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Evolving lifestyle coupled with high consumer spending on packaged goods is also expected to stimulate the growth of the global rigid plastic packaging market in the coming years. On account of the surging environment concerns, the demand for recyclable products has risen which benefits the market.
Regional Insight
The worldwide rigid plastic packaging market is mainly concentrated in the regions of North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW).
North America is the second-best market for rigid plastic packaging, thanks to the high consumption of beverages like cold drinks, juices among others. Booming online sales also share the regional market positively, which is supplemented by the high disposable income of people in the region.
MEA along with Latin America shows promise and can attain a strong growth rate during the review period, on account of the accelerated demand from the e-commerce and manufacturing sector.
Segmentation
The global market for rigid plastic packaging has been segmented with regard to material, manufacturing process, application and product.
The applications covered in the MRFR report are Healthcare, Food & Beverages, Industrial Packaging Personal Care and others. Food & beverages emerged as the leading segment in the market and has the potential to achieve the highest growth rate in the following years. Burgeoning worldwide population combined with the soaring demand for food and beverages induces market growth.
Considering the product segment, the market consists of trays, bottles & jars, cups, tubs, and others. Bottles & jars are the leading segment in the market as bottles help package numerous products like water, juices, food products, carbonated soft drinks, and others. The constantly growing population, rising urbanization, and the mounting demand for beverages as well as household care products is boosting the demand for bottles and jars in the market.
Top Players
Some of the esteemed players in the global rigid plastic packaging market are Sealed Air Corporation (U.S.), RPC Group Plc (U.K.), Consolidated Container Company (U.S.)
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