HOME › Research Insight › The Growth of Rigid Plastic Packaging Market was Largely Influenced by Mergers & Acquisitions and New Product Launches in the Last Five Years
The Growth of Rigid Plastic Packaging Market was Largely Influenced by Mergers & Acquisitions and New Product Launches in the Last Five Years
The rigid plastic packaging market is growing rapidly in accordance with the growth in the packaging market, globally. Factors such as cost-effectiveness and growth in demand for food & beverage packaging products have largely contributed to the growth of the rigid plastic packaging market. This market is classified on the basis of type, material, production process, application, and region. It has experienced continuous progress with regard to technological advances and innovations in the packaging industry. According to MarketsandMarkets, the global market for rigid plastic packaging, in terms of value, is projected to reach USD 262.68 Billion by 2021, at a CAGR of 5.71%.
The growth of rigid plastic packaging was largely influenced by mergers & acquisitions and new product launches in the last five years. The year 2015 experienced a large number of mergers & acquisitions by top players in the market. New product launches also formed an essential part of their strategies, which led to their growth in the emerging markets. The key players include companies such as Amcor Limited (Australia), Bemis Company, Inc. (U.S.), RPC Group Plc (U.K.), Berry Plastics Corporation (U.S.), and Reynolds Group Holdings (New Zealand).
Amcor Limited (Australia) held the leading position in the global rigid plastic packaging market in 2015. The company has maintained its leadership position through its strong distribution network across
Asia-Pacific, Europe, the Americas, and emerging markets. Amcor Limited is among the leading manufacturers of rigid plastic packaging for many of the markets it serves. It adopted mergers & acquisitions as its key strategy to capture the market. In July 2015, Amcor acquired Plastic Moulders Limited (Canada) for USD 30 million. Plastic Moulders was a rigid plastics company and this acquisition was expected to generate considerable synergies, in terms of procurement and manufacturing costs. This acquisition of Plastic Moulders expanded Amcor’s business horizon in Canada, increased its local talent pool, and widened its product portfolio.
RPC Group Plc (U.K.) is a global provider of innovative and sustainable packaging solutions. It manufactures and delivers a broad range of plastic packaging products. RPC Group Plc adopted mergers & acquisitions to gain a competitive advantage in the market. In March 2016, RPC Group acquired Global Closure Systems (France), a plastic closures manufacturer. This helped RPC Group to gain new customers, better serve its existing ones, and expand its footprint in France by offering extensive range of complementary closures and dispensing solutions.
Rigid Plastic Packaging Market by Raw Material (PE, PET, PP, PVC, EPS, PS, Bioplastics), Type (Bottles & jars, Trays, Tubs, Cups & Pots), Production Process (Extrusion, Injection Molding), Application, and Region - Global Forecast to 2021
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India