Friday, 17 June 2016
Global Rigid Packaging Market Driven by Increasing Demand for Packaged Food
Rigid packaging is a term given to a wide range of packaging materials and products, all unified by the common property of being rigid and unyielding. Plastics are among the most widely used rigid packaging material, along with metal, glass, and paperboard. Rigid packaging helps keep the product safe and fresh, in the case of food, since it blocks off contact with atmospheric contaminants. The global market for rigid packaging is expected to rise from a valuation of US$550 bn in 2014 to US$750 bn by 2021, according to the latest market intelligence from Transparency Market Research.
The major factors determining the growth rate of the global rigid packaging market are:
Increasing Demand for Packaged Foods:
Due to the rampant urbanization observed across the world, the demand for convenience foods has increased massively. Due to the increased shelf life of food stored in rigid packaging, the demand for the same has grown correspondingly. Plastic packaging for frozen food, fresh produce, aerated drinks, juices, etc. is becoming common, especially on ecommerce portals.
Restraints on the Use of Plastics:
A major restraint acting on the global rigid packaging market is the increasing concerns about the environmental impact of plastics. Since plastics are not biodegradable, they cause land and water pollution when dumped and can become a deadly hazard for any animals that happen to consume them. Efforts are underway to develop biodegradable plastics, but at present, the use of plastics is being discouraged in large parts of the world in light of the risk they pose to wildlife, checking the global rigid packaging market.
Browse Press Release:
Asia Pacific to Maintain Dominance:
On the basis of geography, Asia Pacific is currently the largest market for rigid packaging. The rapid urbanization observed in China and India has played a major part in driving the APAC rigid packaging market in recent years. The region is likely to retain its dominance in the global rigid packaging market in the coming years, thanks to the significant unmet needs in Southeast Asian countries.