Rigid Plastic Packaging Market Size, Share, Growth Analysis, By Product Type(Bottles, Jars, Trays, Containers), By Raw Material(Polyethylene (PE), High-Density Polyethylene (HDPE), Polystyrene (PS), Polypropylene (PP)), By Application(Food & Beverages, Healthcare, Cosmetics & Toiletries, Industrial), By Production Process(Extrusion, Injection Molding, Blow Molding, Thermoforming), By Region - Industry Forecast 2024-2031

Rigid Plastic Packaging Market size was valued at USD 132.54 billion in 2019 and is poised to grow from USD 139.83 billion in 2023 to USD 203.42 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

The rigid plastic packaging market is highly competitive. For the purpose of lowering costs and enhancing the performance of packaging, businesses are concentrating on offering lightweight and high-performance grades. The market is highly competitive because there are lots of players present. 'Amcor Plc', 'Berry Inc.', 'Sealed Air Corporation', 'RPC Group Plc', 'Huhtamaki Oyj', 'Silgan Holdings Inc.', 'Sonoco Products Company', 'DS Smith Plc', 'ALPLA Werke Alwin Lehner GmbH & Co KG', 'Consolidated Container Company', 'Crown Holdings Inc.', 'Graham Packaging Company', 'Plastipak Holdings Inc.', 'Printpack Inc.', 'Winpak Ltd.', 'AptarGroup Inc.', 'Coveris Holdings SA', 'Tekni-Plex Inc.', 'Pactiv LLC', 'Gerresheimer AG'

One of the key drivers of the market's expansion in recent years has been the healthcare sector's rising demand for rigid plastic packaging. Businesses in the healthcare sector use rigid plastic to protect medications from infection. International regulatory criteria for safety must be met by the medical product packaging. As a result, rigid plastic is ideal for keeping medical supplies due to its characteristics, which also include its strength, light weight, cleanliness, and clarity.

Sustainable packaging is undoubtedly the most important trend that will shape the future of this business, as awareness of climate change and the reality that consumer goods' packaging is mostly to blame for pollution is expanding. Packaging that uses sustainable materials, has a green supply chain, and is reusable, recyclable, or biodegradable will prosper.

The rigid plastic packaging market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Among these regions, the Asia-Pacific region is projected to hold the most substantial share of more than 45% in 2021. India and China are the two key countries that lead the Asia-Pacific rigid plastic packaging market. The presence of a large pool of population in the region demands more FMCG and consumer durable products; which further requires proper packaging products which is likely to aid the growth of the market during the forecast period. On the other hand, the availability of cost-effective raw materials, cheap labour as well as manufacturing land and other manufacturing facilities make the manufacturers shift their plants in the region, especially in these countries which again fuels the market growth during the forecast period. In addition to this, the packaging sector has seen a rapid penetration of plastics in the region since the last decade, backed by the rise in the e-commerce sector. Moreover, the growth in the food & beverage sector is further augmenting the demand for plastics in packaging, as it ensures food safety, quality, and long shelf life. Since packaged food is one of the fastest-growing industries, it is expected to fuel the demand for plastic packaging and turn, will drive the plastics industry growth in the region.

Rigid Plastic Packaging Market size was valued at USD 132.54 billion in 2019 and is poised to grow from USD 139.83 billion in 2023 to USD 203.42 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

The rigid plastic packaging market is highly competitive. For the purpose of lowering costs and enhancing the performance of packaging, businesses are concentrating on offering lightweight and high-performance grades. The market is highly competitive because there are lots of players present. 'Amcor Plc', 'Berry Global Inc.', 'Sealed Air Corporation', 'RPC Group Plc', 'Huhtamaki Oyj', 'Silgan Holdings Inc.', 'Sonoco Products Company', 'DS Smith Plc', 'ALPLA Werke Alwin Lehner GmbH & Co KG', 'Consolidated Container Company', 'Crown Holdings Inc.', 'Graham Packaging Company', 'Plastipak Holdings Inc.', 'Printpack Inc.', 'Winpak Ltd.', 'AptarGroup Inc.', 'Coveris Holdings SA', 'Tekni-Plex Inc.', 'Pactiv LLC', 'Gerresheimer AG'

One of the key drivers of the market's expansion in recent years has been the healthcare sector's rising demand for rigid plastic packaging. Businesses in the healthcare sector use rigid plastic to protect medications from infection. International regulatory criteria for safety must be met by the medical product packaging. As a result, rigid plastic is ideal for keeping medical supplies due to its characteristics, which also include its strength, light weight, cleanliness, and clarity.

Sustainable packaging is undoubtedly the most important trend that will shape the future of this business, as awareness of climate change and the reality that consumer goods' packaging is mostly to blame for pollution is expanding. Packaging that uses sustainable materials, has a green supply chain, and is reusable, recyclable, or biodegradable will prosper.

The global rigid plastic packaging market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Among these regions, the Asia-Pacific region is projected to hold the most substantial share of more than 45% in 2021. India and China are the two key countries that lead the Asia-Pacific rigid plastic packaging market. The presence of a large pool of population in the region demands more FMCG and consumer durable products; which further requires proper packaging products which is likely to aid the growth of the market during the forecast period. On the other hand, the availability of cost-effective raw materials, cheap labour as well as manufacturing land and other manufacturing facilities make the manufacturers shift their plants in the region, especially in these countries which again fuels the market growth during the forecast period. In addition to this, the packaging sector has seen a rapid penetration of plastics in the region since the last decade, backed by the rise in the e-commerce sector. Moreover, the growth in the food & beverage sector is further augmenting the demand for plastics in packaging, as it ensures food safety, quality, and long shelf life. Since packaged food is one of the fastest-growing industries, it is expected to fuel the demand for plastic packaging and turn, will drive the plastics industry growth in the region.