Visiongain said the global plastic packaging market was expected to witness a dramatic change in its competitive landscape over the next decade, and would continue to see its value rise.
Packaging manufacturers seek a material that is strong but lightweight, one that can withstand the demands of global shipping routes but is inexpensive to produce. This demand gives rigid plastic packaging a significant advantage, according to the report.
The 282-page report said that growth in demand for rigid packaging was being driven by emerging economies, which had seen incomes rise, economies grow and consumers shift to on-the-go lifestyles. These factors meant packaging has had to adapt to meet these changes in the market.
It also said that rigid plastic was one of the most widely-used materials, due to flexibility over other popular materials, such as metal or glass. The report said the advantages of rigid plastic over the aforementioned rivals included the fact it was malleable, durable and could be adapted to a range of design specifications.
“The surging demand for rigid plastic packaging in emerging economies driven by a combination of economic growth, rising income, and the emergence of the ‘on-the-go’ lifestyle is a major stimulator of the growing demand for rigid plastic packaging,” said Yuchen Zhang, materials analyst at Visiongain.
“Globally, packaging manufacturers prefer a material that is strong but light-weight, reliable yet affordable, which gives rigid plastic packaging a strong competitive edge over many other materials.”