The global rigid plastic packaging industry size was valued at USD 265.21 billion in 2022 and is projected to reach USD 386.68 billion by 2030, exhibiting a CAGR of 4.87% during the forecast period.

The rigid plastic packaging helps to protect products which need special handling. The plastic materials used in rigid packaging are easily recyclable and also help in reducing carbon footprints. The increase in commodities trading and the growing need for the rigid plastic packaging industry is estimated to drive market growth during the forecast period.

Source

https://www.fortunebusinessinsights.com/rigid-plastic-packaging-market-108850

Fortune Business Insights™ mentioned this in a report titled, “Rigid Plastic Packaging Market, 2023-2030.”

COVID-19 Impact

Increased Growth in Food & Beverage Industry During Pandemic Augmented Market Growth

The COVID-19 pandemic had a positive impact on the rigid plastic packaging market growth. The increased growth in the food and beverage industry as the retail stores were open for essential goods during the pandemic augmented growth. The rising demand for vaccines and medicines during COVID-19 pandemic also propelled market growth.

Segments

Bottles & Jars Segment to Grow Due to their Easy Reusability Feature

By product type, the market is classified into bottles & jars, containers, trays & pallets, IBC’s, clamshell, drums, caps & closures, and others. The bottles & jars segment holds the largest rigid plastic packaging market share. The easy reusability and recyclability of bottles & jars aids the segment’s growth.

Report Coverage

The report provides major growth drivers, restraining factors, opportunities, and potential challenges for the market. It offers comprehensive insights into regional developments, a list of major industry players, key strategies adopted by market players, and the latest industry developments, including product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints

Rising Demand and Use of Bioplastic to Augment Market Growth

The growing awareness among people using low-impact and sustainable products has increased the use of bioplastic as a packaging material. Several manufacturers are using bioplastic as an alternative for every conventional plastic material, including biobased PE, PET, bio-PP, and others.