The Latest Rigid Plastic Packaging Industry Statistics Explained
The global rigid plastic packaging market size was valued at USD 186.5 Billion in 2021.
The statistic indicates that the total value of the global rigid plastic packaging market in 2021 was USD 186.5 billion. This figure represents the amount of money generated from sales of rigid plastic packaging products such as bottles, containers, and other packaging materials worldwide throughout the year. The market size value is crucial for understanding the scale and economic significance of the rigid plastic packaging industry, highlighting its substantial contribution to the overall packaging sector. This statistic serves as a key indicator for market analysts, businesses, and policymakers to assess the growth, trends, and future prospects of the global rigid plastic packaging market.
Experts anticipate a compound annual growth rate (CAGR) of 5.60% for the global rigid plastic packaging industry from 2022-2029.
The statistic indicates that industry experts predict the global rigid plastic packaging sector to experience steady growth over the period of 2022-2029, with a compound annual growth rate (CAGR) of 5.60%. This forecast suggests that the industry’s market size, revenue, or production output is expected to increase at a consistent annual rate of 5.60% during the specified time frame. A CAGR provides a smoother representation of growth compared to simple annual growth rates, as it accounts for compounding effects. The projected growth rate indicates a positive outlook for the industry, likely driven by factors such as increasing demand for packaged goods, technological advancements, sustainability initiatives, and evolving consumer preferences.
North America made up around 25% of the global rigid plastic packaging market in 2020.
The statistic ‘North America made up around 25% of the global rigid plastic packaging market in 2020’ indicates that North America accounted for a significant portion, specifically a quarter, of the total market share for rigid plastic packaging on a global scale in the year 2020. This suggests that the region is a key player in the industry, highlighting its importance and impact in the market. Factors such as consumer demand, industrial production, and environmental regulations likely influenced North America’s substantial presence in the rigid plastic packaging market, positioning the region as a major contributor to the industry’s growth and development.
The rigid plastic packaging industry in Europe was valued at 27.08 billion USD in 2021.
The statistic states that the value of the rigid plastic packaging industry in Europe was 27.08 billion USD in the year 2021. This figure represents the total financial worth of all rigid plastic packaging products sold within the European market during that year. The value includes sales of items such as bottles, containers, and other packaging materials made from rigid plastic. This statistic provides insight into the size and importance of the rigid plastic packaging sector within Europe’s overall economy, indicating the level of demand and consumption for these products in the region. Additionally, it serves as a key indicator for industry analysts and stakeholders to assess market trends, competitiveness, and potential areas for growth or innovation within the European packaging industry.
The Asia Pacific market for rigid plastic packaging is expected to be the fastest growing, with India and China anticipated to be the largest contributors.
This statistic highlights the growth prospects within the Asia Pacific market for rigid plastic packaging, with India and China predicted to play significant roles in driving this growth. The term “fastest growing” suggests that this region is expected to experience the most rapid expansion in demand for rigid plastic packaging compared to other regions. This growth could be driven by various factors such as population growth, increasing urbanization, rising disposable incomes, and changing consumer preferences. The anticipated contributions of India and China as the largest contributors underscore the size and importance of these markets within the Asia Pacific region, as well as the potential opportunities for businesses operating in the rigid plastic packaging industry to focus on these key markets for growth and expansion.
Consumer products account for approximately 30% of the rigid plastic packaging demand worldwide.
This statistic indicates that consumer products make up around 30% of the total demand for rigid plastic packaging on a global scale. Rigid plastic packaging refers to containers and packaging materials that are firm, durable, and typically used for protecting and storing various products. The fact that consumer products account for such a significant portion of this demand suggests that there is a substantial reliance on rigid plastic packaging within the consumer goods industry. This statistic has implications for the plastic packaging market as well as for environmental concerns associated with plastic waste generation and disposal. Understanding the breakdown of demand for rigid plastic packaging across different sectors can help inform decision-making processes related to sustainability, recycling efforts, and the development of alternative packaging solutions in the consumer products sector.
The PET segment had the largest market share in the rigid plastic packaging industry with over 35% in 2021.
The statistic indicates that the PET (polyethylene terephthalate) segment held the highest market share within the rigid plastic packaging industry in 2021, accounting for over 35% of the market. This suggests that PET packaging, which is commonly used for products such as beverages, food, and personal care items, was the most prevalent type of rigid plastic packaging in terms of sales and volume during the specified year. The dominance of the PET segment highlights its popularity and widespread adoption within the industry, likely driven by factors such as its versatility, lightweight nature, recyclability, and cost-effectiveness compared to other types of rigid plastic materials.
The pharmaceutical sector is projected to present a promising CAGR of 5.8% for the rigid plastic packaging market from 2021 to 2029.
This statistic indicates that the pharmaceutical sector is expected to experience a Compound Annual Growth Rate (CAGR) of 5.8% in the rigid plastic packaging market between the years 2021 and 2029. A CAGR of 5.8% suggests a steady and moderate growth rate for the pharmaceutical industry’s use of rigid plastic packaging over the specified period. This projection implies that there is a growing demand for rigid plastic packaging within the pharmaceutical sector, likely driven by factors such as increasing healthcare needs, advancements in drug development, and a focus on product safety and durability. It also suggests a potential opportunity for companies operating in the rigid plastic packaging market to capitalize on the pharmaceutical sector’s growth and expand their market presence.
Bioplastics will represent 25% of the total polymers market by 2024, impacting the rigid plastic packaging industry.
The statistic indicates that by 2024, bioplastics are projected to account for a quarter of the total polymers market, suggesting a significant growth in their adoption and utilization across different industries. This rise in bioplastics usage is expected to have a notable impact on the rigid plastic packaging industry, potentially leading to changes in manufacturing processes, product offerings, and consumer preferences within the sector. As bioplastics are considered more environmentally friendly and sustainable compared to traditional plastics, this statistic reflects a shift towards more sustainable practices in industries that rely on polymers, signaling evolving trends and opportunities for innovation in the market.
The demand for rigid plastic packaging in the healthcare market is expected to grow at a 6% CAGR from 2022 to 2029.
This statistic indicates that the demand for rigid plastic packaging within the healthcare market is predicted to experience a Compound Annual Growth Rate (CAGR) of 6% between the years 2022 and 2029. A CAGR of 6% suggests a steady and consistent increase in demand over this time period, reflecting a strong and sustained growth trend. This growth rate may be driven by various factors such as an increasing focus on healthcare services, technological advancements in the healthcare sector, rising demand for secure and cost-effective packaging solutions, and the need for sustainable packaging options. Overall, the projected growth in demand for rigid plastic packaging in the healthcare market signifies opportunities for stakeholders in the industry to capitalize on this growth trend and adapt to the evolving market landscape.
The global rigid plastic packaging market size is expected to reach USD 294.15 billion by 2029.
This statistic suggests that the global market for rigid plastic packaging is anticipated to experience significant growth and expansion over the next several years, with a projected market size of USD 294.15 billion by 2029. This indicates a strong demand for rigid plastic packaging solutions worldwide, likely driven by factors such as increasing urbanization, growing e-commerce activities, and rising consumer preferences for convenience and product protection. The forecasted market size highlights the potential opportunities for companies operating in the rigid plastic packaging industry to capitalize on this anticipated growth by developing innovative and sustainable packaging solutions to meet the evolving needs of various industries and consumers.
Bottles & jars held the largest share of the rigid plastic packaging sector, which reached a market size of over $21 billion in 2021.
The statistic indicates that bottles and jars were the dominant product type within the rigid plastic packaging sector in 2021, with the sector as a whole reaching a market size exceeding $21 billion. This suggests that bottles and jars made up a significant portion of the total revenue generated by rigid plastic packaging products during that year. The market size figure demonstrates the substantial economic value of the rigid plastic packaging sector and underscores the importance of bottles and jars as popular and widely used packaging solutions. This statistic highlights the strong demand for rigid plastic packaging, particularly in the form of bottles and jars, within various industries such as food and beverages, personal care, and household products.
The Latin America rigid plastic packaging market is projected to grow at a CAGR of 5.1% from 2022 to 2029.
This statistic indicates that the Latin America rigid plastic packaging market is expected to experience steady growth at a Compound Annual Growth Rate (CAGR) of 5.1% from 2022 to 2029. CAGR is a measure used to represent the average annual growth rate of an investment over a specified period of time, in this case, the packaging market in Latin America. A CAGR of 5.1% suggests a healthy growth trajectory for the market, reflecting increasing demand for rigid plastic packaging solutions in the region over the forecasted period. This projection can be influenced by factors such as population growth, economic development, changing consumer preferences, and advancements in packaging technology leading to increased adoption of rigid plastic packaging solutions by industries across Latin America.
The global market for rigid transparent plastics will grow at a CAGR of 6.3% in the period from 2022 to 2027.
This statistic indicates that the global market for rigid transparent plastics is projected to experience a Compound Annual Growth Rate (CAGR) of 6.3% over the period from 2022 to 2027. This means that the market value of rigid transparent plastics is expected to increase by an average of 6.3% per year during this time frame. Such growth suggests a positive trend in demand for rigid transparent plastics, likely driven by factors such as technological advancements, increased use in various industries, and growing consumer preferences for transparent and durable materials. This statistic provides valuable insights for businesses operating in the rigid transparent plastics market, guiding them in forecasting sales, production capacity, and strategic decision-making to capitalize on the projected growth opportunities.
Caps & closures made up approximately 15% of the share in the rigid plastic packaging industry in 2021.
This statistic indicates that caps and closures accounted for about 15% of the market share within the rigid plastic packaging industry in the year 2021. This implies that out of all the rigid plastic packaging products produced and sold in the industry during that year, caps and closures made up a significant portion of the market. The percentage value directly reflects the relative dominance or significance of caps and closures within the industry, signaling their importance in the packaging sector. This statistic gives insight into the competitive landscape of the rigid plastic packaging industry and sheds light on the specific product category’s market position and relevance in 2021.
The rigid plastic packaging industry size in MEA was valued at $4.8 billion in 2020.
The statistic “The rigid plastic packaging industry size in MEA was valued at $4.8 billion in 2020” indicates the total market value of rigid plastic packaging products in the Middle East and Africa region during the year 2020. This figure represents the sum of all sales revenue generated from rigid plastic packaging materials such as bottles, containers, and other products in the industry. The $4.8 billion valuation suggests the scale and economic significance of the rigid plastic packaging industry in the MEA region, highlighting its role in the overall economy and its importance as a key sector for manufacturers, suppliers, and consumers in the region.
Sustainability moves are prompting brands to switch to renewable bioplastics, which accounted for 1% of the rigid packaging market in 2021.
The statistic indicates that sustainability initiatives are driving brands to adopt renewable bioplastics as a more environmentally friendly alternative within the rigid packaging market. In 2021, these bioplastics accounted for 1% of the total market share, signaling a growing interest and adoption of these materials. This shift towards renewable bioplastics aligns with the increasing consumer demand for more sustainable products and packaging solutions, as companies aim to reduce their environmental impact and meet sustainability goals. The statistic suggests that the trend towards using renewable bioplastics is gaining traction within the packaging industry as businesses look for ways to make their operations more eco-friendly and address the global issue of plastic pollution.
Conclusion
The statistics presented highlight the significant growth and importance of the rigid plastic packaging industry. With increasing demand for sustainable and convenient packaging solutions, companies in this industry have a promising future ahead. It is crucial for businesses to stay informed and adapt to consumer preferences and industry trends to stay competitive in this dynamic market.
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