Global Rigid Packaging Market Driven by Increasing Demand for Packaged Food, to Reach US$750 bn by 2021
Transparency Market Research (TMR) has announced the release of a new market intelligence study to add to its extensive database on the consumer goods sector. The report examines the global rigid packaging market in order to provide pointers regarding the expected trajectory of the global market in the coming years. The report is titled ‘Rigid Packaging Market - Global Industry Analysis, Size, Share, Growth and Forecast 2015 - 2021’ and is available for sale on TMR’s official website.
Browse the full Rigid Packaging Market - Global Industry Analysis, Size, Share, Growth and Forecast 2015 - 2021 report at https://www.transparencymarketresearch.com/rigid-packaging-market.html
Rigid packaging is used to store and transport a wide variety of consumer goods and fresh produce. Rigid packaging is more durable than flexible packaging, which can increase the shelf life of the product in question. The increasing demand for packaged food has been a major driver for the global rigid packaging market in the last few years, as increasing urbanization has created the need for food that lasts long and can be prepared in minimal time. The rampant urbanization in developing countries means this is expected to be a major driver for the market in the coming years as well.
According to the TMR report, the global rigid packaging market is expected to exhibit a steady 4.5% CAGR between 2015 and 2021. Should TMR’s estimations hold true, the global rigid packaging market will rise in valuation from close to US$550 bn in 2014 to more than US$750 bn by 2021.
Of the various materials used to produce rigid packaging, plastics accounted for a dominant 41.2% share in the global rigid packaging market. The low costs and high durability of plastics, which can also be molded into practically any shape and are impervious to water, heat, and minor physical damage, has led to the dominance of plastics in the global rigid packaging market. Other materials used in rigid packaging include metal, glass, wood, and paperboard.
The dominance of plastics in the global rigid packaging market has been put under threat in recent years by the increasing awareness about their environmental hazards. The increasing demand for environmentally viable materials has seen paper packaging receive increasing demand. However, the development of bioplastics could alter the dynamics of the global rigid packaging market in the coming years.
The food and beverage industry is the major end user of rigid packaging. Plastic packaging is commonly used in the food and beverages industry due to its efficient barrier effect against moisture and other environmental contaminants at relatively low costs. Soft drinks, water, juices, frozen food, and fresh produce are all increasingly being sold in plastic packaging to increase their shelf life.
In terms of geography, Asia Pacific held the dominant share in the global rigid packaging market in 2014. The expansion of super/hypermarkets in Asia Pacific is a major driver for the Asia Pacific rigid packaging market, as is the increasing demand from the ecommerce sector in countries such as China and India. Asia Pacific is expected to retain its dominance in the global rigid packaging market in the coming years due to the increasing demand for packaged food.
Key players profiled in the report include Tetra Pak International, Georgia-Pacific Corporation, Crown Holdings, Inc., Ball Corporation, Holmen AB, Reynolds Group Holdings Ltd., and Berry Plastics Corporation.
The global rigid packaging market is segmented as follows:
Global rigid packaging market, by raw material type
- Others (wood, timber, pulp, paper pellets, etc)
Global rigid packaging market, by application type
- Food and beverage
- Durable goods (home appliances, furniture, firearms, and toys etc)
- Cosmetics and toiletries
- Industrial Packaging (automotive equipments, consumer electronics, sports equipment, foot wear boxes etc)
- Others (stationer products, jewellery boxes, etc)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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