Global Rigid Plastic Packaging Market to Reach US$ 353.2 Billion by 2032, Fueled by Growing Product Utilization Across F&B Sector

June 09, 2023 | Packaging

According to the latest report by IMARC Group, titled “­­Rigid Plastic Packaging Market Report by Product (Bottles and Jars, Trays and Containers, Caps and Closures, and Others), Material (Polyethylene (PET), Polypropylene (PP), High Density Polypropylene (HDPE), and Others), Production Process (Extrusion, Injection Molding, Blow Molding, Thermoforming, and Others), End Use Industry (Food and Beverages, Personal Care and Cosmetics, Household, Healthcare, and Others), and Region 2024-2032,” the global rigid plastic packaging market size reached US$ 240.5 Billion in 2023. Rigid plastic packaging includes bottles, jars, cups, trays, and containers made from durable and inflexible plastic materials such as polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polystyrene (PS). It can maintain its shape and structure, offering excellent resistance to impact, crushing, and deformation, providing a robust and protective enclosure for various products. In addition to this, rigid plastic packaging provides a barrier against moisture, gases, and contaminants, thus preserving the quality and freshness of packaged products. It can also be easily customized through various printing and labeling techniques, enabling companies to showcase their brand logos, product information, and attractive designs. As a result, rigid plastic packaging is extensively used across the food and beverages (F&B), pharmaceuticals, cosmetics, and consumer goods industries.

Global Rigid Plastic Packaging Market Trends:

Widespread product utilization across the bolstering F&B industry, as they offer excellent protection and safety for products, preventing damage, contamination, and spoilage, represents the key factor driving the market growth. Besides this, rigid plastic packaging offers convenience, portability, and ease of use, making it a popular solution among consumers for on-the-go snacking. Moreover, the flourishing growth of the e-commerce industry, which requires secure and durable packaging solutions to protect products during transportation, is presenting remunerative growth opportunities for the market. Concurrent with this, the increasing demand for safe, tamper-proof, and contaminant-free packaging solutions from the thriving pharmaceutical industry to protect sensitive drugs and ensure patient safety is aiding in market expansion. In addition to this, the surging product demand for its versatility in design, shape, and size, allowing for customized packaging solutions and appealing product presentations to enhance brand visibility, is acting as a significant growth-inducing factor. Furthermore, ongoing technological advancements in the plastic manufacturing technologies, such as injection and blow molding, resulting in improved product quality, cost-effectiveness, and faster production cycles, are contributing to the market growth. Looking forward, the market value is projected to reach US$ 353.2 Billion by 2032, expanding at a CAGR of 4.23% during 2024-2032.

Market Summary:

  • On the basis of the product, the market has been divided into bottles and jars, trays and containers, caps and closures, and others. Currently, bottles and jars dominate the market, holding the largest share.
  • Based on the material, the market is classified into polyethylene (PET), polypropylene (PP), high density polypropylene (HDPE), and others. At present, polypropylene (PP) accounts for the majority of the global share.
  • On the basis of the production process, the market has been segregated into extrusion, injection molding, blow molding, thermoforming, and others. Among these, extrusion represent the biggest market segment.
  • Based on the end use industry, the market is categorized into food and beverages, personal care and cosmetics, household, healthcare, and others. Currently, food and beverage is the biggest end-use industry.
  • On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being ALPLA, Altium Packaging LLC, Amcor plc, Berry Global Inc., DS Smith plc, Graham Packaging Company, Pactiv Evergreen Inc., Plastipak Holdings Inc., Saudi Basic Industries Corporation (Saudi Arabian Oil Company), Silgan Holdings Inc., Sonoco Products Company and Winpak Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
 Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product, Material, Production Process, End Use Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ALPLA, Altium Packaging LLC, Amcor plc, Berry Global Inc., DS Smith plc, Graham Packaging Company, Pactiv Evergreen Inc., Plastipak Holdings Inc., Saudi Basic Industries Corporation (Saudi Arabian Oil Company), Silgan Holdings Inc., Sonoco Products Company and Winpak Ltd.
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Global Rigid Plastic Packaging Market to Reach US$ 353.2 Billion by 2032, Fueled by Growing Product Utilization Across F&B Sector
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