LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global rigid packaging market is expected to grow at a CAGR of more than 5% during the forecast period.
This research report titled ‘Global Rigid Packaging Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global rigid packaging market is expected to grow due to the rising demand for food-grade rigid packaging from the food and beverages industry followed by pharmaceutical and personal care industries. Another reason for the market growth is the continuous innovation in this sector. Companies are continuously working on creating innovative packaging to not only help end-users increase the shelf life of their products but also to make it aesthetically appealing to attract customers.
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Technavio’s transportation and logistics research analysts categorize the global rigid packaging market into the following segments by material type. They are:
- Rigid plastic
- Metal
- Glass
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Rigid plastic
Raw materials used for manufacturing rigid plastic packaging are polypropylene (PP), polyethylene (PE), PET, polystyrene (PS), polyvinyl chloride (PVC) and bioplastics. The various types of rigid plastic packaging are bottles, cups, tubs, trays, pots, and jars. The global rigid packaging market by the rigid plastic packaging segment contributed 52% of the overall market share in 2016.
According to Sharan Raj, a lead packaging research analyst from Technavio, “Rigid plastic is shatter resistant, convenient, and easy to dispense; and has graphic capabilities, with improved resins and technology. Processes such as injection molding, extrusion molding, and blow molding are used to produce rigid plastic packaging products. The reason for the higher demand for rigid plastic packaging over the metal and glass type is because the plastic ones are non-brittle, tough, durable, and easy to transport.”
Metal
The global rigid packaging market by rigid metal packaging can be segmented on types such as cans, foils, boxes, and tins. Materials used to produce rigid metal packaging are steel and aluminum. End-users of rigid metal packaging are food and beverages, pharmaceuticals, and healthcare industries. This market is also largely driven by the rising consumption of soft drinks.
“Metal packaging is gaining popularity because of rising sale of packaged grocery products, including frozen and chilled food, and changing lifestyle. Metal retains 100% of its properties even after being recycled numerous times. Metals such as aluminum are easy to sterilize for packaging purposes. Its durability and high barrier protection have increased its demand among end-users,” adds Sharan.
Glass
The global rigid packaging market by rigid glass packaging accounted for 16.84% of the global rigid packaging market in 2016. Most of the European breweries are adopting innovative glass packaging for their products, especially for aesthetic appeal that ought to attract consumers. A limited edition of Carlsberg Nordic was launched across thirteen European markets in 2014.
Industries are not only innovating in terms of the design of the bottles but also their weight. Grey Goose bottles are now 13% lighter than their earlier weight. This has made it easy to handle and transport these bottles without impacting the consumer brand experience. To make these bottles sustainable, the company has also developed organic inks for on-bottle decoration and inscription.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Amcor
- Ball
- Berry
- Crown Holdings
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