The rigid plastic packaging market is projected to grow from USD 198.9 billion in 2021 to USD 250.2 billion by 2026, at a CAGR of 4.7% during the forecast period. Rigid plastic packaging solely involves the usage of a rigid plastic material that does not exhibit elastic deformation and has a relatively rigid shape or form. It includes products such as bottles & jars, trays, and blister packs. The global rigid packaging market has witnessed considerable growth in recent years, mainly driven by features such as low weight, flexibility, and durability.
In terms of value & volume, the bottles & jars segment is projected to lead the global rigid plastic packaging market in 2020. The bottles & jars segment acquired the largest share in the rigid plastic packaging market in 2020, in terms of value, and is projected to grow at the second-highest CAGR during the forecast period.Rigid plastic bottles are used for packaging various products such as water, juices, carbonated soft drinks, cosmetics, food products, personal care products, and pharmaceutical products.
Most of these bottles & jars are made from PET, PE, PP, HDPE, PS, and PVC.The flourishing retail industry, combined with the rise in disposable income of consumers.
The increasing population, growing urbanization, and rising demand for beverages and home care products are fueling the market growth.
The extrusion segment is projected to lead the rigid plastic packaging market during the forecast period. The extrusion segment is projected to lead the rigid plastic packaging market during the forecast period.The process accommodates a wide range of die profiles, allowing manufacturers to create parts and products with a variety of simple to highly complex continuous cross-sections.
The extruded roll stock is ready for thermoforming, with no curing time required. As the extrusion process often uses thermoplastics—which can undergo the melting, molding, and hardening operations repeatedly—the overall material and disposal costs for an extrusion operation are lower than that of other molding processes.
In terms of both value and volume, the Asia Pacific rigid plastic packaging market is projected to grow at the highest CAGR during the forecast period. The Asia Pacific region accounted for the largest share in 2020 and is also projected to record the highest growth rate during the forecast period.Countries such as India and China are expected to post high growth in the rigid plastic packaging market due to growing developmental activities and rapid economic expansion.
In addition to this, the growing population in these countries presents a huge customer base for FMCG products and consumer durables, which, in turn, is expected to lead to the growth of the rigid plastic packaging market. Key factors such as industrialization, growing convenience food industry, rising manufacturing activities, increasing disposable income, rising consumption level, and the growing e-retail sales have contributed to the growth of the rigid plastic packaging market during the forecast period. •?By Department: Sales/Export/Marketing: 54%, Production: 23%, and CXOs: 23% •?By Designation: Managers: 61%, CXOs: 23%, and Executives: 16% •?By Region: North America: 33%, Europe: 27%, Asia Pacific: 25%, Middle East & Africa: 10%, and South America: 5%
The global rigid plastic packaging market comprises major manufacturers, such as Amcor (Switzerland), Berry Global Group Inc. (US), Pactiv LLC (US), Silgan Holdings (US), Sonoco Products Company (US), ALPLA-Werke (Austria), SABIC (Saudi Arabia), and Plastipak Holdings (US).
Research Coverage The market study covers the rigid plastic packaging market across various segments.It aims at estimating the market size and the growth potential of this market across different segments based on type, raw material, production process, application, and region.
The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the rigid plastic packaging market.
Key Benefits of Buying the Report The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall rigid plastic packaging market and its segments and sub-segments.This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
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