IMARC Group, a leading market research company, has recently releases report titled “Rigid Plastic Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global rigid plastic packaging market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Rigid Plastic Packaging Market?
The global rigid plastic packaging market size reached US$ 229.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 309.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
What are Rigid Plastic Packaging?
Rigid plastic packaging represents the utilization of plastic materials, including polypropylene (PP), highly-density polyethylene (HDPE), polyethylene (PET), etc., for packaging new bottles and containers. It is sturdier, heavier, and stronger than flexible packaging. Consequently, rigid plastic packaging is extensively used for wrapping fragile food items that need enhanced protection. These products have recyclable plastic containers with open tops and separate closures, lids, or covers that are usually viewed as nestable food containers. In line with this, rigid plastic packaging offers various benefits, including low cost and longevity. Consequently, it finds wide-ranging applications in several industries, such as food and beverage (F&B), healthcare, agriculture, automotive, personal care, etc.
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What are the growth prospects and trends in the rigid plastic packaging industry?
The increasing utilization of packaged goods and the expanding e-commerce industry are primarily driving the rigid plastic packaging market. Furthermore, the widespread adoption of plastic packaging for the protection of medicines from contamination is also positively influencing the global market.
Apart from this, the growing consumer awareness towards biodegradable plastic packaging is acting as another significant growth-inducing factor. Moreover, the implementation of stringent regulations by government bodies across countries regarding product safety standards, the rising number of construction activities, and the inflating disposable income levels of individuals, are further catalyzing the market growth.
Besides this, the escalating demand for flexible packaging in the nutraceutical sector and extensive investments in R&D activities by leading manufacturers are augmenting the global market. Additionally, continuous technological advancements in the automotive industry are anticipated to fuel the rigid plastic packaging market over the forecasted period.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Bottles and Jars
- Trays and Containers
- Caps and Closures
Breakup by Material:
- Polyethylene (PET)
- Polypropylene (PP)
- High Density Polypropylene (HDPE)
Breakup by Production Process:
- Injection Molding
- Blow Molding
Breakup by End Use Industry:
- Food and Beverages
- Personal Care and Cosmetics
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Altium Packaging LLC
- Amcor plc
- Berry Global Inc.
- DS Smith plc
- Graham Packaging Company
- Pactiv Evergreen Inc.
- Plastipak Holdings Inc.
- Saudi Basic Industries Corporation (Saudi Arabian Oil Company)
- Silgan Holdings Inc.
- Sonoco Products Company
- Winpak Ltd.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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