Rigid Plastic Packaging Market Size (2024 - 2029)

Rigid Plastic Packaging Market Analysis

The Rigid Plastic Packaging Market size is estimated at USD 253.36 billion in 2024, and is expected to reach USD 284.60 billion by 2029, growing at a CAGR of 2.35% during the forecast period (2024-2029).

According to the Plastics Industry Association's Rigid Plastic Packaging Group (RPPG), Plastics account for one-third of the global packaging industry, and much of this plastic packaging is rigid.

• Packaging made of rigid plastic is durable, affordable, and environmentally friendly. A significant market driver for rigid plastic packaging is the rising need for environmentally friendly and sustainable packaging solutions. Potential growth prospects are being created for manufacturers.
• The convenience packaging industry influences the rigid plastic packaging market since busier lives call for items that can be consumed while on the move and cut down on cooking time. The need for rigid packaging will also be fueled by increased disposable income and expanding packaged goods consumption in emerging nations.
• Augmenting demand for biodegradable rigid plastic packaging is expected to boost the market growth in the future. Also, people's consumption trends shifting towards sustainable packaging solutions for beverages and other household care products positively impact the rigid plastic packaging market. For Instance, Pepsi Black in India is being packaged using rPET packaging materials. Moreover, rapidly increasing urbanization also contributes to market growth. Furthermore, the growing disposable income of the people will positively impact market growth in the coming future.
• The growing demand for rigid plastic packaging from the healthcare industry is also one of the critical factors that has triggered the market's growth in recent years. Rigid plastic helps enterprises in the healthcare industry protect medicines from contamination. The medical product packaging must be compliant with international regulatory standards for safety. Therefore, the properties of rigid plastic, along with its durability, lightweight, cleanliness, and transparency, make it the perfect choice for storing medical products.
• However, high competition for advanced rigid plastic packaging may hinder market growth. Also, increasing the use of BisphenolA (BPA) in manufacturing plastic products poses a significant challenge for the overall rigid plastic packaging market. Raw material volatility is another major stumbling block to the market's expansion. Crude oil is the primary raw material used in plastic-based products, and price fluctuations in crude oil impact the pricing of the finished goods.

Rigid Plastic Packaging Industry Segmentation

Rigid plastic packaging is defined as a packaging type that features heavier and often stronger materials than flexible plastic packaging. A rigid plastic package, which has been known for its strength, offers structure and support to the product. It is applied in a variety of products, offering advantages like resistance to impact, moisture, and different environmental factors.

The Rigid Plastic Packaging Market is segmented by Product (Bottles and Jars, Trays and Containers, Caps and Closures), Material (Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polystyrene (PS) and Expanded Polystyrene (EPS), Polyvinyl Chloride (PVC)), End-user Industry (Food and Beverage, Healthcare, Cosmetics and Personal Care, Industrial, Building and Construction, Automotive) and Geography (North America (United States, Canada), Europe (Germany, United Kingdom, France, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific), Latin America (Brazil, Argentina, Mexico, Rest of Latin America), Middle East and Africa (United Arab Emirates, Saudi Arabia, South Africa, Rest of the Middle East and Africa)). The market sizes and forecasts are provided in terms of value in USD for all the above segments.