According to the research report titled ‘Global Rigid plastic packaging Market Size study, by Type (Bottles & Jars, Rigid bulk products, Rays, Tubs, cups and pots and Others), by Raw material (Bioplastics, Polyethylene (PE), Polyethylene Terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), Others), by Application (Food & beverages, Healthcare, cosmetics & toiletries, Industrial and others ), and Regional Forecasts 2021-2027’, available with Market Study Report, global rigid plastic packaging market size was remunerated USD 190.33 billion in 2020 and is expected to multiply at a CAGR of 4.7% over 2021-2027, subsequently reaching USD 262.50 billion by the end of the forecast period.
 

Surging demand from food & beverage packaging sector to store food as required, and improving recycling rate of packaging are primarily driving global rigid plastic packaging market growth. Moreover, changing lifestyle of people and their take on usage of rigid plastic will also enhance the overall market outlook.
 

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The US Environmental Protection Agency cited that recycled packaging and containers accounted for 53.9% (44,330 tons) of total 82,220 tons of plastic generation in 2018, compared to 81,200 tons generation in 2017 with 40,140 tons of plastics and containers recovered.
 

Thus, increased plastics and container recycling rate will not only promote rigid plastic packaging, but will also improve environment sustainability, which will act as a catalyst for the overall market development in the upcoming years.
 

For the unaware, rigid plastic is plastic packing that makes use of plastic materials for the purpose of packaging. It is mainly used in industries like healthcare, food & beverages, personal care, and other end use verticals.
 

Despite the positive outlook, strict legal and political regulations are anticipated to hinder worldwide rigid plastic packaging industry expansion over the study period.
 

Based on geographical ambit, Asia Pacific industry is projected to accrue notable returns by 2027, largely attributable to rapid economic expansion and increasing developmental activities in economies such as China and India. In addition, rising disposable income of customers along with growing consumption of FMCG products are also contributing to the regional market outlook.
 

Key contenders in global rigid plastic packaging market sphere are Takween Advanced industries Co., Al Jabri Plastic Factory, Saudi Basic Industries Corporation (SABIC), ALPLA-Werke Alwin Lehner GmbH & Co. KG, DS Smith plc, Sonoco Products Company, Silgan Holdings Inc., Pactiv LLC, Berry Global Inc., and Amcor plc.