ID: MRFR/PNT/3538-HCR | February 2021 | Region: Global | 100 pages
Rigid-plastic packaging market Size will grow by 5.6% in the forecast period.
The rigid plastic packaging market is diversified into four crucial regions. All these regions are the key players in the global rigid plastic market. The Asia Pacific dominates other regional players in the forecast period. The demand and profitability rates are higher in this market. The rising industrialization and packaged goods propel the demand for rigid plastics. Further, North America is another largest player with plenty of market players.
The global market is boosting in North America. Consumer durables are higher in this region. Also, it is ultimately sparking the overall demand rate in this area. Europe is known as the mass Bioplastics producer. Biodegradable plastic packaging is popular in Europe. The market growth rate is massive in this region. During the forecast period, Europe will market the highest production rate in the rigid plastic market. Also, the Middle East and South Africa are emerging markets with plenty of growth opportunities.
More than millions of workers in the plastic industry are working to offer materials for the package in the frontline sector. Plastic packaging is highly essential for medicines and food to prevent the spread of the virus. During the covid 19, several markets are facing plenty of difficulties. However, this situation is offering plenty of market growth opportunities for the rigid plastic packaging market.
The use of Bioplastics is high during this period. To protect and keep food and vegetables people prefer Bioplastics. From catering to the healthcare sector, the demand for rigid plastic packaging is massive. During this period, the demand of the market grows by 20%. The essential services have the highest requirements for plastic. Rigid plastic packaging is beneficial in PPE, Pumps and oxygen containers. Rigid plastic packaging is a priority for plenty of industries in recent years.
Growth in the packaging industry will ultimately raise the demand in the rigid plastic packaging industry. Especially the growth in the Asia pacific packaging industry will be the crucial demand driver for the global market. The demand from the market has risen by 20% this year. The consumer goods sector is the crucial reason for massive demand in this region. Rigid plastic packaging is essential in the pharmaceuticals, food processing and other industries in Asia pacific. The covid analysis changes the Rigid Plastic Packaging market Outlook.
Also, the rise of eCommerce sectors is further driving more demand for the global market. The eCommerce sector marks more than billions of goods ordered from customers. All these goods require exceptional packaging that will not damage the product. The rigid plastic packaging is suitable for these operations. Also, they are affordable and easy to access by the eCommerce sector. Due to these reasons, the market demand is constantly growing during the forecast period. Furthermore, the demand from the food and beverage market is another crucial driver. The requirement for packages in food and beverages is immense. It is a sector that provides stable growth and profitability for the rigid plastic packaging global market.
The innovation in the rigid plastic packaging market offers plenty of growth opportunities. The market with innovation creates development opportunities and fresh demand from the end-users. Rigid plastic packaging is an innovative market. The launch of environmental friendly rigid plastics for packaging is a crucial growth factor. The launch of a variety of plastic-packaged will offer growth prospects for the market.
Furthermore, the number of women working in urban areas is growing higher than ever. Also, the amount of women staff in packaging companies is massive. The employment of more staff in the packaging company creates market growth opportunities. The increasing consumption of packaged goods is another crucial growth factor in the market. The consumption of packaged food results in more use of rigid plastic packages. The market growth opportunities of the market offer expansion possibilities for the market.
The stringent government rules regarding the use of rigid plastic for packaging is a crucial restraint in the market. Even the smallest of damage in the plastic packaging can contaminate the product. Therefore, there is plenty of governmental safety regulation to use rigid plastic packaging.
Also, these factors can affect the profitability of the market. Further, plastic waste is harmful to the environment. The use of rigid plastic that is non-degradable can pollute the environment. Therefore, the government restricts the use of rigid plastic that is non-degradable. However, the government allows use of Bioplastics that is less harmful to the environment.
The cost of raw materials to manufacture rigid plastic packaging according to the governmental regulation is expensive. The need to comply with governmental standards and using biomaterials make the overall price of the packaging materials costly. The price is a serious challenge in the market. Packaging is an additional cost to any industry. If the packaging material price is high, then plenty of end-users will become hesitant to purchase the product. Also, the price of the product can diminish the demand in the long run. The cost issue of the market can slow down the expansion rate in the forecast period.
The overall growth analysis of the rigid plastic market seems to be positive. The market has plenty of drivers that effectively provide more demand in the forecast period. Also, the use of rigid plastic packaging is rising at an exponential pace in several regions. The need for plastic packaging is essential in food, beverage, healthcare and other industries. The market growth opportunities are vast for the market. However, there are few serious challenges in the market. The stringent government rules regarding the use of plastic can affect market growth. Further, the need to comply with governmental standards to manufacture biodegradable plastic is another challenge. The polyethene plastic packaging segment of the market is receiving more demand. It is a market segments that is affected by these restraints. However, the overall growth trend of the market remains positive for the forecast period.
The Asia Pacific holds the largest Rigid Plastic Packaging Market Share. It is a region with the highest rigid plastic market growth rate in recent years. The growth rate is expected to increase further in the forecast period. The countries India and China are the largest manufactures of rigid plastic packaging in Asia pacific. These countries will further enhance the product in the forecast period.
The growing development activities and industrial growth will fuel the overall demand for the market. The Asia Pacific region has a massive consumer base for durables and consumer goods. Most consumer goods require rigid plastic packaging. The rising disposable income, industrial development and demand from food industry are the crucial driver for Asia pacific. Also, Asia Pacific is a region that will market the highest market Revenue rate in the forecast period.
The global packaging sector is highly dependent on plastic materials. Plastic is an affordable, effective and most suitable material for rigid packaging. There are plenty of plastics available for packaging. The wide range of plastic available in this market is Polyethylene, Polyvinyl Chloride and Bioplastics. Polyethene is the most popular material in the packaging industry. The rigid plastic packing comes with easy processing, strength, flexibility and resistance against moisture.
These qualities of plastic boost the demand of the rigid plastic packaging market. From food beverage, healthcare, industrial packaging and personal packaging require plastic. The fast-growing applications of plastic are ultimately favoring the rigid plastic market growth. Also, the manufacturing process includes extrusion, modelling and injection. The result of this process is a rigid plastic that is highly suitable for packaging applications. The rigid-plastic packaging market trends look impressive in the forecast period. The global Size will grow by 5.6%. Also, the Market Value will be tremendous.
|Market Size||2030: Significant Value|
|CAGR||CAGR of 5.6% (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Product, Manufacturing Process, 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.), Sealed Air Corporation (U.S.), ALPLA Werke Alwin Lehner GmbH & Co KG (Austria), Berry Plastics Corporation (U.S.), Coveris Holdings S.A. (Luxembourg), Reynolds Group Holdings (New Zealand), Plastipak Holdings, Inc. (U.S.), Silgan Holdings, Inc. (U.S.), Linpac Packaging Limited (U.K.), and Consolidated Container Company (U.S.)|
|Key Market Opportunities||Rising demand from the manufacturing and e-commerce sector|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Increasing industrialization, increasing consumption of processed food and beverages, rapid urbanization is expected to drive the growth of the market.
the fluctuations in raw material prices, and impact on the environment is likely to hamper the growth of the rigid plastic packaging market over the review period.
The Polyethylene (PE) segment is slated to expand as the fastest-growing segment.
The food and beverage segment are slated to expand as the fastest-growing segment.
A few major market players operating in the Rigid plastic packaging market are Bemis Company, Inc. (U.S.), Amcor Limited (Australia), Sealed Air Corporation (U.S.), RPC Group Plc (U.K.), among others.