Rigid plastic is a plastic packing that involves the utilization of plastic materials for packaging purposes. This is mainly used in industries such as personal care, food & beverages, healthcare and end-use industries. The global rigid plastic packaging market is being driven by the rising strong demand from the food & beverage packaging industry as the plastic packaging store the food as required and the improving packaging recycling rates all over the globe. Furthermore, the Change in lifestyle patterns of people and their perception regarding the use of rigid plastic will provide new opportunities for the global rigid plastic packaging industry. For instance according to U.S environmental protection agency, in 2018 the recycled packaging and container was 53.9 percent which was around 44,330 tons of total 82,220 tons of plastic generation as compared to 2017 in which the total generated was 81,200 out of which 40,140 tons of plastics and containers were recycled. As a result, these increases in recycling rates of the plastics and containers not only boost the rigid plastic packaging but these recycling will also improve environmental sustainability, which will serve as a catalyst for the rigid plastic packaging industry in the future. However, Stringent Legal and Political Regulations may impede market growth over the forecast period of 2021-2027.
The global Rigid plastic packaging Market is valued approximately at USD 190.33 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.7% over the forecast period 2021-2027 to reach USD 262.50 Billion by 2027.
Asia Pacific, North America, Europe, Latin America, and the Rest of the World are the key region considered for the regional analysis of global rigid plastic packaging. The increase in developmental activities and rapid economic expansion in countries such as India and China make the Asia Pacific the leading region across the world in terms of market share. Whereas the Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to an increase in consumer disposable income, rising consumption and fast-moving consumer goods.
Major market players included in this report are Amcor, Berry Global Group Inc., Pactiv LLC, Silgan Holdings Inc, Sonoco Products Company, DS, Smith PLC, Alpla, Sabic, AL Jabri plastic factory, Takween advance industries.
The detailed segments and sub-segment of the market are explained below:
By Type: Bottles & Jars, Rigid bulk products, Rays, Tubs, cups and pots, Others
By Raw material: Bioplastics, Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Others
By Application: Food & beverages, Healthcare, Cosmetics & toiletries, Industrial, Others
By Region: North America, Europe, Asia Pacific, Latin America, Rest of the World
Furthermore, the years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Rigid plastic packaging Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Bizwit Research & Consulting LLP