Rigid Packaging Market Size, Share and Industry Analysis Report, Regional Outlook, Application Development Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2190
Global rigid packaging market size is expanding with an increased focus on providing more reliable, and eco-friendly packaging materials across various industries. Product manufacturers and consumers are pitching for the development of sustainable products and alternatives with biodegradable elements.
Rigid packaging products include materials like glass containers, plastic, metal and bioplastic. The products have attributes such as high stiffness, high impact strength, high barrier and are suitable for transportation. These benefits can be an invaluable service to brands, ensuring compliance and provide robust advertising space on a shelf. Consumers are reflecting on the disposable habits and usage of plastic items. Brands and retailers are improving sustainable practices to boost waste-free options, which in turn, will stimulate the global rigid packaging market outlook.
A soaring number of manufacturers are making a strategic move to adopt metal at the expense of plastic packaging. Rigid packaging market share from the metal cans segment will observe considerable growth. The food and beverage sector, especially, will witness a noticeable trend owing to metal can’s cost-effective nature. Aluminum cans have become one of the most recycled beverage packages as companies gear to bolster their eco-credentials. Aluminum has become immensely popular, thanks to the durability and high strength it offers.
PET rigid packaging has become a preferred packaging material for it is recloseable, recyclable, lightweight, shatterproof and reusable nature. PET bottles and other packaging products have gained considerable traction across the food & beverage sector.
Amcor designed what it calls the lightest 900-ml PET bottle for edible oil in Brazil in November 2020. The container is custom-designed for food producers and agribusiness and will complement the sustainable quotient, while also increasing productivity. The company stated that the lightweight container reduces raw material usage by around 4.4 tons of material per year.
The food & beverage industry in North America has become one of the major recipients of rigid packaging products mainly with an increasing inclination for read-to-eat food and consumption of snacks. A dramatic surge in food retail outlets will complement the growth of fast-moving consumer goods (FMCG) and food processing industries, driving North America rigid packaging industry outlook. Packaging manufacturers will witness rapid gains from the processed food industry as they strive to contribute toward smart packaging systems to boost long-term storage and streamline safe food supply.
Some of the key manufacturers of rigid packaging in the world are as BASF, Reynolds Group Holding, The Dow Chemical Company, Holmen AB, Georgia-Pacific LLC, MeadWestvaco Corporation, Bemis Company, and Silgan Holding, Consolidated Container Company and Berry Plastics. Industry participants are expected to bolster innovative and effective rigid packaging portfolio and emphasize high-growth segments such as pharmaceuticals and food & beverage sectors.
These companies are likely to partner with other companies or involve in acquisitions to boost their market position and consumer base. They are expected to further investments in customized rigid plastic packaging as well as bolster sustainability. For instance, Dow collaborated with Mura Technology in April 2021 to propel the recycling process, preventing plastic from entering the environment. They are focusing on recycled plastic products that will be ideal for use in food-contact packaging. Advanced recycling processes may save around 1.5 tons of CO2 per ton of plastic recycled.
Impact of COVID-19 on the growth of rigid packaging market
The influence of the coronavirus pandemic on the rigid packaging industry will be mixed—demand for packaging for healthcare products, groceries and e-commerce will surge. Meanwhile, demand for luxury, B2B transport packaging and industrial products may have reduced. The influence on the packaging companies will largely depend on exposures to various regions. Packaging for e-commerce shipments will prove to be a silver lining, with healthcare rigid packaging poised to gain traction.
Demand for packaging used in dietary supplements or essential supplies consumers will potentially surge in the next few years. Consumers are changing their buying behaviors in the wake of the crisis. Rigid packaging market players will seek to prepare for a situation under which SMEs will focus on food safety and hygiene amidst the pandemic. Sustainability will reemerge as a portfolio of competitive advantage.
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