The assessment period from 2022 to 2032 is expected to have a robust CAGR of 4.0% for the global rigid packaging containers market. In 2022, the global market was valued at US$ 208.6 billion, and by 2032, it would have reached US$ 308 billion.
The global rigid packaging containers market grew at a CAGR of 3.1% from US$ 178.9 Billion in 2017 to US$ 202.0 Billion in 2021, per Future Market Insights’ historical data. High-quality packaging options with characteristics like strength, homogeneity, durability, and eco-friendliness are credited with the market’s expansion.
Revenues from the market for rigid packing containers are predicted to rise with the top 3 nations. By the end of 2022, these nations are projected to hold between 30 and 35 percent of the global market for rigid packing containers. Furthermore, it is anticipated that the market for rigid packaging containers would grow rapidly, with the top 5 companies expected to control between 15% and 20% of it by the end of 2022.
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The rising trade activities and persistent demand generation for safe and secure packaging and transportation of goods are predicted to offer phenomenal growth to the rigid packaging containers market. These rigid packaging containers provide contamination-free storage and protection from environmental damage.
The rising demand for rigid packaging among diverse industries is predicted to bolster the sales of rigid packaging containers. Furthermore, the rigid packaging containers market is expected to propel at 1.5X over the current market value from 2022 to 2032. The plastic rigid packaging containers segment based on material is predicted to account for the major portion of the global rigid packaging containers market.
This is attributed to various benefits exhibited by these efficient packaging solutions such as durability, lightweight, barrier resistance, cost-effectiveness, and others. Rigid packaging containers such as bottles & jars, drums, cans, jerry cans, and boxes & cartons are frequently used for packaging and storage. They can handle both hazardous and non-hazardous products as well.
Key takeaways
- Various government and non-government organizations are working towards reducing the quality of plastic waste disposed of in landfills. Furthermore, in order to increase the utilization of recycled post-consumer plastic, organizations are making an active effort.
- Increasing preference for environment-friendly containers is a revolutionary step in rigid container packaging that provides cost-effective packaging solutions. Key packaging manufacturers are working towards enhancing their sustainable packaging product range by designing and manufacturing sustainable products. These packaging products comprise plastic bottles, jars, and clamshells made from recycled plastics.
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- Rigid packaging has witnessed tremendous improvements in functionalities. These changes are attributed to shifting manufacturing processes, flowing the latest trends of the market using new technologies, customization in packaging, designing according to material, safety in transit, and ensuring damage-free packaging.
- Most of the manufacturers of rigid packaging containers are taking initiatives toward zero wastage, launching foldable and reusable containers in order to reduce costs and strengthen the rigid packaging container market growth. Therefore, rigid packaging container manufacturers capture the position of the next-generation smart packaging revolution by offering recyclable and reusable rigid packaging containers.
- Over the past couple of decades, rigid packaging containers witnessed significant demand from prominent industries such as food & beverage, healthcare, cosmetics & personal care, and others for long-term and short-term storage and packaging applications.
- Rising investments in design and research, paired with product maximization are anticipated to bolster the growth across the global rigid packaging containers market. Moreover, these rigid packaging containers are reusable and recyclable which makes them a perfect choice for packaging industrial and non-industrial goods.
- Optimal benefits of rigid packaging containers, such as excellent impact strength and chemical resistance coupled with the ability to get recycled, attract a substantial portion of manufacturers in the market.
Competitive Landscape
Key players in the global rigid packaging containers market are concentrating on expanding their production capacity by investing in their existing facilities to efficiently cater to the growing demand for rigid packaging containers. Also, the key players are focusing on developing sustainable and innovative products to meet the demand for sustainable packaging.
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More Insights into the Rigid Packaging Containers Market
Asia Pacific region is expected to dominate the global rigid packaging containers market. The increased production of chemicals in China is one of the leading factors driving the demand for bulk packaging solutions such as drums, IBCs, and others. China’s rigid packaging containers market is expected to grow 1.6 times the current market value from 2022 to 2032.
Rigid Packaging Containers Market by Category
By Material:
- Plastic
- Metal
- Glass
- Paper & Paperboard
By Product Type:
- Bottles & Jars
- Cans
- Jerry Cans
- Drums
- Boxes & Cartons
- IBCs
- Others (Clamshells, Kegs, etc.)
By End Use:
- Food & Beverage
- Pharmaceutical
- Cosmetics & Personal Care
- Homecare
- Automotive
- Chemicals
- Other Consumer Durables
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
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