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Rigid Plastic Packaging Market Price to Strike USD 342.8 billion by 2032 Growing at a CAGR of 4.6%

Rigid Plastic Packaging Market: Global Opportunity Analysis and Industry Forecast, 2023-2032

WILMINGTON, DELAWARE, UNITED STATES, July 11, 2024 /EINPresswire.com/ — Rigid plastic packaging refers to containers, bottles, and boxes made from sturdy plastic materials, maintaining their shape and structure without distortion. It offers durability, protection, and versatility in packaging applications across various industries like food, beverage, pharmaceuticals, and cosmetics, ensuring product integrity and shelf appeal.

The rigid plastic packaging market size was valued at $218.6 billion in 2022, and is estimated to reach $342.8 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.

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Top Impacting Factors:

The increasing emphasis on environmental sustainability serves as a key driver for the rigid plastic packaging market. Manufacturers are innovating with recyclable and biodegradable plastics, reducing carbon footprint, and adopting eco-friendly practices. Consumer demand for eco-conscious packaging and government regulations promoting recyclability contribute to the growth of sustainable rigid plastic solutions. Key players are taking initiatives for integrating sustainable practices. For instance, In June 2023, Berry Global, a manufacturer specializing in plastic packaging, has introduced a novel spray-through overcap composed of 50% recycled material.

In July 2023, Amcor Rigid Packaging introduces 100% recycled PET (rPET) bottles for Ron Rubin Winery’s BLUE BIN wine series in 750ml sizes. This eco-friendly packaging minimizes greenhouse gas emissions, offering a shatterproof, lightweight option for consumers on-the-go. The initiative follows a two-year assessment by Ron Rubin to deliver premium, sustainable wines for environmentally conscious customers.

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Driving Demands:
The unparalleled durability and protective capabilities of rigid plastic also drives rigid plastic packaging market growth. The innate strength and resilience of rigid plastics ensure the safe transportation, handling, and storage of goods, mitigating the risks of damage, breakage, or contamination during the supply chain. Furthermore, the lightweight properties of these materials contribute to cost-efficient shipping and logistics, enabling manufacturers to optimize transportation expenses while ensuring the integrity of their products.

Technological advancements present a significant opportunity for the rigid plastic packaging market. Innovations in materials science, such as the development of bio-based plastics or advanced recycling technologies, offer promising solutions to reduce environmental impact. Additionally, the market’s expansion into emerging economies and diverse applications, including electronics and healthcare, provides avenues for growth and innovation.

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Top Players:
Key market players profiled in the report include ALPLA-Werke Alwin Lehner GmbH & Co KG, Amcor Limited, DS Smith Plc, Berry Plastics Corporation, Klöckner Pentaplast, Plastipak Holdings, Inc., Pactiv Evergreen Inc, Sealed Air Corporation, Silgan Holdings, Inc., and Sonoco Products Company.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Allied Market Research
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