Dublin, May 04, 2023 (GLOBE NEWSWIRE) -- The "Transit Packaging Market by Type, Sector, and Geography - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global transit packaging market is projected to reach USD 152.7 billion by 2030, at a CAGR of 5.8% during the forecast period of 2023-2030.
Companies Mentioned
- WestRock Company (U.S.)
- International Paper (U.S.) Greif Inc. (U.S.)
- Sonoco Products Company (U.S.)
- Mondi Group plc (U.K.)
- Smurfit Kappa Group plc (Ireland)
- DS Smith Plc (U.K.)
- Packaging Corporation of America (U.S.)
- Crown Holdings Inc. (U.S.)
- Nefab Group AB (Sweden)
- Corplex (France)
- Smithpack Limited (U.K.)
- STI-Gustav Stabernack GmbH (Germany)
- GWP Group (U.K.)
- Eltete TPM Ltd (Finland)
The growth of the transit packaging market is driven by the rapid growth of the e-commerce sector, the surging use of transit packaging in the food & beverage sector, the growing adoption of corrugated boxes across various sectors, and the increasing demand for transit packaging in the pharmaceuticals sector. In addition, the growing need for eco-friendly packaging solutions and the rising demand for customized packaging are expected to create market growth opportunities.
The transit packaging market is segmented by type and sector. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on type, the global transit packaging market is segmented into primary packaging, secondary packaging, tertiary packaging, and ancillary packaging. In 2023, the primary packaging segment is expected to account for the largest share of the global transit packaging market.
The large market share of this segment is attributed to the rising need to protect and preserve the finished products and the growing demand for primary packaging in the food & beverage and pharmaceutical sectors. However, the secondary packaging segment is projected to register the highest CAGR during the forecast period.
Based on sector the global transit packaging market is segmented into food & beverage, retail & e-commerce, paints & chemicals, building & construction, pharmaceuticals, electrical & electronics, automotive, industrial machinery & equipment, and other sectors. In 2023, the food & beverage segment is expected to account for the largest share of the global transit packaging market.
This segment's large market share is attributed to the growing packaged food industry in emerging economies, the increasing demand for shelf-life extension of foods, and the increasing demand for hygienic food packaging. However, the pharmaceutical segment is projected to register the highest CAGR during the forecast period.
Based on geography, the global transit packaging market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global transit packaging market.
Asia-Pacific's large market share is attributed to government initiatives promoting sustainable packaging in the region, the rapidly growing e-commerce sector, and the surging usage of transit packaging in the food and beverage sector. Asia-Pacific is also projected to register the highest CAGR during the forecast period.
Key questions answered
- Which are the high-growth market segments in terms of type and sector?
- What is the historical market for transit packaging across the globe?
- What are the market forecasts and estimates for the period of 2023-2030?
- What are the major drivers, restraints, and opportunities in the global transit packaging market?
- Who are the major players in the global transit packaging market, and what share of the market do they hold?
- Who are the major players in various countries, and what share of the market do they hold?
- How is the competitive landscape?
- What are the recent developments in the global transit packaging market?
- What are the different strategies adopted by the major players in the global transit packaging market?
- What are the geographical trends and high-growth countries?
- Who are the local emerging players in the global transit packaging market, and how do they compete with the other players?
Scope of the Report:
Transit Packaging Market, by Type
- Primary Packaging
- Pouches
- Cartons
- Bags & Sacks
- Wet Strength Paper Bags
- Woven Sacks
- Paper Bags
- Foils, Laminates and Wraps
- Shrink Wraps
- Cling Film
- Bubble Wraps
- Secondary Packaging
- Crates
- Trays
- Tertiary Packaging
- Pallets
- Fiber Board
- Containers
- Bulk Containers
- Wooden Containers
- Ancillary Packaging
- Printing & Labeling
- Straps & Tapes
- Cushioning Material
Transit Packaging Market, by Sector
- Food & Beverage
- Retail & E-commerce
- Paints & Chemicals
- Building & Construction
- Pharmaceuticals
- Electrical & Electronics
- Automotive
- Industrial Machinery & Equipment
- Other Sectors
For more information about this report visit https://www.researchandmarkets.com/r/bidqdc
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