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The global Rigid Box Market size was 139.49 US Dollars in 2020 to 197.62 US Dollars by 2028, at a CAGR of 4.76%.
The comprehensive information published as a report of "Rigid Box Market Analysis to 2028" gives a high importance to parent industry. The biggest focus is on the analysis of the international market trend. The report aims to provide an overview of Rigid Box market with detailed market segmentation by type, and Application. The Rigid Box market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading players in Rigid Box market and offers key trends and opportunities in the market.
The global market for rigid box is expected to witness considerable growth during the forecasted period, particularly driven by demand from food products manufacturers. The most commonly chosen confectionary items that are packed and moved carefully include chewing gum, nuts, ice cream, and sugar candies. Apart from sugar confectionaries, rigid boxes are also used for packaging of baker confectioneries such as cakes, cookies, doughnut, pastries, etc. Demand for baker confectionary constitutes prominent market segment in the global rigid box market.
Asia Pacific Rigid Box Market Status and Outlook (2017-2028) (USD Billion)
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The global rigid box market is expected to witness surge in growth in 2022, owing to growth in various industries such as food & beverage, healthcare & pharmaceutical, electronics among others. The COVID-19 pandemic has changed the buying pattern of end users. The market has witnessed a slowdown from 2019. The manufacturers faced disruptions in supply chain as the biggest hurdle in last two years.
The demand for safe product delivery with the growing e-commerce channel manufacturer did face a challenging task in recent years. The impact was severe at the box manufacturing level with a continuous lockdown in most of the countries pushing market with a negative impact. Various government across globe are pumping money in the market this will help the manufacturers to gain some momentum in coming years.
Growth in the packaging industry in APAC
In India, the packaging industry has witnessed constant changes over the years while it emerged as one of the largest sectors in India’s economy. According to the Packaging Industry Association of India (PIAI), the sector is growing at 22% to 25% per annum. The Fast-Moving Consumer Goods (FMCG), food processing sector, and pharmaceuticals are also some of the biggest contributors driving the growth of the packaging industry in the country for a long time. In recent years, there has been a new user facilitating the growth of the Indian packaging industry that is e-commerce. The widespread adoption of e-commerce facilities has resulted in thousands of packets being delivered daily across the country. This has further increased the demand for quality packaging of the products.
Ready-to-Display and Zero Deformation Packaging Trends to Create Demand for Rigid Boxes
Gifting has played an important role in carving a niche for rigid boxes especially luxury rigid boxes that lend an unparalleled aesthetic value to the product. In recent years, emerging trend of gifting for various kinds of reasons has fueled the market for rigid boxes. Using rigid boxes for premiumization has been a strengthening trend amongst a score of established gifting companies and start-ups
Increasing adoption of flexible packaging materials
Flexible plastic packaging requires fewer resources and energy for packaging; hence, flexible packs are available at low costs and occupy 35% less retail shelf space, rendering them cost-effective as compared to other forms of packaging. Robbie Fantastic Flexibles, a member of the Flexible Packaging Association, states that the manufacturing of 780,000 flexible pouches consumes 87% less coal, 74% less natural gas, and 64% less crude oil when compared to the sturdy clamshell package manufacturing. Moreover, there has been a gradual shift in consumer choice from traditional methods of preparing food at home to buying packaged products.
Recycling & environmental concerns associated with plastic rigid boxes
World Economic Forum revealed that more than 8 million tones of plastics pollute the ocean. According to the date, at least one truck disposes of its garbage into the ocean. It will get increased by 2030. Thus, the ecosystem will be at risk. About 90% of all the trash in the oceans is from plastic. Most of the pollution is from plastic packaging. Hence, recycling becomes a major challenge in the rigid plastic packaging industry, which provides re-use value, and results in lower wastage.
Addition of Celebratory Days to Calendar Creates Stronger Demand for Gifting, creating market opportunities
The trend of marking days to celebrate awareness raising or specific occasions has been gaining wind. These days to commemorate and celebrate achievements and dedicate a day of gratitude around it have given the gifting companies across the globe to cater to the demands. From chocolates packed in luxury rigid boxes to expensive, items, the demand for rigid boxes has definitely spiked in recent years. While days such as Mother’s Day, Father’s Day, and Valentine’s Day were commonly seen as occasions to gift, the emerging pet industry is also seen indulging in designing and commercializing gifts for International Cat Day and Dog Day.
Change in lifestyle patterns
In urban regions, there are several nuclear families where both men and women are earning members. This new tend has transformed the lifestyle of several consumers in emerging economies. Busier lifestyles demand on-the-go products that reduce the time spent on cooking, which contributes to the development of the convenience packaging market, which, in turn, impacts the rigid box market. Moreover, rising disposable income and increasing consumption of packed goods will also fuel the demand for rigid boxes in emerging markets.
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Based on the type, the global rigid box market is primarily split into Paper Rigid Box, Plastic Rigid Box and Metal Rigid Box. Plastic Rigid Box growing with high CAGR during forecast period.
Based on the Rigid Box Application, the Rigid Box market is segmented into several major parts, like Food and Beverage Industry, Electrical and Electronic Industry, Cosmetics and Personal Care Industry and Others. Electrical application is growing with high CAGR during forecast period as compared to other applications.
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Asia Pacific holds the highest market share driven mostly by large population base in China & Indian region. Growth in the cosmetic and personal care industry due to increasing consumers spending on the cosmetics products is expected to serve major growth opportunities for rigid box packaging. All these factors are expected to augment the market growth of the rigid packaging.
Key players operating in the global rigid box market include WestRock, Smurfit Kappa Group, International Paper, Pratt Industries, Oji Holdings, DS Smith, Mondi Group, Action Box, Tat Seng Packaging Group
This report forecasts revenue growth at regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2018-2028. For the purpose of this study, Research Layer has segmented the Rigid Box Market based on product, application, and region:
Report Scope
The global Rigid Box Market size was 139.49 US Dollars in 2020 to 197.62 US Dollars by 2028, at a CAGR of 4.76% in Type, Application and Geographical segments.
As per Research Layer growth scope of the Rigid Box Market is 4.76%.
Contenders in the market for Rigid Box are Avon Products, Inc.; Buckley London; Stuller, Inc.; Giorgio Armani S.p.A.; Yurman Design Inc.; LVMH Group; VAN CLEEF & ARPELS; Pandora Jewellers; RIAH FASHION; Rosec Jewels; Beads Discounter Inc; Pandora A/S
Following Segments Coverd in Rigid Box Market- Product, material, end-user, distribution channel, region
Asia Pacific is a major Region Driver in the Rigid Box Market
Report Code :
RL6511
Published on :
Upcoming
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