Rigid Plastic Packaging Market is projected to reach USD 262.5 billion by 2027 Globally, at a CAGR of 4.7%, says MarketsandMarkets™

Chicago, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The global Rigid Plastic Packaging Market is projected to grow from  USD 207.8 billion in 2022 to USD 262.5 billion by 2027, at a CAGR of 4.7%  between 2022 and 2027, as per the recent study by MarketsandMarkets™. The growth of the Rigid plastic packaging market is attributed towards growing of food, beverages, healthcare, cosmetics, Industrial and others. Rigid plastic packaging is widely used in the food & beverage industries as it increases the shelf life of the products, thus preventing food loss. The market for rigid plastic packaging in the healthcare segment is also projected to grow at a high rate, owing to the increase in consumption of pharmaceutical products due to the aging population and growth in incidence rates of chronic diseases. Rigid plastic packaging offers aesthetic appeal and durability to the product, which increases its marketability; hence, it is used in the cosmetics & toiletries industry.

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203 - Market Data Tables
52 – Figures
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List of Key Players in Rigid Plastic Packaging Market:

1. Amcor (Switzerland)
2. SIG Berry Global Group Inc. (US)
3. Pactiv LLC (US)
4. Silgan Holdings (US)
5. Sonoco Products Company (US)
6. DS Smith Plc (UK)
7. ALPLA(Austria)
8. Takween Advanced Industries (Saudi Arabia)
9. SABIC.( (Saudi Arabia))
10. Al Jabri Plastic Factory (UAE)
11. Nuplas Industries Ltd. (UAE)
12. Altium Packaging LP (US)
13. Plastipak Holdings, Inc. (US)

Drivers, Restraints, Opportunities and Challenges in Rigid Plastic Packaging Market:

1. Drivers: Strong demand from the food & beverage packaging
2. Restraints: Fierce competition from flexible plastic packaging
3. Challenges: Recycling and environmental concerns
4. Opportunity: Change in demographic trends

Key Findings of the Study:

1. Tube, Cups and Pots to be the fastest growing type in Rigid Plastic Packaging during forecast period
2. Healthcare is to be the 3rd largest markets share segment in the Rigid Plastic Packaging Market during the forecast period
3. By raw material, Polyethylene Terephthalate (PET) to be the 3rd largest share in the Rigid Plastic Packaging Market during the forecast period
4. By Production Process, Blow Molding is to be the fastest growing in Rigid Plastic Packaging market during forecast period
5. North America to be the 3rd largest share in the Rigid plastic packaging market  during the forecast period

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Tube, Cups and Pots to be the fastest growing type in Rigid Plastic Packaging during forecast period

Rigid plastic tubs, cups, and pots are used in the food service and retail industry to package anything from cream and dips to insecticides. Cups are precision thermoformed, which are sealed using a heat sealable flexible lid. These cups generally have flat edges for perfect seals. Some rigid cups also have rolled rims. These products are generally used to pack dairy products such as cream, yogurt, and dairy desserts. The segment is projected to witness the highest growth rate as a result of the growing demand for single-serve packs and properties such as cost-effectiveness, portion control, and less environmental impact.

Healthcare is to be the 3rd largest markets share segment in the Rigid Plastic Packaging Market during the forecast period

Healthcare products, which include pharmaceutical and medical products, are required to be protected from light, moisture, contamination, physical damage, or anything that can alter the quality of the products. The packaging quality of healthcare products plays a vital role in ensuring their protection. It involves the manufacture of a wide range of packaging materials such as paper, paperboard, cardboard, and rigid plastic packaging material. The growth in rigid plastic packaging is estimated to continue in global medication consumption, which is expected to be significantly driven by the aging demographic, leading to the increasing number of diseases and disorders. This will increase the demand for pharmaceutical products, which will further support the growth in rigid plastic packaging.

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By raw material, Polyethylene Terephthalate (PET) to be the 3rd largest share in the Rigid Plastic Packaging Market during the forecast period

Polyethylene Terephthalate (PET) is a general-purpose thermoplastic polymer that belongs to the polyester family of polymers. Polyester resins are known for their excellent combination of properties such as mechanical, thermal, chemical resistance as well as dimensional stability attributes include superior transparency equal to that of glass, high mechanical strength, high rigidity at lower wall thickness, high flexibility, and high puncture resistance. These attributes enable the production of dimensionally stable rigid packaging with relatively small wall thickness and excellent oxygen barrier qualities, which make it suitable for packaging fresh foodstuffs. The application of polyethylene terephthalate takes place in industries such as food packaging, pharmaceutical packaging, box making, and electronics.

By Production Process, Blow Molding is to be the fastest growing in Rigid Plastic Packaging market during forecast period

Injection blow molding is used for the production of hollow plastic quantities. Products such as small medical and single-serving bottles are prepared using injection blow molding. Extrusion blow molding can be used to process different polymers such as polyethylene and polyvinyl chloride. Stretch blow molding applications include jars, bottles, and similar containers because it produces items of excellent visual and dimensional quality compared to extrusion blow molding. Many of the same materials used in blow molding are also good choices for injection molding, including HDPE, PS, PU, PP, and LDPE. There is a range of additional materials that are more uniquely suited for the solid products produced with injection molding. HDPE is the most commonly blow-molded plastic

material. It is used in a vast array of products, including bottles for consumer liquids such as shampoos and motor oils, coolers, play structures, fuel tanks, industrial drums, and carrying cases.

North America to be the 3rd largest share in the Rigid plastic packaging market during the forecast period

The rigid plastic packaging market in North America is expected to grow steadily during the forecast period. The market in this region is driven by technological advancements in the packaging industry. The demand for rigid plastic packaging will also be driven by factors such as increasing sales of consumer durables, high disposable income, and increasing demand for packaged foods. The US held a major share of the North American rigid plastic packaging market The rigid plastic packaging market in the US is mature and is expected to progress with a steady growth rate, mainly due to increasing sales of consumer durables in the country. As rigid plastic packaging finds application in consumer durables, the increasing demand for consumer durables will drive the market for rigid plastic packaging in the US. The growth in the rigid plastic packaging market in the US will be supported by the increased spending on healthcare products, as the healthcare industry is one of the largest consumers of rigid plastic packaging. This will boost the demand for pharmaceutical and medical products, further supporting the growth in the packaging industry.

Rising food production levels highlight the need for rigid plastic packaging. Moreover, the improvement of the US economy and the rising disposable income will increase the consumption level in the country, further supporting the growth of the rigid plastic packaging market. The growing trend of retail shopping is also responsible for the increasing demand for rigid plastic packaging in the US.

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