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%. The global industrial packaging industry has witnessed high growth primarily because of the increasing demand for food & beverage and pharmaceutical products worldwide, especially during the COVID-19 pandemic. Demand for sustainable, and durable protective packaging for pharmaceutical industry is another key factor contributing towards the increasing growth of the industrial packaging market over the next few years.
In terms of both value and volume, corrugated boxes segment to lead the industrial packaging market by 2025. The corrugated boxes segment is expected to lead the global industrial packaging market by 2025.It is further projected to grow at the highest CAGR from 2020 to 2025.
The increase in the demand for corrugated boxes can be attributed to the rise in the demand for lightweight and convenient packaging solutions across end-use industries. The growth of the corrugated boxes segment will be supported by the increase in demand from the manufacturers in the food & beverage and pharmaceutical industries, and growth of the e-commerce sector during the forecast period.
In terms of both value and volume, pharmaceutical is projected to be the fastest-growing segment from 2020 to 2025, for industrial packaging.
Pharmaceutical is projected to be the fastest-growing segment in the industrial packaging market.The demand for industrial packaging in the pharmaceutical industry, is expected to remain robust as hospitals, drugs, and PPE manufacturers are responding to the crisis.
The demand for household essentials, healthcare, and medical goods is not expected to decrease dramatically, and retail distribution for these types of products through online delivery can be expected to increase.This in turn, boosts the demand for industrial packaging solutions for the timely delivery of raw materials and finished goods to their respective end users.
Hence, high demand is expected for industrial packaging in the pharmaceutical segment during the projected period.
In terms of both value and volume, the Asia Pacific industrial packaging market is projected to grow at the highest CAGR during the forecast period. In terms of value and volume, the Asia Pacific region is projected to grow at the highest CAGR from 2020 to 2025 due to the strong demand for the industrial packaging products from countries such as China, India, and Japan.Rising demand for food & horticulture, particularly in China and India, is expected to fuel the growth of the industrial packaging market in the region.
An increase in the usage of bulk packaging products for snacks, grains, and fresh produce, has resulted in high demand for industrial packaging in the food & beverage segment.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the industrial packaging market. •?By Company Type: Tier 1: 35%, Tier 2: 40%, and Tier 3: 25% •?By Designation: C-level: 40%, D-level: 35%, and Others: 25% •?By Region: North America: 20%, Europe: 35%, Asia Pacific: 25%, Middle East & Africa: 15%, and South America: 5%
The global industrial packaging market comprises major manufacturers, such as Greif Inc. (US), Amcor (Australia), Berry Global Inc. (US), Mondi (South Africa), Sonoco (US), International Paper (US), Orora Limited (Australia), Sigma Plastics Group (US), and Mauser Packaging Solutions (Germany).
Research Coverage The market study covers the industrial packaging market across various segments.It aims at estimating the market size and the growth potential of this market across different segments based on product type, material, application, and region.
The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the industrial packaging market.
Key Benefits of Buying the Report The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall industrial packaging market and its segments and sub-segments.This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
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