Rigid Plastic Packaging Market by Type, Application (Food, Beverages, Healthcare, Cosmetics, Industrial), Raw Material (Bioplastics, PE, PET, PS, PP, PVC, EPs, PC, Polyamide), Production Process, And Region - Global Forecast to 2027
Updated on : February 03, 2023
Rigid Plastic Packaging Market Size
The global rigid plastic packaging market size was valued at USD 207.8 billion in 2022 and is projected to reach USD 262.5 billion by 2027, growing at a cagr 4.7% from 2022 to 2027. The market is growing due to its multiple applications in end-use industries such as beverage, food, and healthcare. It is driven by factors such as strong demand in major APAC markets (mainly India and China) and increasing demand from food & beverage packaging industries.
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Impact of COVID-19 on Rigid Plastic Packaging Market
The outbreak of COVID-19 affected the end-use industries of the rigid plastic packaging market across the globe. The impact can be felt on the economy with lockdowns and discontinuation of manufacturing operations due to social distancing norms. Decrease in the demand from end use industries impacted the rigid plastic packaging market across the globe.
Many companies have introduced short-term plans to keep their operations running amid the COVID-19 pandemic. The companies started selling their products through online platforms with contactless delivery.
Rigid Plastic Packaging Market Dynamics
Driver: Strong demand from the food & beverage packaging industry
The rigid plastic packaging market is witnessing an increase in demand from end-use industries such as food & beverages, cosmetics & toiletries, and healthcare. The food & beverage industry held a highest share in the packaging industry; growth in this industry highlights the growth potential for rigid plastics in packaging. The retail industry, which is currently witnessing a shift from unorganized to organized retail, will also stimulate the demand for rigid plastics in packaging material.
The beverage industry is a major consumer of rigid plastic packaging as it retains the quality and freshness of the product by sealing the contents within the container. Factors such as rising disposable income, change in consumer lifestyles, product presentation & differentiation, and rising demand for beverage products such as packed bottled water and alcoholic beverages will increase the consumption of rigid plastic packaging.
Restraint: Fierce competition from flexible plastic packaging
Flexible plastic packaging provides the biggest advantage for the manufacturer and retailer as it reduces the weight of packaging, which can result in reduced shipping and warehousing costs, thereby creating more space. For consumers, it provides convenience features such as single-serve portions, easy-open, easy-peel options, and the food tastes better in retort pouches than traditional tin cans. Flexible packaging is 40% less in terms of overall packaging cost, amounts to a 50% reduction in landfill waste and 62% reduction in Greenhouse Gas (GHG) emissions over rigid packaging. Hence, factors such as convenience, portability, cost savings, sustainability, and health benefits encourage product packaging manufacturers and packaging converters to move away from standard rigid materials to flexible materials.
Opportunity: Change in demographic trends
Demographic factors often have a much more complex effect on demand trends. In the packaging market, a great deal of attention has been devoted to ensuring that the demand from a particular demographic segment is met. Changing global demographic trends such as rising aging population as well as increasing middle-class population are also likely to support the demand for rigid plastic packaging. An increase in the global middle-class population will increase the consumption level of products such as beverages and packed food, which would directly drive the demand for rigid packaging in the coming years. According to the Asian Development Bank, “China’s middle-class population is estimated to increase by 83% in 2030.”
Challenge: Recycling and environmental concerns
According to the World Economic Forum, over 300 million tons of plastics are produced every year for use in a wide variety of applications. At least 8 million tons of plastics end up in our oceans every year and make up 80% of all marine debris from surface waters to deep-sea sediments. About 90% of all the trash in the ocean is from plastic. Estimates suggest that rigid plastic packaging represents the major share. According to the World Economic Forum, a study suggests that in Europe, around 53% of plastic packaging could be recycled economically and in an environmentally friendly manner.
Rigid Plastic Packaging Market: Ecosystem
The bottles & jars segment of accounted for the largest share of the rigid plastic packaging market during the forecast period
The rigid plastic bottles & jars market is projected to record moderate growth during the forecast period because of the flourishing retail industry, combined with the rise in disposable income of consumers. The increasing population, growing urbanization, and rising demand for beverages and home care products are fueling the market growth.
PET segment is the second largest market in rigid plastic packaging market by type of material
Polyethylene Terephthalate (PET) is a general-purpose thermoplastic polymer that belongs to the polyester family of polymers. Polyester resins are known for their excellent combination of properties such as mechanical, thermal, chemical resistance as well as dimensional stability.
The injection molding segment is projected to grow at the second-highest CAGR during the forecast period
Injection molding is a widely used process. Common injection molded packaging items include tubs, buckets, rigid tubes, screw caps, and fitments. An injection molder consists of a purpose-built extruder coupled with a clamping press that is fitted with an interchangeable mold. A common form of injection molder has a reciprocating screw extruder as the injection unit. The screw has a one-way valve or check ring at its tip.
APAC accounted for the major share of the Rigid plastic packaging market
The rigid plastic packaging market in APAC is forecast to record its highest CAGR, in terms of value, between 2022 and 2027. Such growth is due to growing developmental activities and rapid economic expansion. In addition to this, the growing population in these countries presents a huge customer base for FMCG products and consumer durables, which, in turn, is expected to lead to the growth of the rigid plastic packaging market.
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Key Players in Rigid Plastic Packaging Market
Berry Global Group Inc. (US), Amcor Plc (Switzerland), Takween Advanced Industries (Saudi Arabia), Silgan Holdings Inc. (US), Pactiv LLC (US), Sonoco Products (US), DS Smith Plc (UK), SABIC (Saudi Arabia), Al Jabri Plastic Factory (UAE) among others are some of the major players operating in the global market.
Rigid Plastic Packaging Market Report Scope
Value (USD Billion), and Volume (Tons)
Type, End Use Industry, Raw Material, Production Process and Region
North America, Europe, South America, APAC, Middle East & Africa.
The major players Amcor Ltd. (Switzerland), Berry Global Group Inc. (US), Pactiv LLC (US), Silgan Holdings Inc. (US), Sonoco Products Company (US), DS Smith Plc (UK), ALPLA (Austria), SABIC (Saudi Arabia), Al Jabri Plastic Factory (UAE), Takween Advanced Industries (Saudi Arabia) and others are covered in the Rigid plastic packaging market.
This research report categorizes the global rigid plastic packaging market on the basis of Type, Application, and Region.
Rigid plastic packaging market, By Type
- Bottles & Jars
- Rigid Bulk Products
- Tubs, Cups, and Pots
Rigid plastic packaging market, By End Use Industry
- Cosmetics & Toiletries
Rigid plastic packaging market, By Raw Material
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polystyrene (PS)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Expanded Polystyrene (EPs)
- Others (PC, Polyamide)
Rigid plastic packaging market, By Production Process
- Injection Molding
- Blow Molding
Rigid plastic packaging market, By Region
- North America
- Asia Pacific (APAC)
- South America
- Middle East & Africa
The market has been further analyzed for the key countries in each of these regions.
Recent Developments in Rigid Plastic Packaging Market
- In 2022 Amcor Plc Amcor's New Lightweighting Technology Introduces in a Quantum Leap for the Future of Packaging. More than 50% of the material in the finish is eliminated by a new two-step lightweighting technology. Bottles assist businesses in meeting sustainability goals while maintaining a premium appearance and feel.
- In 2022, Pactiv Inc. announced that Fabri-Kal, a top producer of foodservice and consumer brand packaging solutions, had been acquired by its wholly-owned subsidiary, Pactiv Evergreen Group Holdings Inc. Fabri-Kal’s products include portion cups, lids, clamshells, drink cups and yogurt containers for the consumer packaged goods and industrial food markets. Approximately half of Fabri-Kal’s sales are generated from fully compostable packaging products or fully recyclable packaging products.
Frequently Asked Questions (FAQ):
Does this report covers the new applications of rigid plastic packaging?
Yes the report covers the new applications of rigid plastic packaging.
Does this report cover the volume tables in addition to value tables?
Yes the report covers the market both in terms of volume as well as value
What is the current competitive landscape in the rigid plastic packaging market in terms of new applications, production, and sales?
The market has various large, medium, and small-scale players operating across the globe. Many players are constantly innovating and developing new products and expanding to developing countries where the demand is constantly growing; thereby boosting sales.
Which all countries are considered in the report?
China, Japan, and India are major countries considered in the report. .
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TABLE OF CONTENTS
This research involved the use of extensive secondary sources and databases, such as Factiva and Bloomberg, to identify and collect information useful for a technical and market-oriented study of the rigid plastic packaging market. Primary sources included industry experts from related industries and preferred suppliers, manufacturers, distributors, technologists, standards & certification organizations, and organizations related to all segments of the value chain of this industry. In-depth interviews have been conducted with various primary respondents, such as key industry participants, subject matter experts (SMEs), executives of key companies, and industry consultants, to obtain and verify critical qualitative and quantitative information as well as to assess growth prospects.
Rigid Plastic Packaging Market Secondary Research
In the secondary research process, various sources such as annual reports, press releases, and investor presentations of companies; white papers; and publications from recognized websites and databases have been referred to for identifying and collecting information. Secondary research has been used to obtain key information about the industry's supply chain, the total pool of key players, market classification and segmentation according to the industry trends to the bottom-most level, regional markets, and key developments from both market-and technology-oriented perspectives.
Rigid Plastic Packaging Market Primary Research
The rigid plastic packaging market comprises several stakeholders in the supply chain, which include suppliers, processors, and end-product manufacturers. Various primary sources from the supply and demand sides of the markets have been interviewed to obtain qualitative and quantitative information. The primary participants from the demand side include key opinion leaders, executives, vice presidents, and CEOs of companies in the rigid plastic packaging market. Primary sources from the supply side include associations and institutions involved in the rigid plastic packaging industry, key opinion leaders, and processing players.
Following is the breakdown of primary respondents—
To know about the assumptions considered for the study, download the pdf brochure
Rigid Plastic Packaging Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the size of the global rigid plastic packaging market. The research methodology used to estimate the market size includes the following:
- The key players in the industry were identified through extensive secondary research.
- The supply chain of the industry and market size, in terms of value, were determined through primary and secondary research.
- All percentage shares split, and breakdowns were determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research includes the study of reports, reviews, and newsletters of key industry players along with extensive interviews with key officials, such as directors and marketing executives.
Market Size Estimation: Bottom-Up Approach and Top-Down Approach
Rigid Plastic Packaging Market Data Triangulation
After arriving at the total market size from the estimation process explained above, the overall market was split into several segments and subsegments. To complete the overall market size estimation process and arrive at the exact statistics for all segments and subsegments, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data have been triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size has been validated by using both the top-down and bottom-up approaches.
Rigid Plastic Packaging Market Report Objectives
- To define, describe, and forecast the global rigid plastic packaging market in terms of value
- To provide insights regarding the significant factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To analyze and forecast the market based on type, region, and end-use application.
- To forecast the market size, in terms of value, with respect to five main regions: North America, Europe, South America, APAC, Middle East & Africa.
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape
- To strategically profile key players in the market
- To analyze competitive developments in the market, such as new product launches, capacity expansions, and mergers & acquisitions
- To strategically profile the leading players and comprehensively analyze their key developments in the market
Rigid Plastic Packaging Market Report Available Customizations
Along with the given market data, MarketsandMarkets offers customizations as per the specific needs of the companies. The following customization options are available for the report:
Rigid Plastic Packaging Market Product Analysis:
- Product Matrix which gives a detailed comparison of the product portfolio of each company
Rigid Plastic Packaging Market Regional Analysis
- Further breakdown of the Rest of the APAC Rigid plastic packaging market
- Further breakdown of the Rest of Europe’s Rigid plastic packaging market
Rigid Plastic Packaging Market Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in Rigid Plastic Packaging Market