Dublin, Oct. 11, 2024 (GLOBE NEWSWIRE) -- The "Conveyance & Packing Goods Market by Plastic Products (Conveyance Goods, Packing Goods), Functionality (Flexible Packaging, Rigid Packaging), Plastic Material, End-Use Industry, Distribution Channel, Application and Region - Global Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Conveyance & Packing Goods Market grew from USD 48.10 billion in 2023 to USD 50.08 billion in 2024. It is expected to continue growing at a CAGR of 4.20%, reaching USD 64.20 billion by 2030.
Market insights indicate that technological advancements in sustainable and durable materials are key growth factors fueling market expansion. The increasing demand for eco-friendly and customizable packaging solutions presents significant opportunities, especially as environmental regulations become more stringent. Globalization and the e-commerce boom further drive the need for efficient conveyance systems, underscoring the potential for market growth.
Despite these opportunities, several limitations and challenges persist. High raw material costs and environmental concerns about packaging waste are significant barriers. Additionally, the market faces challenges in adapting to rapidly changing consumer preferences and technological advancements. These dynamics demand constant innovation and adaptability.
Consequently, areas of innovation and research are best focused on developing biodegradable materials, exploring automation in packaging processes, and leveraging AI and IoT for enhanced logistics solutions. Businesses can also gain a competitive edge by focusing on lightweight yet strong packaging solutions to reduce shipping costs.
The market is highly dynamic, with an increasingly competitive landscape necessitating ongoing research into consumer trends and regulatory changes. Companies can benefit from strategic partnerships and acquisitions to expand their product offerings and geographic reach. By continually innovating in product design and production processes, businesses can effectively meet evolving market demands while mitigating environmental impacts, thus ensuring sustainable growth in the conveyance & packing goods sector.
Market Dynamics
The market dynamics represent an ever-changing landscape of the Conveyance & Packing Goods Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
Market Drivers
- Rise in e-commerce and online shopping increasing the demand for efficient and robust packaging solutions
- Increased consumer awareness about eco-friendly packaging
Market Restraints
- Concerns associated with supply chain disruptions and volatile pricing
Market Opportunities
- Integration of AI and IoT in packaging to enhance supply chain efficiency and product safety
- Developing tailor-made packing solutions for burgeoning niche luxury goods and artisanal products
Market Challenges
- Challenges associated with regulatory compliance and policies
Market Segmentation Analysis
- Plastic Products: Growing Significance of boxes for packaging due to versatility and strength
- End-use Industry: Rising applications of conveyance and packing goods in eCommerce & retail owing to sustainability and cost-effectiveness
Industry Analysis
- Porter's Five Forces Analysis
- PESTLE Analysis
- Market Share Analysis
- FPNV Positioning Matrix
- Strategy Analysis & Recommendation
Recent Developments
Chemco's strategic expansion in Bahrain bolsters sustainable rigid packaging production amidst growing FMCG demand
Chemco is set to enhance its rigid packaging production in Bahrain by installing fully automated production lines, driven by growing demand in the fast-moving consumer goods sector. This expansion emphasizes Bahrain's strategic importance and Chemco's commitment to sustainability through environmentally responsible packaging. Chemco aims for strengthened production capabilities, sustainable growth, and a fortified market presence, with a long-term strategy centered on sustainability.
Carmencita and ITC Packaging innovate paprika packaging with eco-friendly design enhancing usability
Carmencita and ITC Packaging collaborated to enhance paprika packaging, focusing on creating a revolutionary design that features a light barrier and a two-sided flip top cap. The new packaging is designed for user versatility, allowing spices to be spooned out or sprinkled and also aims for extending shelf-life with a heat-sealable cap-jar join and UV-protective IML labeling. This innovative approach reduces raw material usage, improves stackability, and lowers carbon emissions, signaling a commitment to sustainability. The collaboration serves as a strategic move to compete in the eco-conscious market by meeting growing consumer demand for sustainable products.
3M revolutionizes packaging with eco-friendly, automated mailer innovation
3M introduced the world's first padded, paper-based curbside recyclable mailer, designed for automation and offers up to three times faster packaging compared to manual methods. This innovation enhances protection and sustainability through proprietary padding technology. This initiative aims for improved operational efficiency, environmental benefits, and wide industry applicability and aligns with 3M's long-term strategy to play a crucial role in sustainable packaging solutions and contribute to global environmental goals.
Key Company Profiles
The report delves into recent significant developments in the Conveyance & Packing Goods Market, highlighting leading vendors and their innovative profiles. These include:
- ALPLA Werke Alwin Lehner GmbH & Co. KG
- Amcor plc
- AptarGroup, Inc.
- Berry Global, Inc.
- Braskem S.A.
- CCL Industries Inc.
- Fuji Seal International, Inc.
- Gerresheimer AG
- Klockner Pentaplast Group
- Mondi Group
- Piovan S.p.A.
- Polycine GmbH
- Reynolds Group Holdings Limited
- Sealed Air Corporation
- Silgan Holdings Inc.
- Smurfit Kappa Group plc
- Sonoco Products Company
- Tekni-Plex, Inc.
- Tetra Laval International S.A.
- Uflex Ltd.
- Winpak Ltd.
Market Segmentation & Coverage
This research report categorizes the Conveyance & Packing Goods Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Plastic Products
- Conveyance Goods
- Crates
- Pallets
- Trolleys
- Packing Goods
- Boxes
- Bubble Wraps
- Lids & Caps
- Packing Bags
- Plastic Insulated Ware
- Sacks & Bags
- Stoppers
- Tubes and Canisters
- Conveyance Goods
- Functionality
- Flexible Packaging
- Rigid Packaging
- Plastic Material
- Polycarbonate
- Polyethylene
- Polypropylene
- Polyvinyl chloride
- End-use Industry
- Automotive
- Chemicals
- Consumer Goods
- e-Commerce & Retail
- Electronics
- Food & Beverage
- Industrial
- Pharmaceuticals
- Distribution Channel
- Offline
- Online
- Application
- Liquid Goods
- Semi- Solid Goods
- Solid Goods
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States (California, Florida, Illinois, New York, Ohio, Pennsylvania, Texas)
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
Key Attributes
| Report Attribute | Details |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $50.08 Billion |
| Forecasted Market Value (USD) by 2030 | $64.2 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/hsrd2j
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
