Rigid Plastic Packaging Market Competitive Landscape by Top Companies to Reach $342.8 bn by 2032

The rigid plastic packaging market size was valued at $218.6 billion in 2022, and is estimated to reach $342.8 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.

Rigid plastic packaging refers to containers, bottles, and boxes made from sturdy plastic materials, maintaining their shape and structure without distortion. It offers durability, protection, and versatility in packaging applications across various industries like food, beverage, pharmaceuticals, and cosmetics, ensuring product integrity and shelf appeal.

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The increasing emphasis on environmental sustainability serves as a key driver for the rigid plastic packaging market. Manufacturers are innovating with recyclable and biodegradable plastics, reducing carbon footprint, and adopting eco-friendly practices.

Consumer demand for eco-conscious packaging and government regulations promoting recyclability contribute to the growth of sustainable rigid plastic solutions. Key players are taking initiatives for integrating sustainable practices. For instance, In June 2023, Berry Global, a manufacturer specializing in plastic packaging, has introduced a novel spray-through overcap composed of 50% recycled material.

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Another significant driver is the need for enhanced product protection and convenience. Rigid plastic packaging offers superior protection against external elements, preserving the quality and freshness of goods. Its versatility enables manufacturers to design packaging with features like tamper-evident seals and resealable closures, catering to consumer preferences for convenience and safety.

Manufacturers can mold and shape plastics into diverse forms, sizes, and designs, facilitating tailored packaging solutions that enhance product visibility, branding, and shelf appeal. With advancements in printing technologies and label design, companies can create visually appealing packaging that captures consumer attention, bolstering sales and brand recognition in competitive markets. Such trends are expected to drive the growth of rigid plastic packaging market.

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Below are some strategies implemented by rigid plastic packaging market key players

In July 2023, DS Smith has officially announced a $36.57 million investment aimed at enhancing and modernizing its trio of packaging facilities situated in Greece. The locations encompass a packaging plant located in Ancient Corinth, Greece, a 'Box Plant' situated in the town of Ierapetra, Crete, and a box storage facility in Thessaloniki, Greece. This substantial investment initiative is scheduled to unfold across the span of the next two years.

In November 2023, Klockner Pentaplast (kp) has reintroduced kp Elite, a pioneering modified atmosphere MAP tray made entirely from 100% recycled PET (rPET), establishing a comprehensive closed-loop packaging system for the industry.

In October 2021, Silgan Holdings has acquired Unicep Packaging, a specialty contract manufacturer and developer, for $237 million. Unicep Packaging is a U.S.-based supplier specializing in rigid packaging.

In September 2023, Pactiv Evergreen, a top North American fresh food and beverage packaging manufacturer, collaborates with ExxonMobil, a pioneer in recycling tech. Together, they'll deliver certified-circular polypropylene (PP) packaging using ExxonMobil's Exxtend tech. This innovative solution meets stringent food contact regulations, benefitting major food brands and service providers.

Top Players:
ALPLA-Werke Alwin Lehner GmbH & Co KG, Amcor Limited, DS Smith Plc, Berry Plastics Corporation, Klöckner Pentaplast, Plastipak Holdings, Inc., Pactiv Evergreen Inc, Sealed Air Corporation, Silgan Holdings, Inc., and Sonoco Products Company.

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