The global rigid plastic packaging market was valued at US$ 179 Billion in 2018, according to Rigid Plastic Packaging Market Report, by Material Type (Polyethylene(PE), Polyethylene Terephthalate(PET), Polystyrene(PS), Polypropylene(PP), Polyvinyl Chloride(PVC), Bio Plastics and Others), by Product Type (Bottles & Jars, Containers, Trays, Caps & Closures, Tubs, Cups & pots, and Others), by End-use Industry (Food & Beverage, Healthcare, Personal Care & Cosmetics, Industrial, Consumer Goods, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa).
The global rigid plastic packaging market is expected to reach US$ 300 Billion by 2027, exhibiting a CAGR of 5.9% during the forecast period. The growing healthcare industry is fueling growth of the rigid plastic packaging market. According to India Brand Equity Foundation, the Indian healthcare sector is expected to grow at a CAGR of 22% during 2016 - 2022 and is expected to reach US$ 372 billion by 2022. Rigid plastic packaging helps protect medical products and pharmaceuticals from moisture contamination, physical damage, and sun light. However, stringent regulation imposed by many countries on packaging is expected to restrain growth of the rigid plastic packaging market.
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https://www.coherentmarketinsights.com/market-insight/rigid-plastic-packaging-market-2581
Browse 60 market data tables* and 50 figures* on "Rigid Plastic Packaging Market” - Global forecast to 2027.
Key Trends and Analysis of the Rigid Plastic Packaging Market:
- Among material type, polyethylene terephthalate (PET) segment accounted for the largest market share in 2018 in the global rigid plastic packaging market. Polyethylene terephthalate is a light weight and strong plastic, and mostly used for packaging in the food and beverage industry, especially soft drinks, juices and water. It is also used in packaging of personal care products and consumer goods. PET is approved by the US FDA as safe for contact with food and beverages.
- Among product type, bottles & jars segment was the fastest growing in rigid plastic packaging market in 2018. Increasing urbanization and rising disposable income of consumers in emerging economies has led to growth of the retail industry and increased consumption of packaged food & beverage products, which in turn is expected to drive growth of the bottle & jars segment in rigid plastic packaging market. According to National Bureau of Statistics of China, China’s per capita disposable income was US$ 4104 in 2018, showing a growth of 8.7% from last year.
Key Takeaways of the Market:
- Asia Pacific accounted for the largest market share of 34% in 2018 in the global rigid plastic packaging market. Growth of various end-use industries such as healthcare, industrial, personal care, and others backed by the large population is expected to boost growth of the rigid plastic packaging market in the region during the forecast period.
- Key players in the rigid plastic packaging market are focusing on enhancing their product portfolio. For instance, in January 2019, Amcor Limited, a packaging company manufacturing rigid containers, launched a new PET jar for Danone. The new container is durable and sustainable, which will be used for Danone’s yogurt packaging.
- Furthermore, many players are adopting different strategies to expand their global footprint. In 2017, Silgan Holdings, Inc. acquired WestRock Company’s specialty closures and dispensing system business. WestRock’s business unit offers triggers, sprayers, pumps, and dispensing closure solutions to leading consumer good product companies. The acquisition will help Silgan Holdings expand its product portfolio in dispensing systems category.
- Major players operating in the global rigid plastic packaging market include Bemis Company, Inc., Amcor Limited, Silgan Holdings, Inc., Winpak Ltd., 3M Company, ALPLA, Berry Global Inc., RPC Group Plc., Anchor Packaging Inc., Coveris Holdings S.A., E-S Plastic Products, LLC and Plastipak Holdings, Inc.
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