The global
industrial packaging market
size is projected to grow from USD 58.8 billion in 2020 to USD 72.6 billion by
2025, at a Compound Annual Growth Rate (CAGR) of 4.3% during the forecast year.
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Food & beverage is estimated to
be the largest segment in the industrial packaging market in 2019.
Food & beverage, by application,
accounted for the largest demand for industrial packaging in 2019, in terms of
value and volume. This dominant market position is attributed to the boost in
the demand for industrial packaging solution across the food & beverage
industry. People are resorting to panic-buying and bulk stocking due to the
fear of lockdowns, in COVID-19 pandemic. More people are ordering daily staples
and fresh food through online channels, which leads to an increase in the
demand for bulk industrial packaging solutions.
The APAC region is projected to
account for the largest share in the industrial packaging market during the
forecast period.
The APAC region is projected to lead
the industrial packaging market, in terms of both value and volume from 2020 to
2025. Higher domestic demand, along with the availability of low-cost labor,
makes this region the most attractive market for industrial packaging
producers. Hence, the market players are focusing on this region to gain a
larger share and increase their profitability. Factors such as improving global
economy, expanding working population, and rising domestic demand for food and
pharmaceutical products are expected to boost the market for industrial
packaging.
Greif Inc. (US), Amcor (Australia), Berry Global Inc. (US), Mondi (Austria), Sonoco (US), and Mauser Packaging Solutions (Germany) are the key players operating in the industrial packaging market. Expansions & investments, acquisitions, agreements, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the industrial packaging market.
Greif Inc. (Grief) is a key
manufacturer of industrial packaging products & services, and it offers a
range of industrial packaging products such as plastic drums, steel drums,
fibre drums, reconditioned containers, intermediate bulk containers, flexible
products, uncoated recycled paperboard, containerboard, coated recycled
paperboard, tubes and cores. The company through its strategic developments
aims to strengthen its customer base and product offering globally.
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Berry Global Inc. is one of the key
manufacturers and suppliers of a range of rigid and flexible industrial
packaging products. Berry Global focuses on expanding its customer base in
various regions by offering attractive products for industrial packaging. The
company emphasizes on delivering high-quality tailor-made solutions to its
customers and on manufacturing products that are designed using the latest
unique manufacturing technologies. The company adopts various strategic
initiatives to expand and accelerate its market presence and strengthen its
customer base across the world.
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