Frost Radar in the Rigid Plastic Packaging Market
NEW YORK, Jan. 6, 2020 /PRNewswire/ -- Rigid plastics are well suited for packaging: they are lightweight, break- and shatter-proof, and easy on the pocket. They are used to make caps, closures, cups, and bottles, and other packaging items.
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Increasing demand from end-use industries such food and beverage and pharmaceuticals, consumer preferences for convenience, and new product and technology innovations have supported market growth.Busy lifestyles, the growing percentage of women in the workforce, and higher per capita income have made pre?cut, pre?portioned, smaller, and ready?to?consume products increasingly popular.
Microwavable meals, salad kits, and modified atmosphere packaging that extends shelf life and maintains freshness are common sights in supermarkets. A consequence is an increase in the amount of packaging per food unit.Food and beverage manufacturers have focused on efficient packaging systems that ensure a safe food supply and promote long-term storage, thus extending a product's shelf life. The food and beverage industry is one of the main users of rigid plastic packaging. Rigid plastic vials and bottles are used by the pharmaceutical industry related to functional requirements such as chemical compatibility, hygiene, and sustainability. Because products are chemically unreactive, they preserve the formulation of the enclosed drug. The environmental effects of plastic production and disposal have raised serious concerns, however. Although rigid plastic packaging can be recycled to some extent, consumers must be educated about the many different types and combinations of polymers to ensure proper separation. Some companies are pursuing advanced recycling and reuse initiatives. The rigid plastics packaging industry is fragmented, with numerous global and regional or domestic participants. Acquisition and mergers to expand a company's customer base and strengthen market position has been a significant strategy. For instance, in November 2016, Amcor acquired the North American rigid plastics blow molding operations of Sonoco Products Company. As part of the acquisition, Amcor gained control over 6 production sites in the United States and one in Canada, which significantly enhanced Amcor's product offerings. The radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the radar methodology. The document presents competitive profiles on each of the companies in the radar based on their strengths, opportunities, and a small discussion on their positioning. The analyst examines hundreds of companies in the industry and benchmarks them across 10 criteria on the radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
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