Rigid Plastic Packaging Market Expected to Reach $278.4 billion by 2030| Business Intelligence Insights (BII)

Publisher Name : Business Intelligence Insights (BII) Publish Date : 2022-06-24  

     

As per Business Intelligence Insights (BII) study, the global  Rigid Plastic Packaging Market attained revenue growth of USD 195.8 billion in 2021 and it is projected to reach around USD 278.4 billion by 2030, growing at a 4.5% CAGR.

The fast expansion of the food and beverage industry is driving the growth of the rigid plastic packaging market, which in turn stimulates demand for bottles, jars, fruit juice containers, food package containers, and gourmet bags. Plastic materials such as polypropylene (PP), high-density polyethylene (HDPE), and polyethylene (PET) are used in rigid plastic packaging for the packing of new bottles and containers. These materials are both strong and light. Polyethylene and polypropylene packaging solutions are used in a variety of industries, including food and beverage, agriculture, aerospace, automotive, and medical.

Demand for bicycle wheels, containers, and electrical switches is driving the worldwide rigid plastic packaging industry forward. Furthermore, the expansion of the automotive industry is expected to boost the market growth. Furthermore, due to the increased need for plastic packaging systems, rigid plastic packaging solutions are employed in a variety of industry verticals such as agriculture, medical, personal care, and pharmaceuticals. The healthcare industry is expanding rapidly in countries such as the United Kingdom, the United States, and India, mainly to increased government investment in this area. Furthermore, an increase in government spending on construction activities is expected to fuel the expansion of the rigid plastic packaging market. People prefer products that are packaged with recyclable raw materials over those that are packaged with non-recyclable raw materials. This opens up new options for rigid plastic packaging makers. Consumption of ready-to-eat and frozen foods is increasing over the world, offering lucrative prospects for manufacturers. The desire for rigid plastic packaging solutions is being driven by increased spending power, changing lifestyles, and an increase in the demand for convenience foods.

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 Rigid Plastic Packaging Market : Companies Mentioned

•  Amcor (Switzerland)
•  Berry Global Group Inc. (US)
•  Pactiv LLC (US)
•  Silgan Holdings (US)
•  Sonoco Products Company (US)
•  ALPLA-Werke (Austria)
•  SABIC (Saudi Arabia)
•  Plastipak Holdings (US)

Key Highlights of the Report

•  In terms of value, the bottles & jars category held the greatest share of the rigid plastic packaging market in the forecast period and is expected to increase at the fastest CAGR during the forecast period. Water, juices, carbonated soft drinks, cosmetics, culinary goods, personal care products, and pharmaceutical products are all packaged in rigid plastic bottles. The majority of these bottles and jars are manufactured of PET, PE, PP, HDPE, PS, or PVC. The thriving retail business, paired with rising consumer disposable money. The growing population, urbanization, and increased demand for beverages and home care goods are driving market expansion.

 During the forecast period, the extrusion segment is expected to lead the rigid plastic packaging market. The procedure allows producers to create parts and products with a wide range of die profiles, allowing them to create parts and products with simple to extremely complicated continuous cross-sections. The extruded roll stock is ready for thermoforming and requires no curing time. Because the extrusion process frequently employs thermoplastics, which may be repeatedly melted, molded, and hardened, the overall material and disposal costs for an extrusion operation are cheaper than those of conventional molding techniques.

 The Asia Pacific region held the greatest share in 2020 and is expected to increase at the fastest rate throughout the forecast period. Due to increased development activities and quick economic expansion, countries such as India and China are likely to experience substantial growth in the rigid plastic packaging market. Furthermore, the expanding population in these nations provides a large client base for FMCG products and consumer durables, which is likely to drive expansion in the rigid plastic packaging market. Key factors such as industrialization, the expanding convenience food industry, rising manufacturing activities, rising disposable income, rising consumption levels, and rising e-commerce sales have all contributed to the growth of the rigid plastic packaging market over the projection period.

•  The report contains qualitative and quantitative research on the global Rigid Plastic Packaging Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

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Revenue-generating Segment Highlights

By Type
•  Bottles & Jars
•  Rigid Bulk Products
•  Trays
•  Tubs, Cups, & Pots
•  Others

By Raw Material
•  Polyethylene (PE)
•  Polyethylene Terephthalate (PET)
•  Polystyrene (PS)
•  Polypropylene (PP)
•  Polyvinyl Chloride (PVC)
•  Expanded Polystyrene (EPS)
•  Bioplastics
•  Others (PC, Polyamide)

By Production Process
•  Extrusion
•  Injection Molding
•  Blow Molding
•  Thermoforming
•  Others

By Application
•  Food
•  Beverages
•  Healthcare
•  Cosmetics & Toiletries
•  Industrial
•  Others

By Region
•  North America
o  U.S.
o  Canada
•  Europe 
o  Germany
o  U.K.
o  France
o  Italy
o  Spain
o  Rest of Europe
•  Asia Pacific 
o  China
o  India
o  Japan
o  Rest of Asia Pacific
•  Latin America 
o  Brazil
o  Mexico
o  Rest of Latin America
•  Middle East and Africa 
o  UAE
o  South Africa
o  Rest of Middle East and Africa (MEA)

Ready to generate outstanding revenue opportunities with Business Intelligence Insights (BII)’exclusive Rigid Plastic Packaging Market study. Highlights of the overall market will be included in the research, as well as frequently asked questions such as – 

•  What are the historical and projected revenue figures, as well as the CAGR, for the forecast period?
•  What is the current trend taking place in the market space?
•  What are the business techniques that will influence competitive scenarios as well as the market's growth potential?
•  What market drivers, restraints, and challenges are influencing market demand and growth?
•  In the approaching years, which regions and segments will generate significant revenue and emerge as industry leaders?

The Rigid Plastic Packaging Market report's competitive scenario examines, assesses, and positions firms based on a variety of performance characteristics. The financial performance of organizations over the last few years, growth plans, product innovations, new product launches, investments, market share growth, and so on are some of the elements analysed in this research. Don't wait any longer; take a comprehensive approach and achieve your business objectives with our Rigid Plastic Packaging Market Forecast Report 2022- 2030 - Order Now!

About Us

Business Intelligence Insights is the global provider of market intelligence, consultancy services, and syndicated & customized reports. We are focused on assisting business leaders and suppliers in making decisions by providing timely and insightful market research and consulting services. We offer global, and regional expertise in technology, industry, opportunities, trends, industry analysis, market data, and strategic guidance. Our analysis and insight help business professionals, executives, and investors make fact-based technology decisions and achieve their key business objectives. Our reports are featured distinct research approaches, rigorous methodologies, and comprehensive sector coverage.

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