Industrial Packaging Market Innovations: Navigating the Future of Sustainable Solutions

 

Industrial packaging products are used to pack industrial goods and equipment safely and securely during storage, transportation and distribution. They include drums, pails, crates, boxes and others which provide protection from damages, contamination and handling problems. These packaging solutions ensure safety of products during complex supply chains.

The global Industrial Packaging Market is estimated to be valued at US$ 68,677.9 Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the industrial packaging market is increasing focus on sustainable packaging solutions. With growing awareness about plastic waste and its adverse impact on environment, packaging manufacturers are developing bio-based and eco-friendly packaging options. For example, they are using recycled plastics, bioplastics, paper-based packaging and reusable or returnable packaging containers to reduce plastic usage. Many companies have set ambitious sustainability targets to use recycled content in their products and make their packaging reusable or recyclable by certain timeline. This shift towards sustainable packaging will drive the demand for green industrial packaging solutions in coming years.


Segment Analysis
The industrial packaging market is segmented by product type and end use industry. By product type, the market is dominated by containers segment owing to its wide scale use across industries for safe transportation and storage of industrial goods. Metal, glass and plastic containers find extensive demand from industries such as food & beverages, building & construction and chemical industries among others due to their durability and reuse properties.

Key Takeaways
The global industrial packaging market is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period, due to increasing demand from end use industries such as food & beverages, building & construction and chemicals among others.

Regional analysis
North America dominates the global industrial packaging market currently, owing to presence of large manufacturing sector in the US and Canada. Asia Pacific is expected to exhibit fastest growth over forecast period with China and India emerging as high growth markets. Rapid industrialization and growing manufacturing output in Asia Pacific economies is driving the demand for industrial packaging in the region.

Key players
Key players operating in the industrial packaging market are Smurfit Kappa Group, Cascades Inc., Mauser Group B.V., Grief Inc., International Paper, Nefab Group, Schutz, Sonoco, AmeriGlobe, and B.A.G. Corp. Among these, Smurfit Kappa Group, International Paper and Mauser Group B.V. have significant market share owing to their wide product portfolio and global presence.

*Note:

1.Source: Coherent Market Insights, Public sources, Desk research

2.We have leveraged AI tools to mine information and compile it


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