
Market Synopsis of Rigid Packaging Market
The rising demand for preserved food items and ready-to-cook meals in the era of changing lifestyles has become the reason for the growth of the packaging market. In the recent years the demand for safe and healthy foods has been driving the market.Therefore, materials like metals, plastics, glass, paperboard, pulp, wood, timber, and paper pallets are expected to be in demand.Food and beverages is the dominant industry in the global rigid packaging market. The demand from the healthcare industry is expectedto drive the global rigid packaging market to a large extent, after food & beverages.
Plastic leads the market by material. It is the most preferred material when it comes to packaging due to its properties such as durability, firmness, and light-weight. On the basis of region, Asia Pacific region accounts for the fastest growing market, followed by North America and Europe. The region has seen an increased consumption of rigid packaging market due to the growing urbanization, especially in the emerging nations like India and China. The global rigid packaging market size was valued at around USD 187 billion in 2015 and is expected to cross USD 275 Billion at CAGR of 6% by 2022.