MarketsandMarkets projects that the rigid plastic packaging market size by value will grow and reach USD 262.68 Billion by 2021 at a CAGR of 5.71% between 2016 and 2021. The market is growing in accordance with the growth trends of the converting and packaging industries. Factors such as increase in demand from fresh food & beverages, home & personal care goods, and pharmaceutical industries; and growth of the retail industry have driven the global rigid plastic packaging market.
Seattle, WA -- (SBWIRE) -- 02/03/2017 -- The report "Rigid Plastic Packaging Market by Raw Material (PE, PET, PP, PVC, EPS, PS, Bioplastics), Type (Bottles & jars, Trays, Tubs, Cups & Pots), Production Process (Extrusion, Injection Molding), Application, and Region - Global Forecast to 2021", The rigid plastic packaging market size is projected to grow from USD 189.43 billion in 2015 to reach USD 262.68 Billion by 2021, at a CAGR of 5.71%
Browse 113 market data tables and 60 figures spread through 193 pages and in-depth TOC on "Rigid Plastic Packaging Market - Global Forecast to 2021"
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The global rigid plastic packaging market is driven by factors such as cost-effectiveness of rigid plastic packaging, strong growth in the food & beverage industry, and increase in consumer expenditures for packaged products. The growth in healthcare industry and increase in demand for packed products present a great opportunity for this market to grow in the future. The rigid plastic packaging market is witnessing demand, owing to the rise in manufacturing activities.
Beverage segment projected to be the largest-growing during the forecast period
The beverage segment is projected to be the largest-growing in the rigid plastic packaging market on the basis of end-use industry, and this trend is projected to continue during the forecast period. The expectations of quality, hygienic products, and growth in health awareness are driving the rigid plastic packaging market in the beverage sector.
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PE is projected to be the largest-growing segment during the forecast period
Rigid plastic packaging market, on the basis of material, has been classified into PE, PET, PP, PS, PVC, EPS, and bioplastics. The PE segment accounted for the largest share in 2015 due to its numerous benefits such as ease of processing, barrier to moisture, strength/toughness, flexibility, and ease of sealing.
Asia-Pacific projected to account for the largest share in the rigid plastic packaging market by 2021
Asia-Pacific, with emerging economies such as China and India, is expected to drive the rigid plastic packaging market. China is projected to account for the largest market share and dominate the Asia-Pacific rigid plastic packaging market by 2021. The growth in healthcare, food, and beverage industries is expected to drive the demand for rigid plastic packaging in China. In addition to this, the country's large consumer base, overall positive economic environment, and increase in manufacturing activities is expected to drive the demand in the rigid plastic packaging industry.
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The major players include Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Berry Plastics Corporation (U.S.), RPC Group Plc (U.K.), and Reynolds Holdings Group (New Zealand). Companies have adopted strategies such as mergers & acquisitions to cope with the increase in demand in the emerging markets.
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