North America Rigid Packaging Market Segment Analysis By Type
The North America Rigid Packaging Market based on type can be further segmented into Rigid Plastics, Metals, Glass, Paper, and Others. The Rigid Plastics Segment held the largest market share in 2021. This growth is owing to the extensive application of polyethylene terephthalate (PET) bottles across different industries like food and beverage and pharmaceuticals. Thermoforming has its benefits which support the rigid thermoform plastic packaging sector. The soaring application of polystyrene in packaging which has been endorsed by the U.S Food And Drug Administration (FDA) and which can help minimize foodborne sickness in homes is further propelling the growth of this segment.
Furthermore, the Paper segment is estimated to grow with the fastest CAGR of 3.3% during the forecast period 2022-2027 owing to the paper being extracted from organic sources and being extremely environment-friendly like expanded polystyrene (EPS) which is also environmentally friendly.
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North America Rigid Packaging Market Segment Analysis By Application
The North America Rigid Packaging Market based on the application can be further segmented into Food And Beverage, Pharmaceuticals, Personal Care and Others. The Food And Beverage held the largest market share in 2021. This growth is owing to the soaring demand for food services and the surging retail food business. Rigid packaging in the food and beverage industry offers longer shelf life. The soaring application of polyethylene terephthalate (PET) bottles owing to their gas barrier enhancement is further propelling the growth of the Food And Beverage segment.
Furthermore, the Pharmaceuticals segment is estimated to grow with the fastest CAGR of 3.4% during the forecast period 2022-2027 owing to the extensive application of polyethylene terephthalate (PET) bottles which need to be non-toxic, non-carcinogenic, and biocompatible, and in no way damaging to the environment.
North America Rigid Packaging Market Segment Analysis By Country
The North America Rigid Packaging Market based on the country can be further segmented into U.S., Canada, and Mexico. U.S. (North America Rigid Packaging Market) held the largest share with 74% of the overall market in 2021. The growth of this region is owing to the soaring innovations in the rigid thermoform plastic packaging sector. Thermoforming has many advantages like reduced cost and versatility. The huge growth in the manufacturing of products building a massive customer base in the rigid thermoform plastic packaging sector is further propelling the growth of the North America Rigid Packaging Market in the American region.
Furthermore, the Canadian region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like the proliferating application of rigid plastic containers in the Canadian region. The heightening application of polyethylene terephthalate (PET) bottles is further fuelling the progress of the North America Rigid Packaging Market in the Canadian region.
North America Rigid Packaging Market Drivers
Soaring Applications Of Polystrene Are Projected To Drive The Growth Of North America Rigid Packaging Market:
The rigid and hard type of polystyrene is utilized in the manufacture of television and computer housings. Additional IT equipment also utilizes polystyrene owing to its ability to provide the correct type of finish and shape. Polystyrene is widely utilized in the packaging of food products. It supports maintaining the cleanliness and freshness of food. It does not cost much to utilize polystyrene and being transparent, it is amazing in terms of appearance which is so crucial in retail. General Purpose Polystyrene (GPPS) and High Impact Polystyrene (HIPS) are both accessible for application in injection molding. The soaring applications of polystyrene are therefore fuelling the growth of the North America Rigid Packaging Market during the forecast period 2022-2027.
Benefits of Thermoforming Are Expected To Boost The Demand Of North America Rigid Packaging:
Thermoforming is a plastic forming procedure utilized to build a wide assortment of consumer goods by softening a plastic sheet over a mold and permitting it to cool. With suitable machinery, thermoforming can generate thousands of plastic parts per hour, turning it into a perfect forming technique for the high-volume manufacture of plastic parts. The thin plastic sheet utilized to manufacture thin-gauge plastic parts is termed thermoforming film. The benefits of thermoforming include reduced cost, versatility, fast turnaround, and minimum waste. Thin-gauge thermoforming is utilized to develop plastic packaging for products across retail, medical, food and beverage, and additional industries. These advantages of thermoforming are driving the growth of the North America Rigid Packaging Market during the forecast period 2022-2027.
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North America Rigid Packaging Market Challenges
Flexible Packaging Is Challenging The Growth Of The North America Rigid Packaging Market:
One technique to satisfy the requirements of consumers is to replace rigid packaging with flexible packaging. Flexible packaging incorporates lightweight packaging, specifically in the bottled water industry. Currently, polyethylene terephthalate (PET) bottles have acquired recognition owing to their sustainability, However, they are not as light as required by the consumer. The development of lightweight and flexible pouches to replace bottles has thus acquired significance and recognition. With rigid packaging, the costs associated with marketing the product and printing are greater than with flexible packaging. With flexible printing, the printing options are not only limitless but are also effortlessly altered, if required. These issues are hampering the growth of the North America Rigid Packaging Market.
North America Rigid Packaging Market Landscape:
Financing in research and development, novel market initiatives, enhancing production sites and facilities, novel product launches, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve are key strategies adopted by players in the North America Rigid Packaging Market. Key companies of this market are:
COEXPAN
Fabri-Kal
D&W Fine Pack
EasyPak
Placon
Huhtamaki North America
Genpak, LLC
Amcor plc
Pactiv LLC
Sabert Corporation
Recent Developments
In November 2021, COEXPAN declared a series of packaging solutions that involve its COEXSHIELD mono-material PET or PP trays for just produced food applications, which it asserts can exhaust shelf-life from 7 to 12 days. Established by INNOTECH, COEXPANs Innovation and Technology Centre, the novel series is planned to take the place of complex medium and high-barrier laminates with high-barrier mono-materials that involve supplements appropriate for food contact. The novel series is targeted towards minimizing food waste in line with the Sustainable Development Goals.
In October 2020, Fabri-Kal extended its sustainability product offerings with the introduction of Recycleware Containers. Produced in the U.S., the products include a minimum of 20-50% post-consumer recycled (PCR) PET material and are recyclable. The novel Recycleware products involve 50% PCR PET manufactured On-The-Go Boxes, which are appropriate for grab-and-go snacks, and a minimum of 50% PCR PET manufactured Round Deli Containers.
In July 2020, Sabert Corporation declared the introduction of its novel product line, the Kraft Collection. Saberts Kraft Collection includes an assortment of corrugated and paperboard food packaging solutions prepared with an assortment of materials, which are recyclable, compostable, and include post-consumer fiber content, underscoring Saberts long-standing dedication to sustainability. The versatile collection covers an extensive assortment of solutions for all operator requirements.
Key Takeaways
By country, the U.S. (North America Rigid Packaging Market) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the soaring application of an extensive assortment of rigid packaging solutions from bottles and jars to buckets, pails, cups, and tubs for different industries like food and confectioneries in conjunction with the application of corrugated cases.
North America Rigid Packaging Market growth is being driven by the surging demand for rigid thermoform plastic packaging in the food and beverage industry for safe seals, improved shelf life, and quality designs together with the application of corrugated cases. However, market maturity and market saturation in applications like bottled and canned beers and carbonated soft drinks are some of the major factors hampering the growth of the North America Rigid Packaging Market.
North America Rigid Packaging Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the North America Rigid Packaging Market report.
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