Future of Rigid Plastic Packaging Market To See Unparalleled Surge in Industry at 5.6% of Growing CAGR, 2023

Market Research Future published a research report on “Rigid Plastic Packaging Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Global Rigid Plastic Packaging Market Information Report by Material (Bio plastics, Polyethylene Terephthalate (PET), Polyethylene (PE), Polyvinyl Chloride (PVC) and others), by Product (Bottles & jars, Trays, Tubs, Cups and others), by Manufacturing Process (Extrusion, Injection Molding, and others), by Application (Food & Beverages, Healthcare, Personal Care, Industrial Packaging and Others) and By Region – Global Forecast To 2023

 

Market Scenario

 

On the basis of regions, Global Rigid Plastic Packaging Market has been segmented as North America, Europe, Asia Pacific and Rest of the World (RoW). Asia Pacific dominates the global rigid plastic packaging market, followed by North America. It is expected to be the fastest growing region for the market. It comprises countries such as China, India, and Japan, which lead in the export of goods to various parts of the world. Growing industrialization and urbanization in developing countries such as China and India, provides a boost to the market. Additionally, the availability of raw materials and low labor cost, together form a positive influence on the market growth. China accounts for the largest share of the rigid plastic packaging market in the Asia Pacific region. North America is second largest region for the market. Increased consumption of beverages, fuels the growth of the market. Latin America and Middle-East & Africa regions are also expected to witness   high growth over the forecast period due to rising demand from the manufacturing and e-commerce sector. European region is expected to contribute significantly during the forecast period. 

The market is driven by various factors such as increased consumption of processed foods & beverages, and innovation in rigid packaging. The higher disposable income in these developing countries increases the purchasing power. However, rigid plastic packaging market has various restraints that hinder the market growth such as fluctuating raw material prices and Recycling and environmental concerns. Global rigid plastic packaging market is expected to grow at a CAGR of 5.6% during the forecast period.

 

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Global Rigid plastic packaging market has been segmented based on material, application and region. On the basis of material, the market is segmented as Bio plastics, Polyethylene Terephthalate (PET), Polyethylene (PE), Polyvinyl Chloride (PVC) and others. Polyethylene dominates the material segment of the market and is expected to be the fastest growing material segment. Majority of the end users use LDPE for rigid plastic packaging. It has numerous benefits such as ease of processing, barrier to moisture, strength/toughness, flexibility, and ease of sealing. PVC is a dense material. It is considered a common material in India, when clarity is an important selection criterion, particularly for consumer packaging. On the basis of manufacturing process, the market is segmented as Extrusion, Injection Molding, and others. Injection molding processes dominates the segment of the market. Injection molding is the most commonly used manufacturing process for the fabrication of plastic parts. It is used mainly due to factors such as faster production process, and low production waste. Extrusion is also another major manufacturing process. 

On the basis of application, the market has been segmented as Food & Beverages, Healthcare, Personal Care, Industrial Packaging and Others. Food & beverages dominates the application segment of the market and is expected to be the fastest growing application segment. Increasing population along with growing demand for food and beverages, drives the growth of the market.  On the basis of product, the market has been segmented as bottles & jars, trays, tubs, cups and others. Bottles & jars dominates the product segments of the market. Bottles are used to package many products, such as juices, water, carbonated soft drinks, food products, and others. Factors such as an expanding global population, increasing urbanization, and an increased demand for beverages and household care products, drive the demand of bottles and jars.

 

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The prominent players in the Rigid plastic packaging market include Amcor Limited (Australia), Bemis Company, Inc. (U.S.), RPC Group Plc (U.K.), Sealed Air Corporation (U.S.), ALPLA Werke Alwin Lehner GmbH & Co KG (Austria), Berry Plastics Corporation (U.S.), Coveris Holdings S.A. (Luxembourg), Reynolds Group Holdings (New Zealand), Plastipak Holdings, Inc. (U.S.), Silgan Holdings, Inc. (U.S.), Linpac Packaging Limited (U.K.), and Consolidated Container Company (U.S.).

The report for Global Carpet and rugs market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

 

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