Industrial packaging plays a critical role in the production and transportation of goods on a large scale, providing robust protection for various products. It serves as a primary packaging layer within industrial and manufacturing facilities, offering durable and heavy-duty solutions. With the need to safeguard goods throughout the supply chain, the industrial packaging market presents immense potential, ensuring secure and efficient handling of products at an industrial scale.
According to Data Bridge Market Research, the Industrial Packaging Market accounted for USD 21.46 billion by 2030, which was USD 14.19 billion in 2022, registering a CAGR of 5.30% during the forecast period of 2023 to 2030.
“Growing demand for food products”
The industrial packaging market is expected to experience growth globally, driven by the increasing demand for food products. Changing consumer preferences, food storage requirements, and governmental regulations are contributing to the rising demand for packaged foods. Packaging materials play a crucial role in ensuring the safe handling and storage of food products, making them essential for the food industry. As the demand for food products continues to increase, the industrial packaging market is poised to grow accordingly.
What restraints the growth of the industrial packaging market?
“Increasing worries about environmental pollution”
The global industrial packaging market growth may face challenges due to mounting environmental concerns worldwide. Industries like pharmaceuticals and food and beverages rely on bulk packaging, as a result, it generates significant waste, which increases awareness about environmental sustainability, furthermore, industries are looking for eco-friendly and sustainable packaging solutions. This need of reducing waste and adopt more environmentally friendly packaging practices poses a potential hurdle to the growth of the industrial packaging market.
Segmentation: Industrial Packaging Market
The industrial packaging market is segmented on the basis of product, material, packaging type, technology, and application.
- On the basis of product, the industrial packaging market is segmented into drums, ibcs, sacks, pails, crates/ totes, totes, corrugated box, others
- On the basis of material, the industrial packaging market is segmented into paper, cardboard, plastic, metal, wood, fiber
- On the basis of packaging type, the industrial packaging market is segmented into flexible, rigid.
- On the basis of technology, the industrial packaging market is segmented into injection molding, blow molding, extrusion, and thermoforming
- On the basis of application, the industrial packaging market is segmented into chemical, pharmaceutical, building and construction, food and beverage, petrochemical, automotive, personal care and cosmetics, building and construction, electronics, agriculture, furniture, textile, metal, others.
Regional Insights: North America is expected to dominate the Industrial Packaging Market
North America is poised to dominate the industrial packaging market due to its developed economy and robust transport and delivery infrastructure. The region's advanced logistical systems and adoption of robotic packaging technologies contribute to market growth.
Asia-Pacific is projected to be the fastest-growing region from 2023 to 2030, driven by the rising demand for ready-to-eat and convenience food products. The region's expanding original equipment manufacturer (OEM) and drug production sectors are expected to further fuel market growth.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-industrial-packaging-market
The Prominent Key Players Operating in the Industrial Packaging Market Include:
- DS Smith (U.K.)
- Mondi (U.K.)
- International Paper (U.S.)
- Sonoco Products Company (U.S.)
- Sealed Air (U.S.)
- Huhtamäki Oyj (Finland)
- Smurfit Kappa (Ireland)
- WestRock Company (U.S.)
- UFP Technologies Inc.(U.S.)
- Stora Enso (Finland)
- Pregis LLC (U.S.)
- Shenzhen Hoichow Packing Manufacturing Ltd. (China)
- Dordan Manufacturing Company (U.S.)
- Hangzhou Xunda Packaging Co. (China)
- Mosburger GmbH (Austria)
- Universal Protective Packaging Inc (U.S.)
- Parksons Packaging Ltd (India)
- Neenah Paper and Packaging (U.S.)
- Plastic Ingenuity (U.S.
- JJX-Packaging (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of industrial packaging market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Industrial Packaging Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
