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Rigid Plastic Packaging Market to Garner $340.43 Bn, Globally, by 2026 at 5.6% CAGR, Says Allied Market Research

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Allied Market Research

28 Jan, 2020, 14:10 GMT

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Rise in the global consumption of consumer goods, improving packaging recycling rates across the globe, and low cost of rigid plastics drive the growth of the global rigid plastic packaging market.

PORTLAND, Oregon, Jan. 28, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Rigid Plastic Packaging Market by Material (Polyethylene Terephthalate (PET), Polypropylene (PP), High-Density Polyethylene (HDPE), and Others) and End-User Industry (Food & Beverages, Personal Care, Household, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global rigid plastic packaging industry accounted for $216.85 billion in 2018 and is projected to reach $340.43 billion by 2026, registering a CAGR of 5.6% from 2019 to 2026.

Prime determinants for growing market

Rise in the global consumption of consumer goods, improving packaging recycling rates across the globe, and low cost of rigid plastic have boosted the growth of the global rigid plastics packaging market. However, increasing end user shift toward flexible packages and uncertain raw material prices hamper the market growth. On the contrary, rise in global e-commerce sales is expected to create lucrative opportunities in the near future.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/2241

The PET segment held the largest share

The PET segment dominated the largest share in 2018, accounted for nearly three-fourths of the global rigid plastic packaging market, as they are easy to re-melt and can be transformed into new materials. However, the PP segment is expected to manifest the fastest CAGR of 6.1% during the forecast period, owing to increase in demand from the home & personal care goods, fresh food & beverages, and retail industries, along with the growth of the pharmaceutical industry.

The healthcare segment to portray the fastest growth through 2026

The healthcare segment is estimated to register the fastest CAGR of 7.4% during the forecast period. This is due to new development of healthcare products, increasing demand for blister packaging, growth in anti-counterfeiting, sophisticated packaging, online printing technology, and investments in R&D across different areas. However, the food and beverage segment held the largest share in 2018, accounting for more than half of the global rigid plastic packaging market, owing to increase in use of rigid plastic packaged food and rise in demand for ready-prepared foods.

Enquire For Discount@ https://www.alliedmarketresearch.com/purchase-enquiry/2241

Asia-Pacific dominated the market, followed by Europe and North America

The global rigid plastic packaging market across Asia-Pacific held the largest share in 2018, contributing to more than one-third of the market, owing to the presence of growing e-commerce sector in the region and high adoption of rigid plastic packaging in the food & beverage industry. Moreover, the region is anticipated to manifest the fastest CAGR of 6.4% during the forecast period. The market across North America is projected to register a CAGR of 5.1% during the forecast period.

Major market players

  • ALPLA-Werke Alwin Lehner GmbH & Co KG
  • DS Smith Plc
  • Amcor Limited
  • Klöckner Pentaplast
  • Berry Plastics Corporation
  • Reynolds Group Holdings
  • Plastipak Holdings, Inc.
  • Silgan Holdings, Inc.
  • RPC Group Plc
  • Sonoco Products Company

Access AVENUE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/Avenue-Membership-details

Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Similar Reports:

Rigid Packaging Market Expected to Reach $729.14 Billion, Globally by 2023

Packaging Machinery Market Expected to Reach $62,063 Million, Globally by 2023

Packaging Robots Market Is Expected to Reach $4,649 Million, Globally, by 2023

Packaging Automation Solutions Market Expected to Reach $58,010 Million by 2023

Airless Packaging Market Expected to Reach $5,938.0 Million, Globally, by 2023

About us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client's insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
1-800-792-5285, 1-503-894-6022, 1-503-446-1141
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Fax: +1-855-550-5975
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Web: www.alliedmarketresearch.com 
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