Rigid Packaging Market is projected to be worth USD 800 Billion by 2027, registering a CAGR of 7.5% during the forecast period (2020 - 2027). Rigid packaging has been marked to be the main part of the packaging market. It gives good protection to the products. It protects the products from physical shocks and from other such damage. The rigid packaging market is in high demand as it is used for packing volatile and excessive reactive products along with highly durable products. The demand of the rigid packaging industry is growing at a high rate and is expected to project at the same speed during the market forecast period.
Plastics have played a vital role during COVID. Rigid packaging is very much helpful to keep our food safe, keep ourselves healthy and our food fresh and protect it from getting contaminated. It was found that the spread of packaging food decreased to 20%-30% due to the impact of COVID. Depletion of suppliers and the distributors was found. Moreover, disruption in the supply chain was found to deteriorate. With 4the improvement of lockdown and shutdown scenarios, it was found that the packaging of pharmaceuticals bottles, pumps, and HDPE containers was declining gradually. Catering up of food was hindered thus reducing the demand for the packaging solutions.
Some of the market players operating here are namely
The rise in the growth of population along with the increase in disposable income facilities among the users acts as a driving factor for the market growth. Adopting different lifestyles bolsters the market size and market growth.
Arise in a number of working females and the presence of highly salaried people present in the family raises up the growth opportunity of the market. The change in lifestyle so adopted by the people of the emerging countries increases the growth factor of the market. Urbanization and adoption of busier lifestyles augment up the development of the market. Growth in the on-the-products and the reduction in cooking time contribute to the use of more packaging solutions. Growth in the disposable income facilities and rise in the convenience of the market steers up the rigid packaging market size. The potentiality of the market is high in the Chinese region, Brazilian region, and many more.
moisture, light barrier, and the transportation facility are the important challenging factors in the market. The use of biodegradable products as the raw material, put forward by the regulatory bodies became the most challenging factor. Moreover, it was found that the costs of biodegradable products were of high costs which became the most challenging factor of the market. The rise in production costs along with the increase in adding up of the costs pressures plays a major hindrance to the market growth. Moreover, rigid packaging products harm the environment as it takes time to disintegrate.
The increase in rigid packaging market value with a high CAGR growth rate steers up the market growth. The base period was marked to be the high potential year where maximum growth took place.
Growth in the shift towards the manufacturing of flexible packaging solutions along with the uncertainty in eurozone economic conditions along with an increase in the price of certain sustainable raw materials are the restraining factor for the market growth. Moreover, the strict rules imposed by the government restraints the market size. The increase in input costs and the rise in recycling and environmental concerns acts as a major restraining factor for rigid packaging market size.
Globally, the rigid packaging market has been classified into material, product, application type, and segment. Based on the material, the rigid packaging industry has been classified into metals, plastics, glass, and paperboard types. Plastic covers s huge market share and are said to be the fastest-growing segment during the market forecast period of 2020-2027. Some of the plastics like polyethylene terephthalate, polyethylene, and polypropylene are majorly used for the production of hard packaging products. Based on product, the industry is being divided into bottles, jars, boxes, trays, cans, and many more. Bottle and jar division occupy a large segment of the rigid packaging market. Bottles are used for packaging some of the products like soft drinks, some kinds of juice, water, and others. Some of the factors like the expansion in the population along with the rise in demand for beverages and some of the home used products upsurges the rigid packaging market growth. Boxes and containers to occupy the large segment for expansion of market size. The rise in e-commerce movement among the emerging countries augments the rigid packaging market size and its demand. Besides it, based on application, the rigid packaging industry is divided into food and beverages, medical units, personal care products, consumer goods, and many more. The food and beverages segment occupies a large segment and projects at a large rigid packaging market value.
Rigid packaging products are in huge demand as these products are lightweight, help in maintaining the product structure, maintain its strength and shape, retain its toughness, breaking up the product inside it is minimized and is of fewer costs.
Globally, the rigid packaging market is being classified into the region of North America, some regions of Europe, the Asia Pacific region, and the rest of the world. It has been noted that the Asia Pacific market covers a large area and is the fastest-growing region followed by the North American and European region. It consists of some of the countries like China, Japan, and India where trade movements were carried out across several regions. Industrialization and urbanization in some of the developing countries like China and India steer up the rigid packaging market growth. Moreover, the rise in the sustainability of raw materials and reduction in labor costs brings a positive driving factor to the market. Among all the market shares in the Asia Pacific region, China covers the dominant share.
Globally, the packaging solutions consist of maximum research work which includes both primary and secondary research. Along with research, the report does extensive analysis about both qualitative and quantitative aspects. It does detailed analysis about and gains deeper insights about the industry performance. It gives a vivid picture of the market scenario which consists of historical and changes in market size. It signifies the rigid packaging market value and also about technological advancement. It gives details about the macro and micro economical and the growth driving factors that enhance the size of the packaging industry. It gives details about the key players playing in the market. It makes a broad study about the market segmentation so done and also signifies about the recent developments taking place in the market. The report ensures huge growth of this market in the future.
|Market Size||2027: USD 800 Billion|
|CAGR||7.5% CAGR (2020-2027)|
|Forecast Period||2020 to 2027|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Materials , Product and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Amcor Limited (Australia), Bemis Company, Inc. (U.S.), RPC Group Plc (U.K.), DS Smith Plc., (U.K), Sealed Air Corporation (U.S.), Berry Plastics Corporation (U.S.), Coveris Holdings S.A. (Luxembourg), Reynolds Group Holdings (New Zealand), Plastipak Holdings, Inc. (U.S.), Tetra Pak International (Switzerland), Ball Corporation (U.S.), Holmen AB (Sweden), Silgan Holdings, Inc. (U.S.), Linpac Packaging Limited (U.K.), and Consolidated Container Company (U.S.).|
|Key Market Opportunities||Increasing demand from the consumer goods sector|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Major materials used in the rigid packaging market include plastics, metal, glass, and paperboard.
Global rigid packaging market is expected to exhibit a strong 7.5% CAGR over the forecast period from 2020 to 2027.
The growing logistics sector is the major driver for the rigid packaging market.
Asia Pacific dominates the global rigid packaging market.
Leading players in the rigid packaging market include Amcor, Berry Plastics Corporation, and Bemis Company, among others.
The North American region is marked to be the second most dominant region in the whole of the world. More of the use of bioplastic where it has been used as a raw material for rigid packaging as per the guidelines so imposed for the reduction in the use of carbon footprints. Globally, the United States region contributes to the major region upsurging the rigid packaging market size. Some regions of Latin America, African, and the Middle East bolster the rigid packaging market growth during the market forecast period. Manufacturing and trade movements took place largely in this region.