The global Rigid Packaging Market Growth Accelerated by Sustainable Production

 

Rigid packaging provides protection and extends the shelf life of packaged products. It includes bottles, jars, and cans made from metals, glass, and plastics. Rigid packaging is increasingly being adopted for beverages, food, personal care, and pharmaceutical products owing to its durability and reuse properties.

The global Rigid Packaging Market is estimated to be valued at US$ 270 billion in 2024 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:
 Sustainable production has become one of the key trends in the rigid packagingmarket. Manufacturers are focusing on reducing the carbon footprint of rigid packaging production by adopting renewable energy sources and recyclable or biodegradable packaging materials. For instance, packaging companies are using recycled plastics, plant-based plastics, and renewable energy in manufacturing processes. The shift towards eco-friendly rigid packaging production is expected to gain momentum over the forecast period owing to rising environmental awareness and implementation of stringent regulations on plastic waste worldwide.


Segment Analysis
 The global rigid packaging market is segmented on the basis of material and application. Based on material, the rigid plastic packaging segment accounted for the largest share of the market in 2022 owing to its widespread use for packaging of food & beverages, personal care products among others. Rigid plastic provides durability as well as protection from moisture, dust and other external agents making it suitable for packaging of various goods. In terms of application, the food & beverage segment dominated the market due to increase in consumption of packaged foods and beverages. Rigid packaging such as bottles, cans and jars are extensively used for packaging of alcoholic and non-alcoholic beverages, processed foods, dairy products etc.

Key Takeaways
 The global rigid packaging market is expected to witness high growth. The global Rigid Packaging Market is estimated to be valued at US$ 270 billion in 2024 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030.

Asia Pacific accounted for the largest share of the rigid packaging market in 2022 owing to rapid industrialization, growing consumption of ready-to-eat foods and rising disposable income in developing economies of China and India. Key players like Amcor, Berry Global, DS Smith, Holmen, International Paper, Reynolds Group Holdings, Sealed Air etc. are focused on expanding their production facilities and offerings in Asia Pacific to leverage growth opportunities.

Key players operating in the rigid packaging market are Amcor, Berry Global, DS Smith, Holmen, International Paper, Reynolds Group Holdings, Sealed Air. Amcor is one of the leading players in rigid plastic packaging with a strong portfolio of packaging solutions for food, beverage, pharmaceutical and personal care industries.

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