Rigid Plastic Packaging Market Size, Share & Trends Analysis Report By Material (PET, PE, PP, PVC, PS, Bioplastics), By Production Process (Extrusion, Injection Molding, Thermoforming), By Product, By Application, By Region, And Segment Forecasts, 2024 - 2030

Rigid Plastic Packaging Market Trends

The global rigid plastic packaging market size was estimated at USD 234.09 billion in 2023 and is expected to grow at a CAGR of 3.3% from 2024 to 2030. Rising demand for packaged food due to the growing preference for ready to eat food products and the increased adoption of plastic as a material in rigid packaging products are the factors expected to support growth of this market.

According to USAFacts, the consumption of bottled water is rising among the U.S. population, as consumers shift from less healthy packaged drinks such as soda to bottled water. This is supported by the data provided by the International Bottled Water Association, wherein average bottled water consumption in the U.S. was 46.5 gallons in 2022 which was higher than the average consumption of soda for the same period. Thus, the rising consumption of bottled water is anticipated to present a positive outlook for the growth of the rigid plastic packaging market in the U.S.

According to the United States Department of Agriculture (USDA), demand for convenience foods has grown substantially in the U.S. The consumption of packaged foods and snacks & meals at fast-food restaurants is high in the country due to the changing consumer behavior. In 2020, the COVID-19 pandemic played a crucial role in supporting the online food delivery industry due to the shutdown of restaurants in the U.S. A rise of cloud kitchens due to high profit margins compared to restaurants is further expected to support growth of the packaged food market, thereby creating more demand for rigid plastic packaging products.

Though rigid plastic packaging is growing due to the rising demand from end-use industries, laws introduced across the state level to promote the use of recycled plastics in rigid plastic packaging can create new opportunities. For instance, the Rigid Plastic Packaging Container Program introduced by California State mandates the use of postconsumer plastic material in packaging and plastic material should have a specified recycling rate. Also, Colorado State passed a law prohibiting retail food establishments from distributing their products in polystyrene containers from January 1, 2024.

Market Concentration & Characteristics

Prominent players operating in the rigid plastic packaging market include Berry Global Inc.; Amcor plc; Sonoco Products Company; ALPLA; WINPAK LTD; Nuplas Industries; DS Smith; Genpak; SILGAN PLASTICS; Anchor Packaging LLC; and PLASTIPAK HOLDINGS, INC.

The market is highly fragmented with the presence of a significant number of packaging manufacturers. The companies focus on developing new products catering to the changing regulatory landscape, indicating a high impact level of regulations. For instance, in December 2023, Novolex, a U.S.-based packaging manufacturer launched food packaging containers having 10% post-consumer recycled plastic content. According to the Association of Plastic Recyclers as of 2023, 4 states of the U.S. have passed laws mandating the inclusion of recycled content in plastic packaging. Also, active proposals related to recycled plastic-based packaging are progressing in the European Union and Canada which pushes companies to develop rigid packaging complying with these laws.

The significant presence of companies also influences the level of mergers and acquisitions. Well-established mature players are keen to acquire emerging or small local level companies for greater market presence. For instance, in October 2023, Greif Inc. announced its intent and its ongoing discussions to acquire small plastic containers and jerrycan manufacturer PACKCHEM Group SAS for a transaction valued at USD 538.0 million.

Application Insights

Based on application, the market is segmented intofood, beverages, pharmaceutical & healthcare, personal care & cosmetics, automotive, building & construction, and others. Food dominated the application segment and accounted for the largest revenue share of over 26.0% in 2023. This positive outlook is due to the growing demand for packaged food products and requirement for sturdy packaging products to protect food during transit. A rise in the online food delivery industry is also expected to contribute to high dominance of the food segment.

The pharmaceutical & healthcare segment is expected to progress with a CAGR of 3.8% during the forecast period. This growth can be attributed to the rising use of plastic-based rigid packaging products such as bottles, jars, and trays in packaging sensitive pharmaceutical dosages and medical devices. Excellent barrier properties along with light weight contribute to their high adoption in pharmaceutical & healthcare rigid packaging.

Material Insights

Based on material, the market is segmented into polyethylene terephthalate (PET), polypropylene (PP), polyethylene (PE), polyvinyl chloride (PVC), polystyrene (PS), bioplastics, and others. PET dominated the material segment and accounted for the largest revenue share of over 30.0% in 2023. Properties such as lightweight, recyclability, and durability, along with its excellent transparency make it a popular choice for end-users who require product visible packaging, thereby contributing to its high market share.

The bioplastics segment is expected to progress with a CAGR of 5.5% from 2024 to 2030. This high growth rate can be attributed to the rising concerns related to plastic packaging waste pollution and its environmental impacts. Governments worldwide are imposing stringent regulations such as the ban on single-use plastics, which can push rigid packaging manufacturers from fossil fuel-based plastics to plant-derived bioplastics.

Production Process Insights

Injection molding dominated the production process segment and accounted for a revenue share of more than 35.0% in 2023. Injection molding facilitates the manufacturing of small containers to complex-shaped containers or other rigid packaging products. This makes it suitable for a wider range of applications compared to the blow molding production process. The injection molding production process caters to various plastic materials such as PE and PP to high-performance plastics such as PC and ABS. These factors contribute to its high market share.

The thermoforming production process segment is expected to register a significant CAGR of 4.0 % from 2024 to 2030. Low tooling costs, versatility, and suitability to produce customizable, durable, lightweight packaging products are expected to contribute to the high growth rate of this segment.

Product Insights

Based on product, the market is segmented into trays & clamshells; bottles & jars; tubs, cups, and pots; pallets; drums & barrels; crates; and pallets. Bottles & jars dominated the product segment and accounted for a revenue share of over 50.0% over the forecast period. The demand for bottles & jars is driven by their versatility. In terms of versatility, bottles & jars are available in a variety of sizes and shapes, catering to a vast range of end-use industries such as beverage, cosmetics, pharmaceutical, and industrial. In addition, its high market share is also correlational to the consumption of beverages. High population results in increased beverage consumption, directly influencing demand for bottles & jars.

Plastic pallets and other products are expected to progress with a significant CAGR of 3.8% over the forecast period. This growth can be attributed to an increase in the shift of end-use industries from traditional wooden pallets to plastic pallets due to the rising logistics costs and high price of wooden pallets.

Regional Insights

The rigid plastic packaging market in North America is expected to progress at a moderate pace during the forecast period. While growth is expected, sustainability concerns and changing consumer preferences are driving innovation and adaptation within the industry. For instance, the growing environmental awareness and stringent regulations are pushing manufacturers towards sustainable alternatives like recycled plastics and bioplastics.

U.S. Rigid Plastic Packaging Market Trends

The U.S. Rigid plastic packaging market dominated North America, accounting for a share of over 80.0% in 2023. The high share can be attributed to the growing demand for functional beverages and packaged food products.

The growth of the rigid plastic packaging market in Canada is driven by the rising fruit exports. Canada has free trade agreements with several major markets, which facilitates growth in exports. The USMCA agreement eliminates tariffs for agricultural exports which can promote agricultural produce export and contribute to the market growth.

Asia Pacific Rigid Plastic Packaging Market Trends

Asia Pacific dominated the rigid plastic packaging market with the largest revenue share of 43.0% in 2023. APAC is likely to continue dominating the industry during the forecast period. Asia Pacific boasts major plastic resin manufacturers such as LG Chem; TORAY INDUSTRIES, INC.; Reliance Industries Limited; Mitsui Chemicals, Inc.; Indorama Ventures Public Company Limited; BASF SE; and China Petrochemical Corporation creating astrong raw material supply network, thereby contributing to the market expansion. A rapidly growing population, particularly in countries like China and India is creating a huge consumer base for various products, from food and beverages to personal care items, creating a strong demand for rigid plastic packaging.

The China Rigid Plastic Packaging Market is registered a rise of 2.1% compared to 2021. The rise in automobile sales simultaneously fuels demand for automobile maintenance lubricants and coolants, thereby creating strong growth potential for the market. According to the International Organization of Motor Vehicle Manufacturers, China recorded a steady growth in overall automobile sales compared to North America and Europe in 2022.

The rigid plastic packaging market in Southeast Asia is expected to progress with a CAGR of 3.6% from 2024 to 2030. This is attributed to various factors such as rising urban population and demand for cosmetics. Thailand is a major original equipment manufacturer (OEM) for international cosmetic brands. There are over 762 cosmetics manufacturing plants is Thailand as per the Thai Cosmetic Cluster, indicating a strong growth of the personal care & cosmetics sector. This can simultaneously influence growth of the rigid plastic packaging industry.

Europe Rigid Plastic Packaging Market Trends

According to the European Commission, pharmaceutical sector is a leading contributor to region’s economy. The Pharmaceutical Strategy for Europe adopted in November 2020 aims to boost research and technologies to boost local pharmaceutical sector which presents a positive outlook for the market.

The rigid plastic packaging market in Germany is anticipated to grow on account of the rising organic packaged food market. Germany dominated the Europe market, accounting for a share of over 25.0% in 2023. Rising awareness of organic farming and its associated health benefits is expected to create a strong market forecast for organic products such as organic spread, ready meals, baby food, dairy products, organic baked goods, and confectionary. This is anticipated to bode well for the growth of the Germany market.

Central & South America Rigid Plastic Packaging Market Trends

The rigid plastic packaging market in Latin America is estimated to grow over the forecast period, owing to steady economic growth, leading to rising disposable incomes and consumer spending. This fuels the demand for packaged goods. According to the National Library of Medicine, consumption of carbonated soft drinks has increased significantly, thus contributing to demand of rigid plastic packaging products.

The rigid plastic packaging market in Brazil dominates the Central & South American regional space, accounting for a share of over 25.0% in 2023. Brazil has emerged as an attractive market for personal care and cosmetics production. According toAssociação Brasileira da Indústria de Higiene (Abhipec) international trade of Brazil’s personal care & cosmetic products registered a growth of 30.9% in the first quarter of 2023 compared to the same period in 2022. Skin creams and tanning products recorded the highest sales percentage, thus presenting a positive market forecast for rigid plastic packaging products used for packaging personal care & cosmetic products.

Middle East & Africa Rigid Plastic Packaging Market Trends

Rigid plastic packaging market in Middle East & Africa is growing due to the rising bottled mineral water consumption in this region. The lack of confidence in the quality of water supplied through pipeline and tankers as well as the growing tourism sector is expected to contribute to the growth of the bottled water market and the rigid plastic packaging industry.

The rigid plastic packaging market in Saudi Arabia is expected to grow at a lucrative CAGR over the forecast period, due to the high production of dairy products within the country. Saudi Arabia dominated the regional market and accounted for a share of over 23.0% in 2023. Saudi Arabia is among the leading dairy products exporters in Middle East and the world. According to the National Committee of Dairy Producers in the Federation of Saudi Chambers (FSC), Saudi Arabia’s milk production has reached more than 18 million bottles daily, and overall dairy sector contribution to the Saudi Arabia economy as per data in March 2023 was more than USD 1.86 billion (SAR 7.0 billion). Thus, strong dairy sector growth is expected to create strong demand for rigid plastic packaging products over the forecast period.

South Africa rigid plastic packaging market is expected to progress with a CAGR of 3.2% during the forecast period. According to the Nanyang Technological University, South Africa dominated the African carbonated soft drink market with a sales figure of 1.186 billion eight-ounce units in 2022. The growing consumption of carbonated soft drinks is encouraging the entry of soft drink manufacturers such as Varun Beverages into South Africa, presenting a positive outlook for the regional market.

Key Rigid Plastic Packaging Company Insights

The market is highly fragmented with a significant presence of global as well as local companies offering various types of rigid plastic packaging products. Major players undertake various strategies such as mergers, acquisitions, geographical expansions, new product launches, and joint ventures to strengthen their market presence.

• In January 2024, Sealed Air introduced a new biobased, food-contact grade resin-based over wrap tray. This tray is developed as an alternative to expanded polystyrene (EPS) trays used in packaging of red meat and poultry products.

• In October 2023, Berry Global Inc. introduced large-sized containers 201 and 205 having 35% recycled content. These new containers have received United Nations approval for transportation of hazardous goods.

Rigid Plastic Packaging Market Report Scope

Global Rigid Plastic Packaging Market Report Segmentation

This report forecasts volume & revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each sub-segment from 2018 to 2030. For this study, Grand View Research has segmented rigid plastic packaging market report based on material, production process, product, application, and region:

• Material Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Polyethylene Terephthalate (PET)

  • Polyethylene (PE)

  • Polypropylene (PP)

  • Polystyrene (PS)

  • Polyvinyl Chloride (PVC)

  • Bioplastics

  • Others

• Production Process Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Extrusion

  • Injection Molding

  • Blow Molding

  • Thermoforming

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Bottles & Jars

  • Trays & Clamshells

  • Tubs, Cups, and Pots

  • Pallets

  • Drums & Barrels

  • Crates

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Food

  • Beverages

  • Pharmaceutical & Healthcare

  • Personal Care & Cosmetics

  • Automotive

  • Building & Construction

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • Southeast Asia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • UAE

    • South Africa