Rigid packaging is simply lightweight pouches or bags sealed with pressure or heat seal. The most obvious advantage of rigid packaging is that it is very lightweight and very durable, offering high protection against damage. The thickness of a rigid package is an important factor to consider when considering the advantages and disadvantages of both types of packaging.
High growth in the logistics and transportation sector is expected to drive growth of the global rigid packaging market during the forecast period. The logistics and transportation sectors have witnessed massive growth in both developed and emerging economies. According to the India Brand Equity Foundation (IBEF), the Indian logistics market is expected to reach US$ 215 billion by 2020, registering a CAGR of 10.5%. Rigid packaging is a critical element in the transportation and logistics application. It offers adequate protection & durability during transportation along with a variety of substrates, shapes, and enhanced recycling capabilities. Thus, these factors are expected to drive growth of the global rigid packaging market during the forecast period. Furthermore, rapid growth of the e-commerce industry is expected to propel the global rigid packaging market growth over the forecast period. According to the U.S. Department of Commerce, e-commerce sales in the U.S. in the third quarter of 2020 reached US$ 199.4 billion. Moreover, rising consumer goods demand and improving package recycling rates are expected to boost the market growth over the forecast period.
However, rising adoption of flexible packaging materials combined with fluctuating raw material prices is expected to hinder the global rigid packaging market growth over the forecast period. Among regions, Asia Pacific is expected to witness significant growth in the global rigid packaging market during the forecast period. This is owing to a rapid expansion of the food & beverage and pharmaceutical sectors in the region. Emerging economies such as India and China are expected to leaders in goods export in the region, thereby driving the regional market growth. Furthermore, North America is expected to register a robust growth rate over the forecast period, owing to increasing use of bioplastic as a raw material in rigid packaging, owing to stringent guidelines on carbon emission.
Key companies involved in the global rigid packaging market are Amcor Limited, Mondi Group, Bemis Company, RESILUX NV, Georgia-Pacific LLC, DS Smith plc, Sealed Air Corporation, Holmen AB, Reynolds Group Holdings Limited, and Berry Plastics Corporation.
For instance, in September 2020, Alpla Group, a provider of plastic packaging solutions, acquired Amcor Limited’s plastic plant of PET bottles in India.
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