Rigid Plastic Packaging Market worth USD 281,619.9 million by 2030

The Market Statsville Group (MSG) publishes the new report on the "Rigid Plastic Packaging Market by Material (PP, PET, HDPE, and Others), by End-Users (Food and Beverage, Personal Care, Household, Healthcare, and Others), by Region – Global Share and Forecast to 2030". The global rigid plastic packaging market size is expected to grow from USD 192,070.0 million in 2021 to USD 281,619.9 million by 2030, at a CAGR of 4.9% during the forecast period. The consumer-packaged-goods industry has witnessed significant growth over the past quarter-century. Growth in the CPG industry is mainly driven by developing markets due to consumer expenditure growth. The consumer goods sector includes a wide range of retail and wholesale products, such as food, clothing, luxury items, and electronics. Instead of their busy lifestyles, consumers seek packaging that is easy to use and can be conveniently transported. Although the goods consumers purchase varies under different economic conditions, the packaged consumer goods sector is estimated to grow due to consumer expenditures. Consumer goods is a highly fragmented industry where product differentiation and packaging play a key role; with the growth in the consumer goods sector, rigid packaging is also expected to grow.

Global Rigid Plastic Packaging Market Segmentation

The rigid plastic packaging market has been segmented into material, end-users, and region.

• By Material (PP, PET, HDPE, and Others)
• By End-Users (Food and Beverage, Personal Care, Household, Healthcare, and Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Food & beverage, by end-users, is estimated to hold the largest market share during the forecast period

By end-users, the global rigid plastic packaging market is segmented into— food & beverage, personal care, household, healthcare, and others. In 2021, Food and Beverage had the largest market revenue, with a market share of 55.8%.  The demand for food packaging has increased globally, with some developed markets reaching a maturity stage. In emerging countries, opportunities still exist for rigid plastic packaging in fresh produce and ready meals.

In the food & beverage segment, packaging innovation plays a key role in gaining a competitive advantage for retailers and product manufacturers who seek to promote and differentiate their brands. Rigid plastic packaging has gained importance in the food & beverage industry as it provides a long shelf life for packaged food items. The food & beverage industry uses rigid packaging containers such as aerosol containers, ampules, cans, bottles, and jars. When compared with other packaging types, rigid plastic packaging containers provide unique benefits such as high barrier properties, stiffness, and impact strength, which has, in recent times, led to the expansion of the rigid plastic packaging market.

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The Asia Pacific accounts for the largest market share in the rigid plastic packaging market 2021

Based on the regions, the global rigid plastic packaging market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, Asia Pacific accounted for the highest market share of 36.9% in the global rigid plastic packaging market and was anticipated to maintain its dominance throughout the forecast period. Emerging countries largely drive the global rigid packaging market in Asia-Pacific, such as China, India, Vietnam, Australia, Indonesia, and others. The rigid plastic packaging consumption in several countries in the Asia-Pacific has remained positive and reliably strong due to increased consumer disposable income, urbanization, and the rise in consumption of cosmetics and other fast-moving consumer goods.

In 2018, the Asia-Pacific contributed more than 50% in plastic production, with China's 29 % share. However, China barred the import of plastic for recycling would negatively affect the growth of the rigid plastic packaging market. Furthermore, the increasing e-commerce sector in the region is also one of the prime reasons for growth in Asia-Pacific. The growing adoption of rigid plastic packaging in the food & beverage industry offers growth opportunities for the market in the future.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the rigid plastic packaging market. It also consists of leading companies such as Berry Plastics Corporation, DS Smith Plc, Amcor Limited, ALPLA-Werke Alwin Lehner GmbH & Co KG, Klöckner Pentaplast, RPC Group Plc, Silgan Holdings, Inc., Plastipak Holdings, Inc., Reynolds Group Holdings, and Sonoco Products Company. These market players have focused on acquisitions and expansion to gain a larger market share in the rigid plastic packaging market.

Browse complete report: https://www.marketstatsville.com/rigid-plastic-packaging-market

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