Rigid Plastic Packaging Market Strategies to Thrive in Post Pandemic World to Reach $342,772.5 Million by 2032

Prime determinants of growth

The rigid plastic packaging market has revolutionized consumer industries by introducing cost-effective innovations and design enhancements, bolstering brand differentiation and sales. Widely used in producing various items such as jars, bottles, cosmetics, and pharmaceuticals, materials such as HDPE, PP, PET, and PVC offer durability, cost-efficiency, and easy availability.

In addition, surge in online retail has heightened the need for robust packaging to protect products during shipping. Trends like smaller households drive the demand for smaller pack sizes, increasing the packaging per consumed product unit. Overall, the rigid plastic packaging market thrives on innovation, adapting to changing consumer lifestyles and preferences, while regional dynamics play a significant role in market growth.

Rigid plastic packaging refers to containers, bottles, and boxes made from sturdy plastic materials, maintaining their shape and structure without distortion. It offers durability, protection, and versatility in packaging applications across various industries like food, beverage, pharmaceuticals, and cosmetics, ensuring product integrity and shelf appeal.

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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.

Driving Demands:

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.

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.

Segmental Overview:

The polyethylene terephthalate (PET) segment to maintain its leadership status throughout the forecast period

Depending on material, the polyethylene terephthalate (PET) segment held the highest market share in 2022, accounting for more than two-thirds of the rigid plastic packaging market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the polypropylene (PP) segment is projected to garner the highest CAGR of 5.5% from 2023 to 2032, owing to high demand for polypropylene plastic packaging and their associated benefits such as prolonged durability, robust & economic nature, and easy availability.

The injection molding segment to maintain its leadership status throughout the forecast period

On the basis of production process, the injection molding segment held the highest market share in 2022, accounting for nearly half of the rigid plastic packaging market and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the benefits associated with the injection molding process such as cost-effectiveness, high production efficiency, and versatility in creating intricate and customizable packaging designs. However, the thermoforming segment is projected to register the highest CAGR of 5.6% from 2022 to 2032. This is attributed to versatility, low tooling costs, and suitability for producing lightweight, durable, and customizable packaging solutions.

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The food & beverage segment to maintain its lead position during the forecast period.

By end-user industry, the food & beverage segment accounted for the largest share in 2022, contributing to nearly two-thirds of the rigid plastic packaging market revenue. This is attributed to rapid expansion of the food & beverage industry and rigid plastic packaging's ability to preserve freshness, ensure product safety, and offer convenient, lightweight. Furthermore, the availability of recyclable solutions for various food and beverage products contributes toward the segment growth. However, the healthcare payload segment is expected to garner the highest CAGR of 5.7% from 2023 to 2032.

Top Players:
Key market players profiled in the report include 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., and Sonoco Products Company.

Key Market Insights:

The report provides an extensive analysis of the current and emerging rigid plastic packaging market trends and dynamics.
In-depth rigid plastic packaging market analysis is conducted by constructing market estimations for key market segments between 2022 and 2032.
By material, polyethylene terephthalate (PET) segment was the highest revenue contributor to the rigid plastic packaging market share and is estimated to reach $ 247811.1 million by 2032, with a CAGR of 4.7%. However, the polypropylene (PP) segment is expected to be the fastest-growing segment with a CAGR of 5.5% during the forecast period.
By production process, the injection molding segment dominated the global rigid plastic packaging market. However, the thermoforming segment is expected to be the fastest-growing segment with a CAGR of 5.6% during the forecast period.
Based on end-user industry, the food and beverage segment was the highest revenue contributor to the market, which is expected to grow at a CAGR of 4.2% during the forecast period. However, the healthcare segment is expected to be the fastest-growing segment with a CAGR of 5.7% during the forecast period.

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