The global Industrial Packaging market size is projected to reach US$ 66090 million by 2026, from US$ 49000 million in 2019, at a Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period 2021-2026. The Industrial Packaging Market is predicted to increase due to rising demand in end-use sectors such as food and beverage and pharmaceuticals. Furthermore, since people are unable to leave their houses due to lockdown restrictions, they must obtain daily necessities through online platforms, resulting in an increase in demand for bulk industrial packaging solutions and services.
A growth in modern retailing, high consumer income, and an acceleration in industrial activity, particularly in emerging nations, are predicted to propel the industrial packaging market forward throughout the forecast period.
The industrial packaging market is predicted to rise due to increased demand from the chemical and construction industries. As the output and trade of chemicals and petroleum products has expanded, so has the demand for bulk packaging. Industrial packaging companies offers packaging services for the building and construction industries, as well as the chemical industry. Increased trade between countries and the safe passage of products has led in a greater demand for effective industrial packaging from the chemical and construction industries. Increased demand from the chemical and petroleum sectors is a major driver for the industrial packaging industry.
Furthermore, the industrial packaging market is predicted to grow as emerging economies increase their demand for industrial packaging. The industrial packaging market in emerging countries is expected to grow rapidly over the forecast period due to increased population and currency rates. The market's growth has been supported by strong production and consumption of bulk packaging products in economies such as China and India, which have experienced consistent demand from important consumers.
The government and packaging organisations have begun to address the environmental impacts of industrial packaging. The standards for international packaging vary and are based on a variety of rules. The majority of the mandatory criteria are currently voluntary. However, there is a constant push for more durable packaging and recyclability. This is projected to provide lucrative growth possibilities for industrial packaging market participants throughout the forecast period.
The food and beverage category is likely to be the most lucrative during the forecast period. Packaging is crucial because most food and beverage products have a short shelf life. Improved supply chain operations and rising demand for critical items are driving the food and beverage market.
Due to increasing demand for industrial packaging from the food and beverage and pharmaceutical industries in the region, Europe is likely to be the most lucrative market over the projection period.
The Key manufacturers that are operating in the global Industrial Packaging market are:
|
Report Metric |
Details |
|
Report Name |
Industrial Packaging Market |
|
The market size in 2019 |
USD 49000 Million |
|
The revenue forecast in 2026 |
USD 66090 Million |
|
Growth Rate |
Compound Annual Growth Rate (CAGR) of 4.3% from 2021 to 2026 |
|
Market size available for years |
2021-2026 |
|
Forecast units |
Value (USD) |
|
Segments covered |
Type, End-User, Offerings, and Region |
|
Report coverage |
Revenue & volume forecast, company share, competitive landscape, growth factors, and trends |
|
Geographic regions covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Ans. The global Industrial Packaging market size is projected to reach US$ 66090 million by 2026, from US$ 49000 million in 2019, at a Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period 2021-2026.
Ans. North America was the largest market share, in terms of revenue generation.
Ans. By Application, The food and beverage category is likely to be the most lucrative during the forecast period.
Ans. The key players in the Industrial Packaging industry profiled in the report are Amcor, Grief, International Paper, Nefab, Schutz, Sonoco, Chem-Tainer Industries, CorrPak Bulk Packaging Systems, East India Drums & Barrels Manufacturing, Hoover Container Solutions, Intertape Polymer Group, Jumbo Bag, LC Packaging, Remcon Plastics RDA Bulk Packaging, Snyder Industries, Taihua Group, Ven Pack, Others
Ans. The Industrial Packaging Market is predicted to increase due to rising demand in end-use sectors such as food and beverage and pharmaceuticals.
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