Rigid Packaging for Food and Beverages: Market Strategies by 2022-2030

The rigid packaging market will increase from USD 271,682.7 million in 2022 to USD 430586.9 million in 2030, growing at a 6.8% compound annual growth rate (CAGR) during the course of the forecast period (2022 – 2030).

Market Research Future Insights:

According to market research, during the past few years, recycling and reusing packaging materials has attracted significant attention on a global scale. Recycling is the process of turning waste into a product that may be used again. Recycling rigid plastic packaging lowers the need for raw materials while lowering greenhouse gas emissions and air and water pollution. Of the 40 million tonnes of plastic waste produced in the U.S. in 2021, just 5% to 6%, or around two million tonnes, were recycled. Plans to reduce plastic waste through recycling have been developed by numerous governments and business stakeholders. As a result, the worldwide rigid packaging market’s CAGR has increased in recent years due to the trend of recycling plastic.

Trends including a growth in the percentage of working women and the predominance of nuclear and dual-income households, particularly in urban areas, have an impact on how most consumers in emerging economies live their lives. Women’s participation in the labour reached a peak in 2021 at 57.8%, the highest level since March 2020, the first month of the epidemic, according to market statistics. The market for rigid packaging has expanded, which has an impact on the rigid plastic packaging market. Busier lifestyles have increased the demand for on-the-go products that reduce cooking time. Increased disposable income and rising packaged-goods consumption would also increase the demand for rigid packaging in emerging economies.

Governments are funding healthcare systems in developing countries on various continents to combat the outbreak, according to a market analysis. The global need for rigid plastic packaging is predicted to rise as the healthcare sector develops. For instance, by 2030, the Chinese healthcare industry would be worth 16 trillion RMB (USD 2.3 million), according to the staff research report for the “US-China Economic and Security Review Commission.” Another factor boosting the income of the rigid packaging market is the developing healthcare sector.

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Regional Analysis:

The analysis offers market insights for rigid packaging in each of the following regions: Europe, North America, Asia-Pacific, and the Rest of the World. The market for rigid packaging in Asia-Pacific, which had sales of USD 106,587.14 million in 2021, is anticipated to increase at a substantial CAGR over the research period. Because rigid packaging is used in the food, beverage, and healthcare industries, the market is anticipated to grow quickly. In addition, the Indian rigid packaging market had the quickest rate of growth in the Asia-Pacific region, while China’s rigid packaging industry had the largest market share.

Additionally, the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil are among the important nations covered in the rigid packaging market report.

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Market Segmentation:

Metals, plastics, glass, and paperboard are among the materials included in the global market segmentation. In terms of revenue, the plastic sector accounted for the lion’s share of the worldwide rigid packaging market in 2021. Plastic is a favoured material for producing stiff packaging products due to its incredible strength and durability. Paper was one of the most widely used materials. Products with both hard and flexible packaging can be produced using it. Because they can be recycled, paper and paperboard are commonly used in the industry.

The global rigid packaging market has been divided into segments for bottles and jars, trays, boxes, containers, and cans based on product. The bottles and jars category dominated the global rigid packaging market in terms of value. Juice, soda, sparkling water, cuisine, personal care, cosmetics, and pharmaceuticals a few examples of items that come in stiff plastic bottles. The boxes experienced substantial growth as well. The market for rigid packaging has grown in size, and demand has expanded as e-commerce among emerging nations has grown. Therefore, expanding e-commerce applications have a beneficial effect on the growth of the rigid packaging industry.

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Key Players:

The key players in rigid packaging market are:Vetropack Holding, Brambles, IPL Plastics, Schoeller Allibert, Schutz GmbH Menasha Corporation and Co, DS Smith, and Myers Industries

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