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Overview
The global rigid packaging market is estimated to expand at 6% CAGR from 2017 to 2023 (forecast period). The growth is facilitated by the penetration of the ecommerce sector. Preference of online shopping and jaw-dropping discounts given to products have pushed the demand for rigid packaging. Furthermore, the burgeoning transportation and logistics sector which plays a major role in transfer of goods from one place to another is likely to boost market volume exponentially over the forecast period.
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 growth over the assessment period.
Segmentation
The rigid packaging market is segmented by material, product, and application.
By material, it is segmented into metals, plastics, glass, and paperboard. Plastic is the dominant segment and predicted to reign during the forecast period owing to its rapid production rate. This is evident by the use of chemicals such as polypropylene (PP), polyethylene (PE), and polyethylene terephthalate (PET) for the manufacture of plastics. On the other hand, the metal segment is projected to drive the rigid packaging market growth thanks to prominent suppliers of metals such as Rio Tinto and ArcelorMittal.
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.
By application, it is segmented into personal care, consumer goods, food & beverage, healthcare, and others. The food & beverage segment is expected to be in the lead due to massive demand for beverages. Demand for liquor and energy drinks is likely to push the demand for rigid packages due to their sensitive nature.
Regional Analysis
Geographically, the rigid packaging market 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.
Competitive Landscape
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.
Read More :
https://sites.google.com/view/mrfr/shrink-sleeve-labels-market
https://www.bloglovin.com/@sagarkinagi/pressure-sensitive-tapes-market-increasing-4534893
https://medium.com/@sk4441933/shrink-sleeve-labels-market-2020-overview-and-analysis-e041f2964d85
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