Rigid Plastic Packaging Market
The global rigid plastic packaging market size reached US$ 216.55 Billion in 2021. By 2027, it will reach US$ 296.05 Billion, growing CAGR of 5.10% (2022-2027).
SHERIDAN, WYOMING, USA, November 14, 2022 /
EINPresswire.com/ -- The latest research study “Rigid Plastic Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global
rigid plastic packaging market size reached US$ 216.55 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 296.05 Billion by 2027, exhibiting a growth rate (CAGR) of 5.10% during 2022-2027.
What is Rigid Plastic Packaging?
Rigid plastic packaging represents the utilization of plastic materials, including polypropylene (PP), highly-density polyethylene (HDPE), polyethylene (PET), etc., for packaging new bottles and containers. It is sturdier, heavier, and stronger than flexible packaging. Consequently, rigid plastic packaging is extensively used for wrapping fragile food items that need enhanced protection. These products have recyclable plastic containers with open tops and separate closures, lids, or covers that are usually viewed as nestable food containers. In line with this, rigid plastic packaging offers various benefits, including low cost and longevity. Consequently, it finds wide-ranging applications in several industries, such as food and beverage (F&B), healthcare, agriculture, automotive, personal care, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Rigid Plastic Packaging Market Trends and Drivers:
The increasing utilization of packaged goods and the expanding e-commerce industry are primarily driving the rigid plastic packaging market. Furthermore, the widespread adoption of plastic packaging for the protection of medicines from contamination is also positively influencing the global market.
Apart from this, the growing consumer awareness towards biodegradable plastic packaging is acting as another significant growth-inducing factor. Moreover, the implementation of stringent regulations by government bodies across countries regarding product safety standards, the rising number of construction activities, and the inflating disposable income levels of individuals, are further catalyzing the market growth.
Besides this, the escalating demand for flexible packaging in the nutraceutical sector and extensive investments in R&D activities by leading manufacturers are augmenting the global market. Additionally, continuous technological advancements in the automotive industry are anticipated to fuel the rigid plastic packaging market over the forecasted period.
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Global Rigid Plastic Packaging Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
ALPLA
Altium Packaging LLC
Amcor plc
Berry Global Inc.
DS Smith plc
Graham Packaging Company
Pactiv Evergreen Inc.
Plastipak Holdings Inc.
Saudi Basic Industries Corporation (Saudi Arabian Oil Company)
Silgan Holdings Inc.
Sonoco Products Company
Winpak Ltd.
The report has segmented the market on the basis of product, material, production process and end use industry.
Breakup by Product:
• Bottles and Jars
• Trays and Containers
• Caps and Closures
• Others
Breakup by Material:
• Polyethylene (PET)
• Polypropylene (PP)
• High Density Polypropylene (HDPE)
• Others
Breakup by Production Process:
• Extrusion
• Injection Molding
• Blow Molding
• Thermoforming
• Others
Breakup by End Use Industry:
• Food and Beverages
• Personal Care and Cosmetics
• Household
• Healthcare
• Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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