The reliance on various types of plastic packaging is expected to inspire the rigid plastic packaging market 2020. The packaging and transport industry reports are created by Market Research Future, which centers on market choices for expansion. A 5.6 % CAGR is likely to be detected in the market in the upcoming period.
The demand for rigid plastic packaging is influenced by the burgeoning demand for food and beverage around the world. The ease of procuring the raw materials is expected to motivate the rigid plastic packaging market in the impending period. The upsurge in the e-commerce sector globally is expected to guide the progress of the rigid plastic packaging market in the future.
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Segmental Analysis
The global market for Rigid plastic packaging was segmented based on content, application, and area.
The market is segmented based on content, including Bio plastics, Polyethylene Terephthalate (PET), Polyethylene (PE), Polyvinyl Chloride (PVC) and others. Polyethylene dominates the market's consumer category, and is expected to be the fastest growing type of products.
The market is segmented as Extrusion, Injection Molding, and others based upon the manufacturing process. Market segment is dominated by injection molding processes. The most widely used manufacturing method for the manufacture of plastic parts is injection molding. It is used mainly because of factors such as faster manufacturing process and low waste volume. Extrusion is another significant fabrication method as well.
The industry was segmented upon application as Food & Beverages, Healthcare, Personal Care, Industrial Packaging and Others. The application segment of the market is dominated by food & beverages and is projected to be the fastest growing application segment. Growing population coupled with rising food and beverage demand, drives market growth.
On the basis of product, the market has been segmented as tubs, trays, bottles & jars, cups and others. Material divisions are dominated by bottles & cans. Many items are packaged with bottles, such as juices, beer, carbonated soft drinks, food products and others. The demand for bottles and jars is driven by factors such as expanding global population, growing urbanization and increased demand for beverages and household care products.
Detailed Regional Analysis
The regional assessment of the rigid plastic packaging market includes regions such as Europe, North America, Asia Pacific, and the rest of the regions. The Asia Pacific region is directing the progress of the rigid plastic packaging market, tailed by the North American regional market. It is projected to be the fastest increasing region for the rigid plastic packaging market. The mounting urbanization and industrialization in developing nations such as India and China is providing a lift to the regional market. The spike in beverage consumption is fueling the development of the rigid plastic packaging market. The regions of Latin America and the Middle East & African regions are also likely to observe an escalated development in the forecast period owing to increasing demand from the e-commerce and manufacturing sector. The European region is also estimated to back considerably for the duration of the forecast period.
Competitive Analysis
The market is observed to be on a hot streak of expansion in the forecast period. The market players are expected to contribute in a significant way to the progress of the market by investing capital and fortifying their assets and competencies in the market to match the pulse of the market. The customer inclinations are projected to define the growth of the global market more than ever in the coming years. The intensive attention focused on research and development activities are projected to open up new areas for development of the market in the forecast period. The robust marketing activities undertaken by the contenders in the market are inspiring the next steps for market development in the forecast period. The improved backing by government and trade bodies are creating a favorable pace of growth in the market. The control of overhead costs is projected to motivate the market in the forecast period.
The well-known companies in the in the rigid plastic packaging market are Bemis Company, Inc. (U.S.), RPC Group Plc (U.K.), Reynolds Group Holdings (New Zealand), Amcor Limited (Australia), Sealed Air Corporation (U.S.), .), Linpac Packaging Limited (U.K.), Berry Plastics Corporation (U.S.), Silgan Holdings, Inc. (U.S.), Coveris Holdings S.A. (Luxembourg), Plastipak Holdings, Inc. (U.Sand Consolidated Container Company (U.S.).
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