Press release
Rigid Food Packaging Market Set to Thrive: Expected to Surpass US$ 317.7 Billion by 2033, Demonstrating a Resilient 4.9% CAGR
Rigid Food Packaging Market
In today's fast-paced world, the Rigid Food Packaging Market plays a pivotal role in preserving the freshness and quality of our food while ensuring convenience for consumers. This comprehensive article delves into the dynamics of this thriving market, exploring its growth, innovations, and the challenges it faces. Join us on this insightful journey into the world of rigid food packaging.
Introduction
The Rigid Food Packaging Market is witnessing unprecedented growth, driven by the ever-increasing demand for packaged food products. This article will provide a deep dive into this market, shedding light on its key aspects, including innovations, sustainability, and the future outlook.
The rigid food packaging market is poised for substantial growth, with an anticipated valuation of US$ 197.5 billion in 2023. Over the next decade, it is projected to surge beyond US$ 317.7 billion by 2033, with a steady compound annual growth rate (CAGR) of 4.9%. By 2033, it's estimated that the top 5 rigid food packaging manufacturers will collectively command a substantial 30% to 35% share of the global market.
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Rigid Food Packaging Market Overview
Rigid Food Packaging Market refers to the packaging of food items in containers that maintain their shape and structure, providing protection and preservation. Let's explore this market in detail.
Evolution of Rigid Food Packaging
The history of rigid food packaging dates back centuries, but modern innovations have transformed it into an industry that caters to diverse consumer needs. From glass and metal containers to the more recent plastic and paperboard options, the evolution continues.
Recent development strategies implemented by leading players in the rigid food packaging industry include:
1. In September 2022, Amcor plc launched a new range of sustainable packaging solutions called 'DairySeal.' It is a line of packaging featuring 'ClearCor.' It also has an advanced PET barrier, especially for application in the ready-to-drink dairy product market.
2. In December 2022, Greif Inc. announced the completion of its acquisition process of Lee Container Corporation Inc., which is a manufacturer of blow-molded containers.
3. In May 2022, Berry Global Inc. announced the launch of a new all-clear plastic cup in partnership with Taco Bell. It is made up of post-consumer recycled plastic.
The Major Key Players Are:
1. Crown Holdings, Inc.
2. Mauser Packaging Solutions
3. Berry Global Inc.
4. Silgan Holdings Inc.
5. Sonoco Products Company
6. Pactiv LLC
7. Printpack
8. ITC Packaging
9. DS Smith
10. WestRock Company
11. Sealed Air Corporation
12. Smurfit Kappa Group plc
13. Huhtamaki Oyj
14. Genpak, LLC
15. Georgia-Pacific LLC
16. Winpak Ltd
17. International Paper Company
18. Fabri-Kal
19. Detmold Group
20. others
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Rigid Food Packaging Market Outlook by Category
By Material:
Plastic
Paper & Paperboard
Metal
Glass
Bagasse
By Packaging Type:
Trays & Clamshell
Bottles & Jars
Cans
Cups & Tubs
Boxes & Cartons
Others (Bowls, Cutlery)
By Application:
Meat, Poultry & Seafood
Dairy Products
Bakery & Confectionary
Ready-to-eat Food
Baby Food
Produce Food
Other Foods (Spices, Sauces)
Find Other Packaging Report Here:
Cold Seal Paper Market: https://www.futuremarketinsights.com/reports/cold-seal-paper-market
Medical Packaging Market: https://www.futuremarketinsights.com/reports/medical-packaging-market
Advanced Packaging Market: https://www.futuremarketinsights.com/reports/advanced-packaging-market
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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