Rigid Plastic Packaging Market by Raw Material, Type, Production Process and Region - Global Forecast to 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "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 2026" report has been added to ResearchAndMarkets.com's offering.

The rigid plastic packaging market is projected to grow from USD 198.9 billion in 2021 to USD 250.2 billion by 2026, at a CAGR of 4.7% during the forecast period.

Rigid plastic packaging solely involves the usage of a rigid plastic material that does not exhibit elastic deformation and has a relatively rigid shape or form. It includes products such as bottles & jars, trays, and blister packs. The global rigid packaging market has witnessed considerable growth in recent years, mainly driven by features such as low weight, flexibility, and durability.

In terms of value & volume, the bottles & jars segment is projected to lead the global rigid plastic packaging market in 2020.

The bottles & jars segment acquired the largest share in the rigid plastic packaging market in 2020, in terms of value, and is projected to grow at the second-highest CAGR during the forecast period. Rigid plastic bottles are used for packaging various products such as water, juices, carbonated soft drinks, cosmetics, food products, personal care products, and pharmaceutical products. Most of these bottles & jars are made from PET, PE, PP, HDPE, PS, and PVC. The flourishing retail industry, combined with the rise in disposable income of consumers. The increasing population, growing urbanization, and rising demand for beverages and home care products are fueling the market growth.

The extrusion segment is projected to lead the rigid plastic packaging market during the forecast period.

The extrusion segment is projected to lead the rigid plastic packaging market during the forecast period. The process accommodates a wide range of die profiles, allowing manufacturers to create parts and products with a variety of simple to highly complex continuous cross-sections. The extruded roll stock is ready for thermoforming, with no curing time required. As the extrusion process often uses thermoplastics - which can undergo the melting, molding, and hardening operations repeatedly - the overall material and disposal costs for an extrusion operation are lower than that of other molding processes.

In terms of both value and volume, the Asia Pacific rigid plastic packaging market is projected to grow at the highest CAGR during the forecast period.

The Asia Pacific region accounted for the largest share in 2020 and is also projected to record the highest growth rate during the forecast period. Countries such as India and China are expected to post high growth in the rigid plastic packaging market due to growing developmental activities and rapid economic expansion. In addition to this, the growing population in these countries presents a huge customer base for FMCG products and consumer durables, which, in turn, is expected to lead to the growth of the rigid plastic packaging market.

Market Dynamics

Drivers

• Growth in the Packaging Industry in APAC
• Strong Demand from the Food & Beverage Packaging Industry

Restraints

• Stringent Regulations
• Fierce Competition from Flexible Plastic Packaging

Opportunities

• Change in Demographic Trends
• Change in Lifestyle Patterns

Challenges

• High Input Costs
• Recycling and Environmental Concerns

Companies Mentioned

• Al Jabri Plastic Factory
• Alpla
• Altium Packaging Lp
• Amcor
• Berry Global Group Inc.
• DS Smith plc
• Hitech Corporation
• Lacerta Group Inc.
• Lockner Pentaplast
• Mpact
• Nuplas Industries Ltd
• Pactiv LLC
• Plastipak Holdings, Inc.
• Regent Plast Pvt. Ltd.
• Sabic
• Silgan Holdings Inc.
• Sonoco Products Company
• Takween Advanced Industries
• US Pack Group
• Winpak Ltd

For more information about this report visit https://www.researchandmarkets.com/r/pym1rl

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