The global industrial packaging market accounted for a value of 57.7 billion in 2019. Industrial Packaging market projected to register growth at a CAGR of 3.5% during forecast period.
COVID-19 has impacted all the businesses over the globe. The industrial packaging market will witness moderate decline due to outbreak of corona virus in the year 2020-2021. There is a decline in various end-user industries such as agriculture, construction and chemicals industries due to which there is a decline in demand of industrial packaging market. The market for industrial packaging market will witness significant growth for pharmaceutical and food & beverage industry during COVID-19.
For more details, visit: Global Industrial Packaging Market By Product Type (Drums, Sacks, Others), By Material (Metal, Plastic, others), By End User (Oil & Lubricant, Building & Construction, others), By Region–Forecast & Opportunities to 2026
The demand for industrial packaging is increasing across the world due to rise in production in many industries. The trade of various products such as petroleum and chemicals products is increasing which increases the demand for industrial packaging.
On the basis of product type, the industrial packaging market is segmented into drums, sacks, crates, IBCs, pails corrugated boxes and others. The corrugated boxes segment is estimated to hold largest market share during forecast period. The demand of corrugated boxes segment is increasing across various applications such as automotive, pharmaceutical and food and beverages. The demand for convenient and lightweight packaging is increasing around the world which increases demand for corrugated boxes segment during forecast period.
On the basis of application, the industrial packaging market is segmented into automotive, food & beverage, pharmaceutical, chemical, oil & lubricant, building & construction and others. The food & beverages application segment is estimated to hold largest market share during forecast period. Due to lockdown, people are stocking food and buying food in bulk. People are ordering FMCG, fresh food and daily staples through online channels and e-commerce. This has increased the demand for packaging in food & beverages industry during forecast period.
On the basis of material, the industrial packaging market is segmented into metal, plastic, paper, wood and fiber. The plastic material segment is estimated to hold largest market share during forecast period. The plastic is use at large scale across the globe due to its benefits such as durability and low weight. The plastic packaging is very much convenient and the demand for such packaging is higher across various end-users industry. This drives growth in plastic material segment during forecast period.
Asia-Pacific region is estimated to hold largest market share during forecast period. The demand for convenient and ready-to-eat food products is increasing this region due rise in income level of population and rise working population across the region. The industrial packaging market is growing across various end-user industries such as automotive, construction, chemical and pharmaceuticals. The industrial packaging offers various benefits such as durability, cost-effectiveness, safety and low weight which increases demand for such packaging across end-user industries in this region. This drives growth Asia-Pacific region during forecast period.
The key market players in industrial packaging industry are Amcor, Sonoco, Mondi, Berry Global Inc., Greif Inc., International Paper, orora Ltd., Sigma Plastics Group, Mauser Packaging solutions, Taihua Group, Snyder Industries, Ven Pack, Chem-Tainer Industries, Myers Container and B.A.G. Corp.
- What are the expected industry trends over the next three to five years?
- Which of the industrial packaging product type is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?