This corresponds to more moderate global growth of 4% in the US$80bn market, according to research by Future Market Insights.
Asia’s dominance will come mainly from the robust expansion of its food and beverage industry, coupled with an increased demand for eco-friendly and sustainable packaging owing to strict regulations concerning material recycling.
The research analyst predicted that China and India would remain the most lucrative countries for the rigid food containers market in the region.
North America is expected to remain the second largest market, with America being the most lucrative country. Growth there will be driven by shifting preference towards bioplastics on the back of stringent regulations to reduce carbon footprints.
Increased demand for ready-to-drink beverages and packaged frozen foods, spurred by increasingly hectic lifestyles, will also push the market forward.