According to TechSci Research report, “Industrial Packaging Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Industrial Packaging Market stood at USD61.23 billion in 2022 and is anticipated to grow with a CAGR of 3.18% in the forecast period, 2023-2028. The initiatives taken by government based on industrial packaging has led to favorable market conditions for the Global Industrial Packaging Market. Several factors contribute to the growth of various industrial packaging products.
Governments worldwide are implementing a range of initiatives aimed at promoting sustainable packaging in order to effectively address pressing environmental challenges, such as the ever-growing issue of plastic waste. For instance, some cities and countries are not only introducing bans on certain types of plastic packaging but also actively encouraging the adoption of innovative recycling methods to ensure a more sustainable future.
In addition to the aforementioned sustainability initiatives, governments are recognizing the significance of investing in advanced manufacturing technologies to further strengthen their industrial sectors. Take the United States, for example, which has recently launched several strategic initiatives with the objective of expanding the manufacturing workforce and fortifying the semiconductor supply chain. One such initiative is the CHIPS+ program, which seeks to establish a comprehensive National Advanced Packaging Manufacturing Program aimed at solidifying American leadership in the highly competitive semiconductor packaging market. By doing so, the U.S. aims to foster innovation and secure long-term economic growth in this crucial sector.
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The market is experiencing significant growth, driven by a multitude of advancements that have revolutionized the packaging and transportation of products. These advancements have not only improved efficiency, sustainability, and product protection, but they have also introduced a range of innovative packaging materials that offer enhanced strength while simultaneously reducing weight. Consequently, this has resulted in reduced transportation costs and a lower environmental impact, serving as a major catalyst for market growth.
Furthermore, the integration of smart packaging technologies has further accelerated market expansion. The incorporation of sensors and radio frequency identification (RFID) tags enables real-time tracking, monitoring, and data collection of packaged goods throughout the entire supply chain. This enhanced visibility not only streamlines inventory management but also facilitates better quality control.
Moreover, the market growth is supported by the integration of automation and robotics in the packaging process. By leveraging robotic systems, complex packaging tasks such as palletizing and case packing can be handled with precision and efficiency. This integration not only boosts productivity but also minimizes errors, ensuring consistent packaging quality.
In summary, the market’s growth trajectory is driven by a combination of advancements in packaging and transportation, the utilization of smart packaging technologies, and the integration of automation and robotics. These factors collectively contribute to an increasingly efficient, sustainable, and dynamic market landscape.
The Global Industrial Packaging Market is segmented into pack type, application, regional distribution, and company.
Based on its application, the food & beverage segment held the largest share in the market. The focus on preserving food items and ensuring regulatory compliance for food packaging has been a key driver behind the growth of this segment in recent years. With consumers becoming more conscious about food safety and quality, the demand for packaging solutions that can effectively protect and extend the shelf life of food products has increased significantly.
Moreover, the convenience provided by industrial packaging in terms of food transportation has played a crucial role in the development of the food and beverages segment. Industrial packaging is specifically designed to be easy to handle, transport, and store, catering to the needs of food manufacturers, distributors, and retailers.
These packaging solutions often incorporate features such as handles, resealable closures, and stackability, making it more convenient for businesses to handle and transport large quantities of food products efficiently. This not only saves time but also minimizes the risk of damage during transit, ensuring that food products reach consumers in the best possible condition.
By addressing the growing demands for food safety, compliance, and convenience, the food packaging industry continues to thrive, playing a vital role in the overall success of the food and beverages sector.
Based on region, North America segment is expected to grow during the forecast period.
The industrial packaging market in the United States is thriving due to several key factors. Firstly, the presence of well-established industries provides a solid foundation for growth and innovation in packaging technologies. This allows for the development and implementation of advanced packaging solutions that cater to the specific needs of different sectors.
Additionally, the United States, being one of the largest economies globally, offers a vast market with immense potential. This creates opportunities for both existing and new market players to enter and contribute to the growth of the industrial packaging market.
Moreover, the US industrial packaging market is highly diverse, with a wide range of packaging solutions tailored to meet the unique requirements of various industries. From automotive and food and beverages to pharmaceuticals, chemicals, construction, electronics, and more, there is a demand for specialized packaging solutions that ensure product safety, efficiency, and sustainability.
In summary, the United States industrial packaging market stands as a significant segment within the global industrial packaging landscape. With its well-established industries, advanced packaging technologies, and diverse range of applications, it continues to drive growth and innovation in the packaging industry.
Major companies operating in Global Industrial Packaging Market are:
- WERIT Kunststoffwerke W. Schneider GmbH & Co.
- Mondi PLC
- Greif Inc.
- Global-Pak, Inc.
- Berry Global Inc.
- Smurfit Kappa Group PLC
- Tank Holding Corp.
- SCHÜTZ GmbH & Co. KGaA
- Amcor PLC
- Snyder Industries LLC
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“Growing application of industrial packaging in various end user industries are key drivers of the industrial packaging market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of industrial packaging with every passing year are anticipated to register an impressive growth to Global Industrial Packaging Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Industrial Packaging Market By Pack Type (Drums, Pails, IBCS, Sacks, Others), By Application (Chemical & Pharmaceuticals, Oil & Lubricants, Building & Construction, Food & Beverage, Automotive, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Industrial Packaging Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Industrial Packaging Market.
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