The latest market intelligence report from Future Market Insights (FMI) reveals that the global rigid packaging container market is poised for significant growth over the next decade. Valued at US$ 204.8 billion in FY 2024, the market is projected to expand at a CAGR of 3%, reaching a valuation of US$ 275.2 billion by 2034.
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Key Drivers of Market Growth
1. Increasing Demand Across Industries: The rising demand for rigid packaging solutions, such as aluminum cans, corrugated and paperboard boxes, glass jars, and more, across various industries—including food and beverages, pharmaceuticals, agriculture, and chemicals—is a major factor driving market growth. These containers are essential for packaging products like laundry bags, cans of soup, glass bottles of spirits, and more.
2. Industrial Goods Demand: The market is also experiencing growth due to the increasing demand for rigid packaging from industrial goods sectors such as chemicals and automotive. These containers offer excellent chemical resistance, impact strength, and recyclability, making them ideal for transporting and storing industrial products.
3. Sustainability Efforts: As sustainability becomes a critical focus, active players in the market are striving to reduce their plastic pollution and greenhouse gas (GHG) emissions. This shift towards sustainable practices is driving the development of effective alternatives to single-use plastic bottles, incorporating the convenience of plastic with the sustainability of carton packs. The ‘paperization trend’ is gaining traction among consumers as packaging manufacturers rapidly transition from plastic to paper-based solutions.
4. Technological Advancements: Increased investments in design, research, and product maximization are fueling demand for rigid packaging containers. Innovations in packaging technology are enhancing the functionality and environmental friendliness of these products.
5. Trade Activities: Rising trade activities and the continuous demand for safe and secure transportation and packaging of goods are offering new opportunities for market players. The ability to safely transport goods across borders is crucial for the growth of the rigid packaging container market.
Regional Insights
- United Kingdom: The UK rigid packaging container market is expanding at a CAGR of 1.6% over the forecast period. The recent ban on single-use plastics, effective October 1, 2023, is expected to significantly impact the packaging market dynamics. This initiative is part of the UK’s broader agenda to eliminate public waste and pollution by 2042. The shift towards sustainable packaging materials, such as metal, glass, paper, and paperboard, is driving market growth and making these materials more affordable for small businesses.
- United States: The US rigid packaging container market is growing at a CAGR of 1.8% during the forecast period, driven by the expanding food sector. The increasing demand for ready-to-eat (RTE) food products is accelerating market growth. Government initiatives, such as the US Department of the Interior’s plan to phase out single-use plastics from public lands by 2032, are also influencing market dynamics. These initiatives provide businesses with time to explore cost-effective alternatives while helping consumers adjust to new buying patterns.
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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