Rigid Plastic Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Rigid Plastic Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Rigid Plastic Packaging Market

The Rigid Plastic Packaging market size was valued at USD 265 billion in 2023, and the market is now projected to grow from USD 277 billion in 2024 to USD 386 billion by 2032, exhibiting a CAGR of 4.87% during the forecast period of 2024-2032.

An unforeseen circumstance of the COVID-19 havoc widely affected the worldwide market in a negative way which conversely impacted the rigid plastic packaging market growth. The major obstacle for all businesses, counting bundling, was the shutdown of manufacturing units and stores and the deficiency of crude materials. The widespread emphatically affected the pharmaceutical industry as there was expanding request for solutions and antibodies. The inflexible plastic bundling helped securely transport delicate medical gear, customer products, and medications. The nourishment & refreshment industry experienced direct development as retail stores were permitted to open for the essential products.

Packaging plays a crucial role in taking care of the products amid transportation until they reach the conclusion client. Consolidating innovations in packaging, such as QR Codes, RFID, and sensors, improves its execution. Smart bundling offers amplified highlights to the packages and leads to benefits for clients and producers. Integration of these advances helps in controlling the temperature of the bundle and gives data almost the interior environment of the items, hence amplifying the product's rack life.

Plastic is considered to be a hazardous and non-environmental-friendly material. The governments of numerous countries have prohibited the utilize of plastic or prompted to control its utilization and center on cleaner and low impact packaging fabric. Development within the advances and selection of recyclable fabric is one of the essential variables contributing to market development.

Comprehensive Analysis of Rigid Plastic Packaging Market

The structure of the rigid plastic packaging market on the bifurcation of material is sectioned as Polyvinyl chloride (PVC), Polyethylene terephthalate (PET), Polyethylene (PE), Polypropylene (PP) and many others. On the reference of product type analysis, the market arena is structured into clamshell, bottles and jars, drums, trays and pallets, caps and closures, IBC’s and other sorts of product among all these mentioned product type segments the Bottles and jars held the most leading position. On the reference of application basis, the market further is partitioned into home care, food and beverage, personal care and cosmetics, pharmaceuticals, industrial and many more applications.

The Asia Pacific territory was governed to hold the maximum revenue share for over USD 96.72 billion in the calculate timeframe. Asia Pacific is the driving region and held the biggest inflexible rigid plastic packaging market share in the calculated timeframe. The rising request for nourishment & refreshment items in China and India is driving the development of this continent.

The worldwide unbending plastic packaging industry is profoundly divided and competitive. With respect to advertise share, the few major players rule the showcase by advertising imaginative bundling within the bundling industry. They are always centering on extending their client base over the locales by unused item dispatches and technological innovations. Major players within the market incorporate Amcor Plc (Switzerland), Greif Inc. (U.S.), Berry Global (U.S.), Time Technoplast Ltd. (India), Silgan Holdings (U.S.), Schütz GmbH & Co. KGaA (Germany), Sonoco Product Company (U.S.), Klöckner Pentaplast (U.K.), Mauser Packaging Solutions (U.S.), Schoeller Allibert Services B.V. (The Netherlands) and others. Various other players working within the industry are centered on conveying progressed packaging arrangements.

In between the month of February 2023, the Berry Global company presented child-resistant and tamper-evident PET bottles for pharmaceutical syrups and fluid medications. The run of bottles incorporates 28mm neck PET bottles in sizes from 20ml to 1,000ml with different plans. These bottles are an alluring elective to glass bundling.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 4.87% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Material

Polyethylene (PE)

High density polyethylene (HDPE)

Low-density polyethylene (LDPE)

Polyethylene terephthalate (PET)

Polypropylene (PP)

Polyvinyl Chloride (PVC)

Others

By Product Type

Bottles & Jars

Containers

Trays & Pallets

IBC's

Clamshell

Drums

Caps & Closures

Others

By Application

Food & Beverage

Pharmaceutical

Personal Care & Cosmetics

Home Care

Industrial

Others

By Region

North America (By Material, By Product Type, By Application, and By Country)

U.S. (By Application)

Canada (By Application)

Europe (By Material, By Product Type, By Application, and By Country)

Germany (By Application)

U.K. (By Application)

France (By Application)

Italy (By Application)

Spain (By Application)

Russia (By Application)

Poland (By Application)

Romania (By Application)

Rest of Europe (By Application)

Asia Pacific (By Material, By Product Type, By Application, and By Country)

China (By Application)

India (By Application)

Japan (By Application)

Australia (By Application)

South Korea (By Application)

Southeast Asia (By Application)

Rest of Asia Pacific (By Application)

Latin America (By Material, By Product Type, By Application, and By Country)

Brazil (By Application)

Mexico (By Application)

Argentina (By Application)

Rest of Latin America (By Application)

Middle East & Africa (By Material, By Product Type, By Application, and By Country)

Saudi Arabia (By Application)

U.A.E. (By Application)

Oman (By Application)

South Africa (By Application)

Rest of the Middle East and Africa (By Application)


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