PUBLISHER: The Business Research Company | PRODUCT CODE: 1414547
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414547
“Rigid 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 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 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 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 packaging denotes packaging materials that exhibit inflexibility, maintaining their structural integrity even when devoid of contents. This type of packaging is instrumental in safeguarding and transporting products that necessitate a heightened level of protection.
The primary offerings in rigid packaging encompass boxes, trays, containers, cans, bottles, jars, and other related items. Boxes, for instance, are defined as enclosed structures with four sides, a bottom, and a lid, typically constructed from materials such as cardboard, wood, metal, or plastic. These materials serve the purpose of shielding delicate items such as glassware, electronics, and ceramics during the transit and handling processes. Rigid packaging products are manufactured using materials such as polyethylene (PE), polyethylene terephthalate (PET), polystyrene (PS), polypropylene (PP), polyvinyl chloride (PVC), expanded polystyrenes (EPS), bioplastics, among others. Various production techniques, including extrusion, injection molding, and thermoforming, are employed to create packaging solutions for diverse applications, spanning industries such as food and beverages, chemicals, consumer goods, healthcare, and pharmaceuticals.
The rigid packaging market research report is one of a series of new reports from The Business Research Company that provides rigid packaging market statistics, including the rigid packaging industry's global market size, regional shares, competitors with a rigid packaging market share, detailed rigid packaging market segments, market trends, and opportunities, and any further data you may need to thrive in the rigid packaging industry. This rigid 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 packaging market size has grown strongly in recent years. It will grow from $223.47 billion in 2023 to $239.9 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The expansion observed in the historical period can be ascribed to factors such as advancements in materials, shifts in consumer preferences, the impact of globalization, the surge in e-commerce activities, and enhancements in supply chain efficiency.
The rigid packaging market size is expected to see strong growth in the next few years. It will grow to $307.14 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the forecast period is linked to several key factors, including the adoption of circular economy initiatives, dynamic shifts in consumer demands, efforts towards climate change mitigation, increased emphasis on customization and personalization, the ascendance of sustainable practices, and ongoing logistics optimization. Noteworthy trends expected in the forecast period encompass a heightened focus on sustainability initiatives, the integration of innovative materials and technologies, the impact of e-commerce, a drive towards cost efficiency, and the optimization of supply chain processes for brand differentiation.
The rigid packaging market is anticipated to experience growth, driven by an increasing demand for environmentally friendly and sustainable packaging solutions. This trend involves the use of packaging products and solutions designed to minimize ecological impacts, serving as alternatives to conventional plastic or other environmentally harmful metal packaging. Rigid packaging options, such as cans, ampoules, and bottles, offer extended shelf life and robust product protection, contributing to the reduction of food waste and the necessity for additional packaging materials. As an illustration, in 2022, the Ellen MacArthur Foundation, a UK-based non-profit organization, set a goal to ensure that 100% of plastic packaging is either reusable, recyclable, or compostable, with an emphasis on increasing the share of post-consumer recycled content. Consequently, the growing emphasis on environmentally friendly and sustainable packaging is a key driver for the rigid packaging market.
The increasing consumption of convenience and ready-to-eat food products is poised to propel the growth of the rigid packaging market. Convenience and ready-to-eat food items encompass a variety of pre-cooked and pre-packaged meals, ranging from dry products to salads, snack packs, microwaveable meals, frozen foods, canned goods, and prepared mixes. This trend is driven by shifts in consumer lifestyles, including a rise in the number of working individuals and busy schedules, leading to a heightened demand for on-the-go food options. Such products require packaging that is easy to handle, transport, and capable of safeguarding the food from contamination and damage during transportation, making rigid packaging an ideal choice. For instance, the projected retail sales of packaged foods in Japan are expected to reach $235.9 billion by 2026, reflecting a 9.1% increase or $19.6 billion from 2022. Consequently, the growing consumption of convenience and ready-to-eat food products stands as a significant driver for the rigid packaging market.
Companies operating in the rigid packaging market are increasingly prioritizing partnerships and collaborations as a strategic approach to enhance their financial strength and expand their product portfolios. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. An illustrative example of this trend is the partnership between TotalEnergies, a French multinational integrated energy and petroleum company, and Ecolab, an American corporation specializing in water treatment, purification, cleaning, and hygiene services and technology. In February 2023, they collaborated to launch plastic packaging incorporating recycled material for heavy-use purposes. The new product, part of the REuse range in the REclic circular polymers portfolio, combines post-consumer recycled material with a high-performing booster resin to enable circularity while maintaining optimal performance.
Prominent trend in the rigid packaging market is a focus on product innovation. Major players in the market are directing their efforts towards creating innovative solutions, including sustainable materials, active packaging, seaweed packaging, water-soluble packaging, among others. For instance, in October 2022, Sterimed, a France-based medical packaging company, introduced Polybond CGP, a novel substrate for rigid packaging needs. This innovative product comprises 70% less plastic and is primarily composed of components from renewable resources and bio-sourced carbon. Its unique fiber mesh structure, blending cellulose with a significant amount of synthetic binders, sets it apart in terms of innovation.
In May 2022, Alpek, S.A.B. de C.V., a prominent Mexico-based chemical manufacturing company specializing in the production of PET (Polyethylene Terephthalate) and PTA (Purified Terephthalic Acid) in the Americas, and holding the distinction of being the sole producer of polypropylene and caprolactam in Mexico, successfully completed the acquisition of OCTAL Holding SAOC. The deal was valued at $620 million. Through this strategic acquisition, Alpek, S.A.B. de C.V. aims to bolster its technical expertise and capitalize on its well-established customer relationships to drive sustained long-term growth. OCTAL Holding SAOC, based in Oman, is a significant player in the PET packaging industry. This acquisition aligns with Alpek's strategic vision to expand and strengthen its market position by integrating the capabilities and resources of OCTAL into its existing operations.
Major companies operating in the rigid packaging market report are Amcor plc, Reynolds Packaging, Berry Global Inc., Sonoco Products Company, Sealed Air Corporation, Silgan Holdings Inc., Plastipak Holdings Inc., Consolidated Container Company, Ball Corporation, Georgia-Pacific LLC, Crown Holdings Inc., Bemis Company Inc., Holmen AB, Mondi plc, Amcor Group GmbH, Alpla Werke Alwin Lehner GmbH & Co KG, DS Smith Plc, Graham Packaging Company, Huhtamaki Inc., Albea Group, Pactiv LLC, Takween Advanced Industries, Al Jabri Plastic Factory, Anivive Lifesciences, Ardagh Group SA, Brambles Ltd., Grief Inc., IPL Plastics, Metals, QBiotics Group, Regeneus, SABIC, Schoeller Allibert, Torigen Pharmaceuticals, Vetropack Holding
Asia-Pacific was the largest region in the rigid packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global rigid packaging market report during the forecast period. The regions covered in the rigid packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the rigid packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The rigid packaging consists of sales of high-end folding carton boxes and corrugated and paperboard boxes, whip cream cans, pickle jars, hard plastic cannabis containers, yogurt containers, and wine bottles. 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.