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Food Beverages Rigid Packaging Market to Incur Rapid Extension by 2021
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On the basis of shape, rigid packaging for the food and beverage industry is segmented into foldable boxes, rigid boxes, food trays, machine-made paper bags, pet packaging, hot food packaging and flat bags/sandwich bags, and others. On the basis of raw material, the industry can categorized as plastic, metal, paperboard, and glass. Rigid plastic packaging dominates the global rigid packaging for the food and beverage industry. However, rigid paper packaging material is expected to witness the highest CAGR during the forecast period. Rigid packaging is majorly used to store carbonated beverages, water, juices, teas, sports drinks, nutritional drinks, baby food, and frozen food for the beverage industry.
Asia Pacific has the largest market share for rigid packaging for food and beverages, followed by North America and Europe. The food and beverage industries in North America and Europe have reached saturation levels. Therefore, these regions are expected to witness average growth in the near future. Asia Pacific is expected to witness the fastest growth and remain the largest market due to its growing food and beverage industries. Emerging markets such as India and China are expected to boost the rigid packaging market for food and beverage in the region. Other emerging markets for rigid packaging for food and beverage industry are Brazil and the Middle East.
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Increasing popularity of packaging media that provide long shelf life to finished food products is driving the global rigid packaging in food and beverage industry. Moreover, increasing number of nuclear families and rising demand for convenience food is expected to further boost the rigid packaging market for food and beverages. The Office for National Statistics, the U.K., reported that the number of households with only one member increased from 13.2% in 1961 to 30.6% in 2011.
Moreover, households with five or more members decreased from 17.3% in 1961 to 6.9% in 2011. According to Statistics Canada, Canada’s national statistical agency, the proportion of one-person households in Canada increased from 25.7% in 2001 to 27.6% in 2011. Also, factors such as improved manufacturing output, increasing expenditure on packaged goods worldwide, and changing demographic trends such as increasing urban population, is further expected to increase the demand for better packaging facilities such as rigid packaging in the food and beverage industry.
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Increasing international trade is propelling the food and beverage industry to invest more in quality packaging. This, in turn, provides ample growth opportunities for manufacturing companies in this market. Some of the major companies in the global rigid packaging 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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