Rigid Packaging Market, by Material Type (Plastic, Metal, Wood, Glass, Paper & Paperboard), by Application (Food & Beverage, Chemical Industry, Consumer Goods, Healthcare & Pharmaceuticals, Others), by Product Type (Boxes, Trays, Containers & Cans, Bottle & Jars, Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Packaging is a technology, which involves enclosing and protecting various types of products for storage, distribution, sales, and use. Increasing demand for healthy, safe and convenient food over the past few years in Asia Pacific, Europe and North America has been rapidly driving the global market for rigid packaging. Further, the use of polyethylene terephthalate (PET), as a packing material for food & beverages, pharmaceuticals, and household products, due to its strength, versatility and recyclability is expected to serve as a major driver for the rigid packaging market.
Market Dynamics
Plastics are one of the widely used materials for rigid packaging. Among material, paper and paperboard segment is gaining significant traction, owing to increasing demand for packaging materials that are eco-friendly. Manufacturing of paper from natural fibers of bleached and unbleached cellulose, or from recycled paper makes it completely recyclable, compostable, and biodegradable. Paper and paper-board packaging is an environment friendly alternative to use of packaging materials made of plastics. Some of the advantages of paper packaging material includes light in weight, durable, and the paper packaging material can easily be customized for aesthetics.
Asia Pacific is projected to dominate the global rigid packaging market in terms of value in the forecast period. High demand for rigid packaging products in the pharmaceutical industry in emerging economies such as India and China is one of the major factors driving demand for rigid packaging in the region. Increasing infant and geriatric population has led to the heightened demand for healthcare products. Moreover, affordable healthcare in countries such as Thailand and India has boosted medical tourism sector in the region.
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