The Global Rigid Packaging Market is projected to reach USD 918.37 billion by 2028, growing at a CAGR of 5.9% during the forecast period.
Rigid Packaging Market
Packaging is the process by which finished goods or products are enclosed or protected for production, storage, sale, and end-use. Rigid packaging is perfect for long-distance transport as it helps to maintain finished products more secure for longer. It is used for packaging products in various forms such as bottles, cans, ampules, containers of aerosols, bottles of aluminum and jars. Rigid plastic packaging has high stiffness, high impact strength, and high barrier characteristics. Rigid packaging includes usage of materials such as rigid plastics, metal, glass, and other for packaging applications. A wide variety of rigid packaging materials has been developed over a period of time. Growth in the global rigid packaging market is largely driven by higher demand for consumer goods, higher recycling rates for packaging, and low rigid plastic packaging costs. However, the development of the rigid packaging industry is curbed by variables such as increased acceptance of flexible packaging products, financial uncertainty in the Eurozone, fluctuating prices of raw materials and stringent regulations.
By material, the rigid packaging market is segmented into metal, plastics, glass, paperboard, and others. The rigid plastics segment was the most dominant material type and is expected to maintain its dominance over the forecast period. High adoption of rigid plastics for packaging is due to their low weight, maintaining the freshness of the product, reduced breakage, and low cost. The rigid packaging market is largely driven by increasing demand from fresh food & beverages, home & personal care goods, and pharmaceutical industries and growth of the retail industry. The fastest growing material type in the global rigid packaging market is the others segment which comprises of bio-plastics and wood. Bio-plastics are made from the biodegradable feedstock, which enables them to degrade into the soil similar to other organic matter. The elevated development in packaging for bio-plastics is due to their increasing awareness among the worldwide population and their replacement with standard plastics, resulting in both customers and regulators opting for bio-plastics instead.
Based on product, the bottle & jars segment is expected to grow at the highest rate. This is due to the increasing consumption of alcohol China, India, and ASEAN countries is one of the major factors fueling the growth of this segment, which in turn is fuelling the growth for rigid packaging. Also in Europe, consumption of alcoholic beverages is increasing at a huge pace, especially in countries such as France, Italy and Germany. Further, rising demand for various shapes of bottles used for alcoholic beverages is also augmenting the growth of this segment.
Rigid Packaging Market
The global rigid packaging market based on applications has been classified into food & beverages, healthcare, personal care, consumer goods, and others. The food & beverage segment is expected to dominate the rigid packaging market during the forecast period. Rigid packaging plays a central role in the food and beverage sector as these packaging materials provide the food products with longer shelf-life. Rigid packaging products include, but are not limited to, bottles, cans, ampules, aerosols, aluminum bottles, and jars. In comparison to other packaging types, rigid packaging containers provide unique benefits such as high impact strength, high stiffness, and high barrier properties. The rigid packaging market in the food & beverage segment is largely driven by the emerging economies of Asia such as China and India. The demand for rigid packaging in the food & beverage segment is being augmented by the increasing demand for convenience foods. The fastest growing application for rigid packaging market is the pharmaceutical industry segment. The growth in the pharmaceutical sector is driven by the advancement in the research and due to increased spending on medicines and technological innovations.
By geography, Asia-Pacific is expected to be the most dominant region for rigid packaging market. The dominance of the Asia-Pacific region is due to the presence of large number of food & beverage and personal care product manufacturers in the region. High economic growth rate and huge population in emerging markets of China and India are the major drivers for the rigid packaging market in Asia Pacific. North America and Europe are among the more mature rigid packaging markets. Major end user industries such as food & beverage and personal care have reached their peak levels which restrains the market growth in these regions. The Asia-Pacific rigid packaging market is largely driven by the emerging economies of China, India, Bangladesh and others. The growing middle class population in the region and growing single household with preference for small packaging units is driving the demand. Increasing urbanization and booming online sales are also some of the key drivers for the Asia-Pacific rigid packaging market. Europe is also expected to have a significant share in the rigid packaging market. The food and beverages and other personal care product industries in the region have attained a saturation point and many of the countries in the region have attained a high per capita consumption of packaged goods. The key driver for growth in the European rigid packaging market is the changing consumer lifestyle in developed countries and increasing disposable income in the emerging regions.
Key Factors Impacting the Growth of Rigid Packaging Market:
• High demand for consumer goods and high recycling rates.
• Low rigid plastic packaging costs.
• Increasing acceptance of flexible packaging products.
• Increasing consumption of alcohol in several regions.
• Increasing urbanization and booming online sales in Asia Pacific.
Key Developments in the Rigid Packaging Market:
- In April 2016, Winpak’s (Canada) rigid packaging and flexible lidding materials division Winpak Portion Packaging started the construction of a 348,000 ft² expansion of its existing facility in LogistiCenter at Sauk Village in Illinois.
- In September 2017, DS Smith Plastics, part of DS Smith Plc. (UK), has opened a new manufacturing facility in Romeoville, Illinois. The new facility is DS Smith Plastics’ first rigid packaging manufacturing operation in North America where the company has six other flexible packaging manufacturing sites.
- In August 2018, Amcor Ltd. (Australia) acquired Bemis Company Inc., a US based manufacturer of flexible and rigid plastic packaging. The acquisition will assist Amcor to grow its portfolio of products and boost its presence on the rigid packaging market in the United States.
What Does This Report Provide?
This report provides a detailed understanding of the global rigid packaging market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the rigid packaging market.
Years Considered In The Study
Market Segmentation:
By Material:
• Metals
• Plastics
• Glass
• Paperboard
• Others
By Product:
• Bottle & Jars
• Trays
• Boxes
• Containers
• Cans
• Others
By Application:
• Food & Beverages
• Healthcare
• Personal Care
• Consumer Goods
• Others
By Region:
• North America
◦ By Country (US, Canada, Mexico)
◦ By Material
◦ By Product
◦ By Application
• Western Europe:
◦ By Country (Germany, UK, France, Spain, Rest of Western Europe)
◦ By Material
◦ By Product
◦ By Application
• Eastern Europe:
◦ By Country (Russia, Turkey, Rest of Eastern Europe)
◦ By Material
◦ By Product
◦ By Application
• Asia Pacific
◦ By Country (China, Japan, India, Rest of Asia Pacific)
◦ By Material
◦ By Product
◦ By Application
• Middle East:
◦ By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
◦ By Material
◦ By Product
◦ By Application
• Rest of the World
◦ By Region (South America, Africa)
◦ By Material
◦ By Product
◦ By Application
Companies Covered: Major Companies profiled in the report which are key players 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, Ball Corporation, Bemis Company Inc., Reynold Group Holdings Limited, Sealed Air Corporation, and RESILUX NV.
Reasons to Buy This Report:
• Market size estimation of the global rigid packaging market on a regional and global basis.
• Unique research design for market size estimation and forecast.
• Profiling of major companies operating in the rigid packaging market with key developments.
• Broad scope to cover all the possible segments helping every stakeholder in the rigid packaging market.
Customization:
We provide customization of the study to meet specific requirements:
• By Segment
• By Sub-segment
• By Region/Country
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