PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498788
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498788
Rigid Plastic Packaging Market size was valued at USD 207,109.98 Million in 2023, expanding at a CAGR of 4.90% from 2024 to 2032.
The rising global demand for packaged food and beverages, personal care products, and pharmaceuticals fuels the need for rigid plastic packaging. Convenience and longer shelf life are key benefits driving consumer preference. Rapid urbanization and changing lifestyles, particularly in emerging economies, are leading to increased consumption of consumer goods, thus driving the demand for rigid plastic packaging. The prices of raw materials, such as crude oil and natural gas, which are used in plastic production, can be highly volatile. This volatility can affect the cost structure and profitability of packaging manufacturers. Investing in biodegradable plastics, recyclable materials, and sustainable packaging innovations can open new avenues for growth.
Rigid Plastic Packaging Market- Market Dynamics
Growth in the E-commerce Sector Driving the Rigid Plastic Packaging Market
With the rise of e-commerce platforms, more consumers are opting to shop online for convenience, variety, and competitive pricing. This surge in online shopping translates to higher demand for packaging materials to safely transport goods from sellers to buyers. E-commerce companies often rely on visually appealing packaging to create a memorable unboxing experience for customers. Rigid plastic packaging can be easily customized with branding, logos, and designs, helping online retailers differentiate their products and strengthen brand recognition. According to the global data, 2.71 billion people shop online worldwide. Rigid plastic packaging is lightweight yet sturdy, making it ideal for optimizing shipping and logistics processes in the e-commerce supply chain. Its dimensional stability and stackability minimize the risk of damage during storage and transportation, reducing shipping costs and enhancing overall operational efficiency.
Rigid Plastic Packaging Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.90% over the forecast period (2024-2032)
Based on product type segmentation, Polyethylene Terephthalate was predicted to show maximum market share in the year 2023
Based on application segmentation, Food & Beverages was the leading type in 2023
Based on distribution segmentation, Online Sales was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Rigid Plastic Packaging Market is segmented on the basis of Product Type, Application, Material, Distribution Channel, and Region.
The market is divided into six categories based on material: Polyethylene Terephthalate (PET), Polypropylene (PP), High-Density Polyethylene (HDPE), Polystyrene (PS), Polyvinyl Chloride (PVC), and Other. Particularly, polyethylene (PE) is a material that is frequently utilised in stiff packaging since it is both flexible and durable. Because of its reputation for being resistant to heat and chemicals, polypropylene (PP) is particularly useful in the packaging of food and drink items. Thanks to its well-known insulating properties, polystyrene is a common material found in many industries, including food service and electronics.
The market is divided into two categories based on application: Food & Beverages, Personal Care, Healthcare & Pharmaceuticals, Industrial, Household Products, and Others. Owing to the industry's growing need for bottles, jars, and other containers, the food and beverage sector is anticipated to generate the highest income over the projected period. Rigid plastic bottles and containers are widely used for packaging beverages like water, soft drinks, juices, and dairy products such as milk and yogurt. They offer convenience, protection from contamination, and are recyclable.
Rigid Plastic Packaging Market- Geographical Insights
North America has a significant market share in rigid plastic packaging due to its robust manufacturing infrastructure, technological advancements, and high consumer demand for packaged goods. Regions with strong industrial clusters, such as the Midwest and Northeast in the United States and Ontario in Canada, often have well-established manufacturing facilities for rigid plastic packaging. The United States and Canada are major contributors to the market growth. European countries have stringent regulations regarding packaging materials, which have led to the adoption of rigid plastic packaging for its recyclability and sustainability features. Germany, France, and the United Kingdom are key players in the European market.
Major players in the rigid plastic packaging market include Amcor plc, Berry Global Inc., Sonoco Products Company, RPC Group plc, Coveris Holdings S.A., Printpack Inc., etc. Amcor is a global leader in rigid plastic packaging, offering a wide range of products including bottles, containers, and caps. They serve various industries such as food and beverage, healthcare, and personal care. Berry Global is another major player in the rigid plastic packaging market, providing packaging solutions for food and beverage, healthcare, personal care, and industrial applications. RPC Group is a leading European supplier of rigid plastic packaging, offering products such as bottles, containers, and closures for various markets including food and non-food sectors. For instance, Neste and Jokey collaborated to develop the market for rigid packaging from renewable and recycled materials
In March 2024, PepsiCo and partners collaborated on recycled plastic snack packaging which is a premium snack packaging containing 50% recycled plastic.
In October 2023, India's leading manufacturer of rigid plastic packaging solutions, sponsored by Advent International, formed a partnership with Ganesha Ecosphere Group, the country's biggest plastic bottle recycler. They will collaborate to create and deliver food as well as non-food-grade containers made from recycled materials.
GLOBAL RIGID PLASTIC PACKAGING MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Amcor plc
Berry Global Inc.
Sonoco Products Company
Consolidated Container Company LLC
RPC Group plc
Graham Packaging Company
Silgan Holdings Inc.
Alpha Packaging
Huhtamaki Group
Bemis Company, Inc.
Plastipak Packaging, Inc.
Printpack Inc.
Greiner Packaging International
Coveris Holdings S.A.
Winpak Ltd.
Others