Rigid Plastic Packaging Market 2032 | Growth, Analysis, Business Trends to Reach $342,772.5 Mn

The rigid plastic packaging industry has transformed consumer sectors by introducing cost-effective innovations and design improvements, which enhance brand distinctiveness and sales. Widely utilized in the production of various goods like jars, bottles, cosmetics, and pharmaceuticals, materials such as HDPE, PP, PET, and PVC provide durability, cost efficiency, and easy accessibility.

Moreover, the surge in online retail has escalated the necessity for sturdy packaging to safeguard products during transit. Trends such as smaller household sizes are escalating the demand for smaller packaging, consequently increasing packaging per consumed product unit. Overall, the rigid plastic packaging market flourishes on innovation, adapting to evolving consumer lifestyles and preferences, while regional variations significantly impact market expansion.

According to the report, the global rigid plastic packaging market was valued at $218,621.3 million in 2022, and is projected to reach $342,772.5 million by 2032, registering a CAGR of 4.6% from 2023 to 2032.

Request PDF Sample Copy @ https://www.alliedmarketresearch.com/request-sample/6224

Driving Factors:
The polyethylene terephthalate (PET) segment is expected to maintain its dominance throughout the projected period. In terms of material, PET held the largest market share in 2022, constituting over two-thirds of the rigid plastic packaging market revenue and is forecasted to sustain its leadership.

However, the polypropylene (PP) segment is anticipated to achieve the highest Compound Annual Growth Rate (CAGR) of 5.5% from 2023 to 2032, driven by the substantial demand for polypropylene plastic packaging and its associated benefits like extended durability, robustness, cost-effectiveness, and widespread availability.

The injection molding segment is projected to retain its leadership position throughout the forecast period. Based on production process, injection molding held the majority market share in 2022, comprising nearly half of the rigid plastic packaging market and is expected to uphold its dominance. This is attributed to the advantages of the injection molding process, including cost efficiency, high production efficiency, and the ability to craft intricate and customizable packaging designs. Nevertheless, the thermoforming segment is predicted to register the highest CAGR of 5.6% from 2022 to 2032 due to its versatility, low tooling costs, and suitability for manufacturing lightweight, durable, and customizable packaging solutions.

Inquire Before Buying @ https://www.alliedmarketresearch.com/purchase-enquiry/6224

Impacting Factors:
The food & beverage segment is poised to maintain its leading position during the forecast period. Among end-user industries, the food & beverage segment represented the largest share in 2022, contributing to almost two-thirds of the rigid plastic packaging market revenue. This is attributed to the rapid expansion of the food & beverage industry and the capability of rigid plastic packaging to preserve freshness, ensure product safety, and provide convenient, lightweight solutions. Furthermore, the availability of recyclable options for various food and beverage products is bolstering segment growth. However, the healthcare sector is anticipated to achieve the highest CAGR of 5.7% from 2023 to 2032.

Asia-Pacific is expected to retain its leadership throughout the forecast period. In terms of regions, Asia-Pacific dominated the market in 2022, constituting nearly two-fifths of the rigid plastic packaging market revenue and is projected to witness the highest CAGR of 5.1% from 2023 to 2032. This can be attributed to increased investments by key market players, initiatives such as "Make in India," and the region's dense population. Additionally, the rising demand for rigid plastic packaging from the packaging industry is anticipated to propel market growth.

Request for Customization:
https://www.alliedmarketresearch.com/request-for-customization/6224

Leading Market Players: -

ALPLA-Werke Alwin Lehner GmbH & Co KG
Amcor Limited
DS Smith Plc
Berry Plastics Corporation
Klöckner Pentaplast
Plastipak Holdings, Inc.
Pactiv Evergreen Inc
Sealed Air Corporation
Silgan Holdings, Inc.
Sonoco Products Company

Contact Us:

United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, DE. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.