NEW YORK, June 28, 2022 /PRNewswire/ -- As per
Zion Market Research study, The global rigid packaging
market was worth around $495
billion in 2021 and is predicted to grow to around
$750 billion by 2028 at a CAGR rate
of 6% over the forecast period.
Key Industry Insights & Finding of the Rigid Packaging
Market Reports:
- As per the analysis shared by our research analyst, the Rigid
Packaging Market is expected to grow annually at a CAGR of
around 6 % (2022-2028).
- Through the primary research, it was established that the Rigid
Packaging Market was valued approximately USD
495 Billion in 2021 and is projected to reach to
roughly USD 750 Billion by 2028.
- This is driven by a massive expansion of pharmaceuticals and
food processing sectors which increases the demand for rigid
packaging.
- North America trails as the
second major contributor to the revenue share of the global market
as plastic became the most popular raw material here.
- The green packaging and bioplastic packaging solutions have
gained traction here to a large extent driving the market
growth.
- Europe is also expected to
grow considerably in the global market as it is the highest
consumer of packaged goods along with increasing disposable income
in the region.
Zion Market Research published the latest report titled as
"Rigid Packaging Market By Material (Bioplastics, Wood,
Plastics, Metal, Paper & Paperboard, And Others), By
Applications (Pharmaceuticals, Personal Care, Food & Beverages,
And Others), By Type (Boxes, Tubs, Bottles & Jars, Trays, Cups
& Pots), And By Region - Global And Regional Industry Overview,
Market Intelligence, Comprehensive Analysis, Historical Data, And
Forecasts 2022 – 2028." into their research database.
Rigid Packaging Market : Overview
Rigid packaging is a package solution that includes the usage of
materials such as rigid plastics, metal, glass, and other
applications. There have been ample varieties of rigid packaging
materials that have emerged over time.
There are two types of packaging that are available and
leveraged widely across all fields. Both of them are extensively
deployed in industrial domains, food & beverages, consumer
goods, healthcare & pharmaceuticals, and chemical industries.
Rigid packaging is a tighter package system that involves materials
such as glass containers, plastic boxes, cans, and cardboard. They
have been leveraged to pack multiple consumer goods such as
packaged food, cosmetics, and personal care products.
Rigid packaging is a fitting alternative for flexible packaging
solutions which shields items from extreme heat, corrosion,
moisture, and other environmental destructive factors. There are
quite a lot of innovations happening in that arena along with so
many product innovations with respect to stakeholders' increasing
attention. New grades and versions of plastics are used in rigid
packaging solutions to improve the quality of packaging which
protects from any external adversities.
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Strategy, Sales Volume, and Revenue Analysis
- Zion Market Research methodology
Industry Dynamics:
Rigid Packaging Market : Growth Drivers
- Rising demand for F&B and increasing focus on
eco-friendly resources in packaging induces market growth
The increasing demand for fresh food & beverages, home &
personal care goods, pharmaceutical industries, and the rising
prominence of retail industries globally induce market growth. The
mounting demand for durable and eco-friendly rigid packaging is
gaining prominence which in turn aids the market prospectively.
The advent of digitalization has also seen rampant leverage on
e-commerce industries. Packaging becomes an essential component in
these industries to enable the reach of the products without any
damage in the stipulated time. This factor augments growth in the
global market. Consumption of ready-to-eat food products and
convenience foods have also become a necessity which is improving
the demand for rigid packaging in multitudes.
The new trend in the market which is called sustainable
packaging or green packaging uses bio-degradable or renewable
resources. This revolution in the packaging industry seems to spike
up demand fomenting remarkable global rigid packaging market growth
during the forecast period.
Apart from this, food processing sectors and pharmaceuticals
have gained significance over the years and are the mainstream
contributors to the rigid packaging market. The massive leverage of
packaging materials in these sectors augments market growth
exclusively.
Rigid Packaging Market : Restraints
- Stringent protocols and guidelines pertaining to rigid
packaging act as a restraint.
The regulations and guidelines imposed for rigid packaging make
it cumbersome leverage. However, these regulations deem necessary
as any slight defect in packaging may spoil the product. This
factor hinders the growth of the global market. Apart from this,
the government has enacted laws that only biodegradable sources
should be used as raw materials. The use of these biodegradable
components comes at a higher cost limiting the market growth
considerably.
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Rigid Packaging Market: Opportunities
- The emergence of bioplastics and rising innovations in
packaging industries provide opportunities for market
growth.
Due to the increase in sustainable packaging solutions and
innovations in packaging industries to accommodate biodegradable
resources, there have been significant developments in the package
sectors. With the introduction of bioplastics in replacement for
normal plastics as raw material for packaging, considerable
expansion of the market is expected to arise. All these factors
provide lucrative opportunities for the global rigid packaging
market growth.
Rigid Packaging Market: Challenges
- Busier lifestyle and the rising demand for convenience
products pose a challenge for the global market
There has been a recent prominence of nuclear and double-income
families in developed countries. Hence the demand for on-the-go
products reducing the time for cooking or processing has been on
the rise. This increasing demand affects the packaging industries
to mass-produce package materials to satisfy this influx in demands
posing a challenge for the market as well.
- Higher cost of bio-degradable raw materials for packaging
poses a challenge for the market
Laws have been imposed to use only bio-degradable resources as
raw materials for packaging. The cost of bio-degradable resources
is higher than normal packaging materials. This also increases the
operational cost thereby reducing the demand for rigid packaging
considerably. This factor poses a challenge for the rigid packaging
market.
Global Rigid Packaging Market : Segmentation
- The global rigid packaging market in this research analysis
is divided into the material, type, applications, and
region.
Material is divided into plastics, metal, paper &
paperboard, wood, bioplastic, and others. Type is classified as
bottles & jars, trays, tubs, boxes, and cups & pots.
Applications comprise food & beverage, pharmaceuticals,
personal care, and others.
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List of Key Players of Rigid Packaging Market :
- Amcor Limited
- Ball Corporation
- Bemis Company
- Berry Plastic Corporation
- DS Smith Plc
- Georgia-Pacific Corporation
- Holmen AB
- Plastipak Holdings Inc
- Reynolds Group Holding
- Tetra Pak International.
Key questions answered in this report:
- What are the growth rate forecast and market size for Rigid
Packaging Market ?
- What are the key driving factors propelling the Rigid Packaging
Market forward?
- What are the most important companies in the Rigid Packaging
Market Industry?
- What segments does the Rigid Packaging Market cover?
- How can I receive a free copy of the Rigid Packaging Market
sample report and company profiles?
Report Scope:
Report
Attribute
|
Details
|
Market size value in
2021
|
USD 495
Billion
|
Revenue forecast in
2028
|
USD
750 Billion
|
Growth
Rate
|
CAGR of almost 6 %
2022-2028
|
Base
Year
|
2020
|
Historic
Years
|
2016 -
2021
|
Forecast
Years
|
2022 -
2028
|
Segments
Covered
|
By Product Type, By
Application, and By End Use
|
Forecast
Units
|
Value (USD Billion),
and Volume (Units)
|
Quantitative
Units
|
Revenue in USD
million/billion and CAGR from 2022 to 2028
|
Regions
Covered
|
North America, Europe,
Asia Pacific, Latin America, and Middle East & Africa, and Rest
of World
|
Countries
Covered
|
U.S., Canada, Mexico,
U.K., Germany, France, Italy, Spain, China, India, Japan, South
Korea, Brazil, Argentina, GCC Countries, and South Africa, among
others
|
Companies
Covered
|
Amcor Limited, Ball
Corporation, Bemis Company, Berry Plastic Corporation, DS Smith
Plc, Georgia-Pacific Corporation, Holmen AB, Plastipak Holdings
Inc, Reynolds Group Holding, and Tetra Pak
International.
|
Report
Coverage
|
Market growth drivers,
restraints, opportunities, Porter's five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, market
attractiveness analysis by segments and region, company market
share analysis, and COVID-19 impact analysis.
|
Customization
Scope
|
Avail customized
purchase options to meet your exact research needs.
https://www.zionmarketresearch.com/custom/3292
|
Free Brochure:
https://www.zionmarketresearch.com/requestbrochure/rigid-packaging-market
Recent Developments
- In February 2020, Plastipak
announced the launch of a light-weight packaging finish for
carbonated beverage bottles.
Regional Dominance:
- Asia Pacific region
dominates the market as the largest consumer of packaging
services.
Asia Pacific region contributes
to the revenue majorly in the global market. This is driven by a
massive expansion of pharmaceuticals and food processing sectors
which increases the demand for rigid packaging. North America trails as the second major
contributor to the revenue share of the global market as plastic
became the most popular raw material here. The green packaging and
bioplastic packaging solutions have gained traction here to a large
extent driving the market growth. Europe is also expected to grow considerably
in the global market as it is the highest consumer of packaged
goods along with increasing disposable income in the region.
Global Rigid Packaging Market is segmented as
follows:
Rigid Packaging Market : By Material Outlook
(2022-2028)
- Plastic
- Metal
- Paper & Paperboard
- Wood
- Bioplastic
- Others
Rigid Packaging Market : By Type Outlook (2022-2028)
- Bottles & Jars
- Trays
- Tubs
- Boxes
- Cups & Pots
Rigid Packaging Market : By Applications Outlook
(2022-2028)
- Food & Beverage
- Pharmaceuticals
- Personal Care
- Others
Rigid Packaging Market : By Region Outlook
(2022-2028)
North America
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East &
Africa
- GCC
- South Africa
- Rest of Middle East &
Africa
Press Release For Rigid Packaging Market :
https://www.zionmarketresearch.com/news/global-rigid-packaging-market
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