Overview of the Rigid Plastic Packaging Market
Rigid plastic packaging use in the packaging of aluminum & steel, plastic grades such as polyethylene (PE), polyethylene terephthalate (PET), glass and paperboard etc. Rigid plastic packaging offer benefits such as durability, longevity, low-cost, absorption of flavors and lightweight. These benefits bring high demand for rigid plastic packaging in the market. However, the changing lifestyle and buyer’s spending also contribute in the market growth. Rigid plastic packaging is use vitally in industries such as pharmaceuticals, electronics, personal care and food & beverages. The global rigid plastic packaging market is projected to reach $340,434.7m by 2026, at a CAGR of 5.6% during the forecast period 2019-2026.
Dynamics of the Global Rigid Plastic Packaging Market
The global rigid plastic packaging market is majorly driven by factors such as rising demand from the food and beverages industry. Owing to busy lifestyle, the eating habits of consumers are changing, as consumers prefer more packaged foods and this further boost the demand of rigid plastic packaging. However, concerns related to increasing environment pollution is expected to restrain the non-biodegradable properties of rigid plastic packaging. However, some manufacturers are using natural raw materials for manufacturing of rigid plastic packaging types rather synthetic materials for manufacturing. It is expected that biodegradable rigid plastic will overcome the restrain of environmental consciousness. In addition, increasing number of plastic recycling units will acts as a lucrative opportunity for the market to grow. On the other hand, the competition from flexible plastic packaging may impact negatively on growth of the rigid plastic packaging market.
Segmentation Overview of the Global Rigid Plastic Packaging Market
The global rigid plastic packaging market is segmented on the basis of end-user and material.
The End-User segment is sub-segmented into:
The Material segment is sub-segmented into:
Rising environment concern boost the bioplastic segment of the Global Rigid Packaging Plastic Market
Favorable government policies encourage usage of bioplastics packaging in place of conventional plastics. Use of bioplastics on a mass scale contribute in environment protection. In addition, renewable properties of bioplastics also contribute in sustainability of the environment. Due to these reasons, various countries are shifting towards the usage of bioplastics packaging. In addition, rising awareness among the people about negative ecological impact lead by the use of plastics is another key driver for the global bioplastic packaging market. Developing properties such as attractive, easily printable and antistatic in bioplastics packaging has also driven the market.
Regional Overview of the Rigid Plastic Packaging Industries
Asia Pacific is projected as a strong region for rigid plastic packaging market. Increasing investment by various oil & gas companies for plant set-up in the Asia Pacific region is expected to boost the demand for the region in coming years. While, North America is also anticipated to grow at a moderate growth rate over the next few years. The growing demand of rigid plastic in the is driven by various factors such as increasing demand for food, beverage, and consumer goods in North America.
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