Dallas, Texas, May 25, 2021 (GLOBE NEWSWIRE) -- The “Rigid Plastic Packaging Market by Type (Polyethylene Terephthalate, Polypropylene (PP), High-Density Polyethylene (HDPE) and Others), Application (Food and Beverages, Personal care, Household, and Healthcare, and Others), and by Region, Global Forecast, 2018 to 2028” study provides an elaborative view of historic, present and forecasted market estimates.
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The rigid plastic packaging market size by value will grow and reach USD 340. 4 billion by 2026. In line with the growth patterns of the conversion and packaging sectors, the demand is rising. The global rigid plastic packaging market has been led by factors such as increased demand for fresh food & beverages, home & personal care products, and pharmaceutical industries; and expansion in the retail industry.
Rigid plastic packaging only requires the use of plastic material, as the name suggests; it has a relatively inflexible form or shape. 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, reinforced plastic wrapping keeps the items stable for a long time. In addition, changing habits and increasing customer spending on branded products are factors attributable to the estimated growth of the global demand for rigid plastic packaging over the forecast era. There has been an increase in demand for recyclable goods due to increasing environmental issues, thereby paving the way for different recycling infrastructures for plastics, which in turn is driving the development of the rigid plastic packaging industry. In various sectors, such as food & drink, pharmaceuticals, and personal care, among others, rigid plastic packaging is used.
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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 are among the key market players profiled in the rigid plastic packaging market report.
Key strategies such as company growth and product creation have been implemented by the major players operating in the global rigid plastic packaging market to improve their market outreach and maintain stiff competition in the market.
For example, Amcor launched a new packaging innovation centre in Albany, Ohio, U.S., in September 2019. The Innovation Center is supported by technical designers and specialists to work on new product concepts related to rigid plastic products for home and personal care. Similarly, in August 2019, for the Age Salzburg craft beer brand in Brazil, Amcor created a new range of polyethylene terephthalate (PET) bottles. For the current recycling methods, the new bottle promises 4 months of shelf life and 100 percent recycling. The bottle has a glass-like appearance and has a crown of metal.
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The report further analyses the various aspects of the multinational rigid plastic packaging industry in an analysis of the market supply chain. In addition, the research analysis uses many productivity elements for industry limitations, important sector dynamics and opportunities. The study further promotes a thorough industry evaluation of profiling firms and local and global vendor competitiveness.
There is a heavy competition between the already existing and new companies in the rigid plastic packaging industry. Furthermore, through the development of mergers and acquisitions, arrangements, sales of other firms and new startups, alliances and the advancement of corporate life, liner players explore potential avenues to compete with other players in the industry.
Increasing spending in services is projected to have a negative effect on demand in developing countries, including Germany and France. It is anticipated that the positive outlook for China and India's manufacturing sectors will play a crucial role in advancing demand growth for smart rigid plastic packaging, in view of regulatory support to draw domestic investment.
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Major Points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Rigid Plastic Packaging Market by Type
Chapter 6 Rigid Plastic Packaging Market by Region
Chapter 7 Competitive Landscape
Chapter 8 Company Profiles
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