The global rigid packaging market size is projected to reach USD 848.71 billion by 2025
LONDON, June 12, 2018 /PRNewswire/ -- Rigid Packaging Market Size, Share & Trends Analysis Report By Material (Plastic, Metal, Paper, Glass, Bioplastic), By Application (Food & Beverage, Pharmaceuticals, Personal Care), And Segment Forecasts, 2018 - 2025
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The global rigid packaging market size is projected to reach USD 848.71 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.7% during the forecast period. Increasing demand for sustainable packaging is expected to augment the market over the forecast period.
Packaging is a process of protecting and enclosing goods for storage, distribution, and sale.Rigid packaging is a type of packing which is characterized by high stiffness, impact strength, and barrier properties.
It is offered in several forms, including jars, containers, bottles, and cans.
Raw materials required for manufacturing of rigid packing include metals, paper & paperboard, glass, and plastic.Suppliers of these materials are present worldwide, making the market fragmented.
Rio Tinto and Alcoa are some of the key suppliers of metals such as aluminum, while ArcelorMittal is the largest steel manufacturer in the world.
Final products are sold by distributors, retailers, and wholesalers. Major players in this stage include Packaging Supplies Ltd., Packing Suppliers of America, Paper Mart, and Packaging Centre. Some of the manufacturers have adopted integration wherein they sell the products through exclusive outlets.
Rigid packaging accounted for over 80.0% of the total packing industry in 2016. However, flexible packing offers more advantages as compared to rigid ones such as lightweight, energy savings, small pack size, ease of transportation & storage, and convenient disposal. Hence, the flexible packing market is expected to make inroads in the rigid packaging market in the coming years.
Further Key Findings from the Report Suggest:
• In terms of materials, plastics dominated the market in 2015 and it is anticipated to witness a CAGR of 6.4% in terms of volume over the forecast period
• Paper & paperboard is expected to register a CAGR of 7.1% in terms of revenue during the same period. Recyclability of the material has made it the most commonly used product in the industry
• The personal care application segment is anticipated to rise at a CAGR of 6.3% in terms of revenue over the coming year due to increasing demand for personal care products
• Asia Pacific is estimated to post a CAGR of 7.6% in terms of revenue from 2016 to 2025 due to increasing demand from China and India
• In August 2016, Berry Plastics Group, Inc. acquired AEO Industries Inc. in the U.S. This acquisition strengthened the company's position in the North America market.
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