Rigid Packaging Market was valued at $498 billion in 2016 and is expected to reach $786.1 billion by 2024, having a CAGRof 5.9% during the forecast period of 2017 to 2024. The plastics segment garnered the highest revenue share in the global rigid packaging market in 2016, holding nearly half of the market.
Rigid packaging is used extensively across industries to package the products in order to facilitate the convenience in handling the products without causing any damage. It is used to package goods in different forms such as bottles, cans, ampules, aerosol containers, aluminum bottles, and jars. Rigid plastic packaging has properties such as high impact strength, high stiffness, and high barrier properties. Without packaging, material handling would be a chaotic, inefficient and costly exercise.
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Increased shelf life, increasing health consciousness, growing use of rigid packaging in pharmaceuticals segment, increasing demand for convenience food and low cost of plastic packaging are some major driving factors of rigid packaging market. Moreover, vigorously increasing international trade and progressive investments in quality packaging are also pushing the growth of the market. However, stringent government regulations across different countries are restraining the market growth. On the other hand, technical improvisations in packaging technology and shifting trend of consumers towards paper packaging can act as future opportunities to the market growth. Moreover, packaging manufacturing companies are moving beyond conventional packaging materials and methods to reduce carbon emissions of rigid plastic packaging.
The rigid packaging market is segmented on the basis of material type, end user and geography. By material type, the market is segmented into metal, plastics, paper & paperboard, glass and others. On the basis of end user, the market is segmented as food and beverages, pharmaceuticals, durable goods, cosmetics, industrial packaging and others. Geographically, the market is segmented into North America, Europe, AsiaPacific and Rest of World. AsiaPacific is the largest market in terms of rigid packaging. However, Europe is expected to witness the fastest growth during the forecast period of 20162024.
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By material type
• Paper & paperboard
• Durable goods
• Industrial packaging
• Rest of Europe
• Rest of APAC
Rest of World
• Latin America
• Middle East
KEY MARKET PLAYERS
• Ball Corporation
• Berry Plastics Corporation
• DS Smith Plc.
• GeorgiaPacific Corporation
• Holmen AB
• Reynolds Group Holding
• Tetra Pak International
• Resilux NV
• Crown Holdings, Inc.
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