Rigid Packaging Market Market Is Anticipated To Be The Highest Revenue-Generating Segment, At A CAGR Of Over 6.80%

Rigid packaging is used in a variety of industries, including pharmaceuticals, food and beverages, electronics, hygiene products, and many others. The food and beverage market is a significant customer of rigid packaging products. Rising usage of easy and ready-to-eat food items is expected to propel the market forward in the near future.

The rigid packaging market is expected to be valued at USD 4,06,100 million by 2030, growing at a 6.80% CAGR over the forecast period. (2022-2030) The massive expansion of the food and beverage industry is driving the economic development of the rigid plastic packaging market, which in turn drives demand for bottles, jars, fruit juice containers, food package cartons, and foodie sachets.

Furthermore, due to the increased demand for plastic packaging solutions, rigid plastic packaging methods are utilised in a broad range of business sectors, such as agricultural production, healthcare, personal care, and pharmaceuticals.

Regional Analysis

The medical industry is expanding rapidly in nations such as the United Kingdom, the United States, and India, owing to rising government investment in this industry.

Asia Pacific led the plastic packaged food market with a profit share of more than 43.0% in 2021; the segment is projected to grow at the highest rate from 2022 to 2030. During the projected time frame, quickly evolving app sectors in vital markets such as China, India, Vietnam, South Korea, and Thailand are supposed to propel the market in this region.

In terms of both demand and production, China dominated the market in Asia-Pacific. The nation’s large population, which encourages the growth of the food and beverage, automotive, personal care, construction, and consumer electronics industries, is expected to be a major driver for the sector’s development.

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Market Segmentation

The rigid plastic sector is divided into bottles and jars, cans, trays, and containers, caps and closures, and so on. Because of their minimal price, accessibility, and outstanding quality, plastic bottles are widely used in beverage bottles. Trays and containers, on the other hand, are used in the foodservice and packaged food industries due to their lighter weight and aesthetic appeal. Adaptable packaging is even further classified into four sub-categories: wraps and films, bags, pouches, and others. Pouches are in high demand because they require less plastic material to manufacture than rigid goods such as bottles and jars.

Key Players

Some prominent players in the global plastic packaging market include Amcor plc, Sealed Air,Coveris, Berry Global Inc., Mondi, Sonoco Products Company, WINPAK LTD, CCL Industries, Inc, Constantia Flexibles, Alpha Packaging.

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