Rigid Plastic Packaging Market to See Steady Growth by 2031 with Increasing Use of Bioplastics and Sustainable Production Methods in the Food and Healthcare Sectors

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 341.62 billion by the year 2031, exhibiting a CAGR of 5.39% during the forecast period.

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Rigid plastic packaging is recognized for its durability, lightweight nature, and versatility. It is produced using a variety of manufacturing processes, including extrusion, injection molding, blow molding, and thermoforming, among others. These packaging components are typically made from materials such as polyethylene and expanded polystyrene, which help ensure the security and longevity of the products they contain.

A significant driver of the rigid plastic packaging market's growth is the increasing demand for packaged goods, driven by changing consumer lifestyles. Additionally, the healthcare sector's growing need for rigid plastic packaging has been a crucial factor in the market's expansion. Rigid plastics are particularly beneficial in the healthcare industry due to their ability to protect pharmaceuticals from contamination. Given the stringent safety regulations governing medical product packaging, rigid plastic is an ideal material, offering essential qualities such as strength, lightness, cleanliness, and transparency.

Despite these advantages, the market faces challenges from intense competition to develop innovative rigid plastic packaging solutions. Furthermore, the widespread use of Bisphenol A (BPA) in the production of certain plastic products has raised concerns, presenting additional obstacles to market growth.

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:
A significant factor contributing to the growth of the rigid plastic packaging market in recent years is the increased demand within the healthcare sector. Rigid plastic is widely used in this industry due to its ability to safeguard medications from contamination. Given the stringent international safety standards for medical product packaging, rigid plastic is considered an ideal material, offering critical attributes such as durability, lightweight construction, cleanliness, and clarity. Furthermore, the demand for polypropylene-based products, such as medicine bottles, caps, closures, and packaging for condiments like ketchup and syrups, is expanding. An example of this trend is Unilever's use of recycled polypropylene plastic packaging for its Magnum brand ice cream tubs, which has contributed to growth within the ice cream market.

Challenges:
One of the primary challenges facing the rigid plastic packaging market is the growing environmental concerns, particularly in developing countries. As governments in these regions take steps to promote sustainable packaging practices, the demand for environmentally compliant materials increases. These regulatory measures can limit the availability of raw materials that do not meet environmental standards, subsequently driving up raw material costs and increasing operational expenses. As a result, declining revenues may impact the overall production of rigid plastic packaging.

Regional Trends:
The Asia-Pacific region represents a substantial share of the global rigid plastic packaging market. This region is expected to maintain its dominance throughout the forecast period, driven by increasing demand from developing countries such as China, Japan, India, and South Korea. China, in particular, is projected to continue leading the market due to its rapidly expanding industries, including food and beverage, personal care, cosmetics, and pharmaceuticals. Additionally, the rigid plastic packaging markets in India and Indonesia are expected to experience significant growth over the forecast period.

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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.