The Global Rigid Plastic Packaging Market is projected to reach a value of over USD 334.0 billion by 2027 at a CAGR of around 4.6%.
Rigid plastics packaging is a type of packaging technique that involves the usage of plastic material. The material which exhibits no elastic deformation and perfect plastic deformation is known as rigid plastic material. Rigid plastic packaging comprises of cups, closures, cans, pots, and many others. Durability, cost, longevity, absorption of flavors, and lightweight are some of the benefits offered by rigid plastic packaging. Moreover, high impact strength, high stiffness, and high barrier properties are some of the superior properties offered by rigid plastic packaging which has led to an increase in the global demand.
Market Driver:
Rise in disposable income owing to growth in the economy especially in emerging countries such as China and India has expected to increase the demand for convenience and processed food & beverages. The increasing working population has attributed a higher demand for processed food in developing nation and higher consumption of convenience food. Furthermore, COVID-19 pandemic is another driving factor for changing the lifestyle of consumers towards consuming convenience foods because most nations are forced to restrict movement and lockdown their borders. Thus, growing demand for processed and convenience food & beverages has expected to drive the growth of rigid plastic packaging during the forecasted period.
Market Restraint:
Stringent regulation has been imposed by the various federal government to regulate food, drugs, and cosmetic packaging to preserve consumer safety and confidence. For instance, the Federal Food, Drug, and Cosmetic Act of 1938 aimed to protect consumers from unsafe deceptively labeled or packaged products. Moreover, various regulatory programs introduced by states and local jurisdictions to reduce the use and disposal of certain packaging material, and mandate minimum recycling requirement. For instance, the U.S. Food & Drug Administration’s (FDA), “Points to Consider for the Use of Recycled Plastics in Food Packaging: Chemistry Considerations”, which states the use of recycled polymers is permissible if it is of a type previously permitted for food-contact, has been kept free of contaminates during the recycling process, and the recycled material has been tested to establish suitable purity for reuse in food packaging. Thus, stringent regulations imposed by the federal government to regulate food, drugs, and cosmetic packaging has expected to hinder the growth of the market during the forecasted period.
The report on the rigid plastic packaging market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million), Volume (Kiloton) |
Segments Included |
Raw Material, Type, Production Process, End-use, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Rigid Plastic Packaging Market, by Raw Material
Rigid Plastic Packaging Market, by Type
Rigid Plastic Packaging Market, by Production Process
Rigid Plastic Packaging Market, by End-use
Rigid Plastic Packaging Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE RIGID PLASTIC PACKAGING MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY