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Rigid Packaging Market Evaluation of Recent Industry Developments For 2015 to 2021
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Rigid packaging materials available in the market include cups, cans, bottles, corrugated cases, and boxes. On the basis of raw material, the global rigid packaging market can be segmented into metal, plastic, paper, and glass. Plastic packaging dominates the global rigid packaging market. This is because it doesn’t degrade and helps to better preserve the packaged materials. This, in turn, helps improve the shelf life of products. However, in terms of value, rigid paper packaging material is expected to witness highest CAGR in the forecast period. The food and beverage industry, the largest consumer of rigid packaging, is expected to dominate the market during the forecast period. Other major end-user industries for rigid packaging industry include pharmaceutical and personal care industries.
Asia Pacific has the largest market share for rigid packaging, followed by North America and Europe. Asia Pacific is expected to witness highest growth in the rigid packaging market during the forecast period. Emerging markets such as India and China are expected to boost the market in this region. Other markets for the rigid packaging industry include Brazil and the Middle East.
Increasing popularity of reusable products for packaging is driving the global rigid packaging market. Moreover, increasing number of nuclear families and increasing demand for convenience food and other products is expected to provide ample growth opportunities to rigid packaging in the global market. Also, new packaging material development coupled with availability of smaller pack sizes is further providing growth opportunity for the global rigid packaging market to some extent.
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Increasing demand from end-user industry along with rising urban population especially in the Asia Pacific region is propelling the rigid packaging market. Some of the major companies operating in this market are DS Smith Plc, Holmen AB, Georgia-Pacific LLC, MeadWestvaco Corporation, BASF SE, Amcor Limited, Berry Plastics Corporation, The Dow Chemical Company, Reynold Group Holdings Limited, Sealed Air Corporation, and RESILUX NV.
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