Rigid Packaging Market to Surpass 492.3 Billion by 2030 Drives Due to the Strong Emphasis on Food Packaging
SkyQuest projects that the rigid packaging market will attain a value of USD 492.3 billion by 2030, with a CAGR of 3.6% over the forecast period (2023-2030). The rigid packaging market has experienced substantial growth due to the increasing demand for rigid plastic packaging from the healthcare industry. This demand stems from the crucial need to protect medicines and medical products from contamination. The healthcare sector requires packaging solutions that comply with rigorous international regulatory standards to ensure the safety and integrity of the contents.
Westford, USA, Aug. 22, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the Flexible Packaging Association has highlighted that flexible packaging is predominant in the food sector, representing over 60% of the overall rigid packaging market. This strong emphasis on food packaging has contributed to the robust growth of the flexible packaging industry.
Browse in-depth TOC on the “Rigid Packaging Market”
- Pages – 157
- Tables – 126
- Figures – 77
Packaging has evolved into a crucial component of a product’s marketing mix, serving multiple functions such as surrounding, enhancing, and protecting goods in the rigid packaging market. It plays a vital role in ensuring the efficient and organized handling of materials, reducing costs, and facilitating effective supply chain management. Additionally, packaging enables modern consumer marketing strategies by providing a platform for branding, product differentiation, and communicating essential information to consumers.
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Prominent Players in Rigid Packaging Market
- Amcor plc
- Berry Global, Inc.
- Ball Corporation
- Crown Holdings, Inc.
- Sealed Air Corporation
- DS Smith Plc
- WestRock Company
- Sonoco Products Company
- Huhtamaki Oyj
- Ardagh Group S.A.
- Silgan Holdings Inc.
- Owens-Illinois, Inc.
- Graphic Packaging Holding Company
- Tetra Pak International S.A.
- Smurfit Kappa Group plc
- Mondi plc
- Coveris Holdings S.A.
- Gerresheimer AG
- Bemis Company, Inc.
- AptarGroup, Inc.
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Plastics Segment is Expected to Dominate the Market Due to its Versatile Nature
Plastics sector is poised to deliver substantial returns from 2023 to 2030, driven by its numerous advantages in the rigid packaging market. Plastics offer an appealing visual aesthetic, enhance hygienic attributes, and extend the shelf life of products. Its versatile nature allows the plastic to be molded into various sizes and forms while maintaining its high-quality standards.
The market in Europe emerged as the second most dominant region in the rigid packaging market. The region’s strong position can be attributed to the well-established food and beverage and personal care product industries. Over time, these industries have reached a saturation point in terms of market penetration and have achieved a high per capita consumption of packaged goods
Food and Beverage Segment is Expected to Grow the Market Due to the Increasing Demand for Packaged Food
Food and beverage sector emerged as the dominant force in the rigid packaging market. The sector’s growth has been fueled by the increasing demand for packaged food, driven by shifting lifestyles and consumer preferences. The need for ready-to-eat and easily accessible food products has soared as individuals opt for convenience and time-saving options. This trend has propelled the growth of rigid packaging within the sector.
Regional markets in the Asia-Pacific emerged as the most dominant region for the rigid packaging market. This dominance can be attributed to the region’s significant presence of food and beverage and personal care product manufacturers.
A comprehensive analysis of the major players in the rigid packaging market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Rigid Packaging Market
- Mondi and Fiorini International recently collaborated to develop an innovative paper packaging solution for Antico Pastificio Umbro, an Italian premium pasta manufacturer. The newly created packaging is fully recyclable, aligning with the growing demand for sustainable packaging options. Upon implementation across all pasta products, this solution has the potential to save up to 20 tons of plastic annually, contributing to a reduction in plastic waste and environmental impact.
- Coveris recently announced an expansion of its capacity at the Kufstein site. The newly established extrusion facility has been fully operational, representing a significant step forward in the plant’s modernization efforts. The expansion focuses on enhancing the production speed of stretch film designed explicitly for silage bales.
Key Questions Answered in Rigid Packaging Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
Related Reports in SkyQuest’s Library:
Global Antimicrobial Packaging Market
Global Retort Packaging Market
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