Rigid plastic packaging: Key market research findings
- Popularity of biodegradable rigid plastic packaging
- Increased adoption of lightweight rigid plastics
Technavio has released a new market research report on the global rigid plastic packaging market, which is expected to grow at a CAGR of 6% between 2016 and 2020. The demand for rigid plastic packaging is fueled by the expansion of centralized retail distribution and improvements in polymer materials. With stringent environmental compliance regulations across the globe, vendors are expected to use biodegradable plastics as substitutes in the coming years. APAC dominates the global rigid plastic packaging market, owing to increased demand for food and beverage products, household care products, and branded products in the region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, several packaging companies are focusing on biodegradable material because of environmental factors and government regulations. Biodegradable plastics are more easily decomposed by micro-organisms than conventional plastics, and hence are less toxic. Plastic packaging vendors are increasingly using materials, such as polyvinyl alcohol, polyanhydrides, and polylactic acid, owing to the stringent environmental compliance regulation worldwide,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research
Lightweight packaging material is increasingly gaining popularity among customers. Growing innovation in light packaging market leads to sustainability and provides eco-friendly packaging products, which are more preferred in the market leading to decrease in packaging costs. For instance, Plastican has launched a lightweight five-gallon rigid plastic container for industrial and consumer markets offering 19% better weight per gallon of storage.
The leading vendors in the global rigid plastic packaging market include Amcor, Alpla Werke, Bemis, Berry Plastics, the RPC Group, and Silgan. This market is competitive because of the presence of many big and small firms in the rigid plastics market. Vendors in the market compete on the basis of product offerings, differentiation, and pricing. Competition in the market is expected to intensify during the forecast period with increase in product extensions, innovations in technology, and more M&A
A more detailed analysis is available in the Technavio report, Global Rigid Plastic Packaging Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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