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DUBLIN , June 30, 2022 /PRNewswire/ -- The "Global Rigid Plastic Packaging Market, By Product Type, Raw Material, Application & By Region - Forecast and Analysis 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global rigid plastic packaging market was valued at USD 145.63 Billion in 2021, and it is expected to reach a value of USD 216.12 Billion by 2027, at a CAGR of more than 6.80% over the forecast period (2022-2027).
The global rigid plastic packaging market is driven by factors such as strong demand in major Asia-Pacific markets such as India and China and increasing demand from food & beverage packaging industries. The rapid expansion of the food and beverage industry stimulates demand for bottles, jars, fruit juice containers, food package containers, and snack bags, which in turn fuels the growth of the rigid plastic packaging market. The advancements in terms of product innovations and technologies in the market are also expected to create strong investment opportunities for global players.
Regulatory and structural guidelines are expected to be the strongest restraints for the industry. High input costs and environmental concerns are the major challenges, whereas fluctuating demand patterns and advancements of alternative technologies are expected to be the burning issues. An increase in the number of working women and the dominance of nuclear and double-income families, especially in urban areas, are the trends that shape the lifestyles of a majority of consumers in emerging economies. Busier lifestyles demand on-the-go products that reduce the time spent on cooking, which contributes to the development of the convenience packaging market, which, in turn, impacts the rigid plastic packaging market. Moreover, rising disposable income and increasing consumption of packed goods will also fuel the demand for rigid packaging in emerging markets. The market for rigid plastic packaging is therefore projected to have higher growth potential in the markets of China , Brazil , India , and the Middle East , among others. The report provides market sizing and forecast across five major regions, namely, North America , Europe , Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA). In this report, the year 2016 to 2020 is considered a historical year, 2021 is the base year, 2022 is the estimated year, and years from 2022 to 2027 are considered the forecast period. Aspects covered in this report
Key Topics Covered: Executive Summary Market overview
Global Rigid Plastic Packaging Market by Product type
Global Rigid Plastic Packaging Market by Raw Material
Global Rigid Plastic Packaging Market by Production Process
Global Rigid Plastic Packaging Market by Application
For more information about this report visit https://www.researchandmarkets.com/r/bjy4yk
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