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Driven by growth in emerging markets, a new report estimates that the global rigid plastic packaging market will reach a value of $161.11 billion in 2013.

PlasticsToday Staff

March 8, 2013

1 Min Read
The global rigid plastic packaging market worth $161.11 billion in 2013

The report, by Visiongain, said emerging markets will be characterized by clear immaturity and strong economic growth, which will increase the quality and quantity of consumer purchases. In addition, low labor costs will also provide an incentive for companies to expand the scale of their operations in these markets.

While the effects of the economic crisis are still felt throughout the entire supply chain, Visiongain said that the conditions the crisis has created have actually proved favorable to the growth of rigid plastic packaging.

As a consequence of the economic crisis, there has been a change in consumer preferences and this has been reflected in purchasing patterns. Consumers want convenience and they are looking for good quality products at an affordable price, according to the report.

There are also demographic trends that have positively affected growth in the rigid plastic packaging market. An aging population, for example, has stimulated demand for packaging with greater visual appeal and ease of use, with rigid plastic packaging proven effective in addressing this demand.

"The economic crisis has also led to more people staying at home and increasing their consumption in the household," the report stated. "This has increased the need for packaged products and has helped galvanize demand in the rigid plastic packaging market."

Visiongain provides forecasts for the global rigid plastic packaging market during the 2013-2023 period. The report analyzes six submarkets, which include food, beverage, personal care, health care and industrial. 

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