Rigid Plastic Packaging Market Overview
The rigid plastic packaging market was valued at USD 490.34 billion in 2020 and is expected to reach USD 685.84 billion by 2026, at a CAGR of 5.75% over the forecast period 2021 – 2026. According to Plastics Industry Association (PLASTICS)’s Rigid Plastic Packaging Group (RPPG), Plastics account for one-third of the USD 700-billion global packaging industry, and much of this plastic packaging is rigid. The growing demand for rigid plastic packaging from the healthcare industry is also one of the critical factors that will trigger the growth of the market in recent years. Rigid plastic helps enterprises in the healthcare industry to protect medicines from contamination.
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Rigid Plastic Packaging Market – Geographical Overview
The Asia-Pacific region holds the largest market share in the rigid plastic packaging market
The growing applications of rigid plastic packaging in the food, beverage, and healthcare industries enables market growth in the Asia-Pacific region. India, China, and Indonesia drive the Asia-Pacific region to lead the packaging demand from the global beauty and personal care industry. According to a report by PlastIndia Foundation, India has a manufacturing capacity of 4970 Kilo Ton per Annum (KTA) for Polypropylene (PP). According to IBEF, India is progressing in terms of plastic industries with 30000 plastic processing units and about 4 million people are employed in these industries.
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Key Highlights of the Rigid Plastic Packaging Market
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List of Key Players in the Rigid Plastic Packaging Market
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Mordor Intelligence has segmented the global rigid plastic packaging market on the basis of product, material, manufacturing process, end-user industry, and geography:
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