The latest research study “Rigid Plastic Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global rigid plastic packaging market size reached US$ 229.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 309.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
Rigid plastic packaging refers to the use of plastic materials, including high-density polyethylene (HDPE), polypropylene (PP), and polyethylene terephthalate (PET), to pack new containers, thermoformed trays, clamshells, bottles, caps, and closures. These packaging items are manufactured by numerous processes, such as injection and blow molding, thermoforming, and extrusion. It is lightweight, economical, sturdier, durable, recyclable, and heavier, due to which it is used for packing fragile food products that need more protection. As a result, rigid plastic packaging is extensively adopted in the food and beverage (F&B), medical, automotive, personal care, aerospace, and agriculture sectors across the globe.
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Rigid Plastic Packaging Market Trends and Drivers:
The market is primarily driven by the significant growth in the food and beverage industry (F&B) and the increasing demand for food packaging containers, bags, jars, and bottles. In addition, the changing lifestyles and rising expenditure capacities of consumers, and growing demand for beverage products such as bottled water and alcoholic beverages are accelerating the adoption of rigid plastic packaging solutions across the globe.
Moreover, the widespread adoption of rigid plastic packaging in the healthcare sector to protect medicines from contamination represents another major growth-inducing factor. Besides this, the sudden outbreak of the coronavirus disease (COVID-19) has also augmented the demand for essential services, including healthcare and personal care products such as HDPE containers, pumps, and other products, providing a positive thrust to the market growth.
Furthermore, the increasing environmental awareness regarding biodegradable rigid plastic packaging, the growing e-commerce sector, and extensive research and development (R&D) activities are also creating a favorable market outlook across the globe.
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Global Rigid Plastic Packaging Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Rigid Plastic Packaging Companies:
ALPLA, Altium Packaging LLC, Amcor plc, Berry Global Inc., DS Smith plc, Graham Packaging Company, Pactiv Evergreen Inc., Plastipak Holdings Inc., Saudi Basic Industries Corporation (Saudi Arabian Oil Company), Silgan Holdings Inc., Sonoco Products Company and Winpak Ltd.
The report has segmented the market on the basis of product, material, production process and end use industry.
Breakup by Product:
- Bottles and Jars
- Trays and Containers
- Caps and Closures
- Others
Breakup by Material:
- Polyethylene (PET)
- Polypropylene (PP)
- High Density Polypropylene (HDPE)
- Others
Breakup by Production Process:
- Extrusion
- Injection Molding
- Blow Molding
- Thermoforming
- Others
Breakup by End Use Industry:
- Food and Beverages
- Personal Care and Cosmetics
- Household
- Healthcare
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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