by The global rigid packaging market is estimated to be valued at US$ 693,808.32 million in 2021 and is expected to exhibit a CAGR of 3.3% over the forecast period 2022 to 2030, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Rigid packaging refers to packaging materials that are sturdy, inflexible, and have a high level of protection. These materials are widely used in various industries such as food and beverage, pharmaceuticals, personal care, and others. Rigid packaging provides durability, strength, and resistance to impact, making it ideal for transporting and storing products. Examples of products associated with rigid packaging include bottles, containers, cans, boxes, and cartons.
B) Market Dynamics:
The market dynamics of the global rigid packaging market can be attributed to two key drivers:
- Growing demand for sustainable packaging solutions:
With increasing environmental concerns, there is a rising demand for sustainable packaging solutions. Rigid packaging offers recyclability, reusability, and reduced material usage, making it an environmentally-friendly choice. Consumers are becoming more conscious of the environmental impact of packaging and are actively seeking products that are packaged sustainably.
For example, companies like Amcor Limited and DS Smith Plc. have been focusing on developing innovative sustainable packaging solutions that reduce waste and minimize carbon footprint. This trend is expected to drive the growth of the rigid packaging market.
- Increasing consumer awareness regarding product safety and quality:
Consumers are increasingly concerned about the safety and quality of products they consume. Rigid packaging provides a higher level of protection, ensuring the integrity of the product during transportation and storage. This is particularly important for sensitive products such as pharmaceuticals and perishable goods.
For instance, companies like Sealed Air Corporation and Silgan Holdings specialize in providing Rigid Packaging Market solutions that offer superior protection and extend the shelf life of products. The growing emphasis on product safety and quality is expected to boost the demand for rigid packaging.
C) SWOT Analysis:
– Strengths:
- Sustainable packaging solutions
- Enhanced product protection
Weaknesses:
- High upfront costs of rigid packaging materials
- Limited flexibility compared to flexible packaging options
Opportunities:
- Increasing demand from e-commerce industry
- Technological advancements in packaging materials
Threats:
- Intense competition from flexible packaging alternatives
- Stringent regulations regarding plastic packaging waste
D) Key Takeaways:
Market size:
- The global rigid packaging market is expected to witness high growth, exhibiting a CAGR of 3.3% over the forecast period, due to increasing demand for sustainable packaging solutions and growing consumer awareness regarding product safety and quality.
Regional analysis:
- North America is expected to dominate the global rigid packaging market due to the presence of key players such as Amcor Limited and Berry Plastics Corporation. Asia Pacific is anticipated to be the fastest-growing region, driven by the booming e-commerce industry and rising disposable income of consumers.
Key players:
- Key players operating in the global rigid packaging market are Amcor Limited, DS Smith Plc., Holmen AB, Plastipak Holding, Berry Plastics Corporation, Reynolds Group Holdings Limited, Sealed Air Corporation, Resilux NV, Sonoco Products Company, and Silgan Holdings. These companies are constantly focusing on research and development activities to develop innovative packaging solutions and expand their market presence.
In conclusion, the global rigid packaging market is experiencing significant growth due to the increasing demand for sustainable packaging solutions and rising consumer awareness regarding product safety and quality. With key players continuously innovating and expanding their offerings, the market is expected to witness continued growth in the coming years.
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
