The Rigid Packaging Market was worth USD 198.9 billion in 2021 and is projected to expand with a CAGR of 5.53% over 2022-2030, thereby accumulating USD 322.73 billion by the end of the analysis timeline.
Rigid packaging includes the usage of denser and thicker components such as metal, glass, and rigid plastics for packaging applications. This packaging method provides better protection against heat and also offers structure and support to the products. Corrugated & paperboard boxes, plastic bottles & boxes, aluminum cans, and glass jars are the most commonly used forms of rigid packaging.
What are the primary growth determinants of the marketplace?
The major factors aiding the progression of this industry are growing demand for consumer goods, enhancement in package recycling rates, and low cost of rigid plastic packaging. Alongside, escalating demand for convenient food products owing to busy lifestyle of the masses coupled with rapid urbanization are augmenting industry outlook.
Furthermore, technological innovations in the packaging industry, increasing disposable income in emerging economies, and population expansion worldwide are adding traction to market expansion.
On the contrary, fluctuations in raw material prices and stringent government regulations owing to adverse environmental impact of plastics are hindering industry progression. Also, growing adoption of flexible packaging materials is impeding market development.
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Segmental analysis of global rigid packaging market
Based on type
- bottles & jars
- cups
- pots
- rigid bulk products
- trays
- tubs
The bottles & jars segment is poised to register notable gains over the stipulated timeline owing to escalating demand for beverages and homecare products.
Based on raw material
- expanded polystyrene
- polyethylene
- polyethylene terephthalate
- polypropylene
- polystyrene
- polyvinyl chloride
- bioplastics
By production process
- blow molding
- injection molding
- thermoforming
- extrusion
- others
The extrusion segment is presently dominating the market due to low material and disposal costs associated with extrusion operation.
Basis of material type
- glass
- metal
- paper & paperboard
- plastics
others
The plastics segment is expected to expand significantly over the assessment timeline attributing to high adoption of plastics due to their low cost, lesser weight, and ability to maintain the freshness of products.
Based on end user
- food & beverages
- personal care
- pharmaceuticals
- others
The food and beverage segment is presently leading the overall market ascribing to surging demand for ready-to-eat food and rising consumption of beverages across the world.
What is the fastest growing region in the industry?
Considering the geographical ambit, Asia Pacific, Europe, Latin America, North America, and Middle East & Africa are the major benefactors to the overall market growth. Asia Pacific is poised to capture a high revenue share owing to growing developmental activities and prompt economic progression. Additionally, the presence of huge customer base for FMCG products and surging e-retail sales are fueling the regional expansion.
Similarly, Europe is projected to showcase lucrative development trends over 2022-2030 credited to lifestyle improvements and increase in per capital income of the masses.
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Expounding the competitive ambit of the market
The companies defining the competitive hierarchy of worldwide rigid packaging industry are Ball Corporation, DS Smith Plc, Bemis Company, Inc., Plastipak Holdings, Inc., Amcor Limited, Georgia-Pacific Corporation, Holmen AB, Berry Plastics Corporation, Reynolds Group Holdings, and Tetra Pak International S.A.
Notably, Silgan along with Husky and Krones in September 2018 joined hands with Practically Impossible Labs to jointly develop the integrated handle PET bottle range named BottleOne.
Also, in January 2020, Sonoco announced the acquisition of Plastique Holdings Ltd. and Thermoform Engineered Quality LLC to further expand its product portfolio.
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