The global rigid industrial packaging market size is expected to flourish stoked by the increasing demand from the food and beverage industry. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Rigid Industrial Packaging Market, 2022-2029.” Sustainable packaging is largely discussed among environmentalists due to the rising concerns regarding the disposal of non-degradable packaging containers. Governments worldwide are acting upon systematic disposal and management of packaging waste. For instance, 16 states in the U.S. have enforced regulations regarding packaging waste to minimize the use of single-use plastics.
The COVID-19 pandemic is growing to be the biggest health emergency of all time. The unprecedented spread of the novel coronavirus has led countries to enforce nationwide, prolonged lockdowns, due to which businesses across the world have come to a standstill. At Fortune Business Insights™, we closely study the market from various perspectives in order to identify new growth opportunities.
We have categorized the market on the basis of material, application, and geography. In terms of material, the market is divided into plastic, metal, paper & paperboard, glass, and bioplastic. Based on application, it is fragmented into food & beverages, pharmaceuticals, personal care, and others. On the basis of geographic locations, it is segmented into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.
Highlights of the Report:
This report incorporates an in-depth analysis of the overall growth prospects in the market. Furthermore, it provides insights into the comprehensive competitive landscape of the global market. A dashboard overview of leading companies, including their marketing strategies, market contribution, and recent developments is presented in both historic and present contexts.
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Drivers & Restraints-
Increasing Demand from Food & Beverages Industry to drive Growth
The increasing demand from the food & beverages industry is projected to drive the global rigid industrial packaging market growth. In addition, several other industries including pharmaceutical, retail, and cosmetics are also showcasing high demand for rigid industrial packaging, surging its adoption worldwide. For instance, as published by the United States Environmental Protection Agency, in 2018, containers and packaging accounted for nearly 82.2 million tons of municipal solid waste, which is around 28.1% of the total generation. In addition, the increasing demand for packaged food products backed by the fast moving urban lifestyle of consumers is expected to surge the utilization of rigid packaging. However, a large number of packaging and containers are made of plastic, which is not a biodegradable material. Rising concerns regarding the disposal of bottles and containers may hinder market growth during the forecast period.
Presence of Key Manufacturers to Boost Demand in Asia Pacific
Asia Pacific is estimated to dominate the rigid industrial packaging market share during the forecast period. The region is home to more than 50% of the global population. Therefore, most of the manufacturing, production, and assembling units are established in countries such as India and China. In addition, industries, such as food and beverage and personal care, are booming in the developing countries due to improving economic conditions. These factors are anticipated to bolster the demand for rigid industrial packaging in the region.
North America is projected to hold a significant market share during the projected timeline. The high consumption of packaged food in the U.S. is estimated to be the primary factor driving the demand for rigid packaging in the region. For instance, according to the New York Times, the population of the U.S. consume 31% more packaged food than a whole meal.
Mergers and Acquisitions with Leading Firms to Help Key Players Strengthen Presence
Key players operating in the global rigid industrial packaging market are embarking on expansion strategies. They are focusing on mergers and acquisitions with leading enterprises in order to strengthen their positions in the market. For instance, in June 2019, Amcor announced the acquisition of Bemis Company, a global manufacturer of flexible packaging products and pressure-sensitive materials. The acquisition will help Amcor bring additional capabilities and scale, which will help the company to strengthen its position in the market.
- In July 2019, Berry Global Group Inc., completed the acquisition with RPC Group Plc. This acquisition helped to increase the service for value added protective solutions and made them world’s largest plastic packaging company.
List of Key Players Covered in the Rigid Industrial Packaging Market Report:
- Amcor Limited
- Berry Plastics Corporation
- Georgia-Pacific Corporation
- Plastipak Holdings Inc.
- Tetra Pak International
- Bemis Company Inc.
- DS Smith Plc
- Holmen AB
- Reynolds Group Holding
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