Rigid Packaging Market Summary, Key Buying Criteria, Revenue Growth Prospects & PESTEL Analysis

Felton, Calif., USA, Mar. 04, 2021 — /EPR Network/ —

The global Rigid Packaging Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global Rigid Packaging Market displayed a momentous growth of USD 472.19 billion in 2016. It is expected to grow significantly in the forecast period owing to rise in the demand for environment-friendly packaging. Rigid Packaging is a part of the packaging market. It is used to protect products from different types of damages.

Key Players:

• Amcor Limited
• Bemis Company, Inc.
• Coveris Holdings S.A
• Reynolds Group Holding
• Berry Plastics Corporation
• Sonoco
• Sealed Air Corporation
• Silgan Holdings, Inc.
• Plastipak Holdings, Inc.
• Consolidated Container Company
• Ball Corporation

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Growth Drivers:

Rigid Packaging is widely used for packing the explosives and highly reactive commodities as well as other types of products and supports higher durability. The continuous and increasing demand from the consumers for rigid packaging is expected to fuel up the rigid packaging industry in the coming years with a CAGR of 6.7%. The reasonable rates of rigid packaging, spurring growth of food & beverage industry, and rise in consumer spending power for packaged products are some of the driving factors of the market. Also, the rise in demand for the packaged medications and apparatuses in healthcare sector is predicted to widen scope for the market in the years to come. Additionally, the rise in manufacturing activities is expected to uplift the industry in near future.

Another driving factor for the rise of rigid packaging market comprise high transportation growth. The growing e-commerce across globe is pouring the demand for rigid packaging. Most consumers today are preferring online shopping over traditional shopping method because of wide availability of variety goods, quick delivery, easy return policies, and low or free shipping charges. However, the growing trade-related regulations and agreements among economies are stimulating the growth of the industry. Nevertheless, the increasing popularity of flexible packaging and flexible raw material costs are hampering the growth of the market.

Material Outlook:

• Plastic
• Metal
• Paper & Paperboard
• Glass
• Bioplastic

Application Outlook:

• Food & beverages
• Pharmaceuticals
• Personal care

Among these, the food & beverages segment is predicted to dominate be the fastest growing application segment in the market. Increasing population as well as rising heavy demand for beverages & foods are stimulating the growth of the industry.

Regional Outlook:

Geographically, the rigid packaging industry is segmented into Asia Pacific, Europe, North America and RoW. China accounts for the maximum market share followed by North America owing to the rising use of bioplastic. Bioplastic is used as raw material for the manufacturing of rigid packaging. The use of bioplastic is expected to reduce the carbon footprints in the area of driving rigid packaging market growth.

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