Rigid Plastic Packaging Market Poised for 5.05% CAGR Growth Through 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Rigid Plastic Packaging Market Size, Share & Trends Analysis Report By Application (Food, Beverages, Healthcare, Cosmetics, Industrial), Raw Material (Bioplastics, PE, PET, PS, PP, PVC, EPs, PC, Polyamide), Type (Bottles & Jars, Rigid Bulk Products, Trays, Tubs, Cups, And Pots), Production Process (Extrusion, Injection Molding, Blow Molding And Thermoforming)- Market Outlook And Industry Analysis 2031"

The global rigid plastic packaging market is estimated to reach over USD 328.75 billion by 2031, exhibiting a CAGR of 5.05% during the forecast period.

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Rigid plastic packaging delivers qualities including sturdiness, lightweight, and flexible packaging. Numerous methods are used to create these packing components, including extrusion, injection molding, blow molding, thermoforming, and others. To keep the products secure for longer, stiff plastic packaging is produced from materials like polyethylene, expanded polystyrene, and others used.

Additionally, one of the key factors pushing the expansion of the rigid plastic packaging market is the increase in packaged goods sales resulting from changing lifestyles. Another key factor in expanding the market in recent years has been the healthcare sector's rising demand for rigid plastic packaging. Businesses in the healthcare sector benefit from rigid plastic's ability to shield medications from infection. The packaging of medical products must follow international safety regulations. Therefore, rigid plastic is the ideal material for keeping medical supplies due to its features, which also include its strength, lightweight, cleanliness, and clarity.

However, high competition for innovative rigid plastic packaging might impede market expansion. Additionally, the market for rigid plastic packaging faces substantial challenges due to the growing usage of Bisphenol A (BPA) in producing plastic products.

List of Prominent Players in the Rigid plastic packaging market:
• Amcor Ltd. (Switzerland)
• Berry Global Group Inc. (US)
• Pactiv LLC (US)
• Holdings Inc. (US)
• Products Company (US)
• DS Smith Plc (UK)
• Alpla (Austria)
• Sabic (Saudi Arabia)
• AI Jabri Plastic Factory (UAE)
• Takeween Advanced Industries (Saudi Arabia) and others

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Market Dynamics:
Drivers-
One of the major drivers of the market's growth in recent years has been the increased demand for rigid plastic packaging in the healthcare sector. Businesses in the healthcare sector utilize rigid plastic to protect drugs against infection. Medical product packaging must abide by all applicable international safety standards. Therefore, rigid plastic is ideal for keeping medical supplies because of its properties, durability, low weight, cleanliness, and clarity. The applications for polypropylene are expanding, and some examples include medicine bottles, bottle caps, bottle closures, and bottles for ketchup and syrups. For instance, by producing ice cream in tubs with recycled PP plastic packaging under the Magnum brand, Unilever helped to establish the ice cream market.

Challenges:
The prime challenge is the growing concern for environmental preservation in developing countries, which is predicted to reduce the growth of the rigid plastic packaging market. Due to their growing concern for environmental preservation, governments in developing countries are taking steps to promote sustainable packaging. These limitations that prevent enterprises from acquiring raw materials that don't meet environmental regulations would raise the price of raw materials, raising operational costs. When revenues drop, it impacts the overall amount of rigid plastic packaging produced.

Regional Trends:
The Asia-Pacific region holds a significant market share in rigid plastic packaging. Due to the expanding demand for rigid plastic packaging in developing nations like China, Japan, India, and South Korea, the Asia Pacific region is anticipated to maintain its market dominance during the forecast period. Throughout the forecast period, China is anticipated to maintain its lead in the rigid plastic packaging market. This results from the country's expanding food and beverage, personal care, cosmetics, and pharmaceutical industries. During the projection period, the markets for rigid plastic packaging in India and Indonesia are also anticipated to expand.

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Recent Developments:
• In July 2022, Alpla purchased the Polish firm Apon, which manufactures plastic containers for the pharmaceutical industry; bottles, containers with screw caps or snap lids, dosage aids for medical equipment, packaging for food supplements, and packaging for e-liquids are all made by Apon.
• In June 2022, A brand-new breakthrough was announced by Siegwerk, a top supplier of printing inks and coatings for labels and packaging applications, an improved deinking created specifically for rigid plastic packaging that substantially simplifies commercial mechanical recycling.

Segmentation of Rigid Plastic Packaging market-
By Type-
• Bottles & Jars
• Rigid Bulk Products
• Trays
• Turbs, Cups, and Pots
By End use industry-
• Food
• Beverages
• Healthcare
• Cosmetics & Toiletries
• Industrial
By Raw material-
• Bioplastics
• Polyethylene (PE)
• Polyethylene Terephthalate (PET)
• Polystyrene (PS)
• Polypropylene (PP)
• Polyvinyl Chloride (PVC)
• Expanded Polystyrene (EPs)
• Others (PC, Polyamide)
By Production process-
• Extrusion
• Injection Molding
• Blow Molding
• Thermoforming
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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This release was published on openPR.