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Rigid industrial packaging is a type of packaging is a protective type of packaging that is used to protect wide range of temperature and moisture sensitive products. It is mostly used to pack food products like juices, jams, jellies, and others. One of the important applications of rigid industrial packaging products is Intermediate bulk containers which is used for storage and handling of materials. These containers are safe and cost-effective packaging alternative.
The increasing demand from various sectors food and beverages and personal care for rigid industrial packaging attributed to the high demand for packaged food products, shall drive the industry growth. Additionally, the hectic lifestyle is leading consumers to go for easier options like convenient foods which is likely to boost the market growth. Additionally, the increasing awareness about hygiene and self-care is boosting the demand for personal care products further fostering the demand for rigid packaging.
However, the increasing concern about disposal of plastic is expected to hamper the market growth. Usage of bioplastic shall prove to be an opportunity for the market growth.
Key Market Driver -
Increasing demand from food and beverages industry.
Key Market Restraint -
Rising concerns about plastic disposal.
Based on material, the market is segmented into plastic, metal, paper & paperboard, glass, and bioplastic. Based on application, the market is segmented into food & beverages, pharmaceuticals, personal care, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global rigid industrial packaging market share is competitive and consists of global & regional players operating. Some of the key players in the market include Amcor Limited, Berry Plastics Corporation, Georgia-Pacific Corporation, Plastipak Holdings Inc., Tetra Pak International, Bemis Company Inc., DS Smith Plc, Holmen AB, Reynolds Group Holding, and Others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific holds the largest share in the market attributed to the high number of food and beverage manufacturing and personal care industries. Additionally, the economic development in Asian countries like China and India is driving the regional market. North America is expected to show significant growth attributed to the high demand from various end-user industries for packaging. Europe is estimated to show considerable growth due to the demand from personal care industries. Latin America and Middle East and Africa are expected to show considerable growth by the end of the forecast period.
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