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| Rigid Packaging Market |
The global Rigid Packaging Market is estimated to be valued at US$ 740355.23 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The rigid packaging market involves packaging materials and containers that
maintain their shape and do not deform on application of external pressure.
Rigid packaging materials include glass, metal, plastic, wood, and paperboard.
These materials provide protective barriers against environmental factors and
ensure product safety during transportation and storage.
Market key trends:
One of the key trends driving growth in the rigid packaging market is
increasing demand for lightweight and sustainable packaging solutions. Rigid
packaging manufacturers are focusing on developing innovative packaging designs
using thinner gauges and lighter weight materials like high-barrier plastics to
reduce the package weight without compromising on protection. This is not only
beneficial from an environmental perspective by reducing material consumption
and carbon footprint but also helps lower transportation and storage costs.
Furthermore, demand for technologically advanced packaging with features like
tamper evidence and ease of use is escalating market expansion.
Segment Analysis
The rigid packaging market is segmented by material into plastics, metal, glass
and others. Plastics segment dominates the market and accounted for over 45% of
the global rigid packaging market share in 2023. Plastics provide advantages
such as shatter resistance, durability, lightweight and moisture resistance
over traditional materials such as glass and metal. Within plastics, PET and
HDPE are widely used for rigid packaging of various products ranging from food
& beverages to pharmaceuticals.
Key Takeaways
The global Rigid
Packaging Market Share is
expected to witness high growth, exhibiting a CAGR of 3.3% over the forecast period, due to increasing demand for
packaged foods and beverages globally. Rapid urbanization and changing
lifestyles are fueling the growth of ready-to-eat food products necessitating
rigid packaging.
Regional analysis - Asia Pacific dominated the global rigid packaging market in
2023 and is expected to grow at the fastest rate during the forecast period.
This can be attributed to the rapid growth of end-use industries such as food,
beverages and pharmaceuticals in the region supported by strong economic
development and increasing disposable incomes.
Key players analysis - Key players operating in the rigid packaging market are
Amcor Limited, DS Smith Plc., Holmen AB, Plastipak Holding, Berry Plastics
Corporation, Reynolds Group Holdings Limited, Sealed Air Corporation, Resilux
NV, Sonoco Products Company, and Silgan Holdings. These players are focusing on
new product development and capacity expansion strategies to strengthening
their presence across major markets.
Read More,
https://www.insightprobing.com/rigid-packaging-market-trends-size-and-share-analysis/
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