Rigid Plastic Packaging Market: Historical and Forecasts by Product Type (Bottles, Tubs, Cups, Trays and Others), Polymer Type (Polyethylene Terephthalate (PET), High-Density Polyethylene (HDPE), Polyvinyl Chloride (PVC), Low-Density Polyethylene (LDPE), Polypropylene (PP), Polystyrene (PS) and Others), by Application Type (Food, Beverage, Healthcare, Cosmetics, Personal Care, Industrial Packaging and Others): Global Industry overview, Comprehensive Analysis, Size, Share, Growth, Trends and Forecast, 2018 – 2024. According to the Brandessence Market Research Analyst, Rigid Plastic Packaging market is expected to grow at considerable CAGR during the forecast period 2018-2024.
Introduction to Rigid Plastic Packaging Industry:
Rigid plastic has been among the most widely used packaging materials due to the numerous properties it provides over more traditional rival materials, such as metal and glass. Rigid plastic is a light, malleable, durable material that can adapt to various packaging designs and requirements, and is a most cost-effective choice of packaging. Glass is seven times heavier than the equivalent volume of plastic.
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Market Dynamics for Rigid Plastic Packaging industry:
Increasing demand and awareness for fresh & personal care food and beverages is effectively growing the market. Moreover, the market is driven by technological development and increasing investment in research and development. Global Rigid Plastic Packaging market is also growing with the increasing demand for home care product. Thus, global Rigid Plastic Packaging market is expected to grow at significant growth rate in forecast period. However, non-biodegradable properties of rigid plastic packaging material may hinder the market of Rigid Plastic Packaging. Nonetheless, untapped market and improving health awareness are expected to generate new opportunity in forecast period.
Global Rigid Plastic Packaging Market: Segment Overview
The global Rigid Plastic Packaging market is estimated to register significant CAGR between 2018 and 2024. The report included a detailed competitive scenario and portfolio of leading vendors operating in Rigid Plastic Packaging market all across the world. The report gives detailed segments analysis of Rigid Plastic Packaging market in which the report describes the market into product types, polymer type, application type and regional segments. Based upon product type, Rigid Plastic Packaging market is classified as bottles, tubs, cups, trays and others. On the basis of polymer type, Rigid Plastic Packaging market has been segmented as Polyethylene Terephthalate (PET), High-Density Polyethylene (HDPE), Polyvinyl Chloride (PVC), Low-Density Polyethylene (LDPE), Polypropylene (PP), Polystyrene (PS) and others. Based upon application type, market of Rigid Plastic Packaging is classified as Food, Beverage, Healthcare, Cosmetics, Personal Care, Industrial Packaging and Others. The regions covered in this report are North America, Europe, Asia-Pacific and Rest of the World. North America dominates the market with highest market share due to increased healthcare conditions. Europe is second largest market for Rigid Plastic Packaging and it is expected to generate new opportunity with product innovation and increased investment in research and development. Asia Pacific Rigid Plastic Packaging market is witnessed with strong growth rate due to increased government initiatives for public health awareness.