The global rigid plastic packaging market size was valuedat USD 265.21 billion in 2022 and is projected to reach USD 386.68 billion by
2030, exhibiting a CAGR of 4.87% during the forecast period.
The rigidplastic packaging helps to protect products which need special handling. The
plastic materials used in rigid packaging are easily recyclable and also help
in reducing carbon footprints. The increase in commodities trading and the
growing need for the rigid plastic packaging industry is estimated to drive
market growth during the forecast period.
Fortune Business Insights™ mentioned this in a reporttitled, “Rigid Plastic Packaging Market, 2023-2030.”
COVID-19 Impact
Increased Growth in Food & Beverage Industry During PandemicAugmented Market Growth
The COVID-19pandemic had a positive impact on the rigid plastic packaging market growth.
The increased growth in the food and beverage industry as the retail stores
were open for essential goods during the pandemic augmented growth. The rising
demand for vaccines and medicines during COVID-19 pandemic also propelled
market growth.
Report Coverage
The reportprovides major growth drivers, restraining factors, opportunities, and
potential challenges for the market. It offers comprehensive insights into
regional developments, a list of major industry players, key strategies adopted
by market players, and the latest industry developments, including product
launches, partnerships, mergers, and acquisitions.
Segments
East Recyclability and High Durability to Drive Polyethylene(PE) Segment Growth
Based onmaterial, the market is classified into Polyethylene (PE), Polyethylene
terephthalate (PET), Polypropylene (PP), Polyvinyl chloride (PVC), and
others. The Polyethylene (PE) segment leads due to its high durability and easy
recyclability coupled with several other features.
Drivers & Restraints
Rising Demand and Use of Bioplastic to Augment Market Growth
The growingawareness among people using low-impact and sustainable products has increased
the use of bioplastic as a packaging material. Several manufacturers are using
bioplastic as an alternative for every conventional plastic material, including
biobased PE, PET, bio-PP.
