Global Rigid Plastic Packaging Market: Key Highlights
Global Rigid Plastic Packaging Market: Key Market Dynamics
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Global Rigid Plastic Packaging Market: Regional Overview
North America is anticipated to grow at a substantial growth rate in the rigid plastic packaging market. Robust growth in the food & beverage industry is one of the major factor propelling the regional growth. For instance, according to the Government of Canada, the Canadian food & beverages processing industry is the world’s second-largest manufacturing industry in terms of the value of production and sales of goods manufactured was valued USD 117.8 billion in 2019. Additionally, exports of processed food and beverages was valued USD 38.9 billion in 2019 with an increase of 7% over 2018. Moreover, regulations regarding recycling and sustainability of materials in order to maintain environmental balance have triggered thes demand for bioplastic packaging solutions.
The Asia-Pacific is anticipated to be the fastest-growing region in rigid plastic packaging market during the forecasted period. This growth can be attributed to growing urbanization and industrialization in emerging economies such as India, China and Japan. Additionally, these economies also lead in the export of goods to various parts of world. For instance, according to Agricultural & Processed Food Products Export Development (APEDA), India’s export of processed food was USD 424.25 million in 2019. Additionally, according to United States Department of Agriculture, China’s food processing industry grew by 6.3% in 2017, and food export in 2017 was valued USD 62.6 billion.
Global Rigid Plastic Packaging Market: Key Players Overview
Amcor plc is engaged in developing and producing responsible packaging solutions. The company offers packaging solution for beverage, food, healthcare, home care, persona care, pet care, and technical application. The company operates through two business segments namely Flexible packaging, and rigid packaging. Amcor plc has 250 manufacturing sites located in more than 40 countries across the globe. In February 2018, Amcor plc launched commercial container by utilizing LiquiForm technology. This will help to improve packaging consistency and lower the carbon footprint associated with filling and packaging.
ALPLA is one of the global leaders in developing and producing plastic packaging solutions. The company offers packaging system, bottles, closures, injection moulded parts, performs, and tubes products for various markets such as food, beverages, milk & dairy, beauty care, home care, oil & lubricants, and pharmaceuticals. ALPLA has 181 production facilities, including 71 in-house located in more than 46 countries. In May 2020, the company acquired Bopla S.A., expertise in the area of single-stage manufacturing technologies. This acquisition will strengthen the product portfolio in cosmetics, personal, and household care market.
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