The rigid packaging container market is projected to reach a staggering US$204.8 billion in FY 2024, according to a recently upgraded market intelligence report by FMI. This growth is fueled by the rising demand for sustainable and functional packaging solutions across various industries.
Aluminum cans, corrugated boxes, glass jars, and more are witnessing a surge in popularity for packaging a wide range of products, from laundry detergents and canned goods to beverages and spirits. The market is further bolstered by the growing demand for rigid containers in the chemical and automotive industries.
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Sustainability Takes Center Stage
A key trend shaping the rigid packaging container market is the increasing focus on sustainability. Manufacturers are actively seeking alternatives to single-use plastics, developing innovative solutions that combine the convenience of plastic with the eco-friendliness of paperboard. This “paperization trend” is expected to gain significant traction among consumers.
Rising Investments Drive Innovation
Market players are strategically increasing investments in design, research, and product optimization, leading to a growing demand for rigid-packaging containers. Their durability, chemical resistance, and recyclability make them an attractive choice for various industrial and non-industrial applications.
The UK Leads the Charge in Sustainable Packaging
The rigid packaging container market in the United Kingdom is undergoing a significant transformation due to the country’s recent ban on single-use plastics. This bold initiative, implemented in October 2023, is expected to have a ripple effect on packaging markets globally. The ban is driving a shift towards more sustainable materials like metal, glass, paper, and paperboard for rigid packaging solutions.
Food Industry Fuels US Market Growth
The US rigid packaging container market is experiencing steady growth, driven by the expanding food sector. The rising demand for ready-to-eat (RTE) food products is fueling the need for innovative and convenient packaging solutions. Additionally, the US Department of Interior’s plans to phase out single-use plastics on public lands by 2032 will further propel the market towards sustainable alternatives.
Looking Ahead: A Sustainable Future for Packaging
The rigid packaging container market presents a promising future driven by a growing emphasis on sustainability and innovation. As consumers and governments prioritize eco-friendly solutions, market players are well-positioned to capitalize on this shift by developing and offering a wider range of sustainable and functional rigid packaging options.
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Rigid Packaging Containers Market Competition Landscape
Crown Holdings, Inc, Mauser Packaging Solutions and Ball Corporation are the top players operating in the rigid packaging containers market. Furthermore, Grief, Inc., Amcor Plc, Berry Global Group, Inc, Silgan Holdings, Inc and Sonoco Products Company are prominent players in the rigid packaging containers market. The Tier 3 players in the market hold 80-85% in the global rigid packaging containers market. In conclusion, key players contribute almost 15% of the global market.
Key Benefits
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Rigid Packaging Containers market analysis from 2022 to 2032 to identify the prevailing Rigid Packaging Containers market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the Rigid Packaging Containers market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global Rigid Packaging Containers market trends, key players, market segments, application areas, and market growth strategies.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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