South Korea Rigid Plastic Packaging Market Overview, 2027

"South Korea, a country known for its technical breakthroughs and booming industrial sector, has a vibrant and constantly rising rigid plastic packaging industry that serves a variety of businesses and consumer demands. The South Korean market offers a comprehensive variety of rigid plastic packaging solutions, covering the different demands of industries such as food and drinks, pharmaceuticals, personal care, and home items, with an emphasis on innovation, quality, and sustainability. The market is distinguished by a significant emphasis on product safety, hygiene, and convenience, which South Korean consumers increasingly value in their purchase decisions. With a growing middle class and shifting consumer habits, there is a growing desire for packaged items that are not only physically appealing but also lightweight, durable, and environmentally friendly. In response to this demand, the South Korean rigid plastic packaging market has included sophisticated technologies and materials that provide increased product protection, prolonged shelf life, and lower environmental impact. Furthermore, as South Korea attempts to decrease plastic waste and foster a circular economy, the industry is shifting towards sustainable packaging options such as recyclable and biodegradable plastics. The market is very competitive, with domestic and foreign competitors offering a diverse variety of packaging solutions such as bottles, containers, trays, and closures. Manufacturers in the South Korean market prioritise constant research and development in order to offer creative designs and functional packaging solutions that match their customers' changing demands. As South Korea's economy grows and urbanises, the rigid plastic packaging industry plays an important role in supporting numerous sectors of the economy, maintaining product integrity, and improving overall customer experience. According to the report title, """"South Korea Rigid Plastic Packaging Market Overview, 2027,"""" published by Bonafide research, the market's growth is expected to grow rapidly over the forecast period from 2022 to 2027. The growing demand for packaging from the healthcare sector and biodegradable plastic packaging are expected to drive future market demands. Rapid urbanisation and increasing disposable consumer income are other factors likely to propel demand. Rigid plastic packaging helps to keep contamination at bay. Since healthcare products' packaging must comply with the International Regulatory Standards for safety, rigid plastics are the most suitable. As these are durable, lightweight, clean and transparent, they make a perfect choice. However, rising crude oil prices, a competitive landscape, and increased use of BisphenolA (BPA) in manufacturing, combined with volatile raw material prices, pose a challenge for manufacturers. The popularity of rigid plastic packaging is due to its efficiency in cost, durability, and lightweight properties. Rigid plastics such as polyethylene terephthalate and high density polyethylene can be directly dumped into a recycling bin. Rigid plastics are also recyclable, making them a more environmentally friendly option than flexible packaging. In addition, increasing applications of rigid plastic packaging in various industries are contributing to the growth of the market.

Rigid plastic packaging can be found in a variety of product packaging, including food and beverage, pharmaceuticals, personal care, and consumer goods. Out of these, there has been an increasing demand from the food and beverage industry with the rise in food delivery systems, ready-to-eat food packets, and frozen food segments. This is driven by the increased disposable incomes of Millennials, changing lifestyles, and convenient options. The growing popularity of dairy products and bread, poultry, seafood, and packaged foods among the populace adds to the rigid plastic packaging demand. These are also the most profitable for manufacturers, as companies manufacturing these food products demand them in bulk quantities, which adds to their profitability. Further, the customization of packaging and printability is further bolstering market demands. Further, research and development in the technological field will accelerate future demands. Bottles and jars packaging types lead the market and are expected to continue leading future market demands. Plastic bottles and jars are used for water, juice, soft drinks, cosmetics, food products, personal care products, and pharmaceutical products. They are made from PET, PE, PP, HDPE, PS, or PVC materials by the retail industry, driven by small and medium-sized package demands from consumers. Rising populations and rising income levels influence lifestyle changes that boost market demand for rigid plastic bottles and jars in the future. Rigid plastic bottles are used for packaging various products such as water, juices, carbonated soft drinks, cosmetics, food products, personal care products, and pharmaceutical products. Most of these bottles and jars are made from PET, PE, PP, HDPE, PS, and PVC. The thriving retail industry, combined with rising consumer disposable income, The increasing population, growing urbanization, and rising demand for beverages and home care products are fueling the market's growth. The COVID-19 pandemic situation is having immense effects on societies across the world. It has harshly affected all the businesses and manufacturing firms across the globe. However, rigid plastics have seen a mix of the rise in market demand for essential goods and decreased demand from non-essential product packaging due to prolonged lockdowns and disrupted supply chains. The personal and healthcare sectors boosted demand for rigid plastic packaging during this period. Key market players are exploring opportunities to overcome resistance in the rigid plastic packaging market. Market stakeholders in the rigid plastic packaging market are expanding their production capability to gain a competitive edge after the COVID-19 breakdown.

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Manmayi Raval

Research Consultant

Considered in this report • Geography: South Korea • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • South Korea Rigid Plastic Packaging market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Types of Product in the report: • Bottles and Jars • Rigid Bulk Products (Industrial Bulk Containers, Drums and Barrels, Plastic Crates Plastic Box, Plastic panels and sleeves, Plastic Pails, Other Products • Trays • Cups, Tubs and Pots • Others (blister and clamshell packs, rigid plastic tubes, etc.)

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By Application in the report: • Food and Beverages • Industrial • Healthcare • Cosmetics • Others (Household, Electronics) By Material Type in the report: • Polyethylene (PE) • Polyethylene Terephthalate (PET) • Polystyrene (PS) • Polypropylene (PP) • Polyvinyl Chloride (PVC) • Expanded Polystyrene (EPS) • Bioplastics • High Density Polyethylene • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to rigid plastic packaging industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Please get in touch with our sales team to find out more. """