The Rigid Plastic Packaging Market size was USD 147282.50 million in 2023 and is expected to Reach USD 224324.15 million by 2031 and grow at a CAGR of 5.4% over the forecast period of 2024-2031.
The country's high proportion of organized retail has also significantly increased the use of plastic packaging. The packaged food and beverage sector has experienced rapid growth on a global level over the last few years. A number of macroeconomic factors, such as changing lifestyles, an increase in the urban population, increased economic activity in emerging markets, and greater penetration of e-retail globally, are driving the global packaged food sector. Additionally, the projected increase in the global population from 7.1 billion in 2015 to 9.5 billion in 2050 will lead to a rise in food demand, which is predicted to lead to an increase in the demand for plastic packaging materials.
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Additionally, more opportunities for plastic packaging are anticipated in the coming years as innovative packaging solutions like active packaging, modified environment packaging, edible packaging, and bioplastic packaging continue to be introduced. However, it is anticipated that increased sustainability awareness and a strict ban on single-use plastic to reduce plastic pollution will endanger the sector's future.
Due to its durability and high aesthetic appeal, the rigid segment dominated the plastic packaging market and generated the most revenue, amounting to 60.2% of total sales, in 2021. In addition, rigid packaging's high barrier to light, moisture, and oxygen played a role in the segment's higher market share in 2021. The growth of rigid plastic products is likely to be aided by their reusability as industrial packaging materials like pallets, and other rigid packaging are reused repeatedly.
KEY DRIVERS:
Reusing and recycling rigid packaging materials.
The demand for rigid plastic packaging across various industries
Many industries benefit from rigid plastic packaging's durability, lightweight, and flexibility. Extrusion, injection molding, blow molding, thermoforming, and other processes are just a few of the methods used to create these packing components. To keep the products safe for a longer period of time, stiff plastic packaging made of substances like polyethylene, expanded polystyrene, and others is used. In addition, one of the key elements driving the expansion of the rigid plastic packaging market is the rise in packaged goods sales, which is a result of changing lifestyles.
RESTRAIN:
Increased competition from other plastic packaging companies.
An increase in the demand for alternative packaging.
Alternative packaging materials that are friendlier to the environment are gaining popularity among consumers. Due to their favorable environmental effects and high recyclability, aluminum and glass are widely accepted. People are consequently growing more skeptical of plastic. Also encouraging people to use biodegradable films rather than plastic is increased consumer awareness of good health and green packaging materials. The expansion of the global plastic packaging market is anticipated to be constrained by this during the forecast period.
OPPORTUNITY:
Rise of markets in emerging regions.
Innovation and consumer awareness
Manufacturers of rigid plastic packaging can spend money on research and development to produce cutting-edge materials like bio-based plastics, recyclable plastics, or biodegradable substitutes. These advancements can not only address environmental issues but also satisfy the evolving needs of consumers who care about the environment.
CHALLENGES:
Increasing environmental concerns.
Recycling of the plastic waste
Sustainable plastic packaging waste is a challenging process that requires high quality infrastructure. It takes a lot of time and requires staff expertise. However, recycling facilities are lacking in some parts of the world. The issue of insufficient recycling infrastructure exists even in wealthy nations like the US. Over USD 10 billion in recyclable containers are thrown away annually in the United States alone due to a lack of recycling facilities.
Russia's and Ukraine's ongoing conflict decreased exports of plastics to nations including resin, plastics machinery, plastics molds, and plastic goods. Exports of plastics to Russia fell from $100.1 million to $37.8 million, a 61.4% decrease, and exports to Ukraine fell from $20.3 million to $9.4 million, a 50.4% decline. So far, 2022 has been the last year for Russia and Ukraine to receive any exports of plastic machinery or molds.
Polytetrafluoroethylene (PTFE) and other fluoropolymers are two of the top ten sources from Russia. A total of 0.95 million kg of PTFE and other fluoropolymers were produced in Russia; this is a decrease from 1.16 million kg during the same time period in 2021.
As people become more prudent with their money, consumer spending tends to decline. This could lead to a decrease in the demand for goods that are packaged in rigid plastic containers, which would decrease sales for the companies that make the packaging.
Manufacturers may reduce their output in response to declining market demand. For businesses that manufacture rigid plastic packaging, this may mean decreased output and earnings. In order to mitigate the effects of the recession, it may also result in cost-cutting measures like layoffs or shortened workweeks.
The COVID-19 epidemic severely disrupted the supply chain, which had a negative impact on the rigid packaging industry. The shutdown in China, one of the major producers of plastic with more than 40% of the global market share, in the first quarter of 2020, has impacted manufacturers of plastic packaging globally. Due to the dearth of plastics produced by Chinese manufacturers, there is an imbalance between supply and demand. But the demand-supply imbalance was most prominent in the first quarter of 2020.
Covid 19 had a significant impact on the production and use of plastics in 2020-21. Plastic production, use, and waste were significantly impacted in 2020 by the COVID-19 pandemic and lockdown measures. Most industries saw a decrease in the use of plastics in tandem with a decrease in output and demand, particularly those that use large amounts of plastics, like the construction, trade, and automotive industries. 9.8 million tons (Mt) or a 2.1% decrease in global plastics consumption is projected for 2020, which is 4.3% less than the pre-COVID forecast.
By Raw Material
Bioplastics
Polypropylene
Polyethylene
Polystyrene
Polyvinyl Chloride
Expanded Polystyrene
Others
By Product type:
Bottle & Jars
Trays
Rigid Bulk Products
Others
By Production Process:
Thermoforming
Injection Molding
Extrusion
Blow Molding
Others
By Application:
Food & Beverages
Household
Healthcare
Personal Care
Others
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Asia Pacific dominated the plastic packaging industry. Rapidly developing application sectors in significant economies like China, and India, are expected to increase regional demand throughout the projection period.
Despite surpassing Asia Pacific as the second-largest regional market for plastic packaging, Europe is predicted to grow slowly over the course of the projected period. Slow market growth in the region is primarily attributed to stringent restrictions on the use of plastic packaging and high consumer concern for sustainability.
China’s rigid plastic packaging market is holding the largest market share and India’s rigid plastic packaging market is an emerging and rapidly growing market in the Asia Pacific region.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin American
Lidl GB to incorporate Prevented Ocean Plastic into its water bottles.
Since opening its PET Recovery Plant in Washington in 2022, waste management company Biffa claims to have recycled 1,600 tons of previously wasted plastic.
Some of the major key players in the Rigid Plastic Packaging Market are Silgan Holdings, Berry Plastics Corporation, Amcor Limited, Consolidated Container Company, Pactiv Evergreen Inc, Al Jabri Plastic Factory, Sonoco Products Company, SABIC, Mauser Packaging Solutions, Ball Corporation, and other players.
| Report Attributes | Details |
| Market Size in 2023 | US$ 147282.50 Mn |
| Market Size by 2031 | US$ 224324.15 Mn |
| CAGR | CAGR of 5.4% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Raw Material (Bioplastics, Polyethylene Terephthalate, Polypropylene, Polyethylene, Polystyrene, Polyvinyl Chloride, Expanded Polystyrene, Others) • By Product Type (Bottle & Jars, Trays, Rigid Bulk Products, Others) • By Production Process (Thermoforming, Injection Molding, Extrusion, Blow Molding, Others) • By Application (Food & Beverages, Household, Healthcare, Personal Care, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Silgan Holdings, Berry Plastics Corporation, Amcor Limited, Consolidated Container Company, Pactiv Evergreen Inc, Al Jabri Plastic Factory, Sonoco Products Company, SABIC, Mauser Packaging Solutions, Ball Corporation |
| Key Drivers | • Reusing and recycling rigid packaging materials. • The demand for rigid plastic packaging across various industries |
| Market Opportunities | • Rise of markets in emerging regions. • Innovation and consumer awareness |
Ans: Rigid Plastic Packaging Market is expected to grow at a CAGR of 5.4 % over the forecast period of 2023-2030.
Ans: The Rigid Plastic Packaging Market size was USD 147282.50 million in 2023 and is expected to Reach USD 224324.15 million by 2031.
Ans: Reusing and recycling rigid packaging materials and the demand for rigid plastic packaging across various industries is the major key driver for the growth of Rigid Plastic Packaging Market.
Ans: Increased competition from other plastic packaging companies and an increase in the demand for alternative packaging is a major restrain for the market.
Ans: Asia Pacific is dominating the plastic packaging industry due to rapidly developing application sectors in emerging economies like China, and India, are expected to increase regional demand throughout the projection period.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.3 Impact of Covid-19
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Rigid Plastic Packaging Market Segmentation, By Raw Material
8.1 Bioplastics
8.2 Polyethylene Terephthalate
8.3 Polypropylene
8.4 Polyethylene
8.5 Polystyrene
8.6 Polyvinyl Chloride
8.7 Expanded Polystyrene
8.8 Others
9. Rigid Plastic Packaging Market Segmentation, By Product Type
9.1 Bottle & Jars
9.2 Trays
9.3 Rigid Bulk Products
9.4 Others
10. Rigid Plastic Packaging Market Segmentation, By Production Process
10.1 Thermoforming
10.2 Injection Molding
10.3 Extrusion
10.4 Blow Molding
10.5 Others
11. Rigid Plastic Packaging Market by Application
11.1 Food & Beverages
11.2 Household
11.3 Healthcare
11.4 Personal Care
11.5 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America Rigid Plastic Packaging Market by Country
12.2.2North America Rigid Plastic Packaging Market By Raw Material
12.2.3 North America Rigid Plastic Packaging Market By Product Type
12.2.4 North America Rigid Plastic Packaging Market by Production Process
12.2.5 North America Rigid Plastic Packaging Market by Application
12.2.6 USA
12.2.6.1 USA Rigid Plastic Packaging Market By Raw Material
12.2.6.2 USA Rigid Plastic Packaging Market By Product Type
12.2.6.3 USA Rigid Plastic Packaging Market by Production Process
12.2.6.4 USA Rigid Plastic Packaging Market by Application
12.2.7 Canada
12.2.7.1 Canada Rigid Plastic Packaging Market By Raw Material
12.2.7.2 Canada Rigid Plastic Packaging Market By Product Type
12.2.7.3 Canada Rigid Plastic Packaging Market by Production Process
12.2.7.4 Canada Rigid Plastic Packaging Market by Application
12.2.8 Mexico
12.2.8.1 Mexico Rigid Plastic Packaging Market By Raw Material
12.2.8.2 Mexico Rigid Plastic Packaging Market By Product Type
12.2.8.3 Mexico Rigid Plastic Packaging Market by Production Process
12.2.8.4 Mexico Rigid Plastic Packaging Market by Application
12.3 Europe
12.3.1 Europe Rigid Plastic Packaging Market by Country
12.3.2 Europe Rigid Plastic Packaging Market By Raw Material
12.3.3 Europe Rigid Plastic Packaging Market By Product Type
12.3.4 Europe Rigid Plastic Packaging Market by Production Process
12.3.5 Europe Rigid Plastic Packaging Market by Application
12.3.6 Germany
12.3.6.1 Germany Rigid Plastic Packaging Market By Raw Material
12.3.6.2 Germany Rigid Plastic Packaging Market By Product Type
12.3.6.3 Germany Rigid Plastic Packaging Market by Production Process
12.3.6.4 Germany Rigid Plastic Packaging Market by Application
12.3.7 UK
12.3.7.1 UK Rigid Plastic Packaging Market By Raw Material
12.3.7.2 UK Rigid Plastic Packaging Market By Product Type
12.3.7.3 UK Rigid Plastic Packaging Market by Production Process
12.3.7.4 UK Rigid Plastic Packaging Market by Application
12.3.8 France
12.3.8.1 France Rigid Plastic Packaging Market By Raw Material
12.3.8.2 France Rigid Plastic Packaging Market By Product Type
12.3.8.3 France Rigid Plastic Packaging Market by Production Process
12.3.8.4 France Rigid Plastic Packaging Market by Application
12.3.9 Italy
12.3.9.1 Italy Rigid Plastic Packaging Market By Raw Material
12.3.9.2 Italy Rigid Plastic Packaging Market By Product Type
12.3.9.3 Italy Rigid Plastic Packaging Market by Production Process
12.3.9.4 Italy Rigid Plastic Packaging Market by Application
12.3.10 Spain
12.3.10.1 Spain Rigid Plastic Packaging Market By Raw Material
12.3.10.2 Spain Rigid Plastic Packaging Market By Product Type
12.3.10.3 Spain Rigid Plastic Packaging Market by Production Process
12.3.10.4 Spain Rigid Plastic Packaging Market by Application
12.3.11 The Netherlands
12.3.11.1 Netherlands Rigid Plastic Packaging Market By Raw Material
12.3.11.2 Netherlands Rigid Plastic Packaging Market By Product Type
12.3.11.3 Netherlands Rigid Plastic Packaging Market by Production Process
12.3.11.4 Netherlands Rigid Plastic Packaging Market by Application
12.3.12 Rest of Europe
12.3.12.1 Rest of Europe Rigid Plastic Packaging Market By Raw Material
12.3.12.2 Rest of Europe Rigid Plastic Packaging Market By Product Type
12.3.12.3 Rest of Europe Rigid Plastic Packaging Market by Production Process
12.3.12.4 Rest of Europe Rigid Plastic Packaging Market by Application
12.4 Asia-Pacific
12.4.1 Asia Pacific Rigid Plastic Packaging Market by Country
12.4.2 Asia Pacific Rigid Plastic Packaging Market By Raw Material
12.4.3 Asia Pacific Rigid Plastic Packaging Market By Product Type
12.4.4 Asia Pacific Rigid Plastic Packaging Market by Production Process
12.4.5 Asia Pacific Rigid Plastic Packaging Market by Application
12.4.6 Japan
12.4.6.1 Japan Rigid Plastic Packaging Market By Raw Material
12.4.6.2 Japan Rigid Plastic Packaging Market By Product Type
12.4.6.3 Japan Rigid Plastic Packaging Market by Production Process
12.4.6.4 Japan Rigid Plastic Packaging Market by Application
12.4.7 South Korea
12.4.7.1 South Korea Rigid Plastic Packaging Market By Raw Material
12.4.7.2 South Korea Rigid Plastic Packaging Market By Product Type
12.4.7.3 South Korea Rigid Plastic Packaging Market by Production Process
12.4.7.4 South Korea Rigid Plastic Packaging Market by Application
12.4.8 China
12.4.8.1 China Rigid Plastic Packaging Market By Raw Material
12.4.8.2 China Rigid Plastic Packaging Market By Product Type
12.4.8.3 China Rigid Plastic Packaging Market by Production Process
12.4.8.4 China Rigid Plastic Packaging Market by Application
12.4.9 India
12.4.9.1 India Rigid Plastic Packaging Market By Raw Material
12.4.9.2 India Rigid Plastic Packaging Market By Product Type
12.4.9.3 India Rigid Plastic Packaging Market by Production Process
12.4.9.4 India Rigid Plastic Packaging Market by Application
12.4.10 Australia
12.4.10.1 Australia Rigid Plastic Packaging Market By Raw Material
12.4.10.2 Australia Rigid Plastic Packaging Market By Product Type
12.4.10.3 Australia Rigid Plastic Packaging Market by Production Process
12.4.10.4 Australia Rigid Plastic Packaging Market by Application
12.4.11 Rest of Asia-Pacific
12.4.11.1 APAC Rigid Plastic Packaging Market By Raw Material
12.4.11.2 APAC Rigid Plastic Packaging Market By Product Type
12.4.11.3 APAC Rigid Plastic Packaging Market by Production Process
12.4.11.4 APAC Rigid Plastic Packaging Market by Application
12.5 The Middle East & Africa
12.5.1 The Middle East & Africa Rigid Plastic Packaging Market by Country
12.5.2 The Middle East & Africa Rigid Plastic Packaging Market By Raw Material
12.5.3 The Middle East & Africa Rigid Plastic Packaging Market By Product Type
12.5.4 The Middle East & Africa Rigid Plastic Packaging Market by Production Process
12.5.5 The Middle East & Africa Rigid Plastic Packaging Market by Application
12.5.6 Israel
12.5.6.1 Israel Rigid Plastic Packaging Market By Raw Material
12.5.6.2 Israel Rigid Plastic Packaging Market By Product Type
12.5.6.3 Israel Rigid Plastic Packaging Market by Production Process
12.5.6.3 Israel Rigid Plastic Packaging Market by Application
12.5.7 UAE
12.5.7.1 UAE Rigid Plastic Packaging Market By Raw Material
12.5.7.2 UAE Rigid Plastic Packaging Market By Product Type
12.5.7.3 UAE Rigid Plastic Packaging Market by Production Process
12.5.7.4 UAE Rigid Plastic Packaging Market by Application
12.5.8 South Africa
12.5.8.1 South Africa Rigid Plastic Packaging Market By Raw Material
12.5.8.2 South Africa Rigid Plastic Packaging Market By Product Type
12.5.8.3 South Africa Rigid Plastic Packaging Market by Production Process
12.5.8.4 South Africa Rigid Plastic Packaging Market by Application
12.5.9 Rest of Middle East & Africa
12.5.9.1 Rest of Middle East & Asia Rigid Plastic Packaging Market By Raw Material
12.5.9.2 Rest of Middle East & Asia Rigid Plastic Packaging Market By Product Type
12.5.9.3 Rest of Middle East & Asia Rigid Plastic Packaging Market Production Process
12.5.9.4 Rest of Middle East & Asia Rigid Plastic Packaging Market by Application
12.6 Latin America
12.6.1 Latin America Rigid Plastic Packaging Market by Country
12.6.2 Latin America Rigid Plastic Packaging Market By Raw Material
12.6.3 Latin America Rigid Plastic Packaging Market By Product Type
12.6.4 Latin America Rigid Plastic Packaging Market by Production Process
12.6.5 Latin America Rigid Plastic Packaging Market by Application
12.6.6 Brazil
12.6.6.1 Brazil Rigid Plastic Packaging Market By Raw Material
12.6.6.2 Brazil Africa Rigid Plastic Packaging Market By Product Type
12.6.6.3 Brazil Rigid Plastic Packaging Market by Production Process
12.6.6.4 Brazil Rigid Plastic Packaging Market by Application
12.6.7 Argentina
12.6.7.1 Argentina Rigid Plastic Packaging Market By Raw Material
12.6.7.2 Argentina Rigid Plastic Packaging Market By Product Type
12.6.7.3 Argentina Rigid Plastic Packaging Market by Production Process
12.6.7.4 Argentina Rigid Plastic Packaging Market by Application
12.6.8 Rest of Latin America
12.6.8.1 Rest of Latin America Rigid Plastic Packaging Market By Raw Material
12.6.8.2 Rest of Latin America Rigid Plastic Packaging Market By Product Type
12.6.8.3 Rest of Latin America Rigid Plastic Packaging Market by Production Process
12.6.8.4 Rest of Latin America Rigid Plastic Packaging Market by Application
13 Company Profile
13.1 Amcor Ltd
13.1.1 Market Overview
13.1.2 Financials
13.1.3 Products/Services/Offerings
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Berry Global Group Inc
13.2.1 Market Overview
13.2.2 Financials
13.2.3 Products/Services/Offerings
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 , Sonoco Products Company
13.3.1 Market Overview
13.3.2 Financials
13.3.3 Products/Services/Offerings
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Sealed Air Corporation
13.4.1 Market Overview
13.4.2 Financials
13.4.3 Products/Services/Offerings
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 DS Smith
13.5.1 Market Overview
13.5.2 Financials
13.5.3 Products/Services/Offerings
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Constantia Flexibles
13.6.1 Market Overview
13.6.2 Financials
13.6.3 Products/Services/Offerings
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Transcontinental Inc
13.7.1 Market Overview
13.7.2 Financials
13.7.3 Products/Services/Offerings
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Mondi Group
13.8.1 Market Overview
13.8.2 Financials
13.8.3 Products/Services/Offerings
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Huhtamaki Oyj
13.9.1 Market Overview
13.9.2 Financials
13.9.3 Product/Services/Offerings
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Westrock Company
13.10.1 Market Overview
13.10.2 Financials
13.10.3 Product/Services/Offerings
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. USE Cases and Best Practices
16. Conclusion
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