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The Rigid Plastic Packaging Market size is estimated to grow at a CAGR of 5.24% between 2022 and 2027. The market size is forecast to increase by USD 60.86 billion. The growth of the market depends on several factors such as the rising demand for rigid plastic packaging from the food and beverage industry, the growing consumption of packaged beverages, and the increasing demand for rigid plastic packaging from the healthcare industry.
This rigid plastic packaging 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). 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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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 rigid plastic packaging 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.
However, pharmaceutical packaging demand is mainly driven by increased contract manufacturing and the aging population in the APAC region. Therefore, the rising demand for boxes, clamshells, blisters, bottles, containers, ampoules, and vials will drive the growth of the global rigid plastic packaging market during the forecast period.
The use of fiber-based material for packaging is a key trend in rigid plastic packaging. Sustainability is an important consideration for both packaging 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 packaging 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 for packaging, which, in turn, can affect the global rigid plastic packaging market during the forecast period.
The high cost of recycling rigid plastic products is a major challenge faced by the rigid plastic packaging 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 global rigid plastic packaging market.
The market research 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 Rigid Plastic Packaging 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 bottling 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 global rigid plastic packaging 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 rigid plastic packaging 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 for rigid plastic packaging in the region during the forecast period.
The COVID-19 pandemic in 2020 negatively affected the growth of the market in APAC. However, the easing of lockdowns and large-scale vaccination drives in different countries in APAC and the emphasis on resuming the operations of other businesses in end-user industries, such as food processing, from Q3 2021 led to the gradual growth of the regional rigid plastic packaging market. The demand for rigid plastic packaging in the region is further enhanced by the increased demand for household products, food, and beverages. Therefore, the growth of the regional rigid plastic packaging market will propel during the forecast period.
The rigid plastic packaging 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.
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Rigid Plastic Packaging Market Scope |
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Report Coverage |
Details |
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Page number |
176 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.24% |
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Market growth 2023-2027 |
USD 60.86 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.02 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 43% |
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Key countries |
US, China, India, Germany, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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Market dynamics |
Parent market analysis, 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. |
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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. |
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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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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