Rigid Packaging Market Size, Share, Growth Analysis, By Material(Plastic, Wood, Metal, Glass), By Application(Food & Beverages, Pharmaceuticals, Personal Care, Industrial), By Product(Bottle & Jars, Trays, Boxes, Containers), By Production process(Extrusion, Injection Molding, Blow Molding, Thermoforming), By Region - Industry Forecast 2024-2031

Rigid Packaging Market size was valued at USD 356.25 billion in 2019 and is poised to grow from USD 369.21 billion in 2023 to USD 492.3 billion by 2031, growing at a CAGR of 3.6% in the forecast period (2024-2031).

The rigid packaging market is fragmented in nature and is dominated by industry players. Companies in the market have used a variety of strategies, including expansion, mergers and acquisitions, partnerships, and joint ventures, to increase their footprint and, as a result, their market shares. 'Amcor plc', 'Berry Global, Inc.', 'Ball Corporation', 'Crown Holdings, Inc.', 'Sealed Air Corporation', 'DS Smith Plc', 'WestRock Company', 'Sonoco Products Company', 'Huhtamaki Oyj', 'Ardagh Group S.A.', 'Silgan Holdings Inc.', 'Owens-Illinois, Inc.', 'Graphic Packaging Holding Company', 'Tetra Pak International S.A.', 'Smurfit Kappa Group plc', 'Mondi plc', 'Coveris Holdings S.A.', 'Gerresheimer AG', 'Bemis Company, Inc.', 'AptarGroup, Inc.'

Rigid packaging can be made in just about any shape. One can make cavities that properly fit the products. Flexible packaging, which usually only resembles a bag or pouch, is really only appropriate for a small number of home goods and food products, such as holding dishwasher detergent pods. A vast range of things, including food, medicine, electronics, toys, personal care products, office supplies, equipment, and much more, can be packaged in rigid plastic. In comparison to plastic materials, cardboard packaging may be moulded into a wide variety of shapes, but the cost of producing intricate cardboard patterns can be very high.

Emergence of Sustainable Packaging: Sustainable packaging, sometimes known as green packaging, is a recent development in the industry. The demand for renewable and environmentally friendly materials is increasing as a result of strict restrictions surrounding the recycling of packing materials. Over the past few years, the demand for bioplastics for packaging has grown significantly, and it is projected that this trend will persist over the coming years. 

Asia-Pacific is dominating the rigid packaging market in terms of revenue share. This is attributable to the growing customer preference for internet shopping, rapid urbanisation, and the thriving manufacturing industry. Asia-Pacific dominates the industry due to the presence of several manufacturers of food, drinks, and personal care products. Rigid packaging market is primarily driven by the large populations and rapid economic growth of emerging nations like China and India. With products like yoghurt, sour milk products, and bottled water being supplied in rigid plastic packaging, the region's beverage and packaged food markets are expanding quickly. India has been gaining considerable traction in the rigid packaging market, particularly due to widespread beverage and food applications. The demand for rigid beverage packaging in India has increased as more people switch to bottled water as a more hygienic option to water purifiers.North America, meanwhile, is predicted to grow significantly between 2023 and 2030 due to the existence of notable businesses, rigid packaging rules, and soaring e-commerce sales. Regulations regarding recycling and sustainability of materials in order to maintain environmental balance are triggering the demand for bioplastic packaging solutions. Also, due to its extensive production infrastructure for packaging materials, North America is predicted to have tremendous development. There are more established companies for rigid packaging in North America and Europe, like Reynolds Group Holding, Sonoco, and Amcor Limited. The need for rigid packaging materials from the healthcare sector is likely to drive significant growth in Europe.