Rigid Packaging Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2190
Rigid Packaging Market size may grow significantly owing to strong application scope in food & beverage, pharmaceutical, durable goods, and electronics industries. Rising packaged, frozen and processed foods consumption may drive product demand. Key properties include high stiffness, high barrier properties, heat resistance and high impact strength.
Plastic dominates rigid packaging market and is valued at over USD 230 billion in 2015 and accounted for a larger chunk of the demand of the total market share due to low cost, firmness, light weight and durability. Increasing environmental concerns regarding carbon emission should promote bioplastics as upcoming material which may drive industry growth.
Metal cans should register fastest gains in rigid packaging market over the foreseeable future. Rise in packaged and canned food consumption owing to increasing working demographics may drive industry growth. It offers long shelf life, durability, recyclability and cost effective advantages beneficial for economic food packaging solutions. Glass material have limited usage due to heavy weight and fragile nature.
Increasing application scope of in electronic industry for better packaging and ease of transportation without compromising product quality may drive rigid packaging market size.
Food & beverage application occupied a sizable portion of the market size. Shift in consumer preference towards ready-to-eat food with improved shelf life and better quality along with positive outlook towards beverage industry may favor product demand.
Global pharmaceutical packaging industry was valued at over USD 60 billion in 2015 and may exceed USD 95 billion with gains at over 9% by 2024. Investments in research leading to new product developments and innovative manufacturing techniques accompanied with increasing geriatric population may fuel product demand. Increase in self-administered drug therapies promote use of patient - friendly packaging system, ensuring drug efficacy along with accurate dosage and safety should favor market growth demand.
Global cosmetics packaging market generated over 25 billion in 2015 and may surpass USD 35 billion with gains at over 4.5%. Rising per-capita disposable income leading to increase in consumer willingness to spend on well packed products accompanied with consumer inclination towards bio based products may drive rigid packaging market size.
Stringent regulatory norms by FDA, CFSAN and NEPA regarding food and pharmaceuticals packaging promotes use of moisture resistant, high quality materials remaining consistent even after contact with food & drugs may stimulate product demand. Favorable environmental guidelines led by EPA emphasizes on use of antimicrobial technology in the packaging to prevent the growth of microbes in the product thereby surging rigid packaging demand.
Asia Pacific, driven by India, Japan and China rigid packaging industry size may grow significantly over the forecast timeframe. Positive outlook towards pharmaceutical and food & beverage industry may drive regional growth. Increasing population along with market penetration in electronics industry may contribute towards regional growth.
North America, led by U.S rigid packaging market size may register gains owing to increasing environmental concerns has led to rise in bioplastics demand to reduce carbon footprints should stimulate regional growth. Increasing spending on medicines accompanied by carbonated drinks demand may drive product demand.
Europe, led by UK, France, and Germany market may witness steady growth over the forecast period. Increasing demand for plastic packaging in food, soft drinks and dairy products packaging may drive regional growth.
Polyethylene, polyethylene terephthalate (PET), polypropylene, and polyvinyl chloride (PVC) are key raw materials used for production process. Fluctuating raw material costs may hamper supply and affect market price trend.
Global rigid packaging Industry share is highly fragmented. Prominent companies operating in this industry includes Amcor, The Dow Chemical Company, BASF SE, MeadWestvaco Corporation, Holmen AB, Georgia-Pacific LLC, Reynolds Group Holding, Bemis Company.
Other industrial participants include Berry Plastics, Silgan Holding, Consolidated Container Company and Ball Corporation. In July 2015, Bemis Company Inc acquired Emplal Participaceos S.A, South American rigid plastics business which fortified its position in the South American market share.
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