The global rigid plastic packaging market is projected to reach USD 250.2 billion by 2026, at an estimated CAGR of 4.7% during the forecast period. The market is expected to witness significant growth in the future due to its multiple applications in end-use industries such as beverage, food, and healthcare. The global rigid plastic packaging market is driven by factors such as strong demand in major Asia-Pacific markets such as India and China and increasing demand from food & beverage packaging industries.
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.
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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.
The rigid plastic packaging market is dominated by major players 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). These players have adopted growth strategies, such as acquisitions and new product developments to further expand their presence in the global rigid plastic packaging market.
Amcor Plc (Amcor) is a provider of packaging solutions. It offers plastic, fiber, metal, and glass packaging products such as pet bottles, plastic bottles and jars, capsules and closures, specialty folding cartons, free films, bags and pouches, wrappers, rigid containers, laminates, and flow packs. The company’s products find application in various industries such as food and beverage, including spirits and wine, confectionery, fresh produce, pet food, coffee, and dairy packaging. It also serves medical-device, healthcare, pharmaceutical, and personal care and home product markets. The company has its presence in Western Europe, Asia-Pacific, North America, and Oceania. Amcor is headquartered in Warmley, Bristol, the UK.
Berry Global Group Inc. (Berry Global) is a manufacturer of plastic consumer packaging, nonwoven specialty materials, and engineered materials. Its product portfolio includes stretch and shrink films; institutional can liners; plastic drink cups and lids; closures and overcaps; Polyvinyl Chloride (PVC) films; bottle and prescription vials; food and consumer films; tape products; and components for baby diapers, and other absorbent hygiene products. The company offers its products under various brands such as Agribon, Agryl, Novagryl, Chicopee, Color Scents, Polyken, and Qubic. Berry Global serves food service, healthcare, personal care, household, hygiene, industrial, transportation, and food and beverage sectors. The company has operations in the US, Canada, Europe, and Rest of the World.
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