Global Rigid Plastic Packaging Market

Global Rigid Plastic Packaging Market Size, Share, Growth Analysis, By Product Type(Bottles, Jars), By Raw Material(Polyethylene (PE), High-Density Polyethylene (HDPE)), By Application(Food & Beverages, Healthcare), By Production Process(Extrusion, Injection Molding) - Industry Forecast 2023-2030


Report ID: SQMIG15E2333 | Region: Global | Published Date: February, 2024
Pages: 232 | Tables: 131 | Figures: 77

Global Rigid Plastic Packaging Market Insights

Rigid Plastic Packaging Market size was valued at USD 132.54 billion in 2021 and is poised to grow from USD 139.83 billion in 2022 to USD 203.42 billion by 2030, growing at a CAGR of 5.5% in the forecast period (2023-2030).

For the packaging of new bottles and containers, rigid plastic packaging uses plastic materials like polypropylene (PP), high-density polyethylene (HDPE), and polyethylene (PET). Both strong and light, these materials. Packaging made of polyethylene and polypropylene can be used in a variety of industries, including food and beverage, agriculture, aerospace, automotive, and medical. The food and beverage industry's explosive growth are a major factor in the rigid plastic packaging market's rise since it increases demand for bottles, jars, fruit juice containers, food packaging containers, and gastronomic bags.

US Rigid Plastic Packaging Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 132.54 billion

Largest Segment

Bottles and Jars

Fastest Growth

Trays and Containers

Growth Rate

5.5% CAGR

Global Rigid Plastic Packaging Market, 2021-2028($ Bn)
Country Share for North America Region- 2021 (%)
Global Rigid Plastic Packaging Market Size By Product Type , 2021-2028 ($ Bn)
Global Rigid Plastic Packaging Market Size By Product Type, 2021-2028 (%)

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Global Rigid Plastic Packaging Market Segmental Analysis

The Global Rigid Plastic Packaging Market is segmented based on the Product Type, Raw Material, Application, Production Process and region. Based on the Product Type, it is segmented into Bottles and Jars, Trays and Containers, Caps & Closures, Others. Based On Raw Material, it is segmented into Polyethylene (PE), High-Density Polyethylene (HDPE), Polystyrene (PS), Polypropylene (PP), Polyethylene Terephthalate (PET), Polyvinyl Chloride (PVC), Expanded Polystyrene (EPS), Bioplastics, Multi-material Combination and Others. Based on Application, it is segmented into Food & Beverages, Healthcare, Cosmetics & Toiletries, Industrial, Others. Based on Process, it is segmented into Extrusion, Injection Molding, Blow Molding, Thermoforming and others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Rigid Plastic Packaging Market Analysis by Product Type

The global rigid plastic packaging market is segmented based on products as bottles and jars; trays and containers; caps & closures; and others. Among these segments, the bottles and jars segment held the most dominant share in the market during the forecast period. The segmental growth is due to the huge growth in the beverages sector, cosmetics, and chemical industry across the globe. Increased dairy products, soda and soft drinks consumption across the globe has also positively influenced the growth of the market. According to predictions by the Campaign for Rural England, 2 trillion drink containers will be produced and sold annually throughout the world. For every individual on the earth, that equates to more than five a week. And it keeps increasing annually.

Rigid Plastic Packaging Market Analysis by Raw Material

The global rigid plastic packaging market is segmented based on raw materials as polyethylene (PE); polystyrene (PS); polypropylene (PP); polyethylene terephthalate (PET); polyvinyl chloride (PVC); bioplastics; multi-material combination; and others. Among these segments, the PE segment held the most dominant share in the market during the forecast period. Polyethylene produced by the medium or low-pressure method is called ‘high- density polyethylene; which is widely used in the plastic packaging industry. In 2021, it was anticipated that there will be a 50 million tons global demand for polyethylene and a 59 million tons increase in production capacity. The most widely utilized polymer in the production of goods like packaging is polyethylene.

Rigid Plastic Packaging Market Analysis by Application

The global rigid plastic packaging market is segmented on the basis of application as food & beverages, healthcare, cosmetics & toiletries, industrial, and others. Among these segments, the food & beverages segment held the most dominant share in the market during the forecast period. Increased population across the globe demands a large amount of food to rely upon, and requires proper storage and preserving containers. Hence, this is likely to aid the market growth during the forecast period. With only 2% recycled content, McDonald's reported using 153,000 metric tons of plastic packaging for its beverage cups, lids, and cutlery.

Global Rigid Plastic Packaging Market By Product Type, 2021(%), 2021 (%)

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Global Rigid Plastic Packaging Market Regional Insights

The global rigid plastic packaging market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Among these regions, the Asia-Pacific region is projected to hold the most substantial share of more than 45% in 2021. India and China are the two key countries that lead the Asia-Pacific rigid plastic packaging market. The presence of a large pool of population in the region demands more FMCG and consumer durable products; which further requires proper packaging products which is likely to aid the growth of the market during the forecast period. On the other hand, the availability of cost-effective raw materials, cheap labour as well as manufacturing land and other manufacturing facilities make the manufacturers shift their plants in the region, especially in these countries which again fuels the market growth during the forecast period. In addition to this, the packaging sector has seen a rapid penetration of plastics in the region since the last decade, backed by the rise in the e-commerce sector. Moreover, the growth in the food & beverage sector is further augmenting the demand for plastics in packaging, as it ensures food safety, quality, and long shelf life. Since packaged food is one of the fastest-growing industries, it is expected to fuel the demand for plastic packaging and turn, will drive the plastics industry growth in the region.

Global Rigid Plastic Packaging Market By Geography, 2021 - 2028, 2023-2030
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Global Rigid Plastic Packaging Market Dynamics

Rigid Plastic Packaging Market Driver

  • One of the key drivers of the market's expansion in recent years has been the healthcare sector's rising demand for rigid plastic packaging. Businesses in the healthcare sector use rigid plastic to protect medications from infection. International regulatory criteria for safety must be met by the medical product packaging. As a result, rigid plastic is ideal for keeping medical supplies due to its characteristics, which also include its strength, light weight, cleanliness, and clarity.
  • Some of the expanding uses for polypropylene include medicine bottles, bottle caps and closures, and bottles for ketchup and syrups. For instance, Unilever introduced ice creams in tubs made from recycled PP plastic packaging under the Magnum brand, a first for the ice cream sector. The action was a part of the company's larger plan to have at least 25% of its plastic packaging made from post-consumer recycled material by 2025.

Rigid Plastic Packaging Market Restraint

  • Governments in developing countries have grown increasingly concerned about environmental protection, and measures are being done to encourage sustainable packaging. As a result of these regulations prohibiting firms from procuring raw materials that do not comply with environmental standards, the cost of raw materials would rise, raising operating expenses. As revenues fall, this has an impact on overall rigid plastic packaging income.

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Global Rigid Plastic Packaging Market Competitive Landscape

The rigid plastic packaging market is highly competitive. For the purpose of lowering costs and enhancing the performance of packaging, businesses are concentrating on offering lightweight and high-performance grades. The market is highly competitive because there are lots of players present.

Top Players in Global Rigid Plastic Packaging Market

  • Amcor Plc
  • Berry Global Inc.
  • Sealed Air Corporation
  • RPC Group Plc
  • Huhtamaki Oyj
  • Silgan Holdings Inc.
  • Sonoco Products Company
  • DS Smith Plc
  • ALPLA Werke Alwin Lehner GmbH & Co KG
  • Consolidated Container Company
  • Crown Holdings Inc.
  • Graham Packaging Company
  • Plastipak Holdings Inc.
  • Printpack Inc.
  • Winpak Ltd.
  • AptarGroup Inc.
  • Coveris Holdings SA
  • Tekni-Plex Inc.
  • Pactiv LLC
  • Gerresheimer AG

Rigid Plastic Packaging Market Recent Developments

  • In June 2022, WWP Beauty, based in the United States, has partnered with Oceanworks to assist customers in incorporating recycled ocean plastics into their products. The collaboration will result in more eco-friendly beauty packaging designs made from Oceanworks' ocean plastics.
  • In June 2022, Siegwerk, a global supplier of printing inks and coatings for packaging applications and labels, recently announced a new development, an improved deinking specifically for rigid plastic packaging that significantly aids industrial mechanical recycling.

Global Rigid Plastic Packaging Key Market Trends

  • Sustainable packaging is undoubtedly the most important trend that will shape the future of this business, as awareness of climate change and the reality that consumer goods' packaging is mostly to blame for pollution is expanding. Packaging that uses sustainable materials, has a green supply chain, and is reusable, recyclable, or biodegradable will prosper.
  • Another significant trend is personalized packaging that capitalizes on individuality. Personalized packaging will support the company's marketing initiatives with the use of design and technology.
  • Both businesses and customers appreciated a product's packaging if it is easy to hold and carry. As a result, even well-known businesses are making investments in portable packaging, such as those designed specifically for residents to carry conveniently. As a result, cutting-edge packaging will be popular moving forward.

Global Rigid Plastic Packaging Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Rigid Plastic Packaging Market Analysis, The Asia pacific region contributing largest market share in 2021. Additionally, as plastic packaging assures food safety, quality, and a long shelf life, the expansion of the food and beverage industry is boosting demand for it. One of the areas with the quickest growth rates is packaged food, which is predicted to increase demand for plastic packaging and, in turn, propel the expansion of the local plastics industry. As awareness of climate change and the fact that consumer goods' packaging is mostly responsible for pollution grows, sustainable packaging is clearly the most significant trend that will influence the future of this industry. Packaging that is reusable, recyclable, or biodegradable will prosper, as will packaging that employs sustainable materials and has a green supply chain.

Report Metric Details
Market size value in 2021 USD 132.54 billion
Market size value in 2030 USD 203.42 billion
Growth Rate 5.5%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product Type
    • Bottles, Jars, Trays, Containers, Caps & Closures, Others
  • Raw Material
    • Polyethylene (PE), High-Density Polyethylene (HDPE), Polystyrene (PS), Polypropylene (PP), Polyethylene Terephthalate (PET), Polyvinyl Chloride (PVC), Expanded Polystyrene (EPS), Bioplastics, Multi-material Combination, Others
  • Application
    • Food & Beverages, Healthcare, Cosmetics & Toiletries, Industrial, Others
  • Production Process
    • Extrusion, Injection Molding, Blow Molding, Thermoforming, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Amcor Plc
  • Berry Global Inc.
  • Sealed Air Corporation
  • RPC Group Plc
  • Huhtamaki Oyj
  • Silgan Holdings Inc.
  • Sonoco Products Company
  • DS Smith Plc
  • ALPLA Werke Alwin Lehner GmbH & Co KG
  • Consolidated Container Company
  • Crown Holdings Inc.
  • Graham Packaging Company
  • Plastipak Holdings Inc.
  • Printpack Inc.
  • Winpak Ltd.
  • AptarGroup Inc.
  • Coveris Holdings SA
  • Tekni-Plex Inc.
  • Pactiv LLC
  • Gerresheimer AG
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Rigid Plastic Packaging Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Rigid Plastic Packaging Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Rigid Plastic Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Rigid Plastic Packaging Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Rigid Plastic Packaging Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Rigid Plastic Packaging Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Rigid Plastic Packaging Market size was valued at USD 132.54 billion in 2021 and is poised to grow from USD 139.83 billion in 2022 to USD 203.42 billion by 2030, growing at a CAGR of 5.5% in the forecast period (2023-2030).

The rigid plastic packaging market is highly competitive. For the purpose of lowering costs and enhancing the performance of packaging, businesses are concentrating on offering lightweight and high-performance grades. The market is highly competitive because there are lots of players present. 'Amcor Plc', 'Berry Global Inc.', 'Sealed Air Corporation', 'RPC Group Plc', 'Huhtamaki Oyj', 'Silgan Holdings Inc.', 'Sonoco Products Company', 'DS Smith Plc', 'ALPLA Werke Alwin Lehner GmbH & Co KG', 'Consolidated Container Company', 'Crown Holdings Inc.', 'Graham Packaging Company', 'Plastipak Holdings Inc.', 'Printpack Inc.', 'Winpak Ltd.', 'AptarGroup Inc.', 'Coveris Holdings SA', 'Tekni-Plex Inc.', 'Pactiv LLC', 'Gerresheimer AG'

One of the key drivers of the market's expansion in recent years has been the healthcare sector's rising demand for rigid plastic packaging. Businesses in the healthcare sector use rigid plastic to protect medications from infection. International regulatory criteria for safety must be met by the medical product packaging. As a result, rigid plastic is ideal for keeping medical supplies due to its characteristics, which also include its strength, light weight, cleanliness, and clarity.

Sustainable packaging is undoubtedly the most important trend that will shape the future of this business, as awareness of climate change and the reality that consumer goods' packaging is mostly to blame for pollution is expanding. Packaging that uses sustainable materials, has a green supply chain, and is reusable, recyclable, or biodegradable will prosper.

The global rigid plastic packaging market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Among these regions, the Asia-Pacific region is projected to hold the most substantial share of more than 45% in 2021. India and China are the two key countries that lead the Asia-Pacific rigid plastic packaging market. The presence of a large pool of population in the region demands more FMCG and consumer durable products; which further requires proper packaging products which is likely to aid the growth of the market during the forecast period. On the other hand, the availability of cost-effective raw materials, cheap labour as well as manufacturing land and other manufacturing facilities make the manufacturers shift their plants in the region, especially in these countries which again fuels the market growth during the forecast period. In addition to this, the packaging sector has seen a rapid penetration of plastics in the region since the last decade, backed by the rise in the e-commerce sector. Moreover, the growth in the food & beverage sector is further augmenting the demand for plastics in packaging, as it ensures food safety, quality, and long shelf life. Since packaged food is one of the fastest-growing industries, it is expected to fuel the demand for plastic packaging and turn, will drive the plastics industry growth in the region.

Rigid Plastic Packaging Market size was valued at USD 132.54 billion in 2021 and is poised to grow from USD 139.83 billion in 2022 to USD 203.42 billion by 2030, growing at a CAGR of 5.5% in the forecast period (2023-2030).

The rigid plastic packaging market is highly competitive. For the purpose of lowering costs and enhancing the performance of packaging, businesses are concentrating on offering lightweight and high-performance grades. The market is highly competitive because there are lots of players present. 'Amcor Plc', 'Berry Global Inc.', 'Sealed Air Corporation', 'RPC Group Plc', 'Huhtamaki Oyj', 'Silgan Holdings Inc.', 'Sonoco Products Company', 'DS Smith Plc', 'ALPLA Werke Alwin Lehner GmbH & Co KG', 'Consolidated Container Company', 'Crown Holdings Inc.', 'Graham Packaging Company', 'Plastipak Holdings Inc.', 'Printpack Inc.', 'Winpak Ltd.', 'AptarGroup Inc.', 'Coveris Holdings SA', 'Tekni-Plex Inc.', 'Pactiv LLC', 'Gerresheimer AG'

One of the key drivers of the market's expansion in recent years has been the healthcare sector's rising demand for rigid plastic packaging. Businesses in the healthcare sector use rigid plastic to protect medications from infection. International regulatory criteria for safety must be met by the medical product packaging. As a result, rigid plastic is ideal for keeping medical supplies due to its characteristics, which also include its strength, light weight, cleanliness, and clarity.

Sustainable packaging is undoubtedly the most important trend that will shape the future of this business, as awareness of climate change and the reality that consumer goods' packaging is mostly to blame for pollution is expanding. Packaging that uses sustainable materials, has a green supply chain, and is reusable, recyclable, or biodegradable will prosper.

The global rigid plastic packaging market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Among these regions, the Asia-Pacific region is projected to hold the most substantial share of more than 45% in 2021. India and China are the two key countries that lead the Asia-Pacific rigid plastic packaging market. The presence of a large pool of population in the region demands more FMCG and consumer durable products; which further requires proper packaging products which is likely to aid the growth of the market during the forecast period. On the other hand, the availability of cost-effective raw materials, cheap labour as well as manufacturing land and other manufacturing facilities make the manufacturers shift their plants in the region, especially in these countries which again fuels the market growth during the forecast period. In addition to this, the packaging sector has seen a rapid penetration of plastics in the region since the last decade, backed by the rise in the e-commerce sector. Moreover, the growth in the food & beverage sector is further augmenting the demand for plastics in packaging, as it ensures food safety, quality, and long shelf life. Since packaged food is one of the fastest-growing industries, it is expected to fuel the demand for plastic packaging and turn, will drive the plastics industry growth in the region.

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Global Rigid Plastic Packaging Market

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