Theglobal rigid plastic packaging industrysize was valued at USD 265.21 billion in 2022 and is projected toreach USD 386.68 billion by 2030, exhibiting a CAGR of 4.87% during the
forecast period.
The rigid plastic packaginghelps 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.
Source
FortuneBusiness Insights™ mentioned this in a report titled, “Rigid Plastic Packaging Market,2023-2030.”
COVID-19 Impact
Increased Growth in Food& Beverage Industry During Pandemic Augmented Market Growth
The COVID-19 pandemic had apositive 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.
Segments
Bottles & Jars Segment toGrow Due to their Easy Reusability Feature
By product type, the marketis classified into bottles & jars, containers, trays & pallets, IBC’s, clamshell,
drums, caps & closures, and others. The bottles & jars segment holds
the largest rigid plastic packaging market share. The easy reusability and
recyclability of bottles & jars aids the segment’s growth.
ReportCoverage
The report provides majorgrowth 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.
Drivers& Restraints
Rising Demand and Use ofBioplastic to Augment Market Growth
The growing awareness amongpeople 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, and others.
