Industrial Packaging Market Size and Growth: 2023, Revenue Estimation and Regional Scope and Forecast to 2030 | Smurfit Kappa Group, Cascades Inc.

Global industrial packaging market was valued at US$ 68,677.9 Million in 2022, exhibiting a CAGR of 5.42%, in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 104,758.5 Million by 2030. Industrial goods are heavy, bulky, sensitive to external atmosphere, and environmentally hazardous. As a result, it is essential to maintain the product for a longer period of time during storage and transportation, especially with hermetically sealed packaging that is protected from external contamination. Industrial packaging differs from other types of packaging in its thickness, strength, and level of protection for long-term storage. The major factors that are expected to drive the market growth during the forecast period are rising building and construction activities in emerging economies particularly India and China, increase in the number of food and beverage industry to meet Population growth and rapid export growth necessitate higher packaging standards for the worldwide market.

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Competitor Analysis:

The significant players operating in the global Industrial Packaging market are

★ Smurfit Kappa Group
★ Cascades Inc.
★ Mauser Group B.V.
★ Grief Inc.
★ International Paper
★ Nefab Group
★ Schutz
★ Sonoco
★ AmeriGlobe
★ A.G. Corp

Market Segmentation -

This report has explored the key segments: by Type and by Application. The lucrativeness and growth potential have been looked into by the industry experts in this report. This report also provides revenue forecast data by type and by application segments based on value for the period 2023-2030.

By Product Type, the market is primarily segmented into:

✦ Drums
✦ IBC's
✦ Sacks
✦ Pails
✦ Crates
✦ Bulk Boxes
✦ Others

By Applications, the market is segmented into:

✦ Chemicals & Pharmaceuticals
✦ Food & Beverage
✦ Building & Construction
✦ Automotive
✦ Plastics & Rubber
✦ Agriculture and Horticulture
✦ Oil & Lubricants
✦ Electronics
✦ Engineering
✦ Metal Products
✦ Tobacco
✦ Others

This Report lets you identify the opportunities in Tube Packaging Market by means of a region:

⦿ North America (the United States, Canada, and Mexico)
⦿ Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
⦿ Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
⦿ South America (Brazil etc.)
⦿ The Middle East and Africa (North Africa and GCC Countries)

Global Industrial Packaging Market- Drivers

✤ High Demand for Intermediate Bulk Container across various End User Industries

High demand for intermediate bulk container across various end user industries is expected to drive the market growth of the industrial packaging. It is available in a variety of materials such as plastic, metal, paper, wood, and fiber. Intermediate bulk container has high demand from food &beverages industry, as it is used to transport bulk amount of food due to growing population around the globe. For instance, according to the SNS Insider reports, the Intermediate Bulk Container Market was valued at US$ 1300 million in 2022 and is projected to reach to US$ 1800 million by 2030, with a compound annual growth rate (CAGR) of 6.7% during the forecast period from 2023 to 2030.

✤ Emergence of Sustainable and Recyclable Packaging Materials

The trait of package design is sustainability. The environment benefits more from sustainable packaging. Due to concerns over the safe handling and recycling of packaging materials, new laws and policies requiring businesses to recover their packaging materials have been put in place. Consumer packaging materials was targeted because of the amount of packaging waste it produced. Governments and packaging associations are concerned about environmental effects of using commercial packaging. International packaging standards are different and are based on a range of laws. However, there is an enduring push for legislation requiring recyclable packaging and materials. For instance, Companies like Walmart and Coca-Cola are concentrated on packaging sustainability, as it is increasingly profitable change. By utilizing more resource-efficient designs, and recycled and renewable materials, the Coca-Cola Company has increased the sustainability of its packaging. This factor is expected to drive the global industrial packaging market growth during the forecast period.

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