Rigid Plastic Packaging Market Share Expected to Expand at a 4.9% CAGR from 2024 to 2030

The Rigid Plastic Packaging Market Share is valued at USD 215.45 billion in 2023; it is expected to reach a value of USD 301.14 billion by the end of 2030 and growing at a CAGR of 4.9% during 2024-2030. And the unfolding of this trend is primarily attributed to the rising utilization in sectors such as food and beverages, healthcare, cosmetics, and pharmaceutical industries, attributed to its cost-efficiency, low-weight, and durability.

Opportunities & Drivers for Market Growth

Growth potential and forecast up to 2030 The global rigid plastic packaging market stands to gain significantly from its versatile nature that caters to diverse packaging requirements. More than anything, rigid plastic packaging is light and strong, cutting transport costs, while ensuring product safety. Furthermore, the availability of consumer-friendly features such as openability mechanisms, resealability, and portion control also propel consumer preference. In addition, the significant push for sustainability is propelling the demand for sustainable packaging and manufacturers are concentrating on developments in recyclable materials and bioplastics in response to trend.

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Segmentation Analysis

Global Rigid Plastic Packaging Market by Type, Production process and by Material which is also an important factor for its growth

by Type: With the growing demand for convenience and sustainable packaging solutions in the food, beverage, cosmetics, and healthcare sectors, the bottles and jars segment accounts for the largest market share. Trays are another product registering healthy growth, primarily supported by stable and organized packaging, with food and healthcare packaging. Key segments that are gaining traction in this space are tubs, cups, and pots due to their ease of use, aesthetics and use in cosmetics and toiletries.

by Process of Production — The extrusion process flights is the best segment of generating process which is a prominent share of the market, owing to its cost-effectiveness and capability to manufacture different processes of packaging. Injection molding is widely used for mass production of complex packaging components. Blow molding is commonly used in obtaining cost-efficient and lightweight designs for bottles and containers whereas thermoforming is emerging as a cost-effective solution for producing trays, cups and other packaging solutions for larger scales production as it offers greater flexibility along with benefits of faster production speed.

by Material: As you may already know, sustainability is becoming a key factor for both consumers and retailers, which means the demand for bioplastics, a new type of material category in mature rigid plastic packing space, is rapidly emerging. Polyethylene (PE), an enduring performer, is one of the most common materials found in a wide variety of end-use applications including bottles, containers, and films. Apart from this, PET (Polyethylene Terephthalate) is another type of plastic that is commonly utilized, particularly in the beverage industry, due to transparent appearance, recycling, and light-weight.

Country-Level Analysis

United States : The United States is one of the largest consumer country of rigid plastic packaging leading to the growth in the food and beverage sector which itself is a driving factor for the rigid plastic packaging market, with high demand for bottles, jars and containers, This leads to sustainability and helps in the growth of market with increasing consumer preference for easy opening packaging.

Germany: As a country with high manufacturing capabilities, the demand for rigid plastic packaging in Germany has surged due for the automotive, food and healthcare sectors. The sustainable solutions drive of the country has further fast-tracked adoption of greener packaging materials.

China is a key player in the rigid plastic packaging market as it has the highest population in the world and a fast-growing manufacturing sector. Further, the rising demand in the food and beverage industry and increasing environmental concerns lead to the demand for recyclable and bioplastic packaging in the country.

India: Rapidly growing retail and food service industries are driving the demand for rigid plastic packaging in India. The rising middle-class population with increasing disposable income regarding consumer goods adds to the demand for packaged items thus, driving the market.

Brazil: As being one of the prominent countries in Latin America, Brazilian rigid plastic packaging market is driven by food and beverage industry. Expansion of the market is also projected to continue due to rising demand for consumer goods, along with urbanization.

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Competitor Analysis

The global rigid plastic packaging market is witnessing competition in terms of innovations, sustainability initiatives, and market share held by major players. Major companies include:

Amcor PLC: With a long-standing dedication to sustainability, Amcor provides an extensive portfolio of innovative recyclable packaging solutions, including efforts to preemptively address the challenges and changing requirements of consumers and environmental standards.

Berry Global, Inc.: Widely recognized as a top manufacturer of plastic products, Berry Global focuses on the production of rigid plastic packaging for several end-use industries. Sustainable investments, such as recyclable materials, are also part of the company's promise.

Sealed Air Corporation: Matern said the company is very focused on safe sustainable solutions since 1960 and has been investing heavily in eco-friendly rigid plastic solutions primarily for food and beverage sectors.

Plastipak Packaging, Inc.: Known for its best-in-class rigid plastic packaging solutions, Plastipak champions sustainability by developing packaging with lower carbon emissions and higher recyclability rates.

RPC Group Plc (acquired by Berry Global): RPC Group is one of the world's largest designers and suppliers of rigid plastic packaging products to the food, beverage, healthcare and personal care sectors. Their strategic approaches revolve around enhancing product design and sustainability.

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Conclusion

Rising growth of rigid plastic packaging market can be attributed to innovations in packaging design, convenience-oriented lifestyle and increasing sustainable parenting. Despite factors like environmental concerns and fluctuation in prices of raw material which may hinder the market growth, continuous research and development of eco-friendly and recyclable raw material will offer numerous opportunities for growth of the best available technology segment. Given rising demand across various sectors, the scope for the development of rigid plastic packaging market is container-bound over the years to come.

Explore More: Visit our website for Additional reports:

Rigid Packaging Market https://www.maximizemarketresearch.com/market-report/rigid-packaging-market/201496/ 

Sustainable Packaging Market https://www.maximizemarketresearch.com/market-report/sustainable-packaging-market/185625/ 

Snack Food Packaging Market https://www.maximizemarketresearch.com/market-report/global-snack-food-packaging-market/65472/ 

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