PUBLISHER: The Business Research Company | PRODUCT CODE: 1409772
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409772
“Rigid Plastic Packaging Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on rigid plastic packaging market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for rigid plastic packaging? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The rigid plastic packaging market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Rigid plastic packaging is characterized by the use of robust and heavier materials compared to flexible packaging, providing structural integrity and support for products.
The primary categories of rigid plastic packaging include boxes, bottles and jars, cans, blister packs, clamshells, trays, intermediate bulk containers (IBC), and other variations. A box, for instance, is a container with a flat bottom designed to safeguard foods, ensure food safety, and prolong the freshness of products. Various materials utilized in rigid plastic packaging encompass polyethylene, polypropylene, high-density polypropylene, among others. The manufacturing processes involved include extrusion, injection molding, and others, catering to diverse end-users such as the food and beverage industry, personal care, household products, healthcare, and more.
The rigid plastic packaging market research report is one of a series of new reports from The Business Research Company that provides rigid plastic packaging market statistics, including rigid plastic packaging industry global market size, regional shares, competitors with a rigid plastic packaging market share, detailed rigid plastic packaging market segments, market trends and opportunities, and any further data you may need to thrive in the rigid plastic packaging industry. This rigid plastic packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rigid plastic packaging market size has grown strongly in recent years. It will grow from $232.45 billion in 2023 to $247.12 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The expansion observed in the historical period can be credited to factors such as cost efficiency, durability, and protection, as well as the versatile, lightweight, and barrier properties of the materials used, contributing to consumer convenience.
The rigid plastic packaging market size is expected to see strong growth in the next few years. It will grow to $313.92 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The anticipated growth in the forecast period can be ascribed to sustainability initiatives, the expansion of e-commerce, a heightened emphasis on customization and branding, regulatory compliance, an increased focus on the circular economy, and evolving consumer preferences. Key trends expected during the forecast period include the adoption of sustainable packaging solutions, innovative packaging designs, initiatives promoting the circular economy, compliance with regulatory standards, advancements in material technology, and the integration of digitalization in the packaging industry.
The anticipated growth of the rigid plastic packaging market is expected to be driven by increasing demand from end users, particularly the food and beverage industry. The food and beverage sector encompasses businesses engaged in the processing, packaging, and distribution of uncooked food. Rigid plastic packaging plays a crucial role in ensuring product durability, thereby promoting food safety and extending shelf life. The rise in demand from the food and beverage industry is evident in Scotland, where, according to the Food and Drink Federation, there were 1,185 companies involved in the manufacture of food and beverages in 2021. Notably, food and beverage exports increased by 12% to $7.9 billion (£5.9 billion), contributing significantly to Scotland's manufacturing landscape, with a turnover of $12.5 billion (£10.4 billion), representing 30% of the total.
Another significant driver of the rigid plastic packaging market is the increasing penetration of retail. The retail sector, encompassing the sale of goods and services directly to consumers through physical stores or online platforms, is witnessing a surge in demand for convenient and durable packaging solutions. The global retail market is projected to grow from $26,178.75 billion in 2022 to $37,665.82 billion in 2027. This growth is driven by the expanding presence of supermarkets, hypermarkets, and convenience stores, as well as the rising trend of on-the-go consumption. Consequently, the demand for rigid plastic packaging is expected to rise in tandem with the increasing retail penetration.
A notable trend in the rigid plastic packaging market is technological advancement, with major companies focusing on the development of new technologies. For example, in September 2022, Amcor Plc., a global packaging company based in Australia, introduced the DairySeal™ line of packaging featuring ClearCor, an advanced polyethylene terephthalate (PET) barrier. ClearCor PET barrier technology, with concentrated capsulation in the preform's center, enhances flexibility and resin possibilities while maintaining recyclability and improving overall barrier performance in the package.
Companies in the rigid plastic packaging market are increasingly turning to partnerships and collaborations to enhance their financial strength and product portfolios. Strategic partnerships involve leveraging each other's strengths and resources for mutual benefits. In February 2023, TotalEnergies, a French multinational energy and petroleum company, collaborated with Ecolab, an American corporation specializing in water treatment, purification, and hygiene services. Together, they launched plastic packaging incorporating recycled material for heavy-use purposes, aiming to achieve circularity without compromising performance.
In October 2022, Pactiv Evergreen Inc., a US-based manufacturer of fresh food and beverage packaging, acquired Fabri-Kal for an undisclosed amount. This strategic acquisition is anticipated to strengthen Pactiv's position in the food service and consumer packaged goods industries. Fabri-Kal, a US-based manufacturer, specializes in plastic food service and custom thermoformed packaging.
Major companies operating in the rigid plastic packaging market report are Berry Global Inc., Amcor Plc, Silgan Holdings Inc., Pactiv Evergreen Inc., DS Smith Plc, Al Jabriplastic Group, Sealed Air Corporation, Takween Advanced Industries Company, Plastipak Holdings Inc., Anchor Packaging LLC, Bemis Manufacturing Company, ALPLA Group GmbH & Co. KG, Sonoco Products Company, Klockner Pentaplast Group GmbH, Gerresheimer AG, Consolidated Container Co. LLC, Winpak Ltd., Graham Packaging Company Inc., IPL Plastics Inc., Linpac Packaging Limited, M&H Plastics Limited, Placon Corporation, Printpack Incorporated, Rexam PLC, Ring Container Technologies LLC, RPC Group Plc, Solo Cup Company, Tekni-Plex Inc., Polypack Inc., Hedwin Corporation .
Asia-Pacific was the largest region in the rigid plastic packaging market in 2023. The regions covered in the rigid plastic packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the rigid plastic packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The rigid plastic packaging market consists of sales of whip cream cans, pickle jars, wine bottles, hummus containers, and hard plastic cannabis containers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.