LONDON--(BUSINESS WIRE)--The rigid packaging market is likely to experience steady growth because of the growing demand for glass packaging and increasing demand for rigid plastic packaging. Rising at a CAGR of over 5%, the market is estimated to have an incremental growth of USD 107.14 billion by 2024. Download Free Sample Report
A Technavio analyst says, "The extension of containment efforts caused by the spread of COVID-19 have resulted in increased demand and reduced production. This is leading to elevated prices, thereby resulting in an improved topline growth of market players"
Technavio’s recent analysis of the rigid packaging market, includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities. The study segments the markets in APAC, Europe, North America, South America, and MEA, geographically. The APAC region is expected to have a market share of 39%. This growth can be attributed to an increased demand for biodegradable rigid plastic packaging.
For further information on this analysis, please visit: https://www.technavio.com/report/rigid-packaging-market-industry-analysis
An increase in demand for flexible packaging and the growing constraints in production capacity expansion might hamper market growth. However, rising technological innovations will positively influence the growth of the global rigid packaging market.
Technavio’s analysis of the rigid packaging market also includes:
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive the rigid packaging market growth during the next five years
- Precise estimation of the rigid packaging market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the rigid packaging market industry across APAC, Europe, North America, South America, and MEA
- A thorough analysis of the market’s competitive landscape
- Comprehensive details of factors that will challenge the growth of rigid packaging market vendors
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