Rigid Food Packaging Market: Segmented by Material (Plastic, Metal, Paper & Paperboard, Glass and Bioplastic); By Application (Food & beverages, Pharmaceuticals, Personal care and Others); and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] Rigid Food Packaging Market to surpass USD 934.73 billion by 2030 from USD 564.95 billion in 2020 at a CAGR of 6.9% in the coming years, i.e., 2021-30.
The process of enclosing or covering finished food items for delivery, storage, sale, and end-use is known as packaging. Rigid packaging has become increasingly relevant in the food and beverage industry because it extends the shelf life of packaged foods. Bottles, cans, ampules, aerosol containers, aluminum bottles, and jars are examples of rigid packaging containers. As compared to other forms of packaging, rigid plastic packaging containers provide distinct advantages such as high impact strength, stiffness, and barrier properties, all of which have contributed to the growth of the rigid plastic packaging medium market in recent years.
Global Rigid Food Packaging market is expected to project a notable CAGR of 6.9% in 2030.
Booming e-commerce industry around the world is driving demand for rigid packaging. Many customers are switching from conventional shopping to online shopping for a variety of reasons, including the availability of various products, faster delivery, simpler return policies, and free shipping. Furthermore, the trade-related agreement among countries is boosting the market's growth.
Plastic segment to grow with the highest CAGR during 2020-30
Global Rigid Food Packaging market is segmented by material into Plastic, Metal, Paper & Paperboard, Glass, and Bioplastic. Plastic segment held the largest market share in the year 2020. Plastic's advantages, such as high strength and stability, have made it a common material for rigid packaging. Furthermore, it can be shaped into a variety of shapes and sizes without sacrificing consistency. Aluminum, stainless steel, and tin are among the metals used. Aluminum is the most common metal used in rigid packaging. Metals are used to make a variety of packaging materials, including containers and cans. Because of their immense strength and toughness, metals are often used. It's most widely used as a tertiary source of packaging, forming the outermost packaging layer that doesn't come into direct contact with the product.
Food & beverages segment to grow with the highest CAGR during 2020-30
Global Rigid Food Packaging market is divided by application into Food & beverages, Pharmaceuticals, Personal care, and Others. Over the forecast period, the Food & beverages segment is projected to expand at the fastest pace. Increased demand for packaged food as a result of shifting lifestyles is expected to be one of the segment's key growth drivers. The booming beverage industry, which is driven by goods like liquor and energy drinks, is driving up demand for rigid packaging. Pharmaceutical packaging is done to protect drugs from being infected and to keep microbial growth at bay. Drugs with proper packaging have a longer shelf life. The demand for rigid packaging is expected to rise as spending on medicines and medical devices rises.
Increased Storage Period and Surging Demand from End Users
The market for rigid packaging is expected to expand in response to rising demand for industrial bulk packaging across a variety of industries. The growing use of pails, drums, and kegs in bulk packaging is expected to drive rigid packaging market development. Furthermore, rigid intermediate bulk containers (RBCs) are gaining popularity in the packaging industry as a means of simplifying handling and transportation, resulting in market expansion.
The market is expected to expand due to the increasing use of paperboard in rigid packaging for environmental reasons. Paper and paperboard can be reused several times, making them an excellent packaging material that also helps to reduce total packaging costs. As a result, the growing need for environmental sustainability is fueling demand for paper-based rigid packaging, which is driving rigid packaging market development.
Competition from Local Manufacturers and High Costs Associated with Market
The use of rigid packaging is expected to be limited as the demand for flexible packaging materials grows. This aspect is expected to stifle the growth of the rigid packaging industry. Strict rules and regulations are expected to stifle demand growth due to increasing concerns about the use of single-use plastic and other grades of plastic in rigid packaging.
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Global Rigid Food Packaging market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.Global Rigid Food Packaging in the Asia Pacific held the largest market share in the year 2020. The pharmaceutical and food and beverage industries are rapidly expanding in this area. Furthermore, emerging economies such as China and India are expected to see a significant increase in rigid packaging demand over the forecast period. In North America, the United States was the leading income contributor. In 2020, the most common material in this area was plastic. One of the main drivers of the regional market is the robust development of the food and beverage industry. Regulations requiring recycling and material protection in order to preserve environmental balance are driving demand for bioplastic packaging.
Global Rigid Food Packaging Market is further segmented by region into:
Rigid Food Packaging Market Segments:
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