Global Rigid Plastic Packaging Market - Use of Bioplastics to Boost Growth | Technavio

The global rigid plastic packaging market is expected to grow at a CAGR of close to 6% from 2018-2022, according to a new market research report by Technavio.

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Technavio has published a new market research report on the global rigid plastic packaging market 2018-2022 under their transportation and logistics library. (Graphic: Business Wire)

Global rigid plastic packaging market segmentation by type and geography

Technavio’s report on the global rigid plastic packaging market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by type which includes bottles, containers, and caps and closures. As projected in 2017, over 45% of the market share originated from the bottles segment. The changing consumption patterns, rising per capita income and increasing population are driving the demand for plastic bottles.

Based on geography, the global rigid plastic packaging market has been segmented into the Americas, APAC, and EMEA. As of 2017, close to 35% of the market share originated from APAC.

“In APAC, the market share is growing due to innovation and the increase in population. Countries with the highest population and growing GDP such as China, India, Japan, and Australia are contributing to the growth of the rigid plastic packaging market” says senior analyst at Technavio for packaging research.

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Rigid plastic packaging market: competitive landscape

The global rigid plastic packaging market is fragmented with the presence of many large companies such as Amcor, ALPLA Werke, Bemis, Berry Global, RPC, and Silgan Holdings. The competitive environment is expected to intensify over the forecast period owing to the implementation of M&As. Major end-users of the market are distributed across verticals such as food and beverage, pharmaceuticals, homecare, and healthcare.

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Other topics covered in the report:

Market drivers:

• Rising use of bioplastics in rigid plastic
• Increasing demand for plastic containers

Market trends:

• Increasing demand for bio-degradable products
• Innovation and technology in packaging

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