Global Rigid Packaging Market Information by Materials (Metals, Plastics, Glass, Paperboard, and Others), by Product (Bottles, Cups & Tubs, Trays and Others), by Application (Food & Beverage, Healthcare, Personal Care, Consumer Goods, and Others), and by Region (North America, Europe, APAC and ROW) – Forecast To 2022
The rising demand for preserved food items and ready-to-cook meals in the era of changing lifestyles has become the reason for the growth of the packaging market. In the recent years the demand for safe and healthy foods has been driving the market.Therefore, materials like metals, plastics, glass, paperboard, pulp, wood, timber, and paper pallets are expected to be in demand.Food and beverages is the dominant industry in the global rigid packaging market. The demand from the healthcare industry is expectedto drive the global rigid packaging market to a large extent, after food & beverages.
Plastic leads the market by material. It is the most preferred material when it comes to packaging due to its properties such as durability, firmness, and light-weight. On the basis of region, Asia Pacific region accounts for the fastest growing market, followed by North America and Europe. The region has seen an increased consumption of rigid packaging market due to the growing urbanization, especially in the emerging nations like India and China. The global rigid packaging market size was valued at around USD 187 billion in 2015 and is expected to cross USD 275 Billion at CAGR of 6% by 2022.
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Regional Analysis of Global Rigid Packaging Market
APAC is the fastest growing market for rigid packaging, followed by North America and Europe. The share of APAC is attributed to the rapid urbanization and population growth. The region is seen with increased investment in healthcare and food safety to support the economic development and changing lifestyles. Development of innovative packaging materials like eco-friendly materials fueled the growth of the market. This further increased the demand for such packaging materials in food and beverages and healthcare industries. North America, Europe, APAC and emerging nations like India, China and Brazil are expected to increase the market.
The rising incomes of average consumers in countries like Japan, Australia, Indonesia, Thailand, and the Philippines is also expected to increase the demand for healthcare, packaged food & beverages, and industrial goods, thereby increasing the consumption of such packaging materials.
The key players of global rigid packaging market report include Amcor Limited, Bemis Company Inc., Berry Plastics Corporation, 3M Company, Ball Corporation, Ardagh Group, Tray Pack Corporation, Nampak Ltd., DS Smith Plc., and Sealed Air Corporation.
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