19th August 2019 – The global Rigid
Packaging Market displayed a momentous growth of USD 472.19 billion in
2016. It is expected to grow significantly in the forecast period owing to rise
in the demand for environment-friendly packaging. Rigid Packaging is a part of
the packaging market. It is used to protect products from different types of
damages. Rigid Packaging is widely used for packing the explosives and highly
reactive commodities as well as other types of products and supports higher
durability. The continuous and increasing demand from the consumers for rigid
packaging is expected to fuel up the rigid packaging industry in the coming
years with a CAGR of 6.7%.
The reasonable rates of rigid packaging,
spurring growth of food & beverage industry, and rise in consumer spending
power for packaged products are some of the driving factors of the market.
Also, the rise in demand for the packaged medications and apparatuses in
healthcare sector is predicted to widen scope for the market in the years to
come. Additionally, the rise in manufacturing activities is expected to uplift
the industry in near future.
Another driving factor for the rise of
rigid packaging market comprise high transportation growth. The growing
e-commerce across globe is pouring the demand for rigid packaging. Most
consumers today are preferring online shopping over traditional shopping method
because of wide availability of variety goods, quick delivery, easy return
policies, and low or free shipping charges. However, the growing trade-related
regulations and agreements among economies are stimulating the growth of the
industry. Nevertheless, the increasing popularity of flexible packaging and
flexible raw material costs are hampering the growth of the market.
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Rigid packaging industry is categorized
based on material, product type, application and geography. Based on material,
the market is divided into glass, metal, plastic, and paperboard. Plastic is
expected to dominate the market owing to the different types of plastic like
Polyethylene (PE), Polyethylene terephthalate (PET), Polypropylene (PP) which
used in manufacturing of rigid packaging goods. The adoption of rigid plastics
is rising because of the features like maintained product freshness,
lightweight, toughness/strength, no risk of breakage, and inexpensiveness.
Based on product segmentation, the market is divided into jars & bottles,
containers, boxes and cans. The jars & bottles are projected to dominate
the market since they are used for carbonated soft drinks, water, juices, food
products, etc. The demand for jars & bottles are also increasing due to the
augmented demand for household and beverages followed by the rise in demand for
containers & boxes owing to the trade-related agreements.
On the basis of application, the rigid
packaging market is divided on the basis of healthcare, food & beverage,
consumer goods, personal care, etc. Among these, the food & beverages
segment is predicted to dominate be the fastest growing application segment in
the market. Increasing population as well as rising heavy demand for beverages
& foods are stimulating the growth of the industry. Also, the rising
disposable income among the consumers along with lifestyle variations is
estimated to impact the market.
Geographically, the rigid packaging
industry is segmented into Asia Pacific, Europe, North America and RoW. China
accounts for the maximum market share followed by North America owing to the
rising use of bioplastic. Bioplastic is used as raw material for the
manufacturing of rigid packaging. The use of bioplastic is expected to reduce
the carbon footprints in the area of driving rigid packaging market growth.
The prominent rigid packaging industry
players profiled here are Amcor, Ball,Berry, Crown Holdings, APPE, Britton
Group, AEP Industries, Can-Pack, Ardagh Group, RPC Group, Silgan, DS Smith,
Gerresheimer, Graham Packaging, LINPAC Group, Sonoco, Vidrala, and Vetropack
Holding.
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