Rigid Packaging Market by End-user industry (Food & beverage, Pharmaceutical, Personal Care, Others)
Allied Market Research adds “Rigid Packaging Market” new report to its research database. The report provides a comprehensive analysis of current & future trends and emerging avenues for the growth of this market globally.
Rigid packaging generally includes packaging through materials such as glass, plastics, metal and paper & paperboards. All of these materials are used for packaging at varying degrees and give protection to the products. Almost all the rigid packaging material are strong, the strength to the packaging is provided by the amount of the material used in the production. The global rigid packaging market growth is largely driven by increasing consumer goods demand, improving packaging recycling rates, and low cost of rigid plastic packaging. However, the rigid packaging market growth is restrained by factors such as increasing adoption of flexible packaging materials, Eurozone economic uncertainty, fluctuating raw material prices and stringent regulations.
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The global rigid packaging market is segmented based on material type, end-user industry and geography. By material type, the rigid packaging market is categorized into plastics, metal, paper & paperboard, glass and others. The rigid plastics segment was the most dominant material type in 2016 accounting for 39.1% of the overall market. High adoption of rigid plastics for packaging is due to their low weight, maintaining freshness of the product, reduced breakage and low cost. The market for rigid plastics packaging is expected to grow at a CAGR of 6.9% during the forecast period largely driven by increasing demand from fresh food & beverages, home & personal care goods, and pharmaceutical industries. The fastest growing material type in the global rigid packaging market is the others segmented which comprises of bioplastics and wood. Bioplastics are made from biodegradable feedstock, which enables them to degrade into the soil similar to other organic matter. The high growth for bioplastics in packaging is due to their rising awareness among the global population and their replacement with conventional plastics.
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The global rigid packaging market based on end-user industries has been classified into food & beverages, pharmaceuticals, personal care and others. The food & beverage segment dominated the rigid packaging market accounting for $308.1 billion in 2016. Rigid packaging plays a key role in food and beverage industry as these packaging material provide longer shelf life to the food items. Rigid packaging products includes bottles, cans, ampules, aerosol containers, aluminum bottles and jars among others. In comparison to other packaging type, rigid packaging containers provide unique benefits such as high impact strength, high stiffness and high barrier properties. The fastest growing end user industry for rigid packaging market is the pharmaceutical industry segment which is expected to grow at a CAGR of 7.9% during the forecast period 2017-2023. Growth in the pharmaceutical rigid packaging market is driven primarily by the Chinese, US, Japanese and European market.
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