Global Rigid Packaging Market Size, Growth, Trends, Scope and Forecast Report 2021-2027

The global rigid packaging market is projected to generate revenue of around USD 825 billion by the end of 2027, growing at a CAGR of around 7.90% between 2021 and 2027. Surging demand for eco-friendly and sustainable packaging is one of the key trends stoking market growth.

The demand in the global rigid packaging market has been increasing in past few years. One of the important factors behind this increasing demand is because of the advancements in sector of consumer goods manufacturing. In general, rigid packaging is used for packaging breakable products for a broad range of applications. The players operating in the global rigid packaging market have been striving hard to spread out their portfolios and expand their consumer base. These leading players in the market are now moving on from direct marketing tactics to inbound marketing and lead strategies to get new customers. It is projected that these prominent players in the global rigid packaging market will mainly benefit by forming strategic partnerships with the packaging bases of several industries. It is also estimated that the new takeovers and mergers will soon become a norm in the global rigid packaging market.

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Growing Popularity of Cans and Containers to Propel Market Growth

There are different types of rigid packaging materials that are available in the global market. Most common type of these packaging materials are in the form of cans and containers. These cans and containers are deployed for transporting and storing a wide range of products such as liquids, lotions, oils, beverages, and food among others. Due to the growing demand of these products across the globe, it is expected to have a highly positive impact on the overall development of the global rigid packaging market.

Mergers and Takeovers to Present Business Opportunities for Market Players

The global rigid packaging market has been growing in recent years. There are expected to be several opportunities of growth for the development of old as well as new companies. Rigid packaging has its applications across a broad range of industries. This provides the companies operating in the global market to enter into different domains and sectors. Moreover, the chances of forming strategic partnerships and alliances are also quite high. This provides the smaller companies in the global market to enter into the big fray. Some of the leading companies in the global rigid packaging market include names such as Georgia-Pacific LLC, Reynolds Holdings Ltd., Berry Plastic Group Inc., Resilux NV Inc., and Sealed Air Corp among others.

Material Insights

Plastic dominated the market with a revenue share of 45% in 2020. Advantages of plastic such as high strength and stability have made it a popular material for manufacturing rigid packaging products. Besides, it can be molded into various shapes and sizes, without compromising on its quality.

Metals used include aluminum, stainless steel, and tin. Aluminum is the most widely used metal for rigid packaging. Containers and cans are some of the commonly made packing products from metals. Metals are often used due to their extremely high strength and durability. It is more commonly used as a tertiary source of packing, forming the outermost packaging layer, which is not in immediate contact with the product.

Paper was one of the most widely used materials in 2020. It can be used in making both, rigid as well as flexible packaging products. The fact that paper & paperboard can be recycled has made it a common material in the industry. Cost-effectiveness and easy availability of paper & paperboard is contributing to the growth of the segment. The segment accounted for a volume share of 75% in 2020.

Glass is considered to be a sustainable material in the market, as it can be completely recycled. Spiraling demand for glass from the personal care sector is also projected to play a major role in the coming years. Moreover, increasing use of glass bottles in the beverage and pharmaceuticals industries is likely to stimulate the growth of the overall market.

Application Insights

In terms of application, the food & beverage sector was at the forefront of the rigid packaging market in 2020. It accounted for a revenue share of 60% in 2020. Increasing demand for packaged food owing to changing lifestyles is poised to be one of the key growth stimulants of the segment. Flourishing beverage industry, led by products such as liquor and energy drinks, is resulting in boost in the demand for rigid packaging.

Pharmaceutical packaging is carried out in order to keep medicines free from getting contaminated and prevent microbial growth. Proper packaging helps in increasing the shelf life of drugs. Increased spending on medicines and medical devices is estimated to stir up the demand for rigid packaging.

Personal care packaging includes packing of products such as cosmetics and toiletries. This industry has witnessed phenomenal growth over the past few years owing to growing importance of grooming and hygiene. Rising awareness about health and wellness in developing countries is also anticipated to spur the growth of the segment. This segment accounted for a revenue share of 23% in 2020.

Other applications include the industrial and electronics sectors. Increasing utilization of electronic devices including smartphones, tablets, and laptops is expected to supplement the growth of the segment over the forecast period. Proliferation of smart devices in emerging regions such as Asia Pacific and Central & South America is also playing a pivotal role in the growth of the overall market.

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Regional Insights

Asia Pacific accounted for a major revenue share of 55% of the global market in 2020. This region is driven by rapid expansion of the pharmaceutical and food & beverage sectors. Besides, emerging economies such as China and India are projected to register sharp rise in the demand for rigid packaging over the forecast period.

U.S. was the leading revenue contributor in North America. Plastic was the most popular material in this region in 2015. Robust growth of the food & beverage industry is one of the key factors propelling the regional market. Regulations regarding recycling and sustainability of materials in order to maintain environmental balance are triggering the demand for bioplastic packaging solutions.

Europe is considered to be one of the most developed regions in the world. However, the economic depression from 2007 to 2009 severely affected the economies of most of the region. End-use industries such as food & beverages and personal care also witnessed a downfall during this period in this region. Consequently, the rigid packaging industry was also affected.

Central & South America is considered to be one of the promising regions of the world. This region comprises some of the emerging countries such as Brazil, Argentina, Colombia, and Chile. Similar to Asia Pacific, this region is likely to witness rapid expansion of the food & beverages and personal care industries; thereby, positively influencing the global market.

Competition Landscape

  • Amcor Limited, DS Smith Plc.,
  • Holmen AB
  • Georgia-Pacific LLC
  • Berry Plastics Corporation
  • Reynolds Group Holdings Limited
  • Sealed Air Corporation
  • RESILUX NV
  • Mondi Group

Segmentation:

Global Rigid Packaging Market: Types Segment Analysis

  • Plastic
  • Metals
  • Glass
  • Paper
  • Others

Global Rigid Packaging Market: End-User Segment Analysis

  • Food and Beverages
  • Electronics
  • Consumer Usable Products
  • Personal Care
  • Pharmaceutical
  • Others

Global Rigid Packaging Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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