Rigid plastic packaging is gaining traction in fast-moving consumer goods and pharmaceutical

Plastic packaging is highly versatile and is used for a number of purposes. There are various applications, which are used for the packaging of plastic products. Some of the common uses of plastic packaging are the packaging of drugs and other pharmaceuticals, the packaging of food products, the packaging of electronic items, and many more. Plastic packaging is also commonly used for the packaging of wine and spirits. Food packaging is another application of plastic packaging that requires the use of rigid plastic products. This is mainly because these products are delicate and require high-quality packaging products to maintain them.

Growing demand for industrial bulk packaging across various industries is expected to drive the market growth of rigid packaging. Growth in the cosmetic and personal care industry is again contributing to the market growth of rigid plastic packaging. The expansion of the e-commerce industry coupled with the advancement in the packaging industry is further anticipated to foster market growth. Increasing demand for eco-friendly rigid packaging solutions is also projected to supplement the market growth of rigid packaging. For instance, in May 2019, Stora Enso has introduced DuraSense™ by Stora Enso – wood-based bio composites for premium cosmetics, food, and luxury brands seeking alternatives to plastic packaging for eco-friendly packaging.

On the other hand, the fluctuating price of raw materials used in the manufacturing of rigid plastic packaging is projected to restrict the market growth over the forecast period. 

The Asia Pacific is expected to gain significant growth over the forecast period and this is attributed to the expanding e-commerce industry in the region. According to the India Brand Equity Foundation, the Indian E-commerce market is expected to grow to US$ 200 billion by 2026 from US$ 38.5 billion as of 2017. Much of the growth for the industry has been triggered by a rise in internet and smartphone penetration. The ongoing digital transformation in the country is projected to increase India’s total internet user base to 829 million by 2021 from 636.73 million in 2019.


 

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