Rigid Plastic Packaging Market Size By Material (Polyethylene (PET), Polypropylene (PP), High-Density Polyethylene (HDPE), and Others), By Production Process (Extrusion, Injection Molding, Blow Molding, Thermoforming, and Others), By End user (Food and Beverage, Personal Care, Household, Healthcare, and Others), and Regions, Segmentation, and forecast till 2030.
Pune India, Jan. 02, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Rigid Plastic Packaging market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Rigid Plastic Packaging market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the Material, Production Process, End user and Regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Rigid Plastic Packaging market are ALPLA-Werke Alwin Lehner GmbH & Co KG, Amcor Limited, DS Smith Plc, Berry Plastics Corporation, Klockner Pentaplast, Plastipak Holdings, Inc, Pactiv Evergreen Inc, Sealed Air Corporation, Silgan Holdings, Inc, Sonoco Products Company among others. To achieve a substantial market, share in the worldwide Rigid Plastic Packaging market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The consumer goods industry is also quite fragmented, with packaging and product differentiation playing a key role. Thus, it is anticipated that as the market for consumer goods grows, rigid packaging will as well. The consumer goods sector includes a wide range of products that consumers buy both retail and wholesale, such as luxury items, high-end clothing, fences, and deck railings. Because of their hectic lifestyles and busy schedules, consumers choose simple packaging that is simple to use and transfer. Particularly in the personal care business, where consumers are more focused on convenience and sustainability, traditional packaging forms are being replaced with creative, customizable options designed to meet customer demands. Packaging businesses must create robust packages to resist the frequently intricate manual and automated supply networks needed to deliver goods to customers' doorsteps. As a result, it is anticipated that the e-commerce industry's expansion would offer attractive opportunities for the market for rigid plastic packaging to develop during the course of the forecast year. Key material suppliers are frequently huge corporations with the financial clout to pass on their increased commodity costs, which raises the cost of materials and, in turn, input prices. The cost of materials and, consequently, input prices rise as a result of key material suppliers being typically enormous organisations with the financial muscle to pass on their increasing commodity costs.
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Scope of Rigid Plastic Packaging Market Report
Base Year
Material, Production Process, End user and Regions.
North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
ALPLA-Werke Alwin Lehner GmbH & Co KG, Amcor Limited, DS Smith Plc, Berry Plastics Corporation, Klockner Pentaplast, Plastipak Holdings, Inc, Pactiv Evergreen Inc, Sealed Air Corporation, Silgan Holdings, Inc, Sonoco Products Company among others
The Polyethylene segment is expected to be the fastest-growing segment in 2022.
The Material segment includes Polyethylene (PET), Polypropylene (PP), High-Density Polyethylene (HDPE), and Others. The demand for PET-rigid plastic packaging has expanded as a result of rapid urbanisation and the desire to maintain a healthy lifestyle in developing countries. Additionally, a big factor in the growth of the industry is consumer desire for packaged and processed items.
Injection Molding is expected to be the fastest-growing segment in 2022.
The Production Process segment includes Extrusion, Injection Molding, Blow Molding, Thermoforming, and Others. One of the major factors driving the market's growth is the expanding demand for injection moulding machines in the food and beverage industry to produce a variety of packaging and processing components, such as food and beverage containers, processing equipment components, conveyor system components, and others. Furthermore, it is anticipated that the growth of the automotive industry would drive market expansion.
Food and Beverage is expected to be the fastest-growing segment in 2022.
The End user segment includes Food and Beverage, Personal Care, Household, Healthcare, and Others. For food and beverage packaging, rigid materials are used. Aerosol cans, ampules, cans, bottles, and jars are a few examples. Rigid plastic packing containers provide specific advantages over conventional packaging materials, including strong barrier properties, rigidity, and impact resistance. The demand for rigid plastic packaging has therefore lately grown.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for Rigid Plastic Packaging include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia pacific region witnessed a major share. Major participants in the rigid packaging industry include China, India, Vietnam, Australia, and Indonesia, all of which are developing nations in the Asia-Pacific region. In numerous Asia-Pacific countries, rigid plastic packaging consumption has remained positive and continuously robust due to increased consumer disposable income, accelerating urbanisation, and rising consumption of cosmetics, food, drinks, and dry goods.
Germany’s Rigid Plastic Packaging market size was valued at USD 14.12 billion in 2022 and is expected to reach USD 43.19 billion by 2030, at a CAGR of 5.5% from 2023 to 2030. Recycled plastic is increasingly being used for packaging purposes by packaging companies, which is one of the key factors driving the industry. High-density polyethylene is one lightweight material that packaging companies are focusing on employing since it may help reduce transportation and material handling costs.
China’s Rigid Plastic Packaging market size was valued at USD 16 billion in 2022 and is expected to reach USD 56.18 billion by 2030, at a CAGR of 4.7% from 2023 to 2030. Since the rise of the market for hard plastic packaging would be significantly impacted, China barred the import of plastic for recycling. The region's booming e-commerce business is one of the primary forces behind growth in the Asia-Pacific region. The market may also profit from the food and beverage industry's growing use of rigid plastic packaging throughout the forecasted period.
India's Rigid Plastic Packaging market size was valued at USD 17.88 billion in 2022 and is expected to reach USD 71.90 billion by 2030, at a CAGR of 4.9% from 2023 to 2030. India is expanding as a centre for manufacturing, and its exports are rising as well. To meet the demands of the global market, packaging standards must rise, which calls for the use of better packaging techniques like blow moulding, injection moulding, rotomolding, and others (thermoforming, extrusion, etc.).
Covid-19 Impact Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, The growth of this market is mainly driven by increased due to its multiple applications in end-use industries such as beverages, food, and healthcare.
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