Rigid Plastic Packaging Market Overview

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The global rigid plastic packaging market is projected to garner a CAGR of 5.6% over the forecast period between 2017 and 2023.

The market is driven by factors like the increasing innovation in rigid packaging and the surging consumption rate of processed foods & beverages. Add to this, the high disposable income of individuals across developing nations is slated to further accelerate the rigid plastic packaging market. However, the fluctuating nature of the raw material pricing and concerns related to recycling and environment can be major hindrance to the overall growth of the market.

Segmentation

The global rigid plastic packaging market segmentation is based in terms of material, manufacturing, product, and application.

By material, the market segments into Polyvinyl Chloride (PVC) Polyethylene Terephthalate (PET), Bio plastics, Polyethylene (PE), and others. The polyethylene segment holds the highest share of the global market and as per the report published by MRFR the segment is anticipated to be the fastest-growing market segment. It has been observed that most end-users use low-density polyethylene (LDPE) for rigid plastic packaging.

By manufacturing process, the market comprises injection molding, extrusion, and others. The injection molding segment is the highest share holder of the market as it is the most commonly used process of manufacturing for the fabrication of plastic parts. It is primarily preferred due to the low production waste it generates and the faster-rate of production it offers.

By application, the market includes healthcare, food & beverages, industrial packaging, personal care, and others. Herein, the food & beverages industry holds the dominant share of the market and is projected stand out as the fastest growing segment under this category.

Regional Analysis

The global rigid plastic packaging market is regionally segmented into the following geographies: North America, Asia Pacific, Europe, and the Rest of the World (RoW).

The Asia Pacific region holds the dominant share percentage in the global rigid plastic packaging market. The region is anticipated to grow at the fastest pace during the forecast period primarily due to the presence of India, Japan, and China.

North America stands second in the global rigid plastic packaging market standings and is expected grow at a consistent pace in the coming years. Elsewhere, the Latin America and the Middle East & Africa regions under the Rest of the World (RoW) segment are also expected to experience high growth rate during the forecast period.

Competitive Landscape

The global rigid plastic packaging market includes several key players, including Berry Plastics Corporation (U.S.), Sealed Air Corporation (U.S.), Amcor Limited (Australia), Reynolds Group Holdings (New Zealand), RPC Group Plc (U.K.), Silgan Holdings, Inc. (U.S.), Bemis Company, Inc. (U.S.), Linpac Packaging Limited (U.K.), Coveris Holdings S.A. (Luxembourg), ALPLA Werke Alwin Lehner GmbH & Co KG (Austria), Plastipak Holdings, Inc. (U.S.), and Consolidated Container Company (U.S.).

 

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