Rigid plastic packaging,
as the name suggests, solely involves the usage of plastic material; it
has a relatively inflexible shape or form. The global rigid plastic
packaging market has exhibited considerable growth during the past few
years, driven by the various beneficial properties of rigid plastic
packaging, such as it is light weight, supple, and durable. Besides,
rigid plastic packaging keeps the goods safe for a long period of time.
Moreover, the changing lifestyle and increased consumer spending on
packaged goods are factors attributed to the expected growth of the
global rigid plastic packaging market over the forecast period.
Due to the rising environment concerns,
there has been a rise in demand for recyclable products, thus paving the
way for the foray of various recycling infrastructures for plastics,
which in turn is propelling growth of the market for rigid plastic
packaging. Rigid plastic packaging is used in various industries such as
food & beverages, pharmaceuticals, and personal care, among others.
The growth witnessed in these industries, in turn, is further
propelling growth of the market for rigid plastic packaging. Overall,
the global rigid plastic packaging market is expected to expand at a
single digit CAGR over the forecast period.
Rigid Plastic Packaging Market: Drivers & Restraints
The rigid plastic packaging market is
driven by the increasing demand from the food and beverages industry,
which is one of the prominent end users of rigid plastic packaging. The
eating habits of consumers globally are changing as the consumers are
increasingly opting for packaged foods, which in turn is further driving
growth of the market for rigid plastic packaging. However, the
non-biodegradable properties of rigid plastic packaging have been
observed to have a serious impact on the environment, which can pose as a
restraint for growth of the rigid plastic packaging market over the
forecast period.
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Hence, some manufacturers are using
natural raw materials over synthetic materials for manufacturing of
rigid plastic packaging types. This trend is expected to help counter
the environmental issues related to rigid plastic packaging. Expansion
of plastic recycling units is another alternative for countering the
environmental restraint. On the other hand, the competition from
flexible plastic packaging may have a negative impact on growth of the
rigid plastic packaging market over the forecast period.