Global Rigid Packaging Market: Snapshot
Rigid packaging is an important as of the overall packaging market. It is extensively used for protecting various types of products from physical shocks and damage. The excellent durability of rigid packaging is the primary reason why is it used for packing volatile and highly reactive products along with other types of products. The global rigid packaging market is estimated to be worth US$166.8 bn by the end of 2024 as compared to US$589 bn in 2016. Over the forecast years of 2016 and 2024, the global market is likely to register a CAGR of 3.2%. Rigid packaging is known for being robust form of packaging which can adhere significant amount of load and insulate a reactive product from the external environment without contaminating the product.
Applications where flexible packaging fails to compete with the rigid packaging such as liquid packaging, chemical packaging, bulk packaging, heavy duty packaging, secondary packaging is the key driver for the rigid packaging market. Expansion of the geographic customer base of the companies is increasing the global trade and the need for protecting the goods during shipping is generating the demand for rigid packaging market. Materials such as metal, glass, paper & paperboard used in rigid packaging are reusable and recyclable and together they contribute for over 60% of the rigid packaging market.
Paper and Paperboard Segment Paces Ahead as Demand for Paper for Packaging Spikes
On the basis of material, the global rigid packaging market is segmented into plastic, metal, wood, glass, and paper and paperboard. Of these, plastic and paper and paperboard segment are expected to account for the 70% of the rigid packaging market by material type. Increased consumption of tobacco products and the use of glass for alcoholic beverage packaging is expected to boost the rigid packaging market. Furthermore, paper and paperboard are manufactured in varying grades to match the required standards, which is also expected to favor market growth.
Rigid packaging is predominantly used in industries such as food and beverage, consumer goods, healthcare and pharmaceuticals, chemical and petrochemical industries and other industries. Out of these, the food and beverage is expected to account for over 1/3rd of the rigid packaging market while exhibiting a CAGR of 3.6% over the forecast period. China is the largest consumer for soft drinks hence is expected to contribute largest value share for bottles and jars segment.
Asia Pacific to Lead Global Rigid Packaging Market
From a geographic point of view, Asia Pacific region is anticipated to lead the rigid packaging market and is estimated to rise at a CAGR of 3.8% over the forecast period. Europe is expected to follow the APAC region in terms of value. On the other hand, MEA is expected to be the smallest but second most attractive market over the forecast period. North America is the third largest consumer for rigid packaging market. However, the region is seeing significant shift from the rigid packaging to flexible packaging. Latin America is expected to contribute only more than the MEA region over the forecast period.
Key Players for the rigid packaging market include Amcor Limited, Sealed Air Corp., Resilux NV, Bemis Company, Inc., Berry Plastic Group, Inc., Reynolds Group Holdings Ltd., Georgia-Pacific LLC, DS Smith Packaging Limited, Holmen AB ADR and Mondi Group.
Global Rigid Packaging Market: Overview
The global market for rigid packaging is expected to witness high growth in coming years as a reason for increasing demand for various products that require effective packaging. Rigid packaging is largely used to protect products from physical shock and damage. Moreover, they are vastly used for packing volatile and highly reactive products without damaging or contaminating the product. The significant use of rigid packaging is seen in areas where flexible packaging fails to provide effective solution such as while packing chemicals, liquids, bulk and heavy-duty packaging. The demand for rigid packaging has grown with increasing global trade and transportation from one place to another.
The global market for rigid packaging segment is based on material, product, applications, and region. Segmented on the basis of plastic, steel, glass, paper and paperboard, and wood. The material type glass, steel, paper and paperboard material can be recycled and reused, and it accounts to 60% of the total rigid packaging market. Moreover, growing intake of tobacco products and glasses used to consume alcoholic beverages have increased the demand for rigid packaging market in past few years.
The report consists of in-depth evaluation for the global rigid packaging market, which includes drivers, restraints, trends, and opportunities. To give a precise understanding of the market report also focuses on regional analysis and categories in which the market is divided. All the analysis presented in the report are based on accurate facts and figures.
Global Rigid Packaging Market: Trends and Opportunities
The global market for rigid packaging is projected to grow in the coming years, as there is significant rise in demand from the emerging economies especially from China and India. The growing demand from food and beverages industry has certainly boosted the demand for rigid packaging market. Moreover, changing lifestyle and trends among the urban population in various countries have also increased the demand for rigid packaging. Packaged food products to meet the requirements with changing lifestyle has also contributed to grow the market.
Global Rigid Packaging Market: Regional Outlook
The geographical lookout for the global rigid packaging market shows that the Asia pacific is projected to lead the market in coming years. The reason for the growth in Asia Pacific are the countries having high growth in industrial sector. Europe and Middle East and Africa are also considered as lucrative markets for the growth of rigid packaging market. North America also gives growth opportunity for the rigid packaging market, but due to the shift from rigid packaging to flexible packaging, other regions have made efforts to grow the rigid packaging market.
Global Rigid Packaging Market: Competitive Landscape
The competitive landscape for the global rigid packaging market is fragmented and is highly competitive vendor’s landscape. The big players are focusing on launching new products by adopting new strategies and through mergers and acquisitions taking place among the global players. Moreover, the players use new strategies to grow their customer base. Some of the global players in the rigid packaging market are Reynolds Group Holdings Ltd., Amcor Limited, Sealed Air Corp., Bemis Company, Inc., Resilux NV, Bemis Company, Berry Plastic Group, Inc., Holmen AB ADR and Mondi Group. The players are also focusing on emerging economies where there is high potential for industrial growth during the forecast tenure.
Market segmentation based on geography:
- North America
- South America
- Asia Pacific
- Middle East and Africa
This report gives access to decisive data, such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report include:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments