(Food-Beverage-News.Com, February 16, 2018 ) Rigid Packaging Market was valued at $498 billion in 2016 and is expected to reach $786.1 billion by 2024, having a CAGR of 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.
Market Dynamics 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.
Market Segmentation 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, Asia-Pacific and Rest of World. Asia-Pacific is the largest market in terms of rigid packaging. However, Europe is expected to witness the fastest growth during the forecast period of 2016-2024.
Some major market players are Amcor Limited, Ball Corporation, Berry Plastics Corporation, DS Smith Plc., Georgia-Pacific Corporation, Holmen AB, Reynolds Group Holding, Tetra Pak International, Resilux NV and Crown Holdings, Inc.
RIGID PACKAGING MARKET SEGMENTATION By material type Metal Plastics Paper & paperboard Glass Others By end-user Food and beverages Pharmaceuticals Durable goods Cosmetics Industrial packaging Others By Geography North America U.S Canada Mexico Europe U.K Italy France Rest of Europe Asia-Pacific India China Japan Rest of APAC Rest of World Latin America Middle East Africa KEY MARKET PLAYERS Amcor Limited Ball Corporation Berry Plastics Corporation DS Smith Plc. Georgia-Pacific Corporation Holmen AB Reynolds Group Holding Tetra Pak International Resilux NV Crown Holdings, Inc.
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