Global Preformed Rigid Solutions Market: Overview
Packaging plays a significant role in increasing shelf life of the product as well as in product differentiation. Key packaging manufacturers across the globe readily design & innovate novel solutions for meeting the unique requirements from the manufacturing industry.
One of such novel type of packaging solutions are the preformed rigid containers which attract a great demand for packaging in food & beverages, pharmaceutical, electronics and automotive industries. Also growing prominence on quality of packaging has given a significant push to the global preformed rigid solutions market. Preformed rigid solutions for instance trays, cups, bottles, jars, bowls, clamshell containers, etc. are gaining traction, owing to its attractive as well as innovative packaging features
Global Preformed Rigid Solutions Market: Market Dynamics
Food & beverage is projected to be the top investment pocket for the global preformed rigid solutions market as the preformed containers provide a safe & robust packaging solutions. The Higher operational performance of preformed containers such as trays, cups, bottles, jars, etc. has furthered the growth in the preformed rigid solutions market across the globe. However, high initial installation cost coupled with regular maintenance of equipment used for manufacturing preformed rigid containers is expected to negatively affect the preformed rigid solutions market during the forecast period.
Moreover, the escalating demand for lightweight, cost-efficient and easy-to-use flexible packaging products such as pouches, wraps, bags, sachets, etc., is projected to further hamper the growth prospects of preformed rigid solutions market across the globe
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Global Preformed Rigid Solutions Market: Company Developments and Industry Level Trends
- Pretium Packaging LLC, a U.S. based rigid plastic bottles and containers launched a new product SureHandle, a polyethylene terephthalate (PET) container designed with integrated handle.
- In September 2015, Sonoco Products Company launched DivvyPack which is a combination of thermoformed pack and sliding lid
- In 2015, PACTIV LLC launched tamper resistant container and lids named as TimeSquare to serve packaging requirements from food & beverages packaging verticals
- In November 2013, Anchor Packaging, Inc. launched 6” square RPET containers & lids to cater the increasing demand for small salads, sides, and reduced portions.
Global Preformed Rigid Solutions Market: Segmentation
The global preformed rigid solutions market is segmented as follows
On the basis of product type, the global preformed rigid solutions market is segmented into:
- Trays & Punnets
- Cups & Tubes
- Bottles & Jars
- Plates & Bowls
- Clamshell containers
- Microwaveable containers
On the basis of molding process, the global preformed rigid solutions market is segmented into:
- Injection Molding
- Blow Molding
On the basis of material type, the global preformed rigid solutions market is segmented into:
On the basis of applications, the global preformed rigid solutions market is segmented into:
- Food Packaging
- Meat Products
- Bakery and Confectionery
- Food Service Products
- Beverages Packaging
- Pharmaceutical Packaging
- Cosmetics and Personal Care
- Industrial Goods
- Appliance & Electronics
- Construction Industry
- Automotive Industry
Global Preformed Rigid Solutions Market: Regional Overview
Regionally global preformed rigid solutions market is segmented into
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
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The APAC preformed rigid solutions market is estimated to witness a blistering growth during the forecast period. Rise in population, resulting in growth of urbanization in the economies like India & China is anticipated to direct the APAC market in the uphill direction. In the coming years, due to the rise in consumption of food & beverages and pharmaceutical products coupled with the emergence of automobile industries, consumer electronics, construction, etc. this regional segment shall arise as the key revenue generator from the global economic perspective in the preformed rigid solutions market. Moreover, North America and the European countries are expected to follow APAC with respect to market share in the preformed rigid solutions market across the globe. Countries like Mexico, Brazil, Argentina, etc. in Latin America are estimated to steer the demand for re-usable rigid packaging solutions, thus leading to the growth in the consumption of preformed rigid solutions.
Largely, the global preformed rigid solutions market is projected to register a healthy growth rate over the forecast period.
Global Preformed Rigid Solutions Market: Key Players
Some key players that currently operate in preformed rigid solutions market across the globe can be segmented into three tiers based on their market share as follows
- Tier 1 (includes market leaders with a market share of more than 5%)
- Coveris Group
- DS Smith plc.
- Amcor Limited.
- Sonoco Products Company
- Huhtamaki Group
- Tier 2 (includes market players with a market share above 1% while below 5%)
- Bemis Company, Inc.
- Genpak LLC.
- Placon Corporation.
- Silgan Plastics LLC
- Pactiv LLC
- Anchor Packaging, Inc.
- Tier 3 (includes manufacturers with market share below 1%)
- D&W Fine Pack LLC
- Spencer Industries Inc.
- Tray-Pak Corporation
- Greiner Packaging
- Brentwood Industries, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.