New York, United States , Dec. 01, 2023 (GLOBE NEWSWIRE) -- The Global Rigid Plastic Packaging Systems Market Size to Grow from USD 270.3 Billion in 2022 to USD 434.7 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period.
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Rigid plastic packaging includes containers, boxes, bottles, and other forms of stiff or semi-rigid plastic packing. These materials are well known for their toughness, durability, and ability to protect things from harm, contamination, and outside effects. Rigid plastic packaging is extensively used in the food and beverage, pharmaceutical, personal care, electronics, and other industries. These packaging items can withstand impact and rough handling during storage and shipping thanks to their strength. Because it can be moulded into a number of shapes and sizes, rigid plastic packaging is great for a wide range of products. Some plastic materials are translucent or transparent, which is advantageous for marketing because it lets shoppers see the products within.
COVID 19 Impact
Food, beverages, cleaning products, and toiletries were among the packaged goods whose demand increased as a result of the pandemic. The rise in demand for basics led to an increase in the need for hard plastic packaging to make it easier to carry and store these products safely. With restrictions and lockdowns in place, e-commerce experienced a significant boost as more consumers started making their purchases online. Because it was effective at keeping items secure while in transit, rigid plastic packaging was increasingly employed to package goods sold through e-commerce platforms. Rigid plastic packaging had issues as a result of supply chain disruptions, just as many other industries. This inconvenience may have been caused by factory closings, road restrictions, or a shortage of raw materials.
Demand for rigid plastic packaging grew along with the consumer goods industries, particularly those for food and beverage, personal care, and household items. With increased disposable incomes and evolving consumer preferences, there was an increase in the demand for efficient and dependable packaging solutions. Urbanisation and shifting lifestyles have resulted in a rise in one-person dwellings and consumption while travelling. The need for single-serving and portable packaging choices made feasible by rigid plastics expanded as a result of this tendency. Manufacturers were investing money in research and development to create cutting edge package designs and technology. Resealable closures, portion control, and better barrier properties were among the features that contributed to the product's longer shelf life.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Rigid Plastic Packaging Systems Market Size, Share, and COVID-19 Impact By Raw Material (Bioplastics, Polyethylene), By Type (Bottles And Jars, Rigid Bulk Products), By Application (Food, Beverage, Healthcare), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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Polyethylene segment is dominating the market over the forecast period
On the basis of raw material, the global rigid plastic packaging market is segmented into Bioplastics, Polyethylene, Polyethylene Terephthalate, Polystyrene, and Others. Among these, polyethylene segment is dominating the market with the largest market share over the forecast period. The expansion of e-commerce has also had an impact on the need for polyethylene packaging. Due to its durability and ability to keep goods safe throughout shipment, it is a popular choice for packaging products that are sold online. Technological advances in polymer processing have increased the output and customizability of polyethylene packaging, which has assisted in the industry's ongoing growth. HDPE and LDPE are often used in the packaging of foods and beverages due to their superior barrier properties, resistance to moisture, and ability to maintain product freshness.
Rigid bulk products segment holds the highest market share over the forecast period
Based on type, the global rigid plastic packaging market is segmented into Food, Beverage, Healthcare, Cosmetics & toiletries, Industrial, and Others. Among these, the rigid bulk products segment holds the highest market share over the forecast period. Food, household supplies, and pet food are all examples of bulk goods that frequently require sturdy packaging for protection. Rigid plastic containers and packages make it simple to transport and package these kinds of goods. Rigid plastic packaging may be a financially viable choice for packaging bulk items when factors like production efficiency, material costs, and logistics of transport are taken into account. Consumer preferences for value-packaged and bulk purchases have an impact on the desire for larger packaging sizes. Rigid plastic containers can successfully satisfy these preferences.
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Asia Pacific is dominating the market over the forecast period
Among all other regions, the Asia Pacific is dominating the market with the largest market share over the forecast period. Some of the world's most populous countries are found in the Asia-Pacific region, which greatly raises demand for consumer goods. Given the importance of packaging in protecting and delivering goods to consumers, this requirement has a direct impact on the rigid plastic packaging business. Urbanisation in the Asia-Pacific region has altered consumer behaviour, and convenience meals and packaged items are growing in popularity. Rigid plastic packaging is a great choice for these changing consumption habits due to its simplicity and protection. The growth of e-commerce has had a substantial impact on the need for packaging in the Asia-Pacific region. Rigid plastic packaging is widely used to protect items during transit and delivery to satisfy the needs of e-commerce platforms.
North America witnessing the fastest market growth over the forecast period. The large and diverse population of North America greatly raises the demand for consumer goods like food, beverages, personal care products, and household goods. To meet this need, rigid plastic packaging is widely used because of its versatility and protective attributes. In North America, rigid plastic packaging is used extensively for food and beverage packaging. From beverage bottles and containers to food trays and clamshell containers, rigid plastic packaging is used extensively.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the Global Rigid Plastic Packaging Systems Market include Amcor Limited, Bemis Company, Inc., Tray Pack Corporation, Consolidated Container Company, Lacerta Group, Inc., Coveris Holdings S.A., Plastipak Holdings, Inc., Alpla Wereke, and Other Market Players.
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Recent Market Developments
In November 2020, The lightest 900 ml PET bottle for edible oil has been developed by Amcor and is now available in Brazil.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Rigid Plastic Packaging Systems Market based on the below-mentioned segments:
Rigid Plastic Packaging Systems Market, Raw Material Analysis
- Bioplastics
- Polyethylene
- Polyethylene
- Terephthalate
- Polystyrene
- Others
Rigid Plastic Packaging Systems Market, Type Analysis
- Food & Beverage
- Healthcare
- Cosmetics & toiletries
- Industrial
- Others
Rigid Plastic Packaging Systems Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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