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How Rapidly is the Rigid Packaging Market Forecasted to Grow Between 2024 and 2033?

In recent times, the size of the rigid packaging market has seen substantial growth. It is predicted to rise from $223.47 billion in 2023, reaching $239.9 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.4%. The significant expansion observed within the historical period can be associated with advances in material innovation, changing consumer tastes, globalisation, the surge in e-commerce, and improvements in supply chain efficiency.

The market size for rigid packaging is anticipated to witness a significant increase in the upcoming years, expanding to a value of $307.14 billion in 2028 with a compound annual growth rate (CAGR) of 6.4%. The predicted growth in the forecast period can be due to factors such as initiatives related to the circular economy, changes in consumer requirements, efforts towards mitigating climate change, customization and personalization, the emergence of sustainable practices, and optimization of logistics. The forecast period also sees key trends like initiatives toward sustainability, advancements in materials and technologies, influence of e-commerce, cost-effective measures, and optimization of the supply chain for brand differentiation.

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What Factors Are Behind the Rapid Growth of the rigid packaging Market?

The rising demand for eco-friendly and sustainable packaging is set to catalyze the expansion of the rigid packaging market. This type of packaging is essentially those products and solutions capable of lessening environmental impact, typically seen as replacements for plastic packaging or other damaging metal packaging. Rigid packaging forms like cans, ampoules, and bottles offer an extended shelf life and superior product protection, which in turn decreases food wastage and the requirement for supplementary packaging. One example in 2022 is the Ellen MacArthur Foundation, a UK-based nonprofit organization aims to assure that 100% of plastic packaging will be reusable, recyclable, or compostable, coupled with increasing the percentage of post-consumer recycled content. This growing need for such eco-friendly and sustainable packaging is a major driver for the rigid packaging market.

What Are the Principal Segments of the Rigid Packaging Market?

1) By Product Type: Boxes, Trays, Containers And Cans, Bottles And Jars, Other Product Types

2) By Raw Material: Polyethylene (PE), Polyethylene Terephthalate (PET), Polystyrene (PS), Polypropylene (PP), Polyvinyl Chloride (PVC), Expanded Polystyrenes (EPs), Bioplastics, Other Raw Materials

3) By Production Process: Extrusion, Injection Molding, Thermoforming, Other Production Processes

4) By Application: Food And Beverages, Chemical Industry, Consumer Goods, Healthcare And Pharmaceuticals, Other Applications

What Emerging Patterns Are Redefining the Rigid Packaging Market?

In the rigid packaging sector, there’s a growing trend where companies are focusing more on partnerships and collaborations as a strategy to boost their economic standing and product offerings. These strategic collaborations involve businesses utilizing each other’s strengths and resources to mutually reap the rewards and achieve success. To illustrate, in February 2023, TotalEnergies, a multinational French integrated energy and petroleum firm, joined forces with Ecolab, an American company known for its development and provision of services, technology, and systems primarily aimed at cleaner, healthier water in various applications. They collaborated to introduce plastic packaging that incorporates recycled material, specifically for heavy-use needs. The ensuing product, a component of the RE:clic portfolio and the RE:use range, blends Post-Consumer Recycled (PCR) material with high-performing booster resin. This combination is designed to promote circularity while maintaining similar performance standards.

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Which Geographical Regions Are Shaping the Rigid Packaging Market Growth?

Asia-Pacific was the largest region in the rigid packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global rigid packaging market report during the forecast period. The regions covered in the rigid packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Rigid Packaging Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the rigid packaging market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Rigid Packaging Market Include

1. Rigid Packaging Market Executive Summary

2. Rigid Packaging Market Segments

3. Rigid Packaging Market Size And Template Market Growth Rate

4. Key Rigid Packaging Market Trends

5. Major Rigid Packaging Market Drivers

……

25. Key Mergers And Acquisitions In The Rigid Packaging Market

26. Top Rigid Packaging Companies

27. Rigid Packaging Market Opportunities And Strategies

28. Rigid Packaging Market, Conclusions And Recommendations

29. Appendix

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