Industrial packaging Market Size, Share, Growth | Report, 2028

 The Industrial Packaging Market was estimated around USD 61.9 billion in 2020, and is expected reach USD 84.1 Billion by the end of 2028, growing at a CAGR of 3.9% over the forecast period (2021-2028).

The factors driving the growth of Industrial Packaging Market includes increasing application of industrial packaging solutions across end-use industries such as healthcare, food & beverage and cosmetic, rise in the number of Free Trade Agreements between Governments of different countries and growing use of shipping containers to protect industrial equipment. Moreover, technological advancements in packaging solutions, rise in the launch of new products, strategic mergers, and acquisitions between industry players, growing demand for ready-to-eat & convenience food products and rapid industrialization, are some of the additional factors supplementing the market growth. In addition, increasing investments by major corporations on research and development, growing adoption of industrial drums in packaging industry and rising disposable incomes, are further contributing towards the market growth.

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However, growth of Industrial Packaging Market is hindered attributed to variations in the prices of raw materials.

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

Based on Product Type, the Corrugated Boxes segment is predicted to expand at a significant CAGR during the forecast period

Increasing demand for corrugated boxes in the end-use industries such as automotive, and food & beverage, is propelling the Industrial Packaging Market size.

Based on Application, the Food & beverage segment is projected to dominate the market over the forecast period

Rising trend of bulk-purchasing during lockdowns and increasing orders of daily staples and FMCG related products through e-commerce platforms, are pushing growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period

As per the Industrial Packaging Market Forecast, growing demand for ready-to-eat food products, rise in the number of Free Trade Agreements (FTAs), increased adoption of advanced technologies by manufacturers, rapid industrialization, and high population growth rates, are some of the additional factors augmenting the market growth in Asia-Pacific region.

Key Developments

  • In 2020, Mauser Packaging Solutions, through its joint venture acquired EuroVeneta Fusti, this acquisition will expand company’s foothold in Italy and extend 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 introduced 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.
  • In 2020, Greif acquired a minority stake in Centurion Container LLC to extend its intermediate bulk container (IBC) reconditioning network in North America. The investment in Centurion Container LLC will improve company’s IBC and IBC reconditioning businesses.

Market Segmentation

Segmentation by Product Type

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

Segmentation by Material

  • Plastic
  • Wood
  • Metal
  • Paperboard

Segmentation by Application

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

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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