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Rising Demand for Packaged Food Fueling Global Rigid Packaging Market at 4.50% CAGR from 2015 to 2021

Rigid Packaging Market By Raw Material Type (Metal , Plastic ,Paperboard ,Glass ) By Application (Food and Beverages , Pharmaceuticals ,Durables Goods ,Cosmetics and Toiletries,Industrila Packaging) - Global Industry Analysis, Size, Share, Growth and Forecast 2015 - 2021


Albany, NY -- (SBWIRE) -- 03/31/2016 -- Transparency Market Research announces the release of a new research report titled "Rigid Packaging Market - Global Industry Analysis, Size, Share, Growth and Forecast 2015 - 2021". The report indicates that expanding at a 4.50% CAGR from 2015 to 2021, the global rigid packaging market is anticipated to grow from US$549.7 Bn in 2014 to US$750.5 Bn by 2021. This market is driven by the rising usage of rigid packaging in the pharmaceuticals and food and beverages industries.On the basis of raw material type, the rigid packaging market is segmented into plastics, metal, glass, paperboard, and others including timber, wood, paper pellets, and pulp. Accounting for a share of 41.20% of the overall market, plastics was the leading raw material segment and is anticipated to register a 4.30% CAGR from 2015 to 2021. Rising at a 4.70% CAGR, paperboard is projected to be the fastest growing segment by the end of the forecast period.

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Application-wise, the market for rigid packaging is categorized into pharmaceuticals, food and beverages cosmetics and toiletries, durable goods such as furniture, home appliances, and firearms, industrial packaging for consumer electronics, automotive equipment, footwear, sports equipment, and others, and added applications such as jewelry boxes and stationery products. Food and beverages held the largest share of the overall rigid packaging market and this application segment is estimated to register a 4.30% CAGR by 2021. Pharmaceuticals, on the other hand, will emerge as the most rapidly developing segment during the forecast period, exhibiting a 5.40% CAGR.

Geographically, the global rigid packaging market is divided into North America, Europe, Asia Pacific, and Rest of the World. Accounting for a 41.20% share of the overall market in 2014, Asia Pacific has emerged as the dominant regional market for rigid packaging, driven primarily by the thriving food and beverages industry. In addition, growing population in countries such as India and China and increasing gross domestic product (GDP) has also contributed toward the development of the rigid packaging market in Asia Pacific.

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North America is the second largest market and held a 26.20% share of the worldwide rigid packaging market in 2014. However, this region, as well as the European region, has reached a point of saturation. As a result, both these regional markets are anticipated to witness average growth over the next six years.

The topmost players operating in the global rigid packaging market include Resilux NV, Berry Plastics Corporation, Ball Corporation, Tetra Pak International, Holmen AB, Reynolds Group Holdings Limited, Amcor Limited, Rexam PLC, Georgia-Pacific LLC, Crown Holdings, Inc., ALPLA Werke Alwin Lehner GmbH & Co KG, and DS Smith Plc.Each of these companies has been profiled in the rigid packaging market report on the basis of attributes such as company overview, business strategies, recent developments, financial standing, and SWOT analysis.

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