Global rigid packaging market is valued at USD 577.34 billion in 2015 and is expected to reach USD 750.57 billion by 2021, growing at a CAGR of 4.5% from 2015 to 2021.
Albany, NY -- (SBWIRE) -- 01/08/2016 -- The global rigid packaging market has shown steady growth during the past few years. This trend is anticipated to continue during the forecast period due to increasing consumer spending on packaged goods worldwide. In addition, growth in manufacturing output and other demographic trends including rising urban population, and changing dietary habits of consuming packaged foods is expected to fuel the growth of this market over the forecast period. Rising demand for rigid packaging is also supported by the expanding and extensive recycling infrastructure available for plastics, glass, and metal. Rigid packaging helps to keep finished goods and products safe for a longer period of time to enable transportation and distribution across huge distances. It is used to package in many different forms such as aerosol containers, cups, corrugated cases, bottles, cans, aluminum bottles, ampules, and jars. Furthermore, rigid packaging has many unique properties such as high stiffness, high impact strength, and higher barrier properties. All these properties mentioned above have led to the growing demand for rigid packaging in recent years.
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Increasing popularity of packaging media provides a longer shelf life to finished food items and other products such as cosmetics and toiletries. Thus, it is a driving factor for the growth of global rigid packaging in the food and beverage industry. Increasing international trade that has led to a boost in investment in quality packaging is also driving the food and beverage industry. Furthermore, demand for rigid packaging increases due to growing demand for processed and convenience food products such as snacks, processed meat and fish, and cakes to prevent microbial and bacterial spoilage. Health conscious consumers opt for healthy and safe packaging of foods and beverages that helps them to keep fit and healthy. Apart from this, stringent government regulations across different countries restrain the growth of the food packaging market in different regions such as Europe and North America. Different organizations including FDA (Food and Drug Administration) have set strict safety standards to determine whether a packaging is safe enough for its intended use. Rigid packaging find its application in various sectors such as medicines; cosmetics; home appliances; industrial packaging; and durable goods such as furniture, firearms, and toys in the near future.
In this report, the global rigid packaging market is categorized into three segments: (i) by raw material type; (ii) by application and (iii) by geography. Based on raw material type, the market has been segmented into metal, plastics, paperboard, and glass among others. On the basis of application type, the market is further divided into food and beverages, durable goods (home appliances, furniture, firearms, and toys), pharmaceuticals, industrial packaging (automotive equipment, consumer electronics, sports equipment, footwear boxes etc), and cosmetics and toiletries among others. The report also covers drivers, restraints, and opportunities (DROs) of the rigid packaging market. The study highlights current market trends and provides forecast for the period from 2015 to 2021. We have also covered the current market scenario for global rigid packaging, and highlighted future trends that are likely to affect its demand.
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By geography, the market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Further, each region is segmented country-wise to highlight the respective market share of rigid packaging in each country. The study covers major countries such as the U.S., Canada, and Mexico in North America; Japan, China, and India in Asia Pacific; the U.K., Italy, and France in Europe; and Latin America, Africa, and the Middle East in RoW. The market size and forecast for the period from 2015 to 2021 has been provided in the report.
The market attractiveness analysis provided in the report highlights key investing areas in this industry. The report will help rigid packaging manufacturers, suppliers, and distributors to understand the current and future trends in this market and formulate their business strategies accordingly.
Some of the key players in this market include Tetra Pak International, Crown Holdings, Inc., DS Smith Plc, Berry Plastics Corporation, Ball Corporation, Reynolds Group Holdings Limited, ALPLA Werke Alwin Lehner GmbH & Co KG, Rexam PLC, Amcor Limited, Holmen AB, and Georgia-Pacific LLC among others.
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