The global rigid packaging market was worth USD 621.16 billion in 2023 and is projected to reach USD 1049.44 billion by 2032, with a revenue compound annual growth rate (CAGR) of 6% during the forecast period. The growth of the market can be attributed to the demand for packaged food and beverage items, the popularity of online shopping, and the need for environmentally friendly and sustainable packaging solutions. Moreover, the rigid packaging market is also seeing a rise in the use of sustainable materials such as bamboo and corn flour, and there is increasing demand for pharmaceutical and healthcare items.
However, factors such as rising demand for sustainable packaging solutions, which can be more expensive to produce than traditional packaging materials, and the volatility in raw material prices, such as plastics, aluminum, and glass, can limit the market revenue growth. The global rigid packaging market is segmented into material type (plastic, metal, glass, paperboard, and others) and product type (bottles, cans, cartons, boxes, and others).
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Major Companies and Competitive Landscape:
Some of the major companies included in the global market report are
- Amcor Limited
- Ball Corporation
- Berry Global Inc.
- Crown Holdings Inc.
- Mondi plc
- Owens-Illinois Inc.
- Sealed Air Corporation
- Sonoco Products Company
- Stora Enso Oyj
- WestRock Company
The plastic segment is expected to account for the largest revenue share during the forecast period, while the metal segment is projected to register a significantly high revenue CAGR. The bottles segment is expected to account for the largest revenue share based on product type, while the can packaging segment is expected to register the fastest revenue CAGR during the forecast period.
Innovation of Rigid Packaging Market:
One notable innovation in the rigid packaging market is the development of biodegradable and compostable plastics. These materials offer a sustainable alternative to traditional plastic packaging and can break down into natural elements when disposed of properly. This innovation is in response to the growing demand for sustainable packaging options and is expected to drive market growth in the coming years.
Another innovation in the rigid packaging market is the use of smart packaging technology. This technology allows packaging to interact with consumers, providing information about the product, tracking its journey from production to delivery, and even indicating when the product has expired. This innovation is particularly useful in the food and beverage industry, where consumers are increasingly concerned about the safety and freshness of their products.
In addition, advancements in manufacturing processes and materials are leading to the development of lighter, stronger, and more durable rigid packaging solutions. For example, lightweight plastics and metals are being used to reduce the weight of packaging, making it easier and more cost-effective to transport. Advanced coatings and laminates are also being developed to improve the durability and shelf life of products.
Overall, these innovations are driving growth and transformation in the rigid packaging market, allowing manufacturers to offer more sustainable, convenient, and reliable packaging solutions to meet the evolving needs of consumers and industries.
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Market Segmentation:
Segments covered by Material Type Outlook, Product Type Outlook, End-Use Outlook, Regional Outlook
By Material Type Outlook
- Plastic
- Metal
- Glass
- Paperboard
- Others
By Product Type Outlook
- Bottles
- Cans
- Cartons
- Boxes
- Others
By End-Use Outlook
- Food Beverages
- Healthcare
- Personal Care
- Industrial
- Others
Regional Outlook
The key regions covered in the report are as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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