Published By : 16 Mar 2016 | Published By : QYRESEARCH
The global market for rigid packaging materials is enjoying an exponential growth in its market value. The rising demand packaged goods across the world, together with the increasing trend of online shopping, has boosted the demand for rigid packaging materials in the recent times.
Apart from this, the growing need for rigid packaging, fueled by the low cost of plastic packaging and the rising demand for convenience food in emerging nations, has also resulted in the increasing demand for rigid packaging materials significantly. In addition to this, the increasing utilization of rigid packaging in the pharmaceuticals industry is likely to propel the demand for rigid packaging materials in the coming years.
Asia Pacific to Retain Dominance in Global Rigid Packaging Materials Market
Asia Pacific acquired the leading position in the global rigid packaging materials market with a share of 41.2% in 2014, primarily due to the rising demand for rigid packaging in the food and beverages industry.
Additionally, the rapid increase in the population in economies such as China and India, coupled with the escalating gross domestic product (GDP), is likely to contribute towards the growth of the Asia Pacific rigid packaging market and ensure its dominance in the near future.
Rigid Packaging Materials Markets in Europe and North America to Witness Moderate Growth in Future
North America occupied the second position in the global market with a share of 26.2% in 2014. However, the markets for rigid packaging materials in North America and Europe have reached their saturation level, owing to which, both the regional markets are likely to experience moderate rise over the next few years.
Amcor Ltd., Reynolds Group Holdings Ltd., Ball Corp., Berry Plastics Corp., DS Smith Plc, Tetra Pak International, and Crown Holdings Inc. are some of the key producers of rigid packaging materials across the world.