London, 02 January 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Global Rigid Plastic Packaging Market 2015-2019, which is expected to grow at a CAGR of 4.72 percent during the forecast period of 2014-2019.
The main customers of rigid plastic packaging are distributed across various verticals such as the F&B, pharmaceuticals and healthcare, consumer packaged goods, and other sectors. These customers benefit from plastic products because of their non-reactive nature and ease of transportation. Moreover, these packaging products are used to package many products, such as baby food, bakery, confectionery, frozen foods, personal care products, and medical devices. The growth of the market is attributed to the supply of convenient plastic packaging solutions by the companies to customers across all consumables verticals.
“Corporations are investing large amounts of revenues in R&D to come up with new innovations in packaging,” says Faisal Ghaus, Vice President of TechNavio.
“Modern microprocessor-based controllers and intelligent control systems are used to make hi-tech plastic, which is resistant to extreme conditions of temperature and pressure.”
Key Market Drivers
- Benefits of Rigid Plastics over Other Materials
- Growing Demand from F&B Sector
- Increased Purchasing Power of People in Emerging Markets
Key Market Trends
- Popularity of Biodegradable Rigid Plastic Packaging
- Technological Upheaval in Product Quality
- Increased Adoption of Lightweight Rigid Plastics
- Increase in Demand from APAC Region
Key Market Vendors
- Amcor Ltd.
- Berry Plastics Corp.
- Pactiv Corp.
- Sonoco Products Co.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
