The Rigid Packaging Market as per the SNS Insider report, recorded a size of USD 214.74 billion in 2023. It is anticipated to achieve a valuation of USD 305.39 billion by 2031, experiencing a compound annual growth rate (CAGR) of 14.2% throughout the forecast period from 2024 to 2031.
Market Report Scope
Rigid packaging materials such as bioplastics, paper & paperboard, wood, metals, plastic, glass, and others are witnessing a surge in demand due to factors like the increasing demand for packaged food and beverages, growth in demand for premium packaging, and advancements in packaging printing technologies. The market is driven by the need for convenient and sustainable packaging solutions, as well as the desire for innovative and eye-catching designs. The versatility and durability of rigid packaging materials make them ideal for protecting products and enhancing their shelf appeal, further fueling the growth of the market.
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Key Players:
- DS Smith
- Vetropack Holding
- Myers Industries
- Brambles
- Schoeller Allibert
- Schutz GmBH and Co
- IPL Plastics
- Menasha Corporation
- Aramco
- Berry Global
Market Analysis
The rigid packaging market is experiencing significant growth due to the rising demand for packaged food and beverages. With the food and beverage sector witnessing steady growth, there is a heightened need for high-quality packaging solutions that offer protection and preservation for products. The rigid packaging industry is benefitting from this trend, particularly in the food and beverage sector, where consumers are increasingly opting for convenient and safe packaging options.
The demand for rigid packaging is driven by its ability to provide a durable and protective barrier against external factors, ensuring the integrity and quality of the products inside. This has led to an increase in the adoption of rigid packaging solutions by food and beverage companies looking to enhance the shelf life and appeal of their products. As a result, the rigid packaging market is experiencing robust growth and is expected to continue expanding in the foreseeable future.
Segment Analysis
Plastic is the most prevalent material in the rigid packaging market, with a market share exceeding 40% in 2022. Bottles & Jars are the top product category, while the Food & Beverage sector has the largest market share in terms of applications. Plastic’s versatility and cost-effectiveness have contributed to its widespread use in rigid packaging solutions. Its durability and convenience make it a popular choice for various industries, including food and beverage packaging. As consumers continue to prioritize sustainability, there is a growing interest in eco-friendly alternatives to plastic in the rigid packaging market
By Material
- Plastic
- Metal
- Glass
- Paperboard
- Others
By Product Type
- Bottles & Jars
- Trays
- Containers
- Tubs
- Cans
By Application
- Food & Beverage
- Personal Care
- Consumer Goods
- Healthcare
Impact of Russia-Ukraine War
The ongoing war has resulted in significant disruptions to the supply chain, leading to shortages of packaging materials and soaring prices. Raw material costs for rigid packaging have skyrocketed, impacting transportation expenses and production in Europe as a result of reliance on Russian gas. These challenges have created a domino effect throughout the industry, hampering businesses’ ability to maintain consistent operations and meet consumer demands. As a result, companies are facing mounting pressures to adapt to the changing circumstances and find alternative solutions to mitigate the impact of these supply chain challenges.
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Impact of Ongoing Recession
The recession is forecasted to decrease demand for rigid packaging, particularly in industries such as food and beverages. Consumers and businesses are turning to more cost-effective packaging options, resulting in a decline in the use of materials like plastic and metal in rigid packaging. This shift towards more economical solutions is expected to have a significant impact on the demand for rigid packaging products as companies look to reduce expenses during the economic downturn.
Key Regional Development
The Asia Pacific region dominates the rigid packaging market, fueled by the growth of the pharmaceutical and food industries. Europe is following closely, with a strong emphasis on eco-friendly packaging solutions. In North America, significant growth is anticipated due to strict regulations governing packaging materials. The market is witnessing increased demand for rigid packaging solutions that prioritize sustainability and durability, driving innovation in material and design technologies. Overall, the global rigid packaging market is expected to continue expanding, with each region contributing unique strengths and opportunities for growth.
Key Takeaways for Rigid Packaging Market Study
- Surge in demand for sustainable packaging solutions is driving growth in the rigid packaging market.
- Asia Pacific is the leading region for the rigid packaging market, driven by increased demand from the food and beverage industry.
- The ongoing recession is expected to impact demand for rigid packaging materials like plastic and metal.
Recent Developments
- Berry Global is developing a new Sustainable Rigid Packaging solution derived from plant materials for compostable and recyclable packaging.
- Aramco successfully acquired a 70% shareholding in Saudi Basic Industries Corporation from the Public Investment Fund.
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Table of Contents
1 Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2 Research Methodology
3 Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4 Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
4.3 Supply Demand Gap Analysis
5 Value Chain Analysis
6 Porter’s 5 forces model
7 PEST Analysis
8 Rigid Packaging Market Segmentation, By Material
8.1 Plastic
8.2 Metal
8.3 Glass
8.4 Paperboard
8.5 Others
9 Rigid Packaging Market Segmentation, By Product Type
9.1 Bottles & Jars
9.2 Trays
9.3 Containers
9.4 Tubs
9.5 Cans
10 Rigid Packaging Market Segmentation, By Application
10.1 Food & Beverage
10.2 Personal Care
10.3 Consumer Goods
10.4 Healthcare
11 Regional Analysis
12 Company profile
13 Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14 Use Case and Best Practices
15 Conclusion
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