Rigid Plastic Packaging : Market Size, Segmentations, Trends Analysis Report, Key Players, Market dynamics, Challenges & Developments, by Forecast to 2031

The Global Rigid Plastic Packaging Market is estimated to be worth USD 226.75 billion in 2023 and is expected to surpass USD 341.62 billion by 2031, with a compound annual growth rate (CAGR) of 5.39% during the forecast period of 2024-2031.

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Rigid plastic packaging is characterized by its flexibility, lightweight, and durability. Numerous techniques are employed to manufacture these packaging components, such as extrusion, injection moulding, blow moulding, thermoforming, etc. Stiff plastic packaging is manufactured from materials such as polyethene and expanded polystyrene to ensure the products remain secure for an extended period.

Furthermore, the rigid plastic packaging market is driven by the rise in packaged product sales, which is a direct consequence of evolving lifestyles. The healthcare sector's increasing demand for rigid plastic packaging has been another significant factor in the market's expansion in recent years. Rigid plastic's capacity to protect medications from infection benefits healthcare organizations. International safety regulations must be adhered to when packaging medical products. Consequently, rigid plastic is the optimal material for storing medical supplies because of its strength, weight, clarity, and sanitation.

Nevertheless, the market's expansion may be impeded by the intense competition for inventive rigid plastic packaging. Furthermore, the market for rigid plastic packaging is confronted with significant obstacles as a result of the increasing prevalence of Bisphenol A (BPA) in the production of plastic products.

List of Prominent Players in the Rigid plastic packaging market:

• Pactiv LLC (US)
• Holdings Inc. (US)
• Alpla (Austria)
• Sabic (Saudi Arabia)
• Products Company (US)
• DS Smith Plc (UK)
• Amcor Ltd. (Switzerland)
• Berry Global Group Inc. (US)
• AI Jabri Plastic Factory (UAE)
• Takeween Advanced Industries (Saudi Arabia) and others

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Market Dynamics:
Drivers-

The healthcare sector's elevated demand for rigid plastic packaging has significantly influenced the market's expansion in recent years. Healthcare organizations employ rigid plastic to safeguard pharmaceuticals from infection. The packaging of medical products must comply with all relevant international safety standards. Consequently, rigid plastic is the optimal choice for the storage of medical supplies due to its durability, low weight, sanitation, and clarity. The applications of polypropylene are expanding, and some examples include prescription bottles, bottle caps, bottle closures, and bottles for ketchup and syrups. For example, Unilever contributed to the development of the ice cream market by manufacturing ice cream in tubs with recycled PP plastic packaging under the Magnum trademark.

Challenges:

The rigid plastic packaging market is expected to experience a decline in growth due to the increasing concern for environmental preservation in developing countries, which is the primary challenge. Governments in developing countries are implementing measures to encourage sustainable packaging in response to their increasing concern for environmental preservation. The price of raw materials would increase, thereby increasing operational costs, as a result of these restrictions prohibiting enterprises from acquiring raw materials that do not comply with environmental regulations. A decrease influences the aggregate quantity of rigid plastic packaging produced in revenues.

Regional Trends:

The rigid plastic packaging market is significantly dominated by the Asia-Pacific region. It is expected that the Asia Pacific region will maintain its market dominance during the forecast period, as a result of the increasing demand for rigid plastic packaging in developing nations such as China, Japan, India, and South Korea. It is anticipated that China will continue to dominate the rigid plastic packaging market during the forecast period. This is a consequence of the country's expanding pharmaceutical, cosmetics, personal care, and food and beverage industries. It is also anticipated that the markets for rigid plastic packaging in India and Indonesia will expand during the projection period.

Recent Developments:

• In July 2022, Alpla acquired the Polish company Apon, which specializes in the production of plastic containers for the pharmaceutical industry. Apon's product line includes bottles, containers with screw caps or snap lids, dosage aids for medical equipment, supplement for the diet packaging, and e-liquid packaging.

• In July 2022, Alpla acquired the Polish company Apon, which specializes in the production of plastic containers for the pharmaceutical industry. Apon's product line includes bottles, containers with screw caps or snap lids, dosage aids for medical equipment, supplement for the diet packaging, and e-liquid packaging.

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Segmentation of Rigid Plastic Packaging market-

By Type-
• Rigid Bulk Products
• Trays
• Bottles & Jars
• Turbs, Cups, and Pots

By End use industry-
• Healthcare
• Cosmetics & Toiletries
• Food
• Beverages
• Industrial

By Raw material-
• Polystyrene (PS)
• Polypropylene (PP)
• Expanded Polystyrene (EPs)
• Bioplastics
• Polyethylene (PE)
• Polyethylene Terephthalate (PET)
• Polyvinyl Chloride (PVC)
• Others (PC, Polyamide)

By Production process-
• Blow Molding
• Thermoforming
• Extrusion
• Injection Molding

By Region-

North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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