Australia Rigid Packaging Market to Grow with a CAGR of 3.75% through 2028
Surge in research and development activities is expected
to drive the Australia Rigid Packaging Market growth in the forecast period,
2024-2028.
According to TechSci Research report, “Australia
Rigid Packaging Market– By Region, Competition, Forecast and Opportunities,
2018-2028F”, the Australia Rigid Packaging Market stood at USD 2.03 billion in
2022 and is anticipated to grow with a CAGR of 3.75% in the forecast period,
2023-2028. The initiatives taken by government based on rigid packaging has led
to favorable market conditions for the Australia Rigid Packaging Market.
Several factors contribute to the growth of various rigid packaging market products.
The National Plastics Plan 2021 is a
comprehensive framework by the Australian Government that addresses the
pressing issue of plastic waste management. With a strong emphasis on
sustainability, the plan outlines a range of specific actions aimed at taking
responsibility for plastic waste. These actions encompass not only recycling
initiatives but also a concerted effort to reduce the consumption of single-use
plastics. Furthermore, to complement the government's regulatory measures, both
the industry and government have made significant investments in mechanical
recycling technologies. The goal is to achieve a remarkable recovery rate of
70% for plastic packaging within Australia. This commitment to sustainable
practices underscores the collective determination to create a greener and
cleaner future for generations to come.
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As industries
throughout Australia continue to evolve, the demand for innovative packaging
solutions also grows. In response, the rigid packaging industry has
significantly increased its investment in research and development, resulting
in technological advancements that enhance product functionality,
sustainability, and consumer convenience. For instance, extensive research in
material science has led to the development of rigid packaging materials with
improved barrier properties, thereby extending the shelf-life of packaged food
and beverage products. Furthermore, ongoing innovations in design and manufacturing
processes have facilitated the production of lightweight, yet durable,
packaging solutions, offering reduced transportation costs, and minimized
environmental impact.
The Australia
Rigid Packaging Market is segmented in material type, application, regional
distribution, and company. Based on its material
type, the plastic segment held the largest share in the market. The
resaleability of plastic packaging is one of the factors that contribute to its
popularity in today's market. Not only can plastic containers be reused or
recycled, but they also provide a cost-effective and convenient solution for
packaging various products. This versatility, coupled with the growing focus on
sustainability, makes plastic packaging a preferred choice for many industries.
Additionally, the durability and lightweight nature of plastic containers
further enhance their appeal, ensuring the safe transportation and storage of
goods.
Based on region, Australia Capital Territory & New
South Wales segment is expected to grow during the forecast period.
Efforts to phase out single-use plastics have made
significant progress in various regions, most notably in Western Australia and
South Australia. While not explicitly mentioned for the Australian Capital
Territory (ACT) and New South Wales (NSW), these progressive steps towards
sustainability across the country indirectly influence the demand for
sustainable rigid packaging solutions, thereby contributing to the dominance of
these territories in promoting eco-friendly practices and reducing plastic waste.
This commitment to environmental stewardship aligns with the global movement
towards a more sustainable future, highlighting the importance of collective
action in addressing the challenges posed by single-use plastics.
Major companies operating in Australia Rigid Packaging
Market are:
- Tetra Pak Manufacturing Pty Ltd.
- Berry Plastics (Aust) Pty Ltd.
- Sealed Air Australia Pty Ltd.
- Orora Packaging Australia Pty Ltd.
- Vision Packaging (Aust) Pty Ltd.
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“Growing application of rigid packaging in various end
user industries are key drivers of the rigid packaging market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of rigid packaging with every
passing year are anticipated to register an impressive growth to Australia
Rigid Packaging Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Australia Rigid Packaging Market By Material Type (Plastic,
Metals, Paper & Paperboards, Glass, Others), By Application (Food &
Beverage, Pharmaceutical, Cosmetics & Toiletries, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Australia Rigid Packaging Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Australia Rigid Packaging Market.
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