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Rigid Packaging Market to Reach US$755.9 Billion by 2024, Rising Demand for Ready-to-Eat Products Drive Growth - TMR

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News provided by

Transparency Market Research

Mar 25, 2019, 07:00 ET

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ALBANY, New York, March 25, 2019 /PRNewswire/ -- The global rigid packaging market depicts a competitive and highly fragmented landscape. There is a robust emergence of small and mid-size players in the market globally, reports Transparency Market Research (TMR). The small-sized players are also adopting competitive strategies to pose more challenges to major players, adds TMR. Some of the main players in the global rigid packaging market are Ball Corporation, Crown Holdings, ALPLA Werke Alwin Lehner GmbH and Co KG, Reynolds Group, and Tetra Pak.

Major companies in the rigid packaging market are investing in research and development to expand the material base for packaging products. Additionally, some of the main players are also focused on expanding supply chain logistics to reach new customers. Many players in the rigid packaging market are finding notable success with product design enhancements. Steady expansion in this emerging market is the next frontier for established companies in the global rigid packaging market.

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TMR estimates that the global rigid packaging market will reach US$755.9 billion by 2024 end, growing at a steady 3.2% CAGR during 2016-2024. The food and beverage industry is expected to account for nearly one third of the total revenue in the global rigid packaging market. Rising demand for ready-to-eat food products are expected to drive growth, especially in Asia Pacific. The demand in Asia Pacific is mainly emerging from China and India.

Bio-Polymer Plastics to Propel the Rigid Packaging Market

Rigid packaging products are made up of various materials including glass, metal, paper and paperboard, and plastics. Among these, plastics and paper materials have often held a significant share of the global rigid packaging. These materials are anticipated to account for over 70% of the total market share during 2016-2024. The reliability, cost-effectiveness, and stability of products like PET are resulting in widening applications for manufacturers.

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However, these products are also facing scrutiny due to growing awareness about their harmful effects to the environment and in some cases, to human being as well. Hence, bio-polymers are increasing becoming appealing to manufacturers. Several bio-degradable polymer materials have received an approval for a widespread use and many are in the approval pipeline. Their effectiveness in safekeeping food products is expected to result in significant growth for the rigid packaging market in the near future.

Rising Demand for Ready-to-Eat Products to Drive the Rigid Packaging Market

Increasing lifestyle trends world over are driving demand for ready-to-eat products. Additionally, new e-commerce channels are opening new opportunities for the rigid packaging market players with an added convenience of home-deliveries.

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Increasingly fast-paced life, changing family patterns, and improving lifestyles are expected to continue steady demand for ready-to-eat products in the near future. Additionally, growing awareness about health is also driving demand for juices, milk products, and energy drinks to stimulate growth in the rigid packaging market.

Moreover, growing disposable income and a large population in the Asia Pacific are expected to offer robust opportunities for growth for many players in the rigid packaging market. Along with India and China, Middle East region is also expected to emerge as a leading driver for growth during the forecast period.

Browse Research Release at: https://www.transparencymarketresearch.com/rigid-packaging-market.html

The information presented in this review is based on a Transparency Market Research report, titled, "Rigid Packaging Market (Material - Plastic, Metal, Glass, Wood, and Paper and Paperboard; Product - Trays, Boxes, Containers and Cans, and Bottle and Jars; Application - Food and Beverages, Chemical and Petrochemical Industry, Consumer Goods, and Healthcare and Pharmaceuticals) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024."

Key segments of the global rigid packaging market are as follows:

  • Material
    • Plastic
    • Metal
    • Glass
    • Wood
    • Paper & Paperboard
  • Product
    • Boxes
    • Trays
    • Containers & Cans
    • Bottles & Jars
    • Others
  • Application
    • Food & Beverages
    • Chemical & Petrochemical Industry
    • Consumer Goods
    • Healthcare & Pharmaceuticals
    • Other Industries
  • Region
    • North America
    • Latin America
    • Europe
    • Asia
    • MEA

Browse More: Packaging Research Reports

Popular Research Reports by TMR:

  • Cosmetic Packaging Market: https://www.transparencymarketresearch.com/cosmetic-packaging-market.html 
  • Paper Straws Market : https://www.transparencymarketresearch.com/paper-straws-market.html
  • Advanced Packaging Technologies Market : https://www.transparencymarketresearch.com/advanced-packaging-technologies-market.html 

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact
Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Website: https://www.transparencymarketresearch.com 
Research Blog: https://tmrblog.com/ 

SOURCE Transparency Market Research

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