Industrial Packaging Market Size, Regional Outlook, Competitive Landscape, Revenue Analysis & Forecast Till 2030
According to Emergen Research, the global industrial packaging market is expected to reach USD 61.48 billion in 2021, with a revenue CAGR of 4.6% during the forecast period. Some of the major factors driving market revenue growth are optimization of shipping container size, increased adoption of industrial packaging due to rising preference for bulk online orders of various products, and the need for more robust packaging for specific items and products.
Increased production and trade of products, such as chemicals and petroleum products, has increased demand for bulk packaging and crates/totes. Industrial packaging companies serve a variety of end-use industries, including building and construction and chemical. Growing international trade and the safe transportation of goods increase the demand for effective industrial packaging from these industries. The increase in demand from the chemical and petroleum industries is a significant growth driver in the industrial packaging market.
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Greif, Inc., Sonoco Products Company, Berry Global Inc., Amcor plc, Mondi, WestRock Company, Orora Packaging Australia Pty Ltd., BWAY Corporation, Snyder Industries, and Chem-Tainer Industries.
Emergen Research has segmented the global industrial packaging market on the basis of product type, technology, application, material, and region:
Product Type Outlook (Revenue, USD Billion; 2019–2030)
Intermediate Bulk Container (IBC)
Technology Outlook (Revenue, USD Billion; 2019–2030)
Application Outlook (Revenue, USD Billion; 2019–2030)
Food & Beverage
Building & Construction
Oil & Lubricant
Material Outlook (Revenue, USD Billion; 2019–2030)
Some Key Highlights from the Report
By product type, the corrugated boxes segment accounted for largest revenue share in 2021. Corrugated boxes are widely preferred across a wide variety of end-use applications and sectors, including food & beverages, pharmaceutical, and automotive industries, among numerous others. High preference due to simple solution, low-cost, and lightweight properties are key factors expected to continue to drive revenue growth of the segment going ahead.
By application, the food & beverage segment accounted for largest revenue share in 2021, owing to bulk stocking by a number of panicked consumers during the COVID-19 pandemic. Essential commodities such as Fast-moving Consumer Goods (FMCG), packaged meals, and fresh food via e-Commerce platforms witnessed a rapid rise, and this was true even for bulk ordering. In addition, increasing number of companies and individuals making bulk purchases online is expected to support revenue growth of this segment.
Industrial packaging market in North America is expected to register a significantly fast revenue CAGR over the forecast period as major market players in industrial packaging such as Amcor Ltd., Mondi PLC, and others, are investing in Research and Development (R&D) and innovation in more innovative industrial materials and techniques.
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