Rigid Plastic Packaging Market, by Raw Material, Type, Production Process, and Region – Global Forecast to 2026
The “Rigid Plastic Packaging Market by Raw Material (PE, PET, PP, PVC, EPS, PS, Bioplastic), Type (Bottles and Jars, Trays, Mugs, Mugs and Pots), Production Process (Extrusion, Injection Molding), Application, and Region – Global Forecast to 2026 “report was added to ResearchAndMarkets.com to offer.
The rigid plastic packaging market is projected to grow from $ 198.9 billion in 2021 to $ 250.2 billion in 2026, with a CAGR of 4.7% over the forecast period.
Rigid plastic packaging exclusively involves the use of a rigid plastic material that shows no elastic deformation and has a relatively rigid shape or form. It includes products such as bottles and jars, trays and blister packs. The global rigid packaging market has grown rapidly in recent years, mainly due to features such as light weight, flexibility and durability.
In terms of value and volume, the Bottles & Jars segment is expected to lead the global rigid plastic packaging market in 2020.
The Bottles & Jars segment acquired the largest share of the market for rigid plastic packaging in terms of value in 2020 and is expected to grow with the second-highest CAGR in the forecast period. Rigid plastic bottles are used to package various products such as water, juices, carbonated soft drinks, cosmetics, food, personal care products, and pharmaceutical products. Most of these bottles and jars are made from PET, PE, PP, HDPE, PS and PVC. The thriving retail trade combined with the rise in consumer disposable income. The growing population, increasing urbanization and increasing demand for beverages and household care products are fueling market growth.
The extrusion segment is expected to lead the rigid plastic packaging market during the forecast period.
The extrusion segment is expected to lead the rigid plastic packaging market during the forecast period. The process enables a variety of tool profiles that enable manufacturers to produce parts and products with a variety of simple to highly complex continuous cross-sections. The extruded roll material is ready for thermoforming with no curing time required. Since the extrusion process often uses thermoplastics that can be repeatedly subjected to the melting, molding, and curing processes, the overall material and disposal costs for an extrusion process are lower than other molding processes.
The story goes on
In terms of value and volume, the Asia Pacific Rigid Plastic Packaging Market is expected to grow at the highest CAGR over the forecast period.
The Asia-Pacific region had the largest share in 2020 and is also expected to see the highest growth rate over the forecast period. For countries such as India and China, high growth in the market for hard plastic packaging is expected due to growing development activities and rapid economic expansion. In addition, the growing populations in these countries represent a huge customer base for FMCG products and consumer durables, which in turn should lead to growth in the rigid plastic packaging market.
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