Industrial Packaging Market

Industrial Packaging market was estimated at USD 61.9 Billion in 2020, and it is projected to grow at a CAGR of 3.9% and will reach 84.1 Billion in 2028.

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Market Dynamic

Key Drivers and Emerging Trends

The growing use of industrial packaging across healthcare, food & beverage, cosmetic end-use industries to protect manufactured goods and ensure product quality, stands to be a major factor driving the industrial packaging market growth. Other factors such as rising per capita income, increasing industrialization, and expansion across chemical and petroleum sectors will fuel the market growth in the upcoming years. Moreover, better resistance and thickness of industrial packaging over other packaging types has propelled the market growth, owing to the ability to protect manufactured goods from unfavorable environmental conditions. Ongoing technological innovations in industrial packaging, such as the advent of bioplastics, digital printing and automation have augmented the Industrial Packaging Market size. Rising export activities have stimulated the need for high-quality packaging to meet the standards of international market, contributing to the market’s growth.
However, factors like less penetration of industrial packaging market in the developed nations, reduced profit margins, and stringent norms regarding the use of unstable prices will restrain the market growth. Also, with the growing environmental concerns, government agencies have encouraged the use of biodegradable products such as PHA and PLA plastic.

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Product Type – Segment Analysis

Corrugated boxes segment is predicted to witness a faster CAGR over the forecast period, due to their growing demand across pharmaceuticals, automotive, and food & beverage industries. Further, rising demand for lightweight and convenient packaging solutions have bolstered the demand for corrugated boxes.

Application – Segment Analysis

Food & Beverage segment is expected to hold the largest share over the forecast period, owing to the rapid urbanization. Also, food and beverage industry needs to be packaged with thermal liners owing to the chances of deterioration from temperature and ultra violet rays, driving the segment’s size.

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Regional – Segment Analysis:

Asia-Pacific region is forecast to emerge as the fastest-growing nation during the forecast period, due to the rising demand for processed and ready-to eat food items. Factors such as accelerating working population, advent of fourth industrial revolution, and rising manufacturing activities will add to the market growth. Moreover, growing demand for industrial packaging in chemical, construction, and pharmaceutical products owing to their cost-efficiency, durability, lighter-weight, and safety is anticipated to boost the market growth over the coming years.

Top Market Players

Various notable players operating in the market include Greif, Amcor plc, Berry Global Inc., Mondi, Sonoco Products Company, International Paper, Orora Packaging Australia Pty Ltd, Sigma Plastics Group, Mauser Packaging Solutions, BAG Corp, among others.

Key Developments:

• • In 2020, Mauser Packaging Solutions procured EuroVeneta Fusti through Joint Venture NCG-Maider in Italy. This collaboration is expected to expand the company’s footprint in Italy and extended the offering of current plastic industrial packaging along with steel drum packaging and reconditioning IBC services within the Italian market.
  • In 2020, Mauser Packaging Solutions launched a new 1-piece consumer pack. This product is ideal for use in industries like home care, candy and confection, pool care, and food products. Furthermore, post its use, the package is 100% recyclable or can be reused by the consumer.
  • In 2020, Greif procured a minority stake in Centurion Container LLC to expand its intermediate bulk container (IBC) reconditioning network in North America. The investment in Centurion Container LLC is expected to improve the company’s IBC and IBC reconditioning businesses.

Segments covered in the Report:

The global Industrial Packaging market has been segmented on the basis of Product Type, Material, Application, and regions. Based on Product Type, the market is segmented into Drums, IBCs, Sacks, Crates, Pails, Corrugated boxes and Others. Based on Material, the market is segmented into Plastic, Wood, Metal  and Paperboard. Based on Application, the market is segmented into Food & beverage, Automotive, Pharmaceutical, Chemical, Oil & Lubricant, Building & Construction and Others. 

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Key questions answered in this research report:

• • At what pace is global Industrial Packaging market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Industrial Packaging market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Industrial Packaging market?
  • Which Product Type generated maximum revenues in 2020 and identify the most promising Product Type during the forecast period?
  • What are the various Material areas of global Industrial Packaging market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Industrial Packaging Market by Product Type

• • Drums
  • IBCs
  • Sacks
  • Crates
  • Pails
  • Corrugated boxes
  • Others

Global Industrial Packaging Market by Material

• • Plastic
  • Wood
  • Metal
  • Paperboard

Global Industrial Packaging Market by Application

• • Food & beverage
  • Automotive
  • Pharmaceutical
  • Chemical
  • Oil & Lubricant
  • Building & Construction
  • Others

Global Industrial Packaging Market by Region

• • North America Industrial Packaging Market (Option 1: As a part of the free 25% customization)
    • By Product Type
    • By Material
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Industrial Packaging Market (Option 2: As a part of the free 25% customization)
    • By Product Type
    • By Material
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Industrial Packaging Market (Option 3: As a part of the free 25% customization)
    • By Product Type
    • By Material
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Industrial Packaging Market (Option 4: As a part of the free 25% customization)
    • By Product Type
    • By Material
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Industrial Packaging (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Greif
  • Amcor plc
  • Berry Global Inc.
  • Mondi
  • Sonoco Products Company
  • International Paper
  • Orora Packaging Australia Pty Ltd
  • Sigma Plastics Group
  • Mauser Packaging Solutions
  • BAG Corp