Rigid Packaging Market
Rigid Packaging Market (Material: Plastic, Metal, Wood, Glass, and Paper & Paperboard; Application: Food & Beverages, Chemical Industry, Consumer Goods, Healthcare & Pharmaceuticals, and Other Industries; and Product Type: Boxes, Trays, Containers & Cans, Bottles & Jars, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2024
Press Release :
Mounting Demand for Eco-friendly, Durable, and Robust Packaging Solutions to Boost Market Growth
The packaging sector has witnessed a considerable evolution over the past decade. Due to growing demand for sustainable packaging solutions to innovative and user-friendly packaging alternatives, the packaging sector is undergoing significant developments. Within the packaging industry, competition is expected to be intense between flexible packaging solutions and rigid packaging solutions. Flexible and rigid packaging are both deployed across an array of industrial domains, including food & beverages, consumer goods, healthcare & pharmaceuticals, and chemicals. Rigid packaging solutions include glass containers, plastic boxes, cans, and cardboards, which are increasingly being used to package food, cosmetics, and personal care products.
Although rigid packaging alternatives are marginally expensive and heavier than flexible packaging solutions, they offer improved protection from heat and other external factors, including moisture. Stakeholders in the rigid packaging market are increasingly focusing on the development of innovative rigid packaging solutions and product development. Due to the growing concerns over the use of single-use plastic, other grades of plastics are being utilized in the development of rigid plastic solutions. Due to the mounting demand for sustainable and eco-friendly rigid packaging solutions, glass, wood, and metal packaging alternatives are gaining popularity in the global rigid packaging market. The rigid packaging market is expected to reach a value of ~US$ 755 Bn by the end of 2024.
Request a sample to get extensive insights into the Rigid Packaging Market
Stakeholders Focus on Innovations and Customization
Due to growing consumer interest for flexible packaging solutions, players in the rigid packaging market are likely to focus on two major areas to stay relevant: innovations and customizations. At present, customization is a growing trend within the rigid packaging market and at the current rate, it is likely to remain a pivotal factor that is expected to drive the growth of the market for rigid packaging.
The use of plastic continues to garner significant attention and thus, production of rigid packaging solutions made from other materials has increased in the past few years. The growing popularity of flexible packaging solutions has played an imperative role in persuading players in the rigid packaging market to focus on the production of innovative packaging solutions that not only cater to regulations pertaining to re-usability and recyclability but also adhere to environmental regulations. Some of the other factors that are likely to impact the growth of the rigid packaging market during the forecast period include significant developments in technology, urbanization, and growing adoption of recyclable plastic in a range of end-use industries such as personal care & cosmetics, food & beverages, etc.
To understand how our report can bring difference to your business strategy, Ask for a brochure
Another factor that is anticipated to boost the demand for rigid packaging is the rising awareness related to food safety. Stakeholders in the food & beverages industry are eyeing efficient rigid packaging solutions to address these consumer concerns. Moreover, experts in the packaging domain are of the opinion that rigid packaging solutions will also play an important role in improving food supply and enhancing long-term storage. In their bid to improve their footprint in the current rigid packaging market, stakeholders are expected to tap plethora of opportunities presented by the market in Asia Pacific and Europe.
Focus on Recycling and Sustainability Intensifies Across Europe
On the regional front, Europe will remain the second most lucrative market for rigid packaging market after Asia Pacific. The introduction of the ‘Close the Glass Loop’ program by the European glass packaging industry is expected to provide an impetus to recycling rates of glass packaging across the region, and likely to reach around 90% during by 2030. The new EU rules to improve the overall recycling targets for glass packaging will play a key role in the adoption of sustainable and recyclable activities. The program, which is at a nascent stage, is projected to gain substantial traction during the forecast period. The objective of the program is to unite the various stakeholders in the rigid packaging market, particularly dealing with glass packaging solutions to boost the recycling collection rate. In addition, the growing demand for glass rigid packaging solutions is likely to play an imperative role in minimizing the dependency on natural resources for packaging.
Stuck in a neck-to-neck competition with other brands? Request a custom report on Rigid Packaging Market
The global rigid packaging market is expected to grow at a CAGR of ~3% during the forecast period. The growth of the market can be attributed to reliance on the adoption of new packaging materials, including glass, metal, and wood. The meteoric demand for sustainable packaging solutions is expected to propel the demand for rigid packaging solutions across a host of end-use industries worldwide. Asia Pacific and Europe are likely to emerge as key regions for the rigid packaging market. Stakeholders in the current market landscape should focus on product development, innovation, and deployment of sustainable materials.
Rigid Packaging Market: Overview
- According to Transparency Market Research’s latest report on the global rigid packaging market for the historical period of 2014-2018 and forecast period of 2019-2024, the market is anticipated to be driven by the increasing demand for packaging that offers aseptic, damage-free, or spill-free protection during transit. The global rigid packaging market is projected to expand 1.2x its current market value by the end of 2024.
Advantages of Using Rigid Packaging over Flexible Packaging to Propel Market Growth
- Rigid packaging encompasses boxes, trays, containers, cans, bottles, jars and many other formats. This type of packaging provides good support to vulnerable products when displayed on shelves. The rigid packaging market accounts for over 68% of the packaging market, and traditionally, rigid packaging was the most common format for packaging. In the last decade, flexible packaging gained traction rapidly. Packaging manufacturers preferred to use flexible packaging due to its technological advancements and ability to reduce the carbon footprint of the packaging.
- However, there are various applications where rigid packaging is essential, such as handling of products in bulk quantity, providing an isolated inert environment for the product storage, and shipment of goods safely over long distances from one part of the world to another. Moreover, use of rigid packaging ensures spill-proof packaging of liquid products, chemicals and minerals.
- Use of rigid packaging for bulk and heavy-duty packaging and secondary packaging are some of the major factors contributing to the growth of the rigid packaging market.
Growth in Value-added Manufacturing and Greater Spending on Packed Goods to Boost Demand for Rigid Packaging
- The global rigid packaging market is expected register a significant CAGR in the next decade. Advanced technology, increasing production capabilities, and increasing consumer spending on packed goods are factors contributing to the substantial growth of the rigid packaging market.
- As per TMR analysis, the food and beverage industries are expected to hold maximum market share during the forecast period of 2019-2024. End users show more preference for bottles and jars for the storage of liquid products such as cold drinks and sauces. Moreover, consistently increasing demand for rigid packaging is witnessed from the consumer goods industry.
- Most end users prefer rigid packaging over flexible packaging, as the latter requires special sealing and measuring equipment to prevent overfilling and bursting. Rigid packaging simplifies the storage and shipping of products as it offers easy stacking and has a low tendency of deformation.
Paper and Paperboard Material to Emerge as Preferred Material for Manufacturers of Rigid Packaging
- Rigid packaging is manufactured from denser and thick material. The paper& paperboard segment is expected to account for nearly 36% of the rigid packaging market, as this type of packaging is eco-friendly and easy to recycle.
- Plastic containers are expected to gain more traction during the forecast period, attributable to the easy customization and visual appeal of these containers. Moreover, these plastic containers are manufactured in accordance with regulations of the FDA for food contact materials, which makes them suitable for packaging various food products.
China to Dominate Global Market with High Production Capability
- TMR team analyzed the top five leading countries which generate prominent market share in 2018 (the U.S, China, Brazil, France, and GCC Countries) in its global rigid packaging market report. China is anticipated to be the leading market for rigid packaging.
- Key players made million-dollar investments for acquisitions and business expansion in the Asia Pacific region in the past year. Key players emphasized on business development, owing to the growth of the food and beverages and pharmaceuticals industries in the Asia Pacific region. The easy availability of resources and cost-effectiveness in manufacturing rigid packaging makes it profitable for key players to invest in the Asia Pacific region.
High Preference for Lightweight Flexible Packaging Hindering Growth of Rigid Packaging Market
- The shift from conventional rigid packaging to the new and advanced flexible form of packaging hampers the growth of the rigid packaging market. The volume of raw material required for manufacturing rigid packaging is substantially higher than that required for flexible packaging, which makes it an unattractive option for packaging manufacturers. Increasing consumer preference for lightweight and durable packaging is also supporting adoption of flexible packaging, which restricts growth of the rigid packaging market. However, concerns of regulatory authorities regarding lack of proper disposal of waste generated by flexible packaging can provide new opportunities for players in the rigid packaging market.
Global Rigid Packaging Market - Competition Landscape
- Amcor Limited, DS Smith Plc.,
- Holmen AB
- Georgia-Pacific LLC
- Berry Plastics Corporation
- Reynolds Group Holdings Limited
- Sealed Air Corporation
- RESILUX NV
- Mondi Group
are some of the key players of global rigid packaging market. Among these players, Reynolds Group Holdings Ltd., and Georgia-Pacific LLC hold a maximum market share in the global rigid packaging market. The intensity of competition is estimated to be high in the global rigid packaging market, attributable to the presence of small- and medium-sized manufacturers.
Rigid Packaging Market - Scope of the Report
Transparency Market Research (TMR) published a new report on the global rigid packaging market, providing forecast for the period of 2019-2024. In this report, growth opportunities for the rigid packaging market are analyzed. The report provides valuable insights, which will enable readers to make winning business decisions for the future growth of their businesses. The report highlights significant factors that are constantly determining the growth of the rigid packaging market, untapped opportunities for manufacturers, trends and developments, and other insights across various key segments. Macroeconomic factors that are directly or indirectly affecting market growth are also incorporated in the report.
Key Questions Answered in TMR’s Rigid Packaging Market Report
- What will be market size for rigid packaging by the end of 2024?
- Which product type is expected to be most preferred for rigid packaging? What was its market size in 2018?
- Which is the most preferred material for rigid packaging in the global market?
- Which region will remain the most lucrative for market growth?
- Who are the major key players in the global rigid packaging market?
Key indicators associated with the rigid packaging market have been calculated thoroughly in the report. The study enumerates key market dynamics such as key drivers, challenges, and trends, along with opportunities in the global rigid packaging market. A comprehensive study on the value chain, which includes component suppliers, manufacturers, distributors, and end users has been incorporated in the global market report. Other key aspects laid down in the market include strategy of leading market players and comparative analysis of product types. Furthermore, forecast factors and forecast scenarios of the rigid packaging market have been covered in the report to help readers understand future prospects of the market.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The rigid packaging market is analyzed at both regional and country levels.
The report delivers an exhaustive assessment on the structure of the rigid packaging market, along with a dashboard view of all leading company profiles in the report. Every company’s share analysis on market players has also been presented in the report, apart from the footprint matrix of profiled market players. The report depicts the presence of rigid packaging manufacturers by leveraging an intensity map. It also highlights key end users for rigid packaging.
The report further includes company overview of various key players. This includes detail analysis of rigid packaging manufacturers at the global level. Some key companies profiled in the rigid packaging market report include Amcor Limited, DS Smith Plc., Holmen AB, Georgia-Pacific LLC, Berry Plastics Corporation, Reynolds Group Holdings Limited, Sealed Air Corporation, RESILUX NV, and Mondi Group.
A realistic methodology, along with a holistic approach makes the base for sharp insights, which are provided in the rigid packaging market report for the study evaluation period. This TMR report comprises detailed information on growth prospects, along with riveting insights into the forecast assessment of the market.
Extensive primary and secondary research has been employed to garner keen insights into the study of the rigid packaging market. The report has further gone through a cross-validation by in-house professionals to make the rigid packaging market report one-of-its-kind, with the highest credibility.
Rigid Packaging Market: Segmentation
The global rigid packaging market has been segmented on the basis of material, application, product type, and region. Each of these segments are analyzed to provide readers a comprehensive view of the market.