Online Grocery Is Fastest Growing Segment Fueling Growth In The Rigid Packaging Market

 


Market Overview:
Rigid packaging is used as protective packaging and is ideal for products requiring high level of protection during storage and transportation. Rigid packaging products such as boxes, cartons, containers, bottles, and others protect products from damage and prevent contamination. They provide durability and sustainability while shipping and storing goods over long distances.

The global Rigid Packaging Market is estimated to be valued at US$ 693,808.32 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the rigid packaging market is growing demand for sustainable packaging solutions. Efforts to reduce plastic usage and invest in eco-friendly materials are driving many packaging companies to adopt renewable and recyclable options. Manufacturers are increasingly focusing on reducing packaging weight while maintaining protection in order to lower shipping cost and carbon footprint. They are also investing in bio-based and compostable material to fulfill environmental regulations. Rapid growth of e-commerce has also increased need for effective rigid packaging for safe delivery of products to customers.


Segment Analysis
The global rigid packaging market can be segmented on the basis of material, product type, and end-use industry. By material, the market is divided into metal, glass, plastic, paper, and others. Plastic is the dominating segment as it has several advantages over other materials like durability, moisture resistance, lightweight and cost-effectiveness. It accounted for over 30% market share in 2023.

Key Takeaways
The global rigid packaging market is expected to witness high growth, exhibiting CAGR of 3.3% over the forecast period, due to increasing demand for packaged food and beverages globally.

Regional analysis: North America accounted for the largest share in the global rigid packaging market in 2023 owing to high demand from food and beverages industry in the region. Asia Pacific is expected to be the fastest growing market over the forecast period due to rapid industrialization and growth of end use industries in countries like China and India.

Market size: The global rigid packaging market size was valued at US$ 693,808.32 Mn in 2023. The market is expected to grow substantially, reaching a value of US$ 961,986.32 by 2030, owing to increasing demand for packaged goods worldwide.

Key players: Key players operating in the rigid packaging market are Amcor Limited, DS Smith Plc., Holmen AB, Plastipak Holding, Berry Plastics Corporation, Reynolds Group Holdings Limited, Sealed Air Corporation, Resilux NV, Sonoco Products Company, and Silgan Holdings. These players are focusing on new product launches and expansion strategies to gain a competitive advantage in the market.

Comments

Post a Comment

Popular posts from this blog

Blowing Agents in Action: Enhancing Sustainability and Performance in Modern Engineering

Image
  Blowing Agents: Unleashing the Power of Expansion in Materials Blowing agents are a remarkable class of chemical compounds that play a pivotal role in various industries, revolutionizing the way materials are manufactured and utilized. These agents are essential additives employed to induce controlled expansion in materials, leading to the creation of diverse products with unique properties and applications. From lightweight foams in packaging to insulating materials and beyond, blowing agents have become indispensable in modern manufacturing processes. 1. Understanding Blowing Agents: Blowing agents are substances designed to generate gas when subjected to specific conditions, such as heat, pressure, or chemical reactions. The produced gas forms bubbles within the material matrix, resulting in a cellular structure with reduced density. This cellular structure not only imparts lightness to the material but also enhances its thermal and acoustic insulation properties. 2. Versatil...
Read more

Multi-Depth Corrugated Box Market Trends 2023 - Industry Insights, Competition Analysis, Growth Rate and Forecast by 2030

Image
  A multi-depth corrugated box is a type of shipping or storage box that has the ability to be adjusted to different depths, allowing for greater flexibility and efficiency in packaging and shipping. This type of box is made of corrugated cardboard, which consists of a fluted layer sandwiched between two flat layers. Multi-depth corrugated boxes are typically made with a series of perforations or scores that allow the box to be easily adjusted to different depths. For example, a box with a height of 10 inches might have perforations at 2-inch intervals, allowing it to be adjusted to a depth of 2 inches, 4 inches, 6 inches, 8 inches, or 10 inches, depending on the specific needs of the user. The advantages of using multi-depth corrugated boxes include reduced inventory costs, improved packing efficiency, and better use of storage space. By using a single box that can be adjusted to different depths, businesses can reduce the number of different box sizes they need to stock and simp...
Read more

Acid Pickling Roll Market Growth Accelerated by Adoption of Anti-Rust Acid Pickle Rolls

Image
  Acid pickle rolls help remove scale, rust or oxide films from metallic surfaces and accurately prepare them for subsequent processing such as coating or plating to improve corrosion resistance. The demand for acid pickling rolls have increased in various end-use industries such as automotive, oil & gas, marine, energy, and general engineering to enhance product durability. The global Acid Pickling Roll Market is estimated to be valued at US$ 1,167 Mn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The growing adoption of anti-rust acid pickling rolls to increase product lifespan across various corrosion prone industrial applications has accelerated the growth of the acid pickling roll market. Acid pickling rolls equipped with advanced rust removal properties efficiently prepare metallic surfaces and ensure long term corrosion protection. Major mar...
Read more