June 24, 2024

The global Rigid Packaging Market is estimated to Propelled by growing adoption in food and beverage industry

Rigid packaging products like bottle, jars, tubes, cans, and containers provide protection and shelf life extension to packaged goods. These packaging are made using materials like glass, metal, and plastics. They are increasingly being used in food and beverage industry for packaging of products like juices, carbonated drinks, sauces, etc owing to their versatile design and rigid structure that prevents damage during transportation.

The global Rigid Packaging Market is estimated to be valued at US$ 474.9 billion in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growing adoption of rigid packaging in food and beverage industry has been propelling the growth of global rigid packaging market. Rigid packaging is highly preferred for packaging of food and beverage products as they act as an effective barrier against moisture, oxygen, microbes and provide tamper evidence. Rigid bottles and containers are extensively used for packaging carbonated soft drinks, juices, sauces, dairy products and alcoholic beverages as they retain product freshness. Rapid globalization, changing lifestyle and rising disposable income in developing countries have boosted the sales of packaged food and beverages, driving the demand for rigid packaging.

SWOT Analysis

Strength: Rigid packaging offers excellent protection for products against any external damage during transportation or storage. It helps in extending product shelf life.

Weakness: Rigid packaging materials like glass and plastic contribute more solid waste and not easily reusable or recyclable. High costs involved in production of rigid packaging.

Opportunity: Increasing demand for sustainable and eco-friendly packaging solutions is creating opportunities for recycled rigid packaging materials. Growing food delivery and takeaway services boosting demand for rigid food packaging.

Threats: Substitution threat from flexible packaging which is more cost effective and lightweight. Stringent environmental regulations regarding usage of plastic packaging poses challenges.

Key Takeaways

The global rigid packaging market is expected to witness high growth. The global Rigid Packaging Market is estimated to be valued at US$ 474.9 billion in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030.

Regional analysis

Asia Pacific region dominates the rigid packaging market and is expected to continue its dominance during the forecast period. Rapid industrialization and economic growth in countries like China and India are driving the rigid packaging demand. Food, beverages and consumer goods industries in Asia Pacific have huge demand for rigid packaging of various products.

Key players

Key players operating in the rigid packaging market are Amcor Ltd, Reynolds Group, Berry Global Group, DS Smith Plc, Mondi Group, Ball Corporation. Amcor Ltd is one of the largest packaging companies globally with strong presence across rigid plastic containers. Reynolds Group offers complete portfolio of rigid packaging products for food and beverage applications.