Rigid packaging market worth USD 800 billion by 2027 at
New York, U.S., June 09, 2022 (GLOBE NEWSWIRE) — Overview of the rigid packaging market
According to a comprehensive research report by Market Research Future (MRFR), “Rigid packaging market Information by Materials, Products, Applications and Regions – Forecast to 2027“, the market is expected to grow at a CAGR of 7.5% to reach $800 billion by 2027.
Rigid packaging has become one of the most essential components of the packaging market. It provides excellent protection to products, protecting them from physical shock and various other types of damage. The demand for the rigid packaging market has increased as the product is widely used to package reactive and volatile products as well as highly durable products.
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|Market size 2027||2027: $800 billion|
|Forecast units||Value (USD billion)|
|Report cover||Revenue forecasts, competitive landscape, growth factors and trends|
|Segments Covered||By materials, product, application and region|
|Geographical areas covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Market Drivers||Increasing disposable income facilities among users|
|Adoption of different lifestyles enhances market size and growth|
Market Competitive Landscape:
Important companies in the rigid packaging market are
- Nefab Group from Sweden
- Schoeller Allibert from the Netherlands
- Australian brambles
- Menasha Corporation of the United States
- Vetropack Holding of Switzerland
- DS Smith from UK
- IPL Plastics from Ireland
- Schutz GmbH and Co from Germany
- Rehrig Pacific Company of the United States
- Myers Industries of the United States
Covered USP market:
Rigid packaging has significant applications in many industries including food and beverage, pharmaceutical, personal care, electronics and many more. The food and beverage industry is a critical end user of rigid packaging products. Increased consumption of ready-to-eat food items and convenience foods will help the market to gain remarkable traction in the coming years.
The packaged food industry grew from 580 million tons in 2014 to 700 million tons in 2016. This rapid expansion can be attributed to changing consumer lifestyles and increasing consumption of a variety of snack foods. such as bread, chips and sausages in India, China and the Middle East. The reduction in the number of food retail outlets as well as the emergence of new products on the market will also be favorable.
Sustainable packaging, or green packaging, has become a major trend in the global market. Strict regulations on recycling packaging materials would increase the demand for eco-friendly and renewable materials. The demand for bioplastics for rigid packaging has seen significant growth over the past few years, and this trend will continue to increase in the years to come. Moreover, with the extensive use of the internet all over the world, the e-commerce industry has seen robust growth over the years.
Growing focus on the development of flexible packaging solutions and uncertainty regarding economic conditions and soaring prices of major raw materials will restrain the market growth.
In addition, the strict rules introduced by the government will prove difficult for market participants. Another factor limiting growth may be rising input costs and rising environmental concerns.
Browse the In-Depth (132 Pages) Rigid Packaging Market Research Report https://www.marketresearchfuture.com/reports/rigid-packaging-market-1772
COVID 19 analysis
The rigid packaging market has been significantly affected by the COVID-19 outbreak. Considering the pandemic scenario, many countries had to quarantine themselves to control the increase in cases. As a result, the demand and the supply chain have been disrupted, which has affected the global market. Infrastructure projects, manufacturing units, industries and various operations had to be put on hold due to the pandemic situation.
The volatility of raw material costs used for the development of rigid packaging as well as the COVID-19 pandemic have limited the growth rate of the market. On the bright side, the situation is returning to normal, which means that the market in the future will see better growth.
The rigid packaging market, with respect to materials, can be categorized into plastics, metals, cardboard types, and glass. Plastics occupy the highest share of the market and will also witness the fastest growth rate between 2020 and 2027. A few types of plastics such as polyethylene, polypropylene and polyethylene terephthalate are among the most commonly used plastics for the manufacture of rigid packaging products.
As for the products, the industry has been considered for cans, jars, bottles, trays, boxes and many more. The bottle and jar segment is leading in the rigid packaging industry. Bottles help in packaging various products like juices, water, soft drinks, etc. Rapidly expanding population and growing demand for a variety of beverages as well as household products will increase the demand for rigid packaging. Containers and boxes also make up a significant portion of the global industry, given the booming e-commerce sector in emerging economies.
The rigid packaging industry, in terms of application, can be divided into medical units, food and beverages, consumer goods, personal care products, and many others. The food and beverage segment appears to dominate the market and will continue to dominate throughout the assessment period.
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Asia-Pacific is at the forefront of the global market, even as the number of health-conscious consumers in the region continues to soar. Beverage and packaged food segments are growing rapidly in the region owing to the trend towards healthy lifestyle, with products like yogurt, curd products and bottled water being sold in rigid plastic packaging. India has witnessed a major boom in the rigid packaging market, mainly due to heavy usage in beverages and food. Rigid beverage packaging in India has been pushed by the increasing use of bottled water, which is replacing water purifiers as better hygienic alternatives. In food packaging, the consumption of curd and yogurt products has increased significantly due to growing consumer health awareness.
In North America, market demand is driven by increasing manufacturing output, increasing consumer spending on packaged goods, and demographic trends, including expanding urban populations. Urban consumers generally opt for packaged foods more than their rural counterparts. This would be a particularly favorable factor for the regional market in the long term.
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