menu
Rigid Plastic Packaging Market Emerging Trends, Growth Insights 2030
Rigid Plastic Packaging Market Emerging Trends, Growth Insights 2030
The global rigid plastic packaging market was valued at USD 192,070.0 million in 2021 and is projected to reach USD 281,619.9 million by 2030, growing at a CAGR of 4.9% from 2022 to 2030

Rigid Plastic Packaging Market Emerging Trends, Growth Insights 2030

Theglobal rigid plastic packaging market was valued at USD 192,070.0 million in 2021 and is projected to reach USD 281,619.9 million by 2030, growing at a CAGR of 4.9from 2022 to 2030Rigid plastic packaging involves the utilization of plastic material for packagingThese materials are widely used to produce trays, containers, boxes, cases, and other plastic packagesPlastic is among the highly used materials for packaging due to its innovative visual appeal and durabilityRigid plastic packaging offers unique benefits such as stiffness, high impact strength, and high barrier properties, a boon for the marketThough rigid packaging has existed for many decades, it continues to evolve to meet the needs of changing consumer landscape.

Consumer goods is a highly fragmented industry where product differentiation and packaging play a key roleA rise in the global consumption of consumer goods fuels the demand for rigid plastic packagingAdditionally, improving packaging recycling rates worldwide will drive market growthFurthermore, Rigid plastics are being used in a wide range of packaging due to their cost-effectivenessThough, the key restraint for the rigid plastic packaging market is related to plasticsPlastics have several harmful effects on the environment and peopleThere have been several calls from organizations on banning plasticsThe ban on plastic packaging would negatively affect the growth of the marketAlso, the rise in e-commerce sales would offer lucrative growth opportunities for the market's growth.

Get Full PDF Sample Copy of Report: https://www.marketstatsville.com/request-sample/rigid-plastic-packaging-market 

Plastics play a significant role in the packaging industry for functional and economic reasonsPlastics are comparatively lower in cost and lightweight than other packaging materialsRigid plastics are used in a wide range of packaging due to their cost-effectivenessApart from cost, their versatility and ability to perform exceptionally well at low temperatures also drive the market for rigid plastics in packagingOne of the primary examples is the trend of glass replacement by rigid plastics to satiate the high demand for bottlesHeat resistant and high barrier plastics replace traditional materials such as metal and glass.

Global Rigid Plastic Packaging Market Dynamics

DriversImproved recycling rates for packaging

The reuse and recycling of packaging materials have gained significant attention globally over the last few yearsRecycling refers to the conversion of any waste into a reusable materialRecycling of packaging is highly witnessed for PET bottles and HDPE milk bottlesThe recycling of rigid plastic packaging reduces the consumption of raw materials, which leads to a decline in water and air pollutionThus, helping in the reduction of greenhouse gasesWith recycled packaging materials, CO2 emissions can also be controlledThe rigid plastics packaging materials have witnessed significant recycling ratesMany governments and industry players have formulated plans to tackle plastic waste by recycling.

RestraintsUncertain raw material prices

Some of the key raw materials packaging companies use board, paper, aluminum, polymer, glass, and steelThese materials are used for both consumer and industrial packagingThe fluctuating prices of these raw materials put the packaging companies in a potentially vulnerable position in the value chainKey material suppliers are typically large enterprises, which have the power to pass on their higher commodity costs which leads to an increase in prices of materials, which in turn increases input prices.

On the buyer side, packaging companies have to supply their products to large and powerful consumer goods companies, which cannot pass on the price increase to end consumers, thereby using the threat of switching to keep suppliers in lineFluctuating prices and unavailability of certain raw materials at certain geographic regions constitute higher costs for rigid packaging manufacturers.

OpportunitiesRise in e-commerce sales globally

E-commerce sales grew by 18from 2017 to 2018The boom in e-commerce offers huge potential for the future growth of retailing worldwide, which, in turn, accelerates the growth of the rigid plastic packaging sectorOver the past few years, e-commerce has become a preferred mode of purchase for many consumers, mainly due to technological advancementsThe rigid plastic packaging industry is mitigating its supply by being ahead of the technological curve and adjusting to different sets of challenges presented by the e-commerce industry compared to traditional sales channelsPackaging companies design packages that must be durable enough to withstand the often complex manual and automated supply chains involved in delivering products to consumers doorstepThe development of the e-commerce industry presents a widespread opportunity for the rigid plastic packaging market.

Make an Enquire before Purchase @: https://www.marketstatsville.com/buy-now/rigid-plastic-packaging-market?opt=2950 

Scope of the Report

The study categorizes the rigid plastic packaging market based on material and end-users at the regional and global levels.

By Material Outlook (Revenue, USD Million, 2017-2030)

  • PET
  • PP
  • HDPE
  • Others

By End-Users Outlook (Revenue, USD Million, 2017-2030)

  • Food and Beverage
  • Personal Care
  • Household
  • Healthcare
  • Others

By Region Outlook (Revenue, USD Million, 2017-2030)

  • North America (US, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
  • The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

The PET segment is projected to account for the largest market share, by material

On the basis of type, the global rigid plastics packaging market is segmented intopolyethylene terephthalate (PET), polypropylene (PP), High-density polyethylene (HDPE), and othersIn 2021, the PET segment accounted for the largest market share of 70.1in the global rigid plastic packaging marketPolyethylene terephthalate is a thermoplastic polymer resinIt is combined with glass fiber for engineering resins, fibers for clothing, thermoforming for manufacturing, and containers for foods and beverages.

Request for Complete TOC and Figures & Graphs @ https://www.marketstatsville.com/table-of-content/rigid-plastic-packaging-market 

Polyethylene terephthalate (PETis among the important commercial polymers with applications ranging from the packaging of electronics, automotive parts, and othersPET rigid plastic packaging provides significant advantages over other types due to their recycling and reusable capacitiesIt includes soft drink cans, food cans, drums & pails, aerosol containers, tubes, etcMoreover, recycled PET can be converted into fabrics, fibers, and sheets for manufacturing and packaging automotive partsThe recycling rate of PET has increased to 0.8from 2016 to 2017This increase reflects the growth opportunities for the market.

Asia Pacific accounts for the highest CAGR during the forecast period

The report segments the global rigid plastics packaging market with five key regionsNorth America, Asia-Pacific, Europe, South America, and the Middle East & AfricaGlobally, Asia Pacific is estimated to hold the highest CAGR of 6.4% in the global rigid plastic packaging market during the forecast periodChina is the leading market for rigid plastic packaging in Asia-Pacific and is expected to witness significant growth during the forecast period and India, owing to the high demand for plastic products and componentsMoreover, the demand for rigid plastic packaging is mainly driven by growth in the soft drinks market.

After Aisa Pacific, North America is the fastest growing region with a CAGR of 5.1during the forecast periodIn North America, there has been a tremendous shift from customers toward environmentally sustainable packaging that has increased the use of recycled plastics such as LDPEOther factors that lead to the growth of the rigid plastic packaging market in North America include the surge in demand for packed food largely by developing markets, increased consumer awareness, and concerns to drive stricter legislation and control.

Request For Report Description @ https://www.marketstatsville.com/rigid-plastic-packaging-market 

Key Market Players

DS Smith Plc, Amcor Limited, Berry Plastics Corporation, ALPLA-Werke Alwin Lehner GmbH & Co KG, Klöckner Pentaplast, Reynolds Group Holdings, RPC Group Plc, Silgan Holdings, Inc., Plastipak Holdings, Inc., and Sonoco Products Company are among the important firms examined in this paperOn the basis of geographical analysis, the research examines the rigid plastics packaging market in terms of development opportunities and constraintsPorter's five forces analysis of the industry is used in the research to identify the influence of suppliers, rivals, new entrants, substitutes, and purchasers on market growth.