The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Overview of Market Growth

• Historic Growth: The rigid plastic packaging market has seen substantial growth in recent years, with a size of $232.45 billion in 2023.
• Forecasted Growth: It is projected to reach $247.12 billion in 2024, with a Compound Annual Growth Rate (CAGR) of 6.3%.

Factors Driving Growth

• Cost Efficiency: Rigid plastic packaging offers cost-effective solutions for various industries.
• Durability and Protection: It ensures product safety during transportation and storage.
• Versatility: Suitable for diverse applications across industries.
• Lightweight Properties: Reduces shipping costs and environmental impact.
• Barrier Properties: Protects contents from moisture, oxygen, and other factors.
• Consumer Convenience: Easy to use and handle.

Future Growth Prospects

• Forecasted Growth: Expected to grow to $313.92 billion by 2028, at a CAGR of 6.2%.
• Key Drivers: Sustainability initiatives, e-commerce growth, customization, and branding.
• Emerging Trends: Sustainable packaging, innovative designs, circular economy initiatives, digitalization.

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Driving Forces: Demand from End Users

Food and Beverage Industry

• Key Driver: Increasing demand from the food and beverage sector propels market growth.
• Role of Packaging: Rigid plastic packaging enhances food safety, shelf life, and transportation efficiency.
• Industry Insights: In 2021, Scotland registered significant growth in food and beverage manufacturing and exports.

Key Players and Market Dynamics

• Leading Companies: Berry Global Inc., Amcor PLC, Silgan Holdings Inc., and others.
• Technological Advancements: Companies focus on developing advanced products and technologies.
• Example: Amcor Plc. launched DairySeal packaging featuring ClearCor PET barrier technology.
• Strategic Acquisitions: Pactiv Evergreen Inc. acquired Fabri-Kal to strengthen its market position.

Segmentation and Regional Insights

• Product Types: Boxes, bottles, cans, blister packs, trays, etc.
• Materials: Polyethylene, polypropylene, high-density polypropylene, etc.
• Manufacturing Processes: Extrusion, injection molding, and others.
• End Users: Food and beverages, personal care, household, healthcare, and more.
• Regional Dominance: Asia-Pacific leads the rigid plastic packaging market.

Conclusion: A Promising Future

The rigid plastic packaging market is poised for sustained growth, driven by factors like technological innovation, rising demand from key industries, and increasing emphasis on sustainability. As companies continue to invest in research and development and adapt to changing consumer preferences, the market is expected to witness significant expansion in the coming years.

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The Rigid Plastic Packaging Global Market Report 2024  provides an overview of the rigid plastic packaging market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The rigid plastic packaging market forecast analyzes rigid plastic packaging market size, rigid plastic packaging market share, leading competitor and their market positions.

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