driven by Innovations

The Rigid Packaging Market, valued at USD 214.74 billion in 2023, is projected to reach USD 305.39 billion by 2031, registering a CAGR of 4.5% from 2024 to 2031.

Market Analysis & Report Scope
The Rigid Packaging Market is witnessing significant growth attributed to the rising demand for safer driving systems, fostering the development and adoption of semi-autonomous vehicles. Technological advancements such as 5G delivery models, IoT, and Machine Learning algorithms are revolutionizing the driving experience, enhancing fuel efficiency, and enabling compliance with environmental sustainability goals and government regulations. Moreover, semi-autonomous vehicles offer better driving control and safety, further promoting market growth.
The dominance of plastic as the largest segment in the rigid packaging market, constituting over 42% in 2023, is due to its versatility, durability, and cost-effectiveness. Bottles & jars emerge as the leading product type, driven by their widespread use in the food & beverage and personal care sectors. Among applications, the food & beverage segment dominates, fueled by increasing consumption and demand for packaged food products.

Major Key Players Included are:
- DS Smith
- Vetropack Holding
- Myers Industries
- Brambles
- Schoeller Allibert
- Schutz GmBH and Co, IPL Plastics
- Menasha Corporation
- Aramco
- Berry Global

Impact of Russia-Ukraine War
The Russia-Ukraine conflict has disrupted global supply chains, leading to raw material shortages and price hikes in the rigid packaging market. Uncertainties in trade relations and geopolitical tensions have further exacerbated market volatility, impacting production and distribution channels.
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Market Segment Analysis:
Material Type:
Plastic emerges as the largest segment in the rigid packaging market, capturing over 42% share in 2023. Its dominance is attributed to its versatility, durability, and cost-effectiveness. Plastic packaging offers a wide range of benefits, including lightweight properties, resistance to corrosion, and suitability for various applications across industries. Additionally, advancements in plastic manufacturing technologies have led to the development of eco-friendly and recyclable options, addressing growing environmental concerns and regulatory requirements.
- Plastic
- Metal
- Glass
- Paperboard
- Others

Product Type:
Bottles & jars dominate the product type segment of the rigid packaging market. This segment's prominence is driven by the widespread use of bottles and jars in the food & beverage and personal care industries. Bottles and jars offer convenience, portability, and preservation properties, making them ideal for packaging liquids, creams, and powders. Moreover, innovations in design and materials have led to the development of sustainable packaging solutions, catering to eco-conscious consumers and industry regulations.
- Bottles & Jars
- Trays
- Containers
- Tubs
- Cans

Application:
The food & beverage sector emerges as the leading application segment in the rigid packaging market. The increasing consumption of packaged food products, changing consumer lifestyles, and growing demand for convenience drive the dominance of this segment. Rigid packaging solutions such as bottles, containers, and trays play a crucial role in preserving food quality, extending shelf life, and ensuring product safety. Furthermore, stringent regulations regarding food packaging standards and hygiene contribute to the adoption of rigid packaging solutions across the food & beverage industry.
- Food & Beverage
- Personal Care
- Consumer Goods
- Healthcare

Impact of Economic Slowdown:
The economic slowdown has dampened consumer spending and industrial activities, affecting demand for rigid packaging products. Uncertainties in financial markets and reduced purchasing power have led to cautious investment strategies among businesses, slowing down market growth.

Key Regional Developments:
North America led the global market in 2023, driven by the penetration of advanced technologies such as IoT and ML. Stringent government regulations and demand for fuel-efficient vehicles promote the integration of these technologies. Europe is poised for substantial growth, supported by its robust automotive industry and favorable regulatory mandates regarding technology deployment.

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Key Takeaways:
- Technological advancements and regulatory support drive market growth.
- Plastic remains the dominant material, with food & beverage as the key application segment.
- North America and Europe lead market expansion, fueled by advanced technologies and regulatory initiatives.

Recent Developments:
In 2023, Denso Corporation and Qualcomm Technologies, Inc. collaborated to enhance next-generation cockpit systems, aiming to revolutionize automotive technology and driving experiences.
Table of Contents - Major Key Points
1 Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2 Research Methodology
3 Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4 Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
4.3 Supply Demand Gap Analysis
5 Value Chain Analysis
6 Porter's 5 forces model
7 PEST Analysis
8 Rigid Packaging Market Segmentation, By Material
8.1 Plastic
8.2 Metal
8.3 Glass
8.4 Paperboard
8.5 Others
9 Rigid Packaging Market Segmentation, By Product Type
9.1 Bottles & Jars
9.2 Trays
9.3 Containers
9.4 Tubs
9.5 Cans
10 Rigid Packaging Market Segmentation, By Application
10.1 Food & Beverage
10.2 Personal Care
10.3 Consumer Goods
10.4 Healthcare
11.Regional Analysis
12 Company profile
13 Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14 Use Case and Best Practices
15 Conclusion
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Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
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