A new Transparency
Market Research report states that the global rigid packaging
market stood at US$577.3 bn in 2015 and is predicted to reach
US$750.5 bn by 2021. It is predicted to expand at a CAGR of 4.50%
from 2015 to 2021. The title of the report is “Rigid
Packaging Market - Global Industry Analysis, Size, Share,
Growth and Forecast 2015 - 2021”.
As per the report,
factors such as the need for extension of the shelf lives of a
variety of food products and the increasing demand from the
pharmaceutical sector are fuelling the market for rigid packaging.
In addition, the rising demand for convenience food in emerging
countries and the cost-friendly nature of plastic packaging is also
stimulating the demand for rigid packaging. On the other hand, the
strict government regulations posed in a number of countries on the
usage of rigid packaging may impede the growth of the market in the
coming years.
On the basis of raw
material, the market is segmented into metals, paperboard, plastics,
glass, and others including timber, wood, paper pallets, and pulp,
etc. Amongst these, the segment of plastics constituted a 41.20%
share in the rigid packaging market and is predicted to expand at a
4.30% CAGR between 2015 and 2021. On the other hand, the segment of
paperboard is anticipated to be the most swiftly developing segment
and is expected to expand at a CAGR of 4.70% in the forecasting
horizon
In terms of
application, the market is segmented into pharmaceuticals, food and
beverages, cosmetic and toiletries, durable goods, industrial
packaging, and others. Durable goods include firearms, toys,
furniture, and home appliances. The industrial packaging segment is
further segmented into consumer electronics, automotive equipment,
footwear boxes, sports equipment, etc. The others segment includes
jewelry boxes, stationery products, etc. Amongst these, the segment
of food and beverages led the market and is predicted to exhibit a
CAGR of 4.30% in the forecast horizon. On the other hand, the segment
of pharmaceuticals is expected to exhibit a CAGR of 5.40% in the
forecast horizon and will be the most swiftly growing segment in
forthcoming years.
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On the basis of
geography, the rigid packaging market is segmented into North
America, Asia Pacific, Europe, and Rest of the World (RoW). Amongst
these, Asia Pacific led the market in 2014 and constituted a share of
41.20% in the market. The reason for the superiority of this region
is increasing demand from the soaring food and beverages industry in
this region. North America trailed Asia Pacific and stood as the
second largest market and represented a 26.20% share in the market in
the same year. However, North America and Europe have become mature
markets for rigid packaging in recent years and thus are expected to
experience sluggish development in the next 6 years.
As stated in the
study, the Key Players
dominant in the market are Berry Plastics Corporation, Resilux NV,
Ball Corporation, Holmen AB, Tetra Pak International, Reynolds Group
Holdings Limited, Rexam PLC, Amcor Limited, Georgia-Pacific LLC,
ALPLA Werke Alwin Lehner GmbH & Co KG, Crown Holdings, Inc., and
DS Smith Plc., among others.
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