The latest market report published by Credence Research, Inc. “Global Rigid Industrial Packaging Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global rigid industrial packaging market has witnessed steady growth in recent years and is expected to continue growing at a CAGR of 4.90% between 2023 and 2030. The market was valued at USD 31.9 billion in 2022 and is expected to reach USD 44.59 billion in 2030.
The global rigid industrial packaging market has several drivers, including the growing use of rigid industrial packaging as a practical method for protecting manufactured goods during storage. Factors such as urbanization, globalization, and international trade that foster the growth of commercial enterprises are contributing to the increase in the rigid industrial packaging market. However, the market also faces challenges, such as the anticipated decline in the use of rigid industrial packaging due to the increasing demand for flexible packaging materials. This challenge is expected to limit the expansion of the rigid industrial packaging sector.
The market is segmented by material, with plastic holding the majority share, and by application, with the food & beverages segment dominating the demand for rigid industrial packaging. Asia Pacific accounts for a significant share of the market, followed by North America and Europe.
Key players in the market include 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, and others. These players focus on product innovation, expanding their distribution channels, and mergers and acquisitions to maintain their competitive edge.
U.K Rigid Industrial Packaging Market Drivers are essential factors that shape the growth and development of this sector. One significant driver is the increasing demand for sustainable packaging solutions driven by environmental concerns. As consumers become more conscious of their carbon footprint, there is a growing need for rigid industrial packaging made from recyclable materials or those with reduced plastic content. This trend has led to an upsurge in innovation, with companies investing in research and development to create eco-friendly alternatives without compromising on durability or performance. Another key driver is the rising e-commerce industry, which requires robust packaging solutions to protect goods during transit.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Rigid Industrial Packaging Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the Route of Administration and Application
- Major nations in each region with their import/export statistics
- The global Rigid Industrial Packaging Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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