Asia-Pacific Rigid Plastic Packaging Market Outlook, 2027

Asia-Pacific Rigid Plastic Packaging Market Outlook, 2027

Rigid plastic has become one of the most important for packing of products like food and beverages, healthcare, Industrial and Cosmetics. In Asia-pacific it has huge market for these rigid plastic packaging. It also exports and supplies different products to other countries. Packaging is usually done for preventing of spoilage of goods and to keep safe. Rigid plastic is lightweight, durable and comfortable for packaging. Players are the focusing on product innovation and the launch of new products in this region. Rigid plastic packaging containers has unique benefits which has strength, high stiffness and high barrier properties. Asia-pacific has five region covered and those are China, India, Japan, South Korea and Australia.

According to the Outlook, “Asia-pacific Rigid Plastic Packaging Market Outlook, 2027” published by Bonafide Research, the rigid plastic packaging market is anticipated to grow at a 6.47% CAGR in terms of value during this forecasted period. Growing investment by major market players in the research and development of rigid plastic packaging has impacted the market growth. Rigid plastic have gained its market growth in every region Asia-pacific. Major of the companies are making these products for food and beverages. Food and beverages is in demand and consumers have become health conscious. They want packed food and beverages. This factor has fuelled the market growth across the region. Other sectors are healthcare and cosmetics, they have also huge demand. Market is expected to grow rapidly because there is continuous increase in consumption for everything by consumers.

Rigid plastic packaging has a variety of product type including bottles & Jars, Rigid bulk products, trays, tubs, cups and pots. In Asia-pacific the most demanded product is Bottles and jars. As of 2016, it was around more than 65% market share. Therefore it can be understood that people use bottles and jars for different purpose. Mostly it is used for food items. Rigid containers are usually hard. They all vary in degree, give physical protection to the food inside that is expensive and flexible packaging. Rigid not provided by flexible packaging. Most of the rigid containers are strong, because of the amount of material used in for production which is more bulk is also for transport for foods in which is packed in glass. Rigid by material type it is made of resins. Each material type has different purpose In use. The most demanded material type rigid plastic packaging is PE, PET, PP and HDPE. PE is used for small bottles and jars which can be Squeezable. They are used to store honey. PET is polyethylene terephthalate; it is used for bottles which contained carbonated drinks, oil. They are transparent, good barrier to oxygen and carbon dioxide and also good chemical resistance. An average person in country buys more than 183 PET bottles per year. Therefore, PET is in huge demand than other rigid material type. PP is polypropylene is used in tubs, cups and in foods. Bottles sued for foods that need hot filling such as fruit juices. HDPE is high density polyethylene; it is used for liquid and solid foods. Most commonly is bottles and jars. It has features of chemical resistance but poor barrier to oxygen and carbon dioxide. PVC is (polyvinyl chloride) and these are also demanded. It has uses for tubs with lids, trays for confectionary and meats. Bottles and jars for drinks, vinegar, cooking oils and strong with good and good stiffness. In Asia-pacific, China is the dominating for rigid plastic packaging.

Consumer spending is huge due to increase in population. Demand for rigid packaging is increasing day by day. China is known to be largest e-commerce market, surpassing India and other Asia-pacific countries. The trend for online shopping is increasing and customers are demanding for more rigid plastics. China is one of the leading nations where the e-commerce sector is expanding rapidly. Plastic is a profitable packaging material because of its low cost and high printability. Due to the performance benefits and sustainability, extrusion-based goods such as wraps & films, pouches, and bags are used in large by consumers and in industrial applications in the country. The intense penetration of organized retail across the country has also contributed significantly to the country's market growth. Polyethylene (PP) is a primary material for plastic packaging bags used in express delivery in the region. Companies in China like Amcor PLC have announced its partner with non-profit organization alliance to end plastic waste. This would also help in recycle of plastic and reuse.

India is also one of the emerging countries where the consumers spending are more and growing. It is also expected to grow and increase per capita income, surging sales through e-commerce and change in consumer perception. Rigid plastic is in huge demand which is used in for packaging of glass bottle and jars, cartoons and metals cans. In the food and beverage industry, rigid plastic packaging has high demand to ensure food safety and shelf life. In addition, due to rising healthcare spending, the healthcare industry, which is another major end-user of rigid plastic packaging, has seen strong growth in the last decade. Moisture resistance, tamper-proof caps, light and chemical resistance, and other properties of rigid plastic packaging are gaining traction in the healthcare sector. The Indian pharmaceutical market is growing at a double-digit rate. Pharmaceutical packaging is becoming an increasingly important component of the drug delivery system. Pharmaceutical companies are increasingly relying on packaging and labeling as a means of protecting and promoting their products, as well as increasing patient compliance and complying with new regulations. Plastics have also become increasingly important in pharmaceutical packaging due to properties such as moisture barrier, high dimensional stability, high impact strength, resistance to strain, low water absorption, transparency, heat and flame resistance, and so on. Therefore, these demand are also affecting the same for other countries like Japan, Australia, South Korea and other countries of Asia-pacific region.

Some of the recent development in Asia-pacific is, Amcor PLC designed a family of stock polyethylene terephthalate (PET) bottles that help co-packers meet the demanding requirements for e-commerce-ready packaging. Mondi, a global leader in packaging and paper, has added to its range of sustainable premium food and pet food packaging solutions with the launch of RetortPouch Recyclable. The new high-barrier pouch will replace complex multi-layer and unrecyclable packaging for a range of food and wet pet food products. Moist or semi-moist foods that are heat-treated in steam or hot water retort vessels to achieve commercial sterilization for shelf-stable foods require retort packaging.

Covid-19 Impact
During the COVID-19 pandemic, the production and manufacturing of rigid plastics packaging, primarily for the food and beverages, healthcare, cosmetics, paint and coatings industry and other industries, was devastated. As a result, many producers were forced to shut down their operations. As a result of the lockdown, both demand and supply in the rigid plastic market declined significantly, negatively impacting market growth in a short period.

Major Companies present in the market:
Berry Global Group, Inc., Silgan Holdings Inc., Saudi Basic Industries Corporation, Alpla Werke Alwin Lehner GmbH & Co KG, Mauser Packaging Solutions Holding Company, Sonoco Products Company, Amcor plc, Pactiv Evergreen Inc, Gerresheimer AG, Plastipak Holdings, Inc., Klöckner Pentaplast, Hitech Corporation , Regent Plast Private Limited

Considered in this report
• Geography: Asia-pacific
• Historic year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecasted year: 2027

Aspects covered in this report
• Asia-pacific Rigid plastic Market with its value and forecast along with its segments
• Country wise rigid plastic market analysis
• Application wise rigid plastic market distribution
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:
• China
• India
• South Korea
• Australia
• Japan

By application rigid plastic type in the report:
• Food and beverages
• Industrial
• Healthcare
• Cosmetics

Technical types of rigid plastic packaging in the report:
• PE
• PET
• PS
• PP
• PVC
• Bioplastics
• HDPE

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to solar panel coating industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.