GCC (Gulf Cooperation Council) Rigid Packaging Market - Growth, Trends, and Forecasts (2019 - 2024)

SKU ID : INH- 13241903

Publishing Date : 01-Feb-2019

No. of pages : 80

PRICE
3850
8250

  • Market Overview

    GCC Rigid Packaging market was valued USD 15.33 billion in 2018 and is expected to register a CAGR of 5.73% during the forecast period (2019 - 2024). Favorable economic and demographic trends, an increase in personal disposable income, and the expansion of economies are key factors that contribute to the expansion of market studied in various countries.

    Rise in demand for domestically manufactured goods has led to a rise in demand for effective rigid packaging solutions, thus driving the growth of the rigid packaging market in major countries within GCC.
    The high per capita income and younger demographic profile of GCC nations have a positive effect on the demand for high-value luxury goods and electronics goods. The working expatriate population is the reason for the increase in demand for consumer goods. Additionally, the regional governments have been emphasizing to improve their infrastructure to bring in an influx of tourists to their countries.
    Government support for domestic food production is continuing to reduce reliance on imports, which is supporting the growth of the local food and beverage providers.

    Scope of the Report

    The rigid packaging market is segmented by material and end-user vertical. The materials are further segmented by plastic, glass, metal, and paper whereas the end-user vertical is segmented into food and beverage, pharmaceutical, personal care and industrial.

    Key Market Trends

    PET to Hold Major Share

    In GCC region, the Polyethylene terephthalate (PET) segment of the market studied is estimated to expand at the highest rate, due to the high demand for PET resins in the manufacturing of bottles for soft drinks and other beverages. The demand for rigid packaging from the food and beverage industry is expected to be constant, which is also driving the demand for PET in the region.

    Saudi Arabia currently recycles about 10% of its PET (polyethylene terephthalate) bottles. The recycling percentage is expected to grow with increasing focus of the government toward recycling, which, in turn, is likely to drive the demand of PET in the country.

    In 2017, the Gulf Cooperation Council (GCC) has drafted technical regulations intended for food packages, food supplements, and food. This is further estimated to increase the demand for PET in the packaging industry.

    Competitive Landscape

    The GCC rigid packaging market is competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. In Aug 2018, Amcor Limited and Bemis Company Inc. entered a definitive agreement, under which, Amcor would acquire Bemis for a USD 6.8 billion all-stock transactions.

    Reasons to Purchase this report:

    - The market estimate (ME) sheet in Excel format
    - Report customization as per the client's requirements
    - 3 months of analyst support

    Frequently Asked Questions



    This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.

    • By product type
    • By End User/Applications
    • By Technology
    • By Region

    The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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