Rigid Plastic Packaging Industry Global Size, Future scope, Analysis, Business Development and CAGR to 2023
Summary
Global Rigid Plastic Packaging Industry Size information by Material (Bio plastics, Polyethylene Terephthalate (PET), Polyethylene (PE), Polyvinyl Chloride (PVC) and others), by Product (Bottles & jars, Trays, Tubs, Cups and others), by Manufacturing Process (Extrusion, Injection Molding, and others), by Application (Food & Beverages, Healthcare, Personal Care, Industrial Packaging and Others) and By Region Forecast To 2023
Overview
The worldwide market for Rigid Plastic Packaging Industry Size is gaining high traction, on the back of mounting demand stemming from the food and beverages industry, a prominent end user of rigid plastic packaging. Evolving eating habits of consumers all over the world, given the rising preference for packaged foods, works in favor of the Rigid Plastic Packaging Industry Size.
Top Players
Coveris Holdings S.A. (Luxembourg)
Reynolds Group Holdings (New Zealand)
Bemis Company, Inc. (U.S.)
Berry Plastics Corporation (U.S.)
Linpac Packaging Limited (U.K.)
ALPLA Werke Alwin Lehner GmbH & Co KG (Austria)
Silgan Holdings, Inc. (U.S.), to mention a few.
Market Segmentation
The global Rigid Plastic Packaging Industry has been segmented with regard to material, manufacturing process, application and product.
The applications covered in the MRFR report are Healthcare, Food & Beverages, Industrial Packaging Personal Care and others. Food & beverages emerged as the leading segment in the market and has the potential to achieve the highest growth rate in the following years. Burgeoning worldwide population combined with the soaring demand for food and beverages induces market growth.
Regional Insight
The APAC market for rigid plastic packaging is leading, with North America being the second largest market. APAC has also been identified as the fastest growing regional market, with the prime countries like India, China and Japan contributing the most towards market growth. These countries are known for exporting goods to several parts of the world. Surging industrialization as well as urbanization in China and India gives a significant boost to the regional market. Moreover, easy availability of raw materials along with low labor cost helps with market growth in the region. China is the most lucrative market for rigid plastic packaging in the region.
North America is the second-best market for rigid plastic packaging, thanks to the high consumption of beverages like cold drinks, juices among others. Booming online sales also share the regional market positively, which is supplemented by the high disposable income of people in the region.
MEA along with Latin America shows promise and can attain a strong growth rate during the review period, on account of the accelerated demand from the e-commerce and manufacturing sector.
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