The latest market report published by Credence Research, Inc. “Rigid Plastic Packaging Market By Resin Type (Polyethylene, Polyethylene Terephthalate, Polypropylene, Polystyrene, Polyvinyl Chloride, Expanded Polystyrene, Others), By End-use industry (Beverages, Food, Healthcare, Personal Care, Industrial, Others), By Type (Bottles & Jars, Trays, Tubs Cups & Pots, Rigid Bulk Products and Others) and By Region (North America, Europe, Asia Pacific, Latin America, & Middle East & Africa) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global rigid plastic packaging market was valued at US$ 195.56 Bn in 2016, expanding at a CAGR of 5.7% from 2017 to 2025.
Browse the full report Rigid Plastic Packaging Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/rigid-plastic-packaging-market
Rigid plastic packaging possesses features such as lightweight, flexible, and durable, which makes it suitable solution for packaging of products used in different industries such as beverages, food, healthcare, personal care and so on. Rigid plastic packaging products includes bottles & jars, trays, and blister packs.
The global rigid plastic packaging market is expected to witness significant growth during the forecast period owing to various factors such as changing lifestyles and consumer shifts towards packaged foods, increasing demand from end-use industries such as food & beverage and healthcare. Apart from these, additional factors such as growing retail sector, rising disposable income and acceleration in industrial activities in the emerging economies, are likely to fuel the growth of the rigid plastic packaging market during the forecast period.
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Advancements in terms of product innovations and technologies are also expected to create strong investment opportunities for rigid plastic packaging. Rigid plastic packaging is also substituting glass and metal in various applications, as plastic is a lighter and more cost effective solution. Governmental and environmental regulations against the use of plastic, as it is non-biodegradable is one of the major factors hampering the market growth. High cost of initial setup is a major challenge, whereas fluctuating demand patterns and advancements of alternative technologies are expected to be the burning issues for the market.
Key players present in the market are Amcor Limited (Australia), Bemis Company, Inc. (U.S.), RPC Group Plc (U.K.), Berry Plastics Corporation (U.S.), Alpla Werke, Alwin Lehner GmbH & Co. Kg (Austria), Reynolds Group Holdings (New Zealand), Silgan Holdings, Inc. (U.S.), and Sealed Air (U.S.) among others. The leading rigid plastic packaging manufacturers are focusing on emerging countries that are estimated to show potential for industrial development in the near future.
- Change in lifestyle and demographic trends offers huge growth potential
- Environmental concern and high input costs