Global Rigid Packaging Market 2017-2021
About Rigid Packaging
Packaging is a process of protecting or enclosing finished goods for the purpose of storage, distribution, sale, and end-use. Rigid packaging is done to keep products safe, especially during transportation across long distances. This type of packaging keeps products safe and intact. This packaging has high barrier properties, stiffness, and high impact strength. These properties have contributed to the increase in the demand for rigid packaging globally.
Technavio’s analysts forecast the global rigid packaging market to grow at a CAGR of 5.47% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global rigid packaging market for 2017-2021. To calculate the market size, the report considers new installations, volume, value, and services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Rigid Packaging Market 2017-2021
Technavio recognizes the following companies as the key players in the global rigid packaging market: Amcor, Ball Corporation, Berry, and Crown Holdings.
Other Prominent Vendors in the market are: APPE, Britton Group, Can-Pack, Ardagh Group, AEP Industries, DS Smith, Gerresheimer, Graham Packaging, LINPAC Group, RPC Group, Silgan, Sonoco, Vetropack Holding, and Vidrala.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing number of emerging markets. The second fastest growing region for retail packaging in the foods industry is Latin America, which had rigid packaging consumption of more than 7% in 2016 as compared to around 3% in 2010. Regions are accepting the importance of the demand and use of rigid packaging, and manufacturers are expanding based on the demand.”
According to the report, one driver in the market is increasing demand for rigid plastic packaging. Owing to the growth in the beverages and pharmaceuticals markets there is an increase in the demand for rigid plastic packaging. Rigid plastic packaging for food, consumer, and industrial products is a flourishing business. Rigid plastic packaging is lightweight, strong, shatter resistance, and has secure barrier properties. These are the reasons why rigid plastics packaging is continually increasing its penetration compared with traditional packaging.
Further, the report states that one challenge in the market is increase in demand for flexible packaging. Changes in consumer lifestyles and the increasing demand for convenience products are driving the growth of the global flexible packaging market. It is replacing traditional formats such as metal cans and glass jars. Flexible packaging offers numerous advantages compared with that by rigid packaging such as extended shelf life, lighter weight, improved cost economics, and freight cost savings. End-users are adopting multilayer flexible pack solutions with metallized films.
Amcor, Ball Corporation, Berry, Crown Holdings, and APPE, Britton Group, Can-Pack, Ardagh Group, AEP Industries, DS Smith, Gerresheimer, Graham Packaging, LINPAC Group, RPC Group, Silgan, Sonoco, Vetropack Holding, and Vidrala