Rigid Packaging Market Size, Growth Rate, Future Scope, Analysis, Business Development And CAGR To 2023
Rigid Packaging Market Size
Rigid packaging is a major part of overall packaging market. It is widely used for protecting many types of products from physical shocks and from other types of damage. Rigid packaging is extensively used for packing volatile and highly reactive products along with other types of products due to high durability. The demand for rigid packaging is increasing continuously and is expected to grow at the same pace over the forecast period owing to increasing demand from the consumer goods sector.
Global Rigid Packaging Market Size is estimated to grow at a CAGR of 6.0% during the estimated period, 2017-2023.
Regional Analysis
On the basis of the regions, the global Rigid Packaging Market Size is segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Asia Pacific region dominates the global Rigid Packaging Market Size followed by North America and Europe. It is expected to be the fastest growing region in the global market. It comprises various countries such as China, India, and Japan, which lead to the export of goods to various parts of the world. High growth in industrial activities and growing urbanize population in developing countries such as China and India boost the growth of the market. Furthermore, the availability of raw materials and low labor cost, together form a positive influence on the market growth. China accounts for the largest share of the Rigid Packaging Market Size in the Asia Pacific region.
Segmentation
Global Rigid Packaging Market Size has been segmented based on material, product, application, and region. On the basis of the material, the market is segmented into metals, plastics, glass, and paperboard. The plastic dominates the material segment of the market and is expected to be the fastest growing segment over the forecast period. Various types of plastics such as Polyethylene terephthalate (PET), Polyethylene (PE), Polypropylene (PP) are used in the production of rigid packaging products. Increasing adoption of rigid plastics for packaging mainly due to the factors such as lightweight, maintaining freshness of the product, strength/toughness, reduced breakage, and low cost.
Key Players
- Amcor Limited (Australia)
- Bemis Company, Inc. (U.S.)
- RPC Group Plc (U.K.)
- DS Smith Plc., (U.K)
- Sealed Air Corporation (U.S.)
- Berry Plastics Corporation (U.S.)
- Coveris Holdings S.A. (Luxembourg)
- Reynolds Group Holdings (New Zealand)
- Plastipak Holdings, Inc. (U.S.)
- Tetra Pak International (Switzerland)
- Ball Corporation (U.S.)
- Holmen AB (Sweden)
- Silgan Holdings, Inc. (U.S.)
- Linpac Packaging Limited (U.K.) and Consolidated Container Company (U.S.).
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