Rigid Plastic Packaging Market Expected to Secure Notable Revenue Share Between 2022 and 2030 – The Bollywood Ticket

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The description

the global rigid plastic packaging market was rated at $192,070.0 million in 2021 and should reach $281,619.9 million by 2030growing at a CAGR of 4.9% from 2022 to 2030. Rigid plastic packaging involves the use of plastic material for packaging. These materials are widely used to produce trays, containers, boxes, cases and other plastic packaging. Plastic is among the most widely used packaging materials due to its innovative visual appeal and durability. Rigid plastic packaging offers unique advantages such as rigidity, high impact resistance and high barrier properties, a boon for the market. Although rigid packaging has been around for many decades, it continues to evolve to meet the needs of an ever-changing consumer landscape..

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Consumer goods is a highly fragmented industry where product differentiation and packaging play a key role. A rise in global consumption of consumer goods is fueling demand for rigid plastic packaging. Additionally, improving packaging recycling rates globally will drive the growth of the market. Additionally, rigid plastics are used in a wide range of packaging due to their cost.efficiency. However, the main constraint for the rigid plastic packaging market is related to plastics. Plastics have several harmful effects on the environment and people. There have been several calls from organizations on banning plastics. The ban on plastic packaging would negatively affect the growth of the market. Also, the increase in ecommercial sales would provide lucrative growth opportunities for market growth.

Plastics play an important role in the packaging industry for functional and economic reasons. Plastics are relatively cheaper and lighter than other packaging materials. Rigid plastics are used in a wide range of packaging due to their costefficiency. Besides cost, their versatility and ability to perform exceptionally well at low temperatures are also driving the market for rigid plastics in packaging.. One of the main examples is the trend to replace glass with rigid plastics to meet the high demand for bottles.. Heat-resistant, high-barrier plastics replace traditional materials such as metal and glass.

Global Rigid Plastic Packaging Market Dynamics

Drivers: Improved packaging recycling rates

The reuse and recycling of packaging materials has received considerable global attention in recent years.. Recycling refers to the conversion of any waste into a reusable material. Packaging recycling is very present for PET bottles and HDPE milk bottles. Recycling rigid plastic packaging reduces the consumption of raw materials, resulting in less water and air pollution. Thus, contributing to the reduction of greenhouse gases. With recycled packaging materials, CO2 emissions can also be controlled. Rigid plastic packaging materials have seen significant recycling rates. Many governments and industry players have formulated plans to tackle plastic waste by recycling it.

Constraints: Uncertain commodity prices

Some of the leading raw material packaging companies use cardboard, paper, aluminum, polymer, glass and steel. These materials are used for both consumer and industrial packaging. The fluctuating prices of these raw materials place packaging companies in a potentially vulnerable position in the value chain.. The main material suppliers are usually large companies, which have the power to pass on their higher raw material costs, leading to higher material prices, which in turn raises input prices.

On the buyer side, packaging companies have to supply their products to large and powerful consumer goods companies, which cannot pass on price increases to end consumers, thus using the threat of change to maintain online providers. Fluctuating prices and unavailability of certain raw materials in certain geographies are higher costs for rigid packaging manufacturers.

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Opportunities: Rise in eworldwide commercial sales

Eretail sales increased by 18% from 2017 to 2018. The boom of ethe trade offers huge potential for the future growth of the retail trade globally, which in turn is accelerating the growth of the rigid plastic packaging industry. In recent years, thcommerce has become a preferred mode of purchase for many consumers, primarily due to advances in technology. The rigid plastic packaging industry is mitigating its supply by being ahead of the technology curve and adapting to the different sets of challenges presented by the etrade industry versus traditional sales channels. Packaging companies design packaging that must be durable enough to withstand the often complex manual and automated supply chains involved in delivering products to consumers. Door step. The development of thCommerce Industry Presents Widespread Opportunity for Rigid Plastic Packaging Market.

Report scope

The study categorizes the rigid plastic packaging market based on material and purposeregional and global users.

By Material Perspectives (IncomeUSD million, 20172030)

By EndUsers Outlook (Revenue, USD million, 20172030)

  • Food and drink
  • Personal care
  • Housework
  • Health care
  • Others

Outlook by region (IncomeUSD million, 20172030)

  • North America (United States, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia Pacific)
  • The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)

The PET segment expected to account for the largest market share, by material

On the basis of type, the global rigid plastic packaging market is segmented intopolyethylene terephthalate (PET)polypropylene (polypropylene)Highdensity polyethylene (HDPE)and others. In 2021, the PET segment accounted for the largest market share of 70.1% in the global rigid plastic packaging market. Polyethylene terephthalate is a thermoplastic polymer resin. It is combined with fiberglass for engineering resins, fibers for clothing, thermoforming for manufacturing, and food and beverage containers..

Polyethylene terephthalate (PET) is among the important commercial polymers with applications ranging from electronics packaging, automotive parts and others. PET rigid plastic packaging offers significant advantages over other types due to its recycling and reuse capabilities. It includes soft drink cans, tin cans, drums and pails, aerosol containers, tubes, etc.. Additionally, recycled PET can be converted into fabrics, fibers and sheets for manufacturing and packaging automotive parts.. PET recycling rate changed to 0.8% from 2016 to 2017. This increase reflects market growth opportunities.

Asia Pacific represents the highest CAGR over the forecast period

The report segments the global rigid plastic packaging market into five key regions: North America, AsiaPacific, Europe, South America, Middle East and Africa. Globally, Asia-Pacific is estimated to have the highest CAGR of 6.4% in the Global Rigid Plastic Packaging Market Over the Forecast Period. China is the leading market for rigid plastic packaging in AsiaPacific and is expected to witness significant growth during the forecast period and India, owing to strong demand for plastic products and components. Additionally, the demand for rigid plastic packaging is mainly driven by the growth of the soft drink market.

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After Aisa Pacific, North America is the fastest growing region with a CAGR of 5.1% during the forecast period. In North America, there has been a huge customer shift towards environmentally friendly packaging which has increased the use of recycled plastics such as LDPE. Other factors driving the growth of the rigid plastic packaging market in North America include the surge in demand for packaged foods, primarily due to developing markets, increased consumer awareness and concerns related to stricter legislation and control..

Main market players

DS Smith Plc, Amcor Limited, Berry Plastics Corporation, ALPLAWerke Alwin Lehner GmbH & Co KG, Klöckner Pentaplast, Reynolds Group Holdings, RPC Group Plc, Silgan Holdings, Inc.Plastipak Holdings, Inc..and Sonoco Products Company are among the prominent companies reviewed in this article. Based on geographical analysis, the research examines the Rigid Plastic Packaging market in terms of development opportunities and restraints.. Porter’s Five Forces Analysis of the industry is used in the research to identify the influence of suppliers, rivals, new entrants, substitutes and buyers on the growth of the market.

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