As cited by the research report titled ‘Global Rigid Bulk Packaging Market size study by Material (Plastic, Metal, Wood, and Other Products), Type of Packaging (Industrial Bulk Containers, Drums, Boxes, Pails, and Other Products), and by End-user Industry (Food, Beverage, Industrial, Pharmaceutical, and Other End- user Industries), Regional Forecasts 2021-2027’, available with MarketStudyReport, global rigid bulk packaging market is projected to expand at 4.9% CAGR and garner significant returns over 2021-2027.
 

Expanding packaging sector coupled with robust demand from the food & beverage packaging services are majorly driving global rigid bulk packaging market growth. As per the Packaging Industry Association of India (PIAI), India’s packaging industry is expanding at 22% to 25% every year. This can be accredited to growing fast-moving consumer goods (FMCG), food processing, and the pharmaceutical industries.
 

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For the record, rigid plastic is a material that does not flex elastically and has complete plastic deformation. Cups, closures, bottles, pots, and cans are some forms of rigid plastic packaging. The advantage of rigid plastic packaging include cost, durability, lifespan, lightweight, and flavour absorption. It may be used in various industries, including food & beverage, personal care, medicines, and many more.
 

Evolving lifestyle and changing demographic trends are further generating lucrative prospects for the market development. On the downside, fierce competition from flexible plastic packaging and stringent regulations are likely to act as bottlenecks for the market progression over the projected timespan.
 

Based on material type, global rigid bulk packaging industry is segmented into plastic, wood, metal, and other products. Considering the type of packaging, the marketplace is categorized into industrial bulk containers, boxes, drums, pails, and other products. While the end user range includes, food, beverage, pharmaceutical, industrial, and other end- user industries.
 

The geographical analysis of the industry includes regions like Asia Pacific, Europe, North America, Central & South America, and Middle East & Africa. According to seasoned analysts, Asia Pacific is expected to garner notable gains over the estimated timeframe 2021-2027, on account of presence of various emerging economies in the region, along with expanding manufacturing and construction industries.
 

Leading players swaying the worldwide rigid bulk packaging industry trends are Taihua Group, BWAY Corporation, The Cary Company, Cleveland Steel Container Corp., Sonoco Products Company, Schütz GmbH & Co. KGaA, Mondi plc, Nefab Packaging AB, Amcor plc, and Hoover Container Solutions.