Rigid Packaging Market Forecast .pdf
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Rigid Packaging Market revenue will reach $786.1 billion by 2024,
says Esticast Research and Consulting
As per the report Rigid Packaging Market BY Material Type (Metal,
Plastics, Paper & Paperboard, Glass and Others), By End-user (Food
and Beverages, Pharmaceuticals, Durable goods, Cosmetics,
Industrial packaging and Others), Industry Trends, Estimation &
Forecast, 2016 - 2024“.
The global rigid packaging market was valued at $498.1 billion in 2016, and is
projected to reach $786.1 billion by 2024, growing at a CAGR of 5.9% from 2017 to
2024. In 2016, the plastic material segment generated the highest revenue share
in the global rigid packaging market. Among major regions, Asia-Pacific rigid
packaging market was the highest revenue generating market valued at $203
billion in 2016.
Products such as cosmetics, frozen meats, processed meats, ready-to-eat
food items, drinks, and medicines are majorly packaged using rigid
packaging method. The rigid packaging market is majorly influenced by
the presence of plastic. It is the ideal material which is used as packaging
by the manufacturers and consumers. The use of plastic guarantees the
stability of the packaging along with preservation of the important
minerals, nutrients and chemical properties of the product”
Plastic based rigid packaging would lead the market owing to
the low cost of material
Plastic rigid packing segment led the overall market by holding nearly 40%
of the total market share. The very segment is also expected to dominate
the market throughout the forecast period owing to low costs, low
weight, and least breakage tendency. However, paper and paperboard
packaging market are supposed to grow with the highest CAGR of 6.2%
during the forecast period. As a result of various issues related with plastic
packaging material including bio degradability and recyclability, costumers
have chosen an eco-friendly option of paper based packaging, hence
improving the growth of the market.
The rigid packaging market in terms of food & beverage
packaging is to be driven by the emerging economies
A constantly hiking demand for convenience food is expected to
increase demand for rigid packaging for food and beverages. Rigid
packaging is gaining admiration in the food and beverages industry as it
provides longer shelf life to the packaged food items. Moreover,
increasing number of nuclear families and rising demand for
convenience food is expected to further boost the rigid packaging
market for food and beverages segment. However, Rigid packaging in
the pharmaceutical application is expected to witness the highest
growth as a result of the fast growth of pharmaceutical manufacturing
industries, especially in Asia Pacific.
Asia Pacific has the largest market share for rigid packaging,
owing to emerging industries.
The Asia-Pacific region led the global rigid packaging market by holding
nearly 41% of the total share. Increased GDP growth rate and large
population in emerging countries such as China and India are the major
drivers for the rigid packaging market in the Asia Pacific region.
Moreover, constantly increasing food and beverage industries in the
region is also fostering the market growth. However, Europe is supposed
to witness the highest CAGR of 6.2% followed by North America during
the forecast period of 2016-2024.
RIGID PACKAGING MARKET KEY FINDINGS
The global rigid packaging market was valued at $498.1 billion in
2016 and is projected to reach $14.09 billion by 2024.
Plastic rigid packing segment led the overall market by holding nearly
40% of the total market share
The rigid packaging market in terms of food & beverage packaging
will lead the global market.
The Asia-Pacific region led the global rigid packaging market by
holding nearly 41% of the total share
Berry Plastics Corporation
DS Smith Plc.
Reynolds Group Holding
Tetra Pak International
Crown Holdings, Inc.
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