Overview and Scope
Industrial packaging refers to packaging that helps protect, ship, and store delicate items that rely largely on stability. It is frequently used by producers of machinery, particularly delicate equipment, technology, and other products that need to be protected from anything from moisture to vibrations.
Sizing and Forecast
The industrial packaging market size has grown strongly in recent years. It will grow from $74.35 billion in 2023 to $79.61 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to globalization of trade, rise in manufacturing activities, stringent regulations, e-commerce boom, focus on sustainability.
The industrial packaging market size is expected to see strong growth in the next few years. It will grow to $104.93 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to evolving consumer preferences, rise in online retail, customization and personalization, circular economy initiatives, rapid urbanization. Major trends in the forecast period include smart packaging technologies, technological innovations in packaging machinery, advancements in smart packaging, increased focus on lightweight packaging, regulatory compliance and safety standards.
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Segmentation & Regional Insights
The industrial packaging market covered in this report is segmented –
1) By Product: Drums, Intermediate Bulk Containers (IBCs), Sacks, Pails, Crates/Totes
2) By Material: Paperboard, Plastic, Metal, Wood, Fiber
3) By Application: Chemical And Pharmaceutical, Building And Construction, Food And Beverage, Oil and Lubricant, Agriculture And Horticulture, Others (Plastics And Rubber, Automobile, Engineering, And Other Metal Products)
North America was the largest region in the industrial packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
An increase in demand for food products across the globe is expected to propel the growth of the industrial packaging market. Demand for packaged foods is rising as a result of changes in consumer preferences, governmental regulations, and food storage. Many consumers now choose packaged food over unpackaged food as a result of the epidemic’s growing food safety issue. By assuring the safe storage and handling of food goods, packaging materials play a crucial role in supporting the food sector. According to the Bizom data, an India-based Retail intelligence platform, the sales of packaged food increased by 95% year on year a few weeks before the holiday season, due to rising out-of-home consumption and ready-to-eat products. Therefore, an increase in demand for food products across the globe will drive the growth of the industrial packaging market.
Key Industry Players
Major companies operating in the industrial packaging market report are Westrock Company, International Paper Company, Amcor Limited, DS smith plc, Packaging Corporation of America, Mondi plc, Grief Inc., KEENER Corporation, Nefab Group, Myers Industries Inc., Schoeler Allibert AB, Menasha Corporation, Rohrer Corporation, UFP Technologies Inc., Rehrig Pacific Company, Ckdpack, PolyFlex Products Inc., GWP Group, Brown Machine LLC, Dunnage Engineering, Thermoflex LLC, Amatech Inc., MJSolpac Ltd., Package Design & Manufacturing Inc., Interior Packaging Design LLC, JIDA Industrial Solutions, Sohner Plastics LLC, Great River Plastics LLC, Electro-General Plastics Corp. , Artisanz Fabrication and Machine LLC, Dordan Manufacturing Company, Salco Engineering and Manufacturing Co. Inc., Sonoco Products Company, Ball Corporation
The industrial packaging market report table of contents includes:
1. Executive Summary
2. Industrial Packaging Market Characteristics
3. Industrial Packaging Market Trends And Strategies
4. Industrial Packaging Market – Macro Economic Scenario
5. Global Industrial Packaging Market Size and Growth
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32. Global Industrial Packaging Market Competitive Benchmarking
33. Global Industrial Packaging Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Industrial Packaging Market
35. Industrial Packaging Market Future Outlook and Potential Analysis
36. Appendix
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