Rigid Packaging Market to Build Excessive Revenue at Healthy Growth Rate by 2025

Posted by aartimurkute on October 25th, 2021

Consistently swelling worldwide manufacturing output remains the key factor driving the rigid packaging market. According to a new upcoming research study of Fairfield Market Research, demand for rigid packaging will continue to see an uptrend in the near future majorly on account of the ascending spending on packaged products. Evolving consumer preferences in favour of packaged food industry are also expected to work to the advantage of rigid packaging solution providers. Banking on the advent of technology, and innovative developments in packaging industry, rigid packaging has been the packaging type of choice for a variety of industrial domains like healthcare, pharma, chemicals, consumer goods, food and beverages, and beauty and personal care.

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The ability of rigid packaging formats to offer excellent protection along with lasting storage in an isolated is likely to remain the prime factor fuelling its adoption in global market, says the report. The stronger, lighter, and shatter-resistant attributes in addition to the excellent barrier properties will continue to sustain demand through 2025. With greater popularity across end-use sectors involving bulk packaging applications, the market for rigid packaging solutions sees strong growth prospects. Unprecedented ecommerce expansion, and consecutively surging demand for convenient packaging solutions across all product categories are also the important factors providing a strong impetus to market growth.

Remunerative Opportunity Concentrated in F&B

Bottles, and cans have been the sought-after rigid packaging alternatives for a majority of food and beverages companies. The flourishing prospects of convenience foods sector are likely to play out as an important factor boosting demand. Growth opportunities will continue to spring up the F&B as a result of thriving world population, mounting demand for food supply, and proliferation of processed food facilities worldwide. Demand for economic, aseptic, spill-free, and damage-resistant packaging formats is expected to sustain both food supply industries, and rigid packaging businesses.

Plastic Remains Highly Sought-after; Paperboard Emerges Lucrative

Material-wise analysis of the global rigid packaging market reveals that plastic continues to be the most preferred one when compared with glass, metal, and paperboard. Plastic containers are expected to enjoy continued demand growth on account of their cost benefit over other material alternatives. Higher compatibility of plastics for the various processing technologies, resealing, opening and dispensing, and graphical printing technologies will continue to sustain demand throughout the period of assessment. Superior shatter resistance is also cited as one of the most significant attributes pushing preference for plastics as a material of choice in rigid packaging space.

On the other hand, metal can remain a popular choice as well on the back of their endurance, lasting shelf-life, higher recyclability, tamper resistance, and an economical price point. In the wake of escalating concerns around sustainability of packaging materials, paperboard is also gathering traction as an eco-friendly alternative. The relatively competitive pricing structure, lighter weight, and greater compatibility for high-quality graphics will further elevate its market attractiveness in the near future. The maximum gains are expected to come from spiralling adoption in ecommerce, followed by manufacturing, medical, F&B, and beauty and personal care industries.

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Asia Pacific Houses Multiple Opportunities

Fast-developing Asian economies like China, India, and Indonesia reflect substantial growth potential in rigid packaging space. While the report attributes this to considerably scaling economies of these countries, and booming manufacturing sector, significant gains are expected from ballooning ecommerce in addition to the flourishing markets for (fast moving) consumer goods, electronics, and convenience food products.

Key Market Players

The global rigid packaging market report provides an insightful view of the most prominent players operating in market. Some of the key companies include Amcor Limited, Bemis Company, Sealed Air Corporation, Alpla,Reynolds Group Holdings, Berry Global Group Inc., Mondi Group, Sonoco Products Co, Silgan Holdings Inc., Holmen AB, Pactiv LLC, Georgia-Pacific LLC, Crown Holdings Inc., Gerresheimer AG, DS Smith Plc.