Global Rigid Plastic Packaging Market: Rise in global consumption of consumer goods fuels the demand for rigid plastic packaging.

Published Date: 07/05/2021

Global Rigid Plastic Packaging Market to Reach USD 247,746.18 million by 2020 and is expected to reach USD 355,882.79 million by 2027 growing at a CAGR of 5.3%. The base year considered for the study is 2020 and the market size is forecasted from 2021 to 2027. The primary objective of the study is to define, segment, and project the rigid plastic packaging market size on the basis of material, material, production process, end user industry, and region. The study also aims at strategically analyzing micro markets with respect to individual growth trends, future prospects, and their contribution to the total market. It also provides detailed information about the main factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). In addition to this, the study analyzes competitive developments such as partnerships, agreements, contracts, and joint ventures; mergers & acquisitions; expansions; new product developments; and R&D activities in the rigid plastic packaging market.

The market ecosystem involves various stakeholders in the rigid plastic packaging market. It starts with the raw material suppliers such as Bemis Company, Inc. (U.S.), Amcor Limited (Australia), Tray Pack Corporation (U.S.), and Lacerta Group, Inc. (U.S.) who provide the required raw materials to the manufacturing companies. The next level in the chain involves the manufacturing and the assembly team. This is taken care of by the manufacturers such as RPC Group Plc (U.K.), Alpla Wereke, Alwin Lehner GmbH & Co. Kg (Austria), Consolidated Container Company (U.S.), Coveris Holdings S.A. (Luxembourg), Plastipak Holdings, Inc. (U.S.), and Silgan Holdings, Inc. (U.S.). After this, the marketing and sales of the finished products takes place, which is only possible if an efficient distribution channel is developed. Finally, the end products are distributed to the consumers.
Moreover, rise in global consumption of consumer goods fuels the demand for rigid plastic packaging. The consumer-packaged goods (CPG) industry has witnessed a significant growth over the past quarter century, which was largely driven by developing markets due to consumer expenditure growth. The consumer goods sector includes a wide range of retail and wholesale products purchased by consumers such as food, clothing, luxury items, and electronics. However, rise in end-user shift toward flexible packaging and uncertain raw material prices hinders the rigid plastic packaging market growth.