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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