)--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. 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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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.