Global Rigid Plastic Packaging Market Report and Forecast 2023-2028

Global Rigid Plastic Packaging Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global rigid plastic packaging market reached a value of USD 204 billion in 2022. Aided by the rapid urbanisation, growing retail sector, and the need for durable and efficient packaging solutions, the market is projected to further grow at a CAGR of 4.46% between 2023 and 2028 to reach a value of USD 259.1 billion by 2028.

Rigid plastic packaging, as the name suggests, pertains to non-flexible plastic packaging solutions. This packaging form stands in stark contrast to the flexible plastic packaging variants and includes products such as bottles, jars, pots, cans, and containers made primarily of polymers like PET, PVC, and PP. These materials offer significant advantages such as lightweight, durability, and resistance to chemicals, making rigid plastic packaging an increasingly favoured choice for various industries, especially the food and beverage sector.

A crucial driver of the rigid plastic packaging market growth is the global shift towards convenience-oriented lifestyles. With urban living becoming the norm and hectic schedules taking the lead, consumers are leaning more towards products that are easy to handle, store, and transport. Rigid plastic packaging, known for its sturdy structure, offers the ideal solution, ensuring product safety while also providing an appealing aesthetic on store shelves.

Moreover, the inherent properties of rigid plastics, such as their barrier against moisture, oxygen, and other contaminants, make them the packaging of choice for perishable items. The pharmaceutical industry, too, has seen a surge in demand for rigid plastic containers, given the critical requirement to protect medications from environmental adversities.

Technological advancements in the sector have also played a pivotal role in shaping the rigid plastic packaging market outlook. Innovations in packaging designs, combined with the integration of smart technologies, have led to the emergence of smart and interactive packaging solutions. These not only enhance the user experience but also assist in brand differentiation, providing a competitive edge in a saturated market.

However, with global environmental concerns mounting, the rigid plastic packaging sector has not remained untouched by the sustainability challenge. The environmental footprint left behind by non-biodegradable plastics is significant. In response to this, the industry is making concerted efforts to incorporate sustainable practices. The focus has shifted to developing biodegradable plastics and promoting recycling to reduce the carbon footprint. The advent of bio-based rigid plastics presents a crucial rigid plastic packaging market expansion prospect in the coming years, offering a sustainable yet efficient solution.

Furthermore, regulatory bodies worldwide are imposing stricter norms on plastic usage, urging the industry to adopt green and sustainable alternatives. This has paved the way for innovations in bioplastics and increased investments in recycling infrastructure.

Market Segmentation

The market can be divided based on material, production process, end-user industry, and region.

Market Breakup by Material

• Polyethylene Terephthalate (PET)
• Polypropylene (PP)
• High-Density Polyethylene (HDPE)

Market Breakup by Production Process

• Extrusion
• Injection Moulding
• Blow Moulding
• Thermoforming

Market Breakup by End-User Industry

• Food and Beverage
• Personal Care
• Household
• Healthcare
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global rigid plastic packaging companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• ALPLA
• Amcor plc
• Berry Global, Inc
• DS Smith plc
• Klöckner Pentaplast
• Plastipak Holdings, INC.
• Pactiv Evergreen Inc.
• Sealed Air
• Silgan Holdings Inc.
• Sonoco Products Company
• Graham Packaging Company
• Consolidated Container Company
• Reynolds Group Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.