Rigid Plastic Packaging Market to reach USD 331.4 Billion by 2032, Says Global Market Insights inc.
Rigid Plastic Packaging Industry size is expected to register 4.6% CAGR between 2023 and 2032 propelled by growing food and beverage industry.
Selbyville, Delaware, June 10, 2024 (GLOBE NEWSWIRE) — Rigid Plastic Packaging Market value could reach USD 331.4 billion by 2032, as per a
Asia Pacific to witness a high market value
Asia Pacific rigid plastic packaging market will register a robust CAGR from 2023 to 2032. The region’s growing population, rising disposable income, and rapid urbanization are fueling the demand for packaged goods. With the rise of the middle class, there is a demand for products that are convenient and ready for extensive use, which requires durable plastic packaging solutions. Moreover, the expansion of end-user industries such as the food and beverage industry, healthcare, and personal care further contributes to the market growth. Consequently, Asia Pacific is a major vendor for the market, representing a significant portion of the global demand.
Rigid Plastic Packaging Market Players
Amcor plc, Silgan Holdings Inc., Berry Global Group, Inc., AptarGroup, Inc., Greif, Inc., Sealed Air Corporation, Crown Holdings, Inc., Sonoco Products Company, Huhtamäki Oyj, Bemis Company, Inc., Printpack Inc., Ball Corporation, Plastipak Holdings, Inc., RPC Group Plc, Consolidated Container Company LLC, among others
Companies are intensifying their efforts to meet demand in the rigid plastic packaging industry through targeted strategies. Amcor, Berry Global, and Sealed Air are investing in research and development to develop innovative, sustainable packaging solutions. These efforts focus on reducing environmental impact while maintaining production equity. In addition, strategic partnerships and acquisitions increase market presence and expand supply chains. The alignment with consumer preferences and regulatory requirements drives growth and defines the future of the rigid plastic packaging market.
In January 2024, Mold-Tech Packaging Ltd, a leading manufacturer of rigid plastic packaging, invested Rs 120 crore to expand capacity to 5,500 metric tonnes per annum (MTA). The expansion aimed to manufacture an injection mold for the paint, food, FMCG, and pharmaceutical industries.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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