Rigid Plastic Packaging Market is accounted for USD 490 billion in 2020, growing at a robust CAGR of 5.8% during forecast period

Introduction of the Rigid Plastic Packaging Market Report

Rigid plastic is the material manufactured from resins and is capable of maintaining its shape. Rigid plastic packaging uses plastic materials including Polyethylene (PE), Polyethylene terephthalate (PET), Polypropylene (PP), Polystyrene (PS), Expanded polystyrene (EPS), Polyvinyl chloride (PVC), and others are used for the packaging of bottles, jars, and containers.

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Market Dynamic

Key Drivers and Emerging Trends

Increasing demand for lightweight plastic components and the rising focus of companies towards the development of flexible and reusable packaging products for food, medicine, electronics, automotive parts, personal care items, and others are the factors driving the growth of rigid plastic packaging market size. In addition, the rising use of recycled rigid plastics in food packaging, industrial packaging, and FMCG product packaging including shampoo, detergents, and others. Moreover, the increasing awareness about health and safety among consumers together with the rising demand for rigid plastic packaging in the healthcare and pharmaceuticals industry for safe transportation and prevention from contamination of medicines is further promoting the market growth. Furthermore, according to Plastic Oceans International, over 380 million plastic is manufactured every year and packaging is one of the largest end-use market segments accounting for over 40% of total plastic usage.

Restraint in the Rigid Plastic Packaging Market

However, strict government regulations including Rigid Plastic Packaging Container (RPPC) Law and EPR regulations for plastic packaging to reduce plastic packaging waste are expected to restraint the growth of the market. Additionally, disturbance in the supply chain and the slowdown of the manufacturing process owing to the outbreak of COVID 19 worldwide, may further hinder the market growth.

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Product – Segment Analysis

Based on product, bottles and jars are expected to account for a notable share in the rigid plastic packaging market owing to their huge demand among food & beverage, healthcare, cosmetics & personal care primarily due to their lightweight packaging, leakage-free storage, and cost-effectiveness. In addition, bottles and jars help manufacturers in providing product differentiation, visual appeal to shoppers, easy opening and resealing.

Material – Segment Analysis

Based on the material, polypropylene (PP) is expected to grow at a prominent rate during the forecast period. This can be attributed to its high melting point, flexibility, lightweight, high tensile strength, corrosion resistance, and good surface finish. As per the American Chemistry Council, Inc., polypropylene accounts for around 39 percent of all rigid plastics recycling in the U.S.

Manufacturing Process – Segment Analysis

Based on the manufacturing process, thermoforming is expected to grow at a high CAGR over the forecast period owing to its advantages that includes durability, tamper resistivity, and a high degree of structural integrity and design flexibility. Additionally, the increasing use of thermoformed plastic products in the food and pharmaceutical industries due to the high demand for strong seals and durable kinds of packaging is further promoting market growth.

End-Use Industry – Segment Analysis

Based on the end-use industry, the food & beverage segment is projected to hold a major market share. This is primarily due to the rapidly growing food industry, changing lifestyle of consumers coupled with the rising demand for packaged foods and beverages, and the increasing use of plastic packaging for preventing food products such as fruits and dairy products from drying out and external contamination. Additionally, rigid plastic packaging offers long shelf life to the packaged food, lightweight packaging, and prevents food wastage, which is further expected to stimulate the growth of the market.

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Regional – Segment Analysis:

North America is expected to account for a notable share in the market owing to the high economic development increased living and standards of consumers coupled with the rising demand for safe packaging materials. Moreover, according to the American Chemistry Council, Inc., over 60% of people in the U.S. have access to non-bottle rigid container recycling, which further supports the growth of the rigid plastic packaging industry in North America.

Top Market Players

Several leading Rigid Plastic Packaging companies operating in the market, include Sonoco Products Company, Amcor Plc, Berry Global Inc., Coveris, ALPLA Group, Sealed Air Corporation, Reynolds Group Ltd., Plastipak Holdings, Inc., Sonoco Products Company, and Graham Packaging Company among others.

Key Developments:

• • In 2020, Thermoform Engineered Quality, LLC, and Plastique Holdings, LTD, (together TEQ), one of the global manufacturers of thermoformed packaging for healthcare, medical devices, and consumer markets have been acquired by Sonoco Products Company. The legal name for the new company will become SONOCO TEQ.

Segments covered in the Report:

The global Rigid Plastic Packaging market has been segmented on the basis of product, material, manufacturing process, end-use industry, and key regions. Based on product, the market is segmented into bottles and jars, trays and containers, caps & closures, and others. Based on material, the market is segmented into Polyethylene (PE), Polyethylene terephthalate (PET), Polypropylene (PP), Polystyrene (PS) and Expanded polystyrene (EPS), Polyvinyl chloride (PVC), and Others. Based on the manufacturing process, the market is segmented into extrusion, injection molding, blow molding, thermoforming, and others. Based on the end-use industry, the market is segmented into food & beverage, healthcare, cosmetics & personal care, industrial, building & construction, automotive, and others.

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• • At what pace is global Rigid Plastic Packaging market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Rigid Plastic Packaging Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Rigid Plastic Packaging Market?
  • Which product generated maximum revenues in 2020 and identify the most promising product during the forecast period?
  • What are the various end-use industries of global Rigid Plastic Packaging Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Rigid Plastic Packaging Market by Product

• • Bottles and Jars
  • Trays and Containers
  • Caps & Closures
  • Others

Global Rigid Plastic Packaging Market by Material

• • Polyethylene (PE)
  • Polyethylene terephthalate (PET)
  • Polypropylene (PP)
  • Polystyrene (PS) and Expanded polystyrene (EPS)
  • Polyvinyl chloride (PVC)
  • Others

Global Rigid Plastic Packaging Market by Manufacturing Process

• • Extrusion
  • Injection Molding
  • Blow Molding
  • Thermoforming
  • Others

Global Rigid Plastic Packaging Market by End-Use Industry

• • Food & Beverage
  • Healthcare
  • Cosmetics & Personal Care
  • Industrial
  • Building & Construction
  • Automotive
  • Others

Global Rigid Plastic Packaging Market by Region

• • North America Rigid Plastic Packaging Market (Option 1: As a part of the free 25% customization)
    • By Product
    • By Material
    • By Manufacturing Process
    • By End-Use Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Rigid Plastic Packaging Market (Option 2: As a part of the free 25% customization)
    • By Product
    • By Material
    • By Manufacturing Process
    • By End-Use Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Rigid Plastic Packaging Market (Option 3: As a part of the free 25% customization)
    • By Product
    • By Material
    • By Manufacturing Process
    • By End-Use Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Rigid Plastic Packaging Market (Option 4: As a part of the free 25% customization)
    • By Product
    • By Material
    • By Manufacturing Process
    • By End-Use Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Rigid Plastic Packaging Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Sonoco Products Company
  • Amcor Plc
  • Berry Global Inc.
  • Coveris
  • ALPLA Group
  • Sealed Air Corporation
  • Reynolds Group Ltd.
  • Plastipak Holdings, Inc.
  • Sonoco Products Company
  • Graham Packaging Company