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.
Browse 141 market data tables and
46 figures spread through 197 pages and in-depth TOC on "Industrial
Packaging Market by Product type, Material (Paperboard, Plastic, Wood, Metal),
Application (Food & Beverage, Building & Construction, Pharmaceutical,
Chemical, Automotive, Oil & Lubricant) and Region - Global Forecast to
2025"
According to the European Industrial Packaging
Association (EIPA), “Industrial Packaging is, first and foremost, designed and
manufactured to offer protection to the products during each phase of
production operations such as storage and transport of spare parts,
semi-finished and finished products. It is manufactured for numerous
industries, such as chemical, automotive and food industries. Industrial
packaging is especially suited for heavy, bulky or large goods and hazardous
materials.”
The industrial packaging market has thousands of companies which
thrive in their domestic market. A few of the major players are, Greif Inc.
(US), Amcor (Australia), Berry Global Inc. (US), Mondi (South Africa) and
Sonoco (US). These players have adopted various growth strategies, such as
acquisitions, expansions & investments, new product developments, and
agreements to increase their market shares and enhance their product
portfolios.
Expansions and investments accounted for the largest share of
all the strategic developments that took place in the industrial packaging
market between 2016 and 2020. Key players such as Greif Inc. (US), and Mauser
Packaging Solutions (Germany) adopted these strategies to enhance their market
presence and strengthen their manufacturing and distribution capabilities in
the industrial packaging market.
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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 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.
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