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Rigid Plastic Packaging Market: Strive for Growth with Burgeoning Demand, Innovative Trends and Key Players
Rigid Plastic Packaging Market Size
What Is The Projected Market Size Of The Global Rigid Plastic Packaging Market And Its Growth Rate?
The rigid plastic packaging market is slated for absolute growth, triggered by attributes such as cost efficiency, durability and versatility.
• The market value will increase from $228.97 billion in 2024 to $238.46 billion in 2025, escalating at a CAGR of 4.1%.
• Further growth is anticipated, reaching $283.34 billion in 2029 at a CAGR of 4.4%. Sustainability initiatives, e-commerce growth, and changing consumer preferences among others contribute to this projected growth.
What Is Driving The Growth In The Rigid Plastic Packaging Market?
The rigid plastic packaging market sees a spiked demand from end users, notably the food and beverage industry. The industry's need for uncooked food processing, packaging, and distribution generates the need for rigid plastic packaging that is cost-efficient, durable and versatile. Rising exports of processed food and beverage products serve as a testimonial for the surging demand in the market. For instance, in 2022, exports of such products reached a historic high of $54.3 billion with a 14.1% rise from the previous year.
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Who Are the Key Players Driving Rigid Plastic Packaging Market Growth?
Notable companies in the rigid plastic packaging market include:
- Berry Global Inc.
- Amcor Plc
- Silgan Holdings Inc.
- Pactiv Evergreen Inc.
- Al Jabriplastic Group
- Sealed Air Corporation
- Takween Advanced Industries Company
- Plastipak Holdings Inc.
- Anchor Packaging LLC
- ALPLA Group GmbH & Co. KG
- Sonoco Products Company
- Klöckner Pentaplast Group GmbH
- Gerresheimer AG
- Consolidated Container Co. LLC.
What Are The Key Trends In The Rigid Plastic Packaging Market?
Noteworthy trends in the rigid plastic packaging market include:
- Sustainable packaging solutions
- Innovative packaging designs
- Circular economy initiatives
- Regulatory compliance and standards
- Advancements in material technology
- Digitalization in packaging industry
What Are The Segments Of The Global Rigid Plastic Packaging Market?
The rigid plastic packaging market includes the following segments:
1) By Product Type: Boxes, Bottle And Jars, Cans, Blister Packs, Clamshells, Trays, Intermediate Bulk Container( IBCs), Other Product Types
2) By Material: Polyethylene, Polypropylene, High Density Polypropylene, Other Materials
3) By Manufacturing Process: Extrusion, Injection Molding, Other Manufacturing Process
4) By End-User: Food And Beverages, Personal Care, Household, Healthcare, Other End-Users
Which Region Leads The Rigid Plastic Packaging Market?
Asia-Pacific is the largest contributor to the rigid plastic packaging market as of 2024. The growth in this region surpasses other regions such as Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Rigid Plastic Packaging Market Global Market Report?
- Market Size Analysis: Analyze the Rigid Plastic Packaging Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Rigid Plastic Packaging Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Rigid Plastic Packaging Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Rigid Plastic Packaging Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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