Asia Pacific, driven by India, Japan and China Rigid Packaging Market may grow significantly over the forecast timeframe. Positive outlook towards pharmaceutical and food & beverage industry may drive regional growth. Increasing population along with market penetration in electronics industry may contribute towards regional growth.Rigid Packaging Market size may grow significantly owing to strong application scope in food & beverage, pharmaceutical, durable goods, and electronics industries. Rising packaged, frozen and processed foods consumption may drive product demand. Key properties include high stiffness, high barrier properties, heat resistance and high impact strength.
Food & beverage application occupied a sizable portion of the market size. Shift in consumer preference towards ready-to-eat food with improved shelf life and better quality along with positive outlook towards beverage industry may favor product demand.
Global pharmaceutical packaging industry was valued at over USD 60 billion in 2015 and may exceed USD 95 billion with gains at over 9% by 2024. Investments in research leading to new product developments and innovative manufacturing techniques accompanied with increasing geriatric population may fuel product demand. Increase in self-administered drug therapies promote use of patient – friendly packaging system, ensuring drug efficacy along with accurate dosage and safety should favor market growth demand.
Global cosmetics packaging market generated over 25 billion in 2015 and may surpass USD 35 billion with gains at over 4.5%. Rising per-capita disposable income leading to increase in consumer willingness to spend on well packed products accompanied with consumer inclination towards bio based products may drive rigid packaging market size.
Stringent regulatory norms by FDA, CFSAN and NEPA regarding food and pharmaceuticals packaging promotes use of moisture resistant, high quality materials remaining consistent even after contact with food & drugs may stimulate product demand. Favorable environmental guidelines led by EPA emphasizes on use of antimicrobial technology in the packaging to prevent the growth of microbes in the product thereby surging rigid packaging demand.
Europe, led by UK, France, and Germany market may witness steady growth over the forecast period. Increasing demand for plastic packaging in food, soft drinks and dairy products packaging may drive regional growth.
Global rigid packaging Industry share is highly fragmented. Prominent companies operating in this industry includes Amcor, The Dow Chemical Company, BASF SE, MeadWestvaco Corporation, Holmen AB, Georgia-Pacific LLC, Reynolds Group Holding, Bemis Company.
Other industrial participants include Berry Plastics, Silgan Holding, Consolidated Container Company and Ball Corporation. In July 2015, Bemis Company Inc acquired Emplal Participaceos S.A, South American rigid plastics business which fortified its position in the South American market share.
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