Industrial Packaging Market A Look at the Major Applications and Technologies Analysis Report Prediction for 2030

High pack size optimization and rising demand for industrial packaging are major factors driving market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, February 7, 2023 /EINPresswire.com/ -- Emergen Research's new report, titled 'Global Industrial Packaging Market,' is methodically curated by our team of analysts with readers' comprehension in mind, and includes a comprehensive database of industry distribution. The report examines historical and current market scenarios in order to forecast the global Industrial Packaging Market outlook over the forecast period (2022-2030). Researchers took a comprehensive approach to global market analysis, highlighting the factors that influence the market's overall growth. The research employs effective analytical tools such as SWOT analysis and Porter's Five Forces to examine the strengths, weaknesses, opportunities, and threats associated with the growth of various market segments.

According to the most recent analysis by Emergen Research, the size of the worldwide industrial packaging market reached USD 61.48 billion in 2021 and is projected to grow at a revenue CAGR of 4.6% during the forecast period. Some of the key reasons propelling market revenue development include the optimization of shipping container size, expanding industrial packaging use due to a demand for large online orders of various products, and the requirement for more durable packaging for particular items and products.

A wide variety of products are packaged in bulk, shipped, and stored and a number of products require robust packaging to prevent damage, contamination, and exposure to the elements. Industrial packaging includes specialized, heavy duty packaging that is ideal for enhanced protection during transporting or shipping, and while products are in storage or delivered. Increasing focus on ensuring bulk product safety, deter pilferage or tampering, and to prevent damage and potential losses are major factors driving revenue growth. Industrial packaging is widely used in manufacturing plants or industrial facilities to package new equipment, electrical components, accessories, parts and components, and bulk packaging of similar products for transportation and delivery. Industrial packaging is also used at any phase through the supply chain depending on the products, type of product, weather conditions, and/or mode of transportation, shipping, and delivery. Increasing demand and supply of products such as lubricants, oils, chemicals, and others is driving need for more robust, sturdy, and importantly – safe – packaging to ensure safe passage along the supply chain.

However, recycling and rising environmental concerns regarding disposal of industrial packaging waste and some materials such as plastics used in the industry are expected to hamper market revenue growth to some extent during the forecast period. Also, some materials such as wood may not be the best for transporting certain products. Wood can develop fungal or bacterial growth if untreated or old, and if being reused. Also, hard and rough surfaces may not be kind to products such as vegetables and fruits. These are some factors that are resulting in reluctance to use some low-cost industrial packaging options, which is restraining market revenue growth.

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Competitive Terrain:

The global Industrial Packaging industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

Leading Market Players Profiled in the Report:

Greif, Inc., Sonoco Products Company, Berry Global Inc., Amcor plc, Mondi, WestRock Company, Orora Packaging Australia Pty Ltd., BWAY Corporation, Snyder Industries, and Chem-Tainer Industries

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Some Key Highlights from the Report

By product type, the corrugated boxes segment accounted for largest revenue share in 2021. Corrugated boxes are widely preferred across a wide variety of end-use applications and sectors, including food & beverages, pharmaceutical, and automotive industries, among numerous others. High preference due to simple solution, low-cost, and lightweight properties are key factors expected to continue to drive revenue growth of the segment going ahead.

By application, the food & beverage segment accounted for largest revenue share in 2021, owing to bulk stocking by a number of panicked consumers during the COVID-19 pandemic. Essential commodities such as Fast-moving Consumer Goods (FMCG), packaged meals, and fresh food via e-Commerce platforms witnessed a rapid rise, and this was true even for bulk ordering. In addition, increasing number of companies and individuals making bulk purchases online is expected to support revenue growth of this segment.

Industrial packaging market in North America is expected to register a significantly fast revenue CAGR over the forecast period as major market players in industrial packaging such as Amcor Ltd., Mondi PLC, and others, are investing in Research and Development (R&D) and innovation in more innovative industrial materials and techniques.

Key market aspects studied in the report:

Market Scope: The report explains the scope of various commercial possibilities in the global Industrial Packaging market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.

Competitive Outlook: The leading companies operating in the Industrial Packaging market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.

Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Industrial Packaging market.

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Market Overview:

The report bifurcates the Industrial Packaging market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

Product Type Outlook (Revenue, USD Billion; 2019–2030)

Drums

Intermediate Bulk Container (IBC)

Sacks

Pails

Crates

Corrugated Boxes

Others

Technology Outlook (Revenue, USD Billion; 2019–2030)

Injection Molding

Extrusion

Blow Molding

Thermoforming

Others

Application Outlook (Revenue, USD Billion; 2019–2030)

Chemical

Pharmaceutical

Food & Beverage

Building & Construction

Automotive

Oil & Lubricant

Others

Regional Outlook:

North America (the U.S., Canada, Mexico)

Europe (the U.K., Germany, France, Italy)

Asia Pacific (India, China, Japan, Korea)

Latin America (Brazil, Argentina, Ecuador, Chile)

Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)

Key reasons to buy the Global Industrial Packaging Market report:

The latest report comprehensively studies the global Industrial Packaging market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.

The report offers an insightful analysis of the regional outlook of the market.

It offers a detailed account of the end-use applications of the products & services offered by this industry.

The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

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