The global rigid packaging market size is expected to gain momentum owing to the growing e-commerce industry during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Rigid Packaging Market, 2021-2028.” It is used in various sectors, including medicines, food and drinks, technology, care products, and many more. The food and beverage sector is a significant consumer of packaging goods. Growing consumption of convenience and ready-to-eat food items is expected to propel the industry forward in the coming years. Stringent recycling rules for packaging materials are driving increasing demand for sustainable and environmentally friendly materials. Demand for bioplastics for packaging has increased dramatically in recent years, and this trend is expected to continue over the projection period.
Supply Chain Disruption to Hamper the Market Growth
The rigid packaging industry’s roughly one million people are working diligently to deliver the material required at the frontlines. Plastics are critical in limiting the spread of this illness, from medical equipment to packaged foods. Plastics will become increasingly important in keeping our families healthy, our food fresh and safe, and our healthcare providers safe. Major suppliers are converting their non-essential packaging capacity to necessary packaging to meet growing demand in the food and healthcare industries. Aside from this, traditional packaging goods are making a resurgence in the market to help with supply chain management.
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By material, the market is segmented into plastic, wood, metal, glass, bio-plastic, paper, and cardboard. On the basis of application, the market is segregated into food & beverages, pharmaceuticals, personal care, industrial, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Offer?
The market includes information by competitors. Business overview, financials, income produced, market potential, investment in R&D, new market efforts, worldwide presence, manufacturing sites and facilities, production capacities, business strengths and weaknesses, new product developments. The market analysis provides information on key drivers, restraints, challenges, and development prospects to help stakeholders comprehend the industry’s market position.
Drivers & Restraints-
Increasing Awareness on Food Safety to Stimulate Growth
The global rigid packaging market growth is expected to grow due to the increasing awareness regarding food safety during the projected period. The growing awareness of food safety is driving the need for packaging material. To address these consumer concerns, players in the food and beverage industry are looking for effective rigid packaging materials. Furthermore, packaging experts believe that rigid packaging solutions will significantly boost food production and improve long-term storage. Moreover, rising e-commerce industry growth has resulted in elevated demand for the product, which acts as an important factor in escalating market growth. Other major factors include expanding strong demand from the foodservice packaging industry, increasing global consumption of consumer products, rising packaging recycling rates, and increasing the low cost of rigid plastics.
Increasing E-Commerce Industry to Promote Growth in Asia Pacific
Asia Pacific is expected to hold the largest global rigid packaging market share during the forecast period. The pharmaceutical and food and beverage industries are rapidly expanding in this region. Furthermore, rising nations such as China and India are expected to have a significant increase in packaging systems demand throughout the projection period.
North America is expected to have a sizable share of the market. One of the main factors driving the regional market is the robust expansion of the food and beverage industry. Rules concerning recycling and resource durability in order to maintain the natural environment are driving demand for biopolymers packaging materials.
Increasing Number of Mergers to Spur Demand Opportunities
The market for rigid plastic packaging is very fragmented. Companies are concentrating on offering lightweight and high-performance corrugated grades in order to reduce costs and improve packing performance. Companies in the market have used a variety of tactics, including expansions, mergers and acquisitions, and agreements and partnerships, to increase their worldwide presence and their market shares.
February 2020: PlastiPak has announced a substantial investment in new lightweight finish technology for carbonated beverage bottles.
List of Key Players Profiled in the Global Market for Rigid Packaging:
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