The market is expected to generate an incremental $ opportunity of US$ 77,906.82 Mn between 2022 and 2032
Category: Packaging Published Date : October 2022 ID: CVC-00317 Format: PDF Pages: 320
Rigid Plastic Packaging Market Size Analysis
According to a recent survey conducted by ChemView Consulting, Global Rigid Plastic Packaging grew at a CAGR of 4.3% between 2017-2021 and is estimated to be US$ 1,72,351.4 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 3.8% and is expected to reach a valuation of US$ 2,50,258.2 Mn by 2032 end.
Rigid plastic packaging has become a popular alternative to conventional packaging materials, such as glass jars, boxes, and metal cans. Major retailers and manufacturers of consumer goods and packaging components are increasingly turning to rigid plastic packaging solutions because they are lightweight, cost-effective, and sustainable.
INCREASING DEMAND FROM THE COSMETICS & PERSONAL CARE INDUSTRY WILL DRIVE THE MARKET
The cosmetics and personal care industry is expanding rapidly in emerging economies, due to which the necessity for rigid plastic packaging is also rising. Rigid plastic packaging can provide safe storage of multiple medicines during their storage. It comprises the properties of durability, cleanliness, transparency, and lightweight, making this packaging suitable for storing medical products such as syringes, tablets, syrups, and surgical items.
In the cosmetics and personal care industry, rigid plastic packaging is used in products such as sun care, oral care, skin care, perfume, decorative cosmetics, body care, and hair care. The cosmetics and personal care industry is escalating rapidly in emerging economies, due to which the demand for rigid plastic packaging is also rising.
ENVIRONMENTAL IMPACT RESTRAINS THE MARKET GROWTH
Rigid plastic packaging is one of the most widely used plastics in the packaging sector. It is utilized in various sectors to provide protection and sustainability to packed items like items of industrial purpose, food, and medical products.
The main challenge associated with rigid plastic packaging is the segregation, reuse, and recycling of plastic waste. Plastic materials used for packaging take up to 1,000 years to degrade in landfills, creating land and water pollution and decreased mechanical strength due to sunlight. The environmental effects of rigid plastic packaging will hamper market growth.
THE RISE IN THE FOOD INDUSTRY WILL CREATE MORE OPPORTUNITIES FOR THE MARKET
Rigid plastic packaging addresses many challenges in the food and beverage industries. Rigid plastics offer a greener alternative to Rigid Plastic Packaging because they are recyclable, cost-effective, and do not need special treatment before reuse. Additionally, rigid plastics provide tough protection for perishables such as fruits and vegetables; this allows products to be delivered at peak freshness from farm to store shelf.
Market Segments Covered in Report
By Production Process :
By End Use Industry:
By Region and Country:
Why are the bottles & jars segment projected to ensure the most revenue during the forecast period?
The bottles & jars segment held the largest revenue share by 40.0% in the rigid plastic packaging market. Rigid plastic bottles & jars are employed for packaging purposes of different products such as carbonated soft drinks, water, juices, cosmetics, personal care products, pharmaceutical products, and food products. Due to their durability and lightweight, the demand for bottles & jars is growing with the growth of various end-use industries such as healthcare.
Additionally, the rising demand for packaging applications in the end-use sectors to keep the products safe and uncontaminated is driving the need for bottle & jars packaging.
Why is the food and beverage segment expected to expand the fastest during the forecast period?
The food and beverage industry held the largest share of the rigid plastic packaging market in 2021. The rigid plastic packaging extends properties such as absorption of flavors, durability, longevity, and lightweight to the containers. Rigid plastic packaging products provide a clean environment and protect food items from further contamination. The tough plastic packaging allows you to stack them easily, which is another great property of this product.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
The rigid plastic packaging market is a high-growth, highly fragmented industry. Companies are focused on providing lightweight and high-performance corrugated grades to reduce costs, improve packaging performance, and meet stringent environmental requirements. Due to the presence of several players, the market has strong competition.
These actions have enabled market participants to increase their clientele and revenue. With the increasing demand for rigid plastic packaging worldwide, market players in the Rigid Plastic Packaging market can anticipate attractive growth prospects in the future.
Some of the key developments that have taken place in the Rigid Plastic Packaging Market include:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Material, Production Process, Application, End Use Industry, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|