Global Tamper Evident on Rigid Packaging Market Expected to Reach USD 27,905.1 Million by 2027, With a CAGR Of 12.1% | Growth Market Reports
PUNE, India, Aug. 19, 2021 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Tamper Evident on Rigid Packaging Market by Product Type (Shrink Sleeves, Induction Seal, Film Wrappers, Blister or Strip Packs, Bubble Packs, and Others), By Packaging Type (Conventional and Intelligent), By Material Type (Plastic, Glass, Metal, and Others), By End-user (Food & Beverages, Cosmetics & Personal care, Pharmaceuticals, Consumer Goods, and Others) and Regions: Size, Share, Trends and Opportunity Analysis, 2017-2027", the market was valued at USD 11,250.0 Million in 2019 and is expected to grow at a healthy growth rate of 12.1% by the year 2027. The global tamper evident on rigid packaging market is anticipated to grow significantly during forecast period. Major factors enabling the global tamper evident on rigid packaging market are technological advancement in the packaging industry and emergence of bio-based material for tamper evident packaging products.
Key Market Players Profiled in the Report
- DowDuPont (DWDP)
- Schreiner Group
- Placon
- CurTec
- Dart Container Corporation
- Enercon Industries Corporation
- Interpack Ltd.
- Grupo Phoenix
- Resource Label Group
- Selig Group, Inc.
- Syntegon Technology GmbH
- Traco Packaging
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
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This report also includes a complete analysis of industry players that cover their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.
Highlights on the segments of the Tamper Evident on Rigid Packaging Market
In terms of Product Type, the tamper evident on rigid packaging market is segmented into shrink sleeves, induction seal, film wrappers, blister or strip packs, bubble packs, and others. The induction seal segment held 23.4% value share of the market in 2020. This growth may be attributed to increasing applications in the drug, food, and liquid containers. The film wrapper segment is anticipated to expand at a CAGR of 12.3% during the forecast period. Film wrappers provide opportunities for branding, as they can be printed on with multiple texts, colors, and visual components for branding purposes. Such advantages offered by film wrappers anticipated to boost the segment growth during the forecast period.
On the basis of Packaging Type, the market is segmented into conventional and intelligent. The conventional segment is anticipated to hold a significant share of the tamper evident on rigid packaging market during the forecast period. This growth can be attributed to the increasing demand for tampered evident packaging products from end-use industries. On the other hand, the intelligent segment is projected to expand at a significant CAGR during the forecast period due to increasing awareness among consumers to ensure the quality of the product before purchasing. This trend is anticipated to fuel the growth of the intelligent segment during the forecast period.
Based on Material Type, the market is categorized as plastic, glass, metal, and others. The plastic segment held 52.9% value share of the market in 2020. This growth may be attributed to availability and cost-efficiency of plastic. Moreover, market participants are focusing on designing 100% recycle tamper evident on rigid packaging products, which is anticipated to boost the segment growth during the forecast period. The demand for metal and plastic evident on rigid packaging is projected to grow in the food & beverage industry during the forecast period due to their properties to keep food products fresh and healthy.
By End-user, The global tamper evident on rigid packaging market is divided into food & beverages, cosmetics & personal care, pharmaceuticals, consumer goods, and others. The pharmaceuticals segment is projected to account for a substantial share of the market during the forecast period owing to the rising usage of induction seal, blister packs, and bubble packs for customer safety. The food & beverages segment is anticipated to expand at a substantial CAGR during the forecast period owing to intentional tampering, counterfeiting, malicious adulteration, and falsification of food and liquid products. Companies in the segment are attempting to safeguard products against tampering, in the interest of health risks posed to consumers along with securing brand trust.
On the basis of Region, the market is categorized as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). The market in the Asia Pacific is anticipated to grow at a considerable pace during the forecast period. Growing government initiatives to promote the use of environment-friendly material in the packaging industry is expected to propel the market in this region. Moreover, Europe constituted to significant share of the global taper evident on rigid packaging market in 2020 owing to increasing demand for tamper evident packaging from the end use industries.
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Key Takeaways from the Study:
- In terms of value the North America held significant market share 20.4% in 2019 and is anticipated to reach 20.1% by the end of 2027.
- The Food & Beverages segment is expected to grow significantly during the forecast period.
- Growing demand from the food & beverage and pharmaceutical industry anticipated to impel the market growth during the forecast period.
- In terms of value the Pharmaceuticals segment held the market share, 27.0% in 2019 and is anticipated to reach 27.5% by the end of 2027.
- Increasing demand from the numerous end use industries projected to boost the market growth during the forecast period.
- The plastic segment is anticipated to grow at a considerable pace during the forecast period due to low-cost of plastic material.
- In terms of value the Metal segment hold the market share, 23.0% in 2019 and is anticipated to reach 23.2% by the end of 2027.
Read 263 Pages Research Report with Detailed ToC on "Global Tamper Evident on Rigid Packaging Market by Product Type (Shrink Sleeves, Induction Seal, Film Wrappers, Blister or Strip Packs, Bubble Packs, and Others), By Packaging Type (Conventional and Intelligent), By Material Type (Plastic, Glass, Metal, and Others), By End-user (Food & Beverages, Cosmetics & Personal care, Pharmaceuticals, Consumer Goods, and Others) and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028"
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Key Segments Covered
By Types
- Shrink Sleeves
- Induction Seal
- Film Wrappers
- Blister or Strip Packs
- Bubble Packs
- Others
By Packaging Type
- Conventional
- Intelligent
By Material Types
- Plastics
- Glass
- Metal
- Others
By End-user
- Food & Beverages
- Cosmetics & Personal care
- Pharmaceuticals
- Consumer Goods
- Others
By Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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