Rigid Packaging Market Is Estimated To Witness High Growth Owing To Increasing Global Trade and Rising Demand for Sustainable Packaging

The global rigid packaging market is estimated to be valued at US$ 693,808.32 million in 2021 and is expected to exhibit a CAGR of 3.3% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

Rigid packaging refers to packaging materials that are sturdy and inflexible, providing durability and protection to the products inside. These materials are commonly used in industries such as food and beverages, pharmaceuticals, personal care, and electronics. Rigid packaging includes materials such as plastics, metals, glass, and paperboard. These materials are widely used for packaging goods such as bottles, containers, cartons, and boxes. Rigid packaging offers several benefits such as product protection, extended shelf life, enhanced branding opportunities, and ease of handling and storage.

B) Market Dynamics:

The global rigid packaging market is driven by two main factors: increasing global trade and rising demand for sustainable packaging.

One of the major drivers of the rigid packaging market is the growth of global trade. With the expansion of cross-border trading activities, there is a higher demand for reliable and sturdy packaging materials to ensure the safe transportation of goods. Rigid packaging offers superior protection against impact, moisture, and temperature variations, making it ideal for long-distance shipping.

Another significant driver is the rising demand for sustainable packaging solutions. Consumers are becoming increasingly aware of the environmental impact of packaging waste and are demanding eco-friendly alternatives. Rigid packaging materials such as glass and paperboard are recyclable and can be reused multiple times, making them more sustainable options compared to single-use plastics. Many companies are also adopting innovative packaging designs and materials that reduce material usage and promote recyclability.

C) Market Key Trends:

One key trend observed in the Rigid Packaging Market is the growing adoption of lightweight packaging materials. As companies strive to reduce their carbon footprint and transportation costs, there is a shift towards using lightweight packaging materials such as plastics and aluminum. These materials offer the same durability and protection as traditional materials but are lighter, resulting in lower shipping costs and reduced greenhouse gas emissions.

An example of this trend is the increasing use of plastic pouches and sachets in the food and beverage industry. These pouches are lightweight, easy to handle, and have a smaller carbon footprint compared to rigid plastic bottles or glass containers.

D) SWOT Analysis:

Strength: Strong product protection capabilities and extended shelf life.

Weakness: Potential pollution and environmental impact of non-recyclable plastic packaging.

Opportunity: Growing demand for sustainable packaging solutions.

Threats: Increasing regulatory restrictions on single-use plastics and potential competition from flexible packaging alternatives.

E) Key Takeaways:

  1. The global rigid packaging market is expected to witness high growth, exhibiting a CAGR of 3.3% over the forecast period, due to increasing global trade and rising demand for sustainable packaging. Rigid packaging materials provide durability and protection to products during transportation, ensuring their quality and shelf life.
  2. In terms of regional analysis, Asia-Pacific is expected to be the fastest-growing and dominating region in the rigid packaging market. This is attributed to rapid industrialization, urbanization, and increasing consumer spending on packaged goods in countries like China and India.
  3. Key players operating in the global rigid packaging market include Amcor Limited, DS Smith Plc., Holmen AB, Plastipak Holding, Berry Plastics Corporation, Reynolds Group Holdings Limited, Sealed Air Corporation, Resilux NV, Sonoco Products Company, and Silgan Holdings. These companies focus on product innovation, sustainable packaging solutions, and strategic partnerships to gain a competitive edge in the market.

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