Rigid Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Rigid Packaging Market
The Rigid Packaging market size was valued at USD 431.97 billion in 2023, and the market is now projected to grow from USD 452.93 billion in 2024 to USD 704.24 billion by 2032, exhibiting a CAGR of 5.67% during the forecast period of 2024-2032.
The COVID-19 widespread contrarily influenced the market. The unitability of labor and variances in raw material costs caused a gradual slowdown within the generation of packaging items. However, the need for pharmaceutical items has seen huge demand, and improvement within the e-commerce industry is anticipated to boost market development.
The developing natural concerns among producers and customers have boosted the demand for paper packaging solutions. The major players of unbending packaging center on paper-based substitutes owing to rising plastic waste and its dangerous natural impacts. The supportability trend centering on paper packaging is booming as a critical trend within the worldwide market. Government bodies and organizations in a few developed and creating economies have expanded their focus on the sustainable environment. With its huge quality and soundness, paper could be a favored material for making inflexible packaging products.
The expanding demand for rigid packaging products within the food and beverages industry drives the market development universally. The food & beverages industry could be a major consumer of solid packaging items due to its varied highlights such as quality, high barrier, and strength. This bundling is picking up footing in later a long time because it is impossible to influence the quality and flavor of food items. It too anticipates exposure to light and heat and is temperature tolerant, encourage holding the freshness of food products. Rising utilization of comfort, packaged, & ready-to-eat food items is expected to boost the market in the forthcoming years.
Comprehensive Analysis Of Rigid Packaging Market
Based on material, the market is portioned into plastic, metal, wood, paper & paperboard, and glass. Plastic materials hold the most elevated share of the worldwide market. Plastic bundling materials are broadly utilized to create resolute packaging items by producers all inclusive. Based on item sort, the market is sectioned into boxes, trays, containers & cans, bottles & jars, pallets, and others. Containers & cans section is the ruling portion of the worldwide market. Containers & cans are utilized on an expansive scale in a few end-use businesses such as food and beverages, household, and individual care owing to their flexible and recyclable properties. Based on end-use industry, the market is portioned into nourishment & refreshments, pharmaceuticals, individual care & cosmetics, electrical & hardware, household, e-commerce, and others. The food & beverages section is the driving end-use industry of the market. The expanding demand for packaged and handled nourishment items owing to the changing lifestyle patterns is the key factor driving the development of the nourishment and refreshment end-use industry.
Asia Pacific overwhelms the global rigid packaging market share stands out at a valuation of 190.24 billion USD. The quick extension of the food & beverage and pharmaceutical businesses drives the development of the advertise within the region. Rising economies, such as India and China, are expected to grow quickly over the forecast period.
The worldwide market is competitive and exceedingly divided. In terms of advertise share, many major unbending bundling players overwhelm the market by advertising inventive packaging. These players are continually centering on expanding their client base over districts. Some major players within the market include Graham Packaging Co. LP (U.S.), Ball Corporation (U.S.), Can Corporation of America Inc. (U.S.), Gerresheimer AG (Germany), KP Holding GmbH and Co. KG (Germany), ALPLA Werke Alwin Lehner (Austria), Amcor Plc (Australia), Ardagh Group SA (Luxembourg), Crown Holdings Inc. (U.S.), DS Smith Plc (U.K.).
In November 2022 theworld's leading sterilization packaging material producer, STERIMED, propelled an imaginative substrate, POLYBOND CGP 85, particularly for the necessities of clients. The dispatch could be a new expansion to a polymer-reinforced cellulose-based portfolio for the healthcare industry.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.67% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Material
Plastic
Metal
Wood
Paper & Paperboard
Glass
By Product Type
Boxes
Trays
Containers & Cans
Bottles & Jars
Pallets
Others
By End-use Industry
Food & Beverages
Pharmaceuticals
Personal Care & Cosmetics
Electrical & Electronics
Household
E-commerce
Others
By Region
North America (By Material, By Product Type, By End-use Industry, and Country)
- U.S. (By Material)
- Canada (By Material)
Europe (By Material, By Product Type, By End-use Industry, and Country)
- Germany (By Material)
- France (By Material)
- U.K. (By Material)
- Italy (By Material)
- Spain (By Material)
- Russia (By Material)
- Rest of Europe (By Material)
Asia Pacific (By Material, By Product Type, By End-use Industry, and Country)
- China (By Material)
- India (By Material)
- Japan (By Material)
- Australia (By Material)
- Southeast Asia (By Material)
- Rest of Asia Pacific (By Material)
Latin America (By Material, By Product Type, By End-use Industry, and Country)
- Brazil (By Material)
- Mexico (By Material)
- Rest of Latin America (By Material)
Middle East & Africa (By Material, By Product Type, By End-use Industry, and Country)
- GCC (By Material)
- South Africa (By Material)
- Rest of Middle East & Africa (By Material)
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