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The Rigid Plastic Packaging Market size is estimated to grow by USD 60.86 billion at a CAGR of 5.24% between 2022 and 2027. The market's expansion hinges on several factors, including the increasing need for rigid plastic packaging in the food and beverage sector, the rising consumption of packaged drinks, and the growing demand for such packaging in healthcare. These trends are driven by factors such as the convenience and durability of rigid plastic packaging, as well as its ability to protect products from external elements. Additionally, the shift towards sustainable solutions is also influencing market growth, with a focus on recyclable and eco-friendly materials. As these industries continue to grow, the demand is expected to rise, driving further market expansion in the future.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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This market report extensively covers market segmentation by type (bottles, containers, caps and closures, and others), end-user (food, healthcare, cosmetic and toiletries, beverages, and industrial), and geography (APAC, Europe, North America, Middle East and Africa, and South America).
Rigid plastic packaging is prevalent in various industries like agriculture, aerospace, and consumer goods. Common materials include polypropylene (PP), high-density polyethylene (HDPE), and polyethylene terephthalate (PET). Recycling rates are increasing, benefiting from processes like extrusion, injection molding, blow molding, and thermoforming. In the household industry, rigid plastic is used for fruit jars, juice containers, and sun care products. It's also prominent in skin care, oral care, perfume, body care, ornamental cosmetics, and hair care packaging. The market serves the needs of juices, alcoholic beverages, non-alcoholic beverages, and cosmetics and toiletries. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing demand for rigid plastic packaging from the healthcare industry is driving growth in the market. The healthcare industry's growth spurs demand for rigid plastic packaging that protects medicines from contamination. Also, packaging used for medical products must be compliant with international regulatory standards for safety.
The demand for pharmaceutical packaging is indeed driven by factors such as increased contract manufacturing and the aging population in the APAC region. This demand has implications for materials and processes, including the use of high-density polyethylene (HDPE), injection molding, thermoforming, particularly in sectors like skin care and oral care. Therefore, the rising demand for boxes, clamshells, blisters, bottles, containers, ampoules, and vials will drive the growth of the market during the forecast period.
The use of fiber-based material for packaging is a key trend in the market. Sustainability is an important consideration for both companies and consumers. The impact of non-recyclable materials on the environment encouraged enterprises in this industry to opt for materials that can be recycled easily and comply with national and international environmental protection guidelines.
Moreover, fiber-based materials are one of the most suitable forms of sustainable material. The paper fiber-based materials used in this product are easily recyclable, allowing enterprises to comply with various countries' regulations. Hence, these features will lead to an increase in the adoption of fiber-based materials, which, in turn, can affect the market during the forecast period.
The high cost of recycling rigid plastic products is a major challenge faced by the market. Recycling rigid plastic containers requires high capital due to procurement, energy, and scrap costs. The recycling of rigid plastic products such as bottles involves various steps such as a collection of the package after use, paying the scrap amount to the customer, transporting it to the recycling unit, cleaning, and crushing.
Recycling plastic involves using large amounts of water, and crushing and melting processes require energy and workforce involvement. The recycling of rigid plastic products is costlier than manufacturing them. Most manufacturing units producing rigid plastic packaging only use new plastics. Therefore, the recycling of plastics will incur an additional cost to the manufacturers, which is a major challenge for the market.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Albea Services SAS- The company offers rigid plastic packaging products such as lipstick shells, mascara bottles and brushes, and skincare jars and bottles.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The bottles segment is estimated to witness significant growth during the forecast period. Most of these bottles are made from polyethylene terephthalate (PET), though other materials such as HDPE, polypropylene plastic (PP), and Medium-density polyethylene (MDPE) are also used. They can be molded into various shapes and sizes to package anything from creams to insecticides.
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The bottles segment was the largest segment and was valued at USD 76.91 billion in 2017. The increase in demand for bottles made of rigid plastic is supported by the pharmaceutical and healthcare industry for packing sensitive fluid medication. There will be an increase in demand for rigid plastic bottles due to these factors, which, in turn, will drive the growth of the market during the forecast period.
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APAC is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in APAC is expected to grow due to the increase in demand for household care products and food and beverages. Various retailers in the food and beverage industry in the region are discontinuing the use of single-use plastic bags and focusing on rigid plastic packaging. The demand for beauty and personal care products in the region is driving the market growth. Enterprises in this industry are introducing new cosmetic products, resulting in increased demand for rigid plastic packaging. Hence, the growth in demand for beauty and personal care products will increase the demand in the region during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Rigid plastic packaging made from polyethylene terephthalate (PET) is widely used in various industries, including agriculture, medical, personal care, and pharmaceuticals. Consumer preferences are shifting towards eco-friendly packaging, driving the demand for recycling technologies. This trend is evident in the use of PET for fruit juice containers, food package containers, and foodie bags. Rigid plastic is also utilized in cycle wheels and electronics switches. The market faces challenges from stringent government regulations but benefits from the growth in e-commerce sales and online retail, emphasizing product safety and customizable packaging. Other materials like expanded polystyrene (EPS) are also used for food packaging containers, gastronomic bags, and bicycle wheels.
Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.24% |
Market growth 2023-2027 |
USD 60.86 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.02 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 43% |
Key countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Albea Services SAS, ALPLA Werke Alwin Lehner, Altium Packaging, Amcor Plc, Berry Global Inc., Crown Holdings Inc., DS Smith Plc, Graham Packaging Co. LP, Jabil Inc., KP Holding GmbH and Co. KG, Lacerta Group Inc., Nampak Ltd., Pactiv Evergreen Inc., Plastipak Holdings Inc., Sealed Air Corp., Silgan Holdings Inc., Sonoco Products Co., Tetra Laval SA, Hitech Corp. Ltd., and CKS Packaging Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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