The global market for the Rigid Plastic Packaging is anticipated to develop at a compound annual growth rate (CAGR) of 4.58% throughout the course of the forecast, to reach USD 741.89 Bn by 2030.
The global rigid plastic packaging market size was valued at USD 216.1 billion in 2019 growing at a CAGR of 5.6% from 2019 to 2026. The rigid wrapping of plastic requires the use of plastic components for packaging purposes. In end-user sectors, such as food & beverages, personal care, home, healthcare, and others, plastic packaging is used. Globally, increases in recycling rates for packaging are driving the growth of the rigid plastic packaging industry. Recycling decreases raw material consumption, which reduces water and air pollution. Hence, it aims to minimize greenhouse gases. Over the last few years, the reuse and recycling of packaging materials has gained considerable global attention.
In addition, the surge in global consumer goods use fuels the need for rigid plastic packaging. Over the past quarter century, the consumer-packaged goods (CPG) industry has undergone tremendous expansion, which was primarily fueled by emerging economies due to the growth in consumer spending.
Rigid Plastic Packaging Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 216.1 billion|
|Growth Rate||CAGR of 5.6% during 2021-2028|
|Segment Covered||Type, Application, End Use, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||ALPLA-Werke Alwin Lehner GmbH & Co KG, Amcor Limited, DS Smith Plc, Berry Plastics Corporation, Klöckner Pentaplast, Plastipak Holdings, Inc., Reynolds Group Holdings, RPC Group Plc, Silgan Holdings, Inc. and Sonoco Products Company|
Key Segments of the Global Rigid Plastic Packaging Market
Type Overview, 2018-2028 (USD Billion) (Tons)
- Polyethylene Terephthalate
- Polypropylene (PP)
- High-Density Polyethylene (HDPE)
Application Overview, 2018-2028 (USD Billion) (Tons)
- Food and Beverages
- Personal care
Regional Overview, 2018-2028 (USD Billion) (Tons)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Rigid Plastic Packaging market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global Rigid Plastic Packaging market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Rigid Plastic Packaging industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on type, and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Rigid Plastic Packaging market. The report will benefit: Every stakeholder involved in the Rigid Plastic Packaging market.
- Managers within the Rigid Plastic Packaging industry looking to publish recent and forecasted statistics about the global Rigid Plastic Packaging market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Rigid Plastic Packaging market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
A broad variety of retail and wholesale products bought by customers, such as food, clothes, luxury objects and electronics, are part of the consumer goods market. However, the growth of the rigid plastic packaging industry is hindered by the increase in the end-user move towards flexible packaging and volatile raw material prices.
In addition, the surge in e-commerce revenues globally gives industry participants attractive growth prospects. This e-commerce boom provides tremendous opportunities for future global retail expansion, which, in turn, speeds up consumer growth. Over the past few years, the global demand for rigid plastic packaging has seen tremendous expansion, led by the various beneficial properties of rigid plastic packaging, such as light weight, flexibility and toughness. In comparison, rigid plastic wrapping for a long period of time holds the products safe. There has been an increase in demand for recyclable goods due to growing environmental issues, thereby opening the way for the foray of different recycling products, which in turn is propelling growth of the market for rigid plastic packaging. In different sectors, such as food & drink, pharmaceuticals, and personal care, among others, rigid plastic packaging is used. In fact, the growth seen in these sectors is further propelling the growth of the rigid plastic packaging industry. Overall, over the projected period, the global rigid plastic packaging industry is expected to grow at a single digit CAGR.
On the basis of content, end-user, and area, the global rigid plastic packaging market is segmented. Polyethylene terephthalate (PET), polypropylene (PP), high-density polyethylene (HDPE), and others are separated by content. Low-density polyethylene (LDPE), polylactide (PLA), polystyrene (PS), and polyvinyl chloride are often used (PVC). Owing to its benefits over other types of plastic packaging products and recycled capabilities, the PET market is the highest in terms of sales. It is categorized into food & drink, personal care, home, healthcare, among others on the basis of end-use. The other section concerns packaging for consumer as well as electronic products. In terms of materials, due to the rise in urbanization, the PET segment accounted for the largest share of the overall global market in 2018. Moreover, the increase in customer tastes for refined and frozen foods is also driving the development of the demand for PET rigid plastic packaging.
The beverage segment accounted for the largest market share, in terms of both volume and value, on the basis of the application. Rising people's disposable incomes in developed countries and shifting farmers' tastes for convenient packaging are some of the factors driving the demand for rigid plastic packaging.
The rigid plastic packaging industry has been segmented into North America, Europe, Asia-Pacific, and the rest of the world, based on main regions (RoW). In 2015, Asia-Pacific accounted for the highest proportion of all countries. This is primarily attributed to China and India's developing economies, along with the rise of rigid plastic packaging applications in the food, beverage, and healthcare industries.
Throughout North America, Europe, Asia-Pacific, and LAMEA, the global rigid plastic packaging industry is analyzed. Throughout the projected era, Asia-Pacific is projected to lead the market. Emerging Asia-Pacific countries such as China, India, Vietnam, Australia, Indonesia, and others are primarily driving the global rigid packaging market. The use of rigid plastic packaging has remained optimistic and consistently high in many Asia-Pacific countries due to increased disposable consumer income, urbanization, and the consumption of cosmetics and other fast-growing consumer goods.
Due to the dominance of the food and beverage industries in the region, especially in China, which accounts for the largest share of the rigid plastic packaging market in the Asia Pacific region, the Asia Pacific market is projected to record the fastest growth over the forecast period. The demand for North America is behind the Asia Pacific market in terms of market share and is followed by the market for Western Europe.