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Global Rigid Plastic Packaging Market 2019-2023 | High Demand from the Healthcare Industry to Boost Growth | Technavio

October 11, 2019
Global Rigid Plastic Packaging Market 2019-2023 | High Demand from the Healthcare Industry to Boost Growth | Technavio
Global Rigid Plastic Packaging Market 2019-2023 | High Demand from the Healthcare Industry to Boost Growth | Technavio

LONDON--(BUSINESS WIRE)--Oct 11, 2019--

The global rigid plastic packaging market is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global rigid plastic packaging market 2019-2023. (Graphic: Business Wire)

Rigid plastics are increasingly being used in the healthcare industry to prevent contamination of medicines. The inert properties of rigid plastics such as durability, transparency, lightweight, and cleanliness have made them best suited for packaging and storing of complex medical products. Rigid plastics are also used to store various medical solutions. For instance, they are used as airtight seals to protect medical solutions from moisture, particulates, and oxidation. APAC is one of the leading manufacturers of pharmaceutical products. Factors such as increasing contract manufacturing in the region and the growing geriatric population are driving the demand for rigid plastic packaging in the healthcare industry. This is expected to fuel the growth of the global rigid plastic packaging market during the forecast period.

To learn more about the global trends impacting the future of market research, download a free sample:https://www.technavio.com/talk-to-us?report=IRTNTR30757

As per Technavio, the use of fiber-based materials for packaging will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Rigid Plastic Packaging Market: Use of Fiber-Based Material for Packaging

Growing concerns over the impact of non-recyclable materials on the environment have compelled many enterprises to use materials that can be recycled and comply with various environmental protection regulations. This has increased the use of fiber-based materials in packaging products as they are reusable, renewable, and biodegradable. The use of such packaging materials has been widely accepted by many enterprises across F&B, chemical, and construction industries. To capitalize on this trend, market vendors are introducing packaging products made of fiber-based materials. This is expected to fuel the growth of the market during the forecast period.

“Apart from the use of fiber-based material for packaging, the emergence of smart packaging and rising popularity of lightweight packaging materials are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Rigid Plastic Packaging Market: Segmentation Analysis

This market report segments the global rigid plastic packaging market by component (bottles, containers, caps and closures, and others) and geography (APAC, Europe, MEA, North America, and South America).

The APAC region led the market in 2018, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the growing demand for beauty and personal care products in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191011005329/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:media@technavio.com

Website:https://www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: PACKAGING CHEMICALS/PLASTICS MANUFACTURING

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 10/11/2019 03:00 PM/DISC: 10/11/2019 03:01 PM

http://www.businesswire.com/news/home/20191011005329/en