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Upsurge in Demand for Packaged Food to take the Rigid Packaging Containers Market to US$ 308.7 Bn by the year 2032 | Future Market Insights, Inc.

The demand for rigid packaging containers is estimated to bolster with the top 5 companies estimated to hold approximately 15-20% of the global rigid packaging containers market by the end of 2022. The U.S. rigid packaging containers market is projected to hold around 81% of the North American rigid food containers market by the end of 2032

/EIN News/ -- NEWARK, Del, Oct. 05, 2022 (GLOBE NEWSWIRE) -- The global rigid packaging containers market is bound to reach US$ 308.7 Bn by the year 2032. It stands at US$ 208.6 Bn as of now. The CAGR it would witness between 2022 and 2032 – 4%.

Metals like steel & aluminum, plastic grades like PET (polyethylene terephthalate) & PE (polyethylene), and paperboard and glass are basically used for packing. The developing economies like Brazil, India, and South Africa are witnessing sturdy growth of the manufacturing sector. Rigid packaging containers do find their applications in various verticals like food & beverages, pharmaceuticals, personal care, electronics, and likewise.

It is a known fact that market for packaged food has grown manifold in the last few years. Fast lifestyles are the major reason behind this splurge. The consumption of snacks like bread, sausages, potato chips in the upcoming economies like Middle East and India has skyrocketed in the past few years.

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Also, sustainable packaging, better known as green packaging, is the talk of the market. Stern regulations are being imposed with regards to recycling of the packaging containers are calling for eco-friendly and renewable materials. Bioplastics are being used for making rigid packaging containers, which would, in turn, catalyse the bioplastics market in the near future.

These days, paper is also used for making rigid packaging containers. The major advantage is that of recycling. Cost-effectiveness could also be added to it. Paper & paperboard are expected to contribute for close to 70% of the overall market share.

Another material looked upon as “sustainable” in rigid packaging containers market is “glass”. It is 100% recyclable. The personal care sector is more into usage of glass for making rigid packaging containers. The pharmaceutical and beverage verticals are also increasingly using glass for rigid packaging containers.

The consumers are also more into online shopping, which has increased the demand for rigid packaging containers, especially due to safe long-distance transportation. Future Market Insights has walked through these nitty-gritties with future perspectives in its latest market study entitled “Rigid Packaging Containers market”.

Key Takeaways from the Rigid Packaging Containers Market

  • Plastic holds 45% of the overall market share due to excessive demand for lightweight packaging containers, where light PET plastics are used.
  • China is expected to lead the market for the Asia-Pacific by virtue of it being the biggest manufacturer of chemicals across the globe.
  • Paper & paperboard are expected to take over plastics in the rigid packaging containers market in the near future due to eco-friendliness.

“Rigid packaging containers are the one-stop solution regarding packaging delicate, highly reactive, and volatile types of products. The materials used as of now include cardboard, metals, wood, glass, plastic, and likewise”, says an analyst from Future Market Insights.

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Competitive Arena

  • Berry Global Group, in August 2022, did announce launching a food pack produced by making use of recycled PET content that does aid in addressing consumers’ demand for sustainable products.
  • Amcor plc, in April 2022, did announce an investment for establishing new-fangled thermoforming capabilities for the medical packaging at healthcare packaging facility based in Sligo (Ireland).
  • Smurfit Kappa Group, in January 2022, did expand the capacity by putting in US$ 33 Mn in its plant based out of Brazil for installing a novel corrugator, which did help company extend the capacity for pharmaceutical packaging solution, home appliances, and fresh fruits.
  • Mauser Packaging Solutions, in April 2021, did announce completing acquisition of company called “Global Tank srl”, so as to expand the presence in Europe.
  • PlastiPak, in February 2020, did announce making noteworthy investment in new lightweight finish technology for various carbonated beverage bottles.
  • Sonoco, in January 2020, did acquire Plastique Holdings, Ltd., and Thermoform Engineered Quality, LLC. It is known as “Sonoco TEQ” since then.
  • ALPLA Group, in September 2020, started building plant in Mexico to recycle HDPE. It has planned to manufacture 15K tons of the post-consumer recycled material every year.
  • Amcor, in November 2020, did adapt the leading-edge design and engineering technology for developing the lightest 900-ml PET bottle for filling edible oil in Brazil. This customized container for food- and agribusiness-oriented manufacturer “Bunge” is 22% lighter as compared to competitive bottles with increasing sustainability.

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What does the Report Cover?

  • Future Market Insights offers an exclusive perspective and various real-time insights on the rigid packing containers market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
  • The research study is based on material (plastic, metal, glass, and paper & paperboard), by product type (bottles & jars, cans, jerry cans, drums, boxes & cartons, IBCs, and likewise (kegs, clamshells, etc.)), and by end-use (food & beverages, pharmaceuticals, cosmetics & personal care, homecare, automotive, chemicals, and likewise).

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

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Explore FMI’s related ongoing Coverage on Packaging Domain

Rigid Industrial Packaging Market Size: Rigid industrial packaging market is estimated at US$ 31.1 Bn in 2022 and is projected to reach US$ 42.5 Bn by 2029, at a CAGR of 4.6% from 2022 to 2029.

Intermediate Bulk Container (IBC) Market Share: Intermediate bulk container market to reach US$ 21 Bn in 2021. Sales registered in the market is expected to rise at 6.8% CAGR between 2021 and 2031.

Rigid Food Containers Market Trends: Rigid food containers market size is set to reach a valuation of US$ 195.7 Bn in 2022, and register a CAGR of 4.8% from 2022 to 2032.

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FMCG Packaging Market Demand: FMCG packaging market is expected to reach US$ 418.8 Bn in 2022, with sales growing at a CAGR of 5.7% through 2032.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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