New York, USA, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Industrial Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Industrial Packaging Market Information by Packaging Type, Materials, Products, End-User, and Region - Forecast till 2030”, the market is estimated to grow at a 5.50% CAGR to reach USD 72,631.80 Million by 2030.
Market Scope:
A variety of products are protected, shipped, and stored using industrial packaging. Industrial packaging can be utilized at any stage in the supply chain, however it is often done at the production site immediately following manufacture. This kind of packaging is typically used for items that require a great deal of stability, are dangerous, big, or include components that are delicate to one another.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 72,631.80 Million |
| CAGR | 5.50% (2021–2030) |
| Base Year | 2020 |
| Forecast Period | 2021–2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Packaging Type, Materials, Products, End-User, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The growth in import and export activities all around the world |
| An increase in construction and building activities and a rise in international trading. |
Competitive Dynamics:
Key companies in the worldwide market use a variety of methods, such as technology releases, acquisitions, and R&D activities, to grow their businesses and establish their market scrope there. The prime players of industrial packaging global market are: -
- Greif Inc. (U.S.)
- Mondi plc (Austria)
- Amcor Limited (Australia)
- WestRock Company (U.S.)
- International Paper Company (U.S.)
- Bemis Company, Inc. (U.S.)
- Orora Limited (Australia)
- Mauser Group (Germany)
- Sigma Plastics Group (U.S.)
- Wuxi Sifang Drums Limited Company (China)
- NEFAB GROUP (Sweden)
- Sonoco Products Company (U.S.)
- AmeriGlobe LLC (U.S.)
- Schoeller Allibert (The Netherlands)
- Sealed Air Corporation (U.S.)
Market Dynamics:
Market Drivers:
One of the key elements fueling market expansion will be the increase in import and export activity on a global scale. Additionally, shipping containers are used to protect industrial equipment and make moving them from one location to another simple. An increase in building activity and international trade are two other elements influencing market expansion. The majority of the earnings earned by significant participants in the worldwide market are anticipated to come from the food and beverage sector. Additionally, a rise in the need for practical packaging solutions would fuel market expansion. The rise in demand for corrugated boxes can be attributed to an increase in the need for lightweight and simple-to-use packaging solutions.
Market Restraints:
The global rise in environmental concerns would, to a certain extent, restrain the market's expansion for industrial packaging. Vendors on the market raise the price of their goods and attempt to squeeze out more profit margins when the cost of raw materials rises, which has a negative impact on the market's expansion. The tight laws pertaining to unstable substances will also impede market expansion. Another issue that could hinder the market's growth is the rising daily need for solutions for recyclable packaging.
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Analysis of COVID-19
The majority of the market's manufacturing, development, production, and logistical divisions have had a very difficult time as a result of the coronavirus epidemic. The bulk packaging market for chemicals and agriculture, among other things, had a major reduction in demand, which had a moderate impact on the industrial packaging industry's growth rate.
However, there are several variables that have also benefited the packaging industry. People are unable to go outside due to lockdown limitations, so they turn to online marketplaces to acquire everyday necessities, which is driving up demand for bulk industrial packaging solutions and services.
The food businesses have been told to increase output by the governments of significantly impacted nations in order to prevent shortages and ensure a steady supply. All of these businesses are requesting additional industrial packaging materials as a means of complying with government mandates. The demand for industrial packaging materials is rising as a result of how successfully the pharmaceutical and healthcare sectors are handling the pandemic problem.
Market Segmentation:
By Packaging Type
The flexible segment is likely to record the highest growth over the review period.
By Material
The metal segment is expected to develop at the fastest growth rate over the assessment period.
By Products
Over the study period, the boxes segment is anticipated to have rapid expansion. The growth in demand for these product types across numerous applications in the food and beverage, pharmaceutical, and electrical sectors is responsible for the segment's leading market position.
By End-users
Over the research period, the food and beverage category is anticipated to grow at a significant CAGR. The need for bulk industrial packaging solutions is rising as more consumers use e-commerce and internet platforms to acquire daily necessities, FMCG, and fresh food. This increases the need for industrial packaging solutions for use in the food and beverage industry.
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Geographic Analysis:
In three of the world's major regions—Europe, the Asia-Pacific, North America, and the rest of the world—the industrial packaging industry movements are extraordinarily successful.
Asia Pacific is anticipated to be the largest market and may experience considerable growth over the projected period as a result of rising industrialization and urbanization. A factor that will support the expansion of the industrial packaging market in the Asia Pacific area is the rise in consumer expenditure and the adoption of new lifestyles. Due to rising population numbers and exchange rates, the industrial packaging market in APAC is anticipated to expand significantly throughout the forecast period. Strong bulk packaging product production and consumption from economies like China and India, which have been seeing sustained demand from key consuming nations, has contributed to the market's growth.
North America is predicted to be the second-largest market for industrial packaging solutions and services due to an increase in import and export activity. The implementation of a North American free-trade agreement will further accelerate market expansion. Europe will have the third-largest market share because to the strong demand for industrial packaging in the food, beverage, and pharmaceutical sectors.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
