Global Rigid Packaging Market Share, Size, Growth, Trends, Analysis by Materials (Metals, Plastics, Glass, Paperboard), Product (Bottle & Jars, Trays, Boxes, Containers, and Cans), Application (Food & Beverage, Healthcare, Personal Care, Consumer Goods), and Region - Forecast 2023
Sustainability has become the talking point in light of high carbon emission levels. The recyclable nature of rigid packages coupled with the long shelf-life is likely to boost the Rigid Packaging Market Share, growth over the assessment period.
Key market players include Linpac Packaging Limited, Silgan Holdings, Inc., Consolidated Container Company, Bemis Company, Inc., RPC Group Plc, Ball Corporation, Amcor Limited, Holmen AB, Sealed Air Corporation, Reynolds Group Holdings, Tetra Pak International, Coveris Holdings S.A., Berry Plastics Corporation, Plastipak Holdings, Inc., and DS Smith Plc.
The Rigid Packaging Market Share is segmented by material, product, and application.
By product, it is segmented into boxes, containers, cans, trays, bottles & jars, and others. Among them, the bottles & jars segment is expected to be the leading segment till the end of the forecast period. This is credited to the demand for household products amid the procurement of new homes by buyers. On the other hand, boxes and containers can bolster market demand over the assessment period due to constant trading activities between countries.
Geographically, the Rigid Packaging Market Share, focuses on regions of North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). The APAC did dominate the global market due to countries of India, China, and Japan which lead in export of various goods. Growth of industrialization and high purchasing power of consumers in these countries can induce high demand and revenue for the global market in the region.
North America is the second largest region due to the shift to bioplastics from plastics by various industries for their packaging needs. This can be attributed to strict regulations regarding the recycling of packaging materials. The U.S. is expected to be the biggest contributor of the region. Innovation centers are being established for creating new bottle or box designs. For instance, StackTeck of Canada has used a varied approach for thinning walls of margarine tubs and lids which reduces its overall weight between 20 and 40 percent.
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