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Industrial Packaging Market is projected to grow 93.28 Billion by 2026
[168 Pages Report] The market for industrial packaging is estimated to grow from USD 54.94 Billion in 2016 to reach USD 93.28 Billion by 2026, at a CAGR of 5.4%.
The market for "Industrial Packaging" is growing due to increasing trends in parent industries such as construction, automotive, food & beverages, chemical, and, oil & lubricant. Industrial packaging involves protected storage, transporting, and handling of goods in large quantities from manufacturing centers to distribution centers where they are packaged for the end customers.
Plastic packaging sacks are replacing paper and jute packaging because of their versatile properties such as flexibility, durability, lightweight, and low cost. Moreover, plastic is suitable for all types of packaging products including food, chemicals, and fertilizers. The demand for plastic packaging is on the rise because of the increasing demand for convenience food from consumers across the globe.
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Industrial packaging is widely used in the chemical and pharmaceutical sectors wherein a majority of low volume chemical products are packed in sacks. Also, due to the increase in aging population and growing occurrences of chronic diseases, the use of industrial bulk packaging in pharmaceuticals is also increasing. The food & beverages segment is projected to grow at the highest rate.
- Demographic Trends
- Increasing R&D Investment
- Emerging Economies
- Rising Demand for Packaging in Major Asian Markets Such as India and China
- Strong Demand From the Food & Beverage Packaging Industry
- High Optimization in Pack Size
- Safety Regulations
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[168 Pages Report] The market for industrial packaging is estimated to grow from USD 54.94 Billion in 2016 to reach USD 93.28 Billion by 2026, at a CAGR of 5.4%. The base year considered for the study is 2015 and the market size is projected from 2016 to 2021 (mid-term) and 2016 to 2026 (long term).
Companies such as Grief Inc. (U.S.), Mondi Plc (South Africa), Amcor Limited (Australia), WestRock (U.S.), International Paper Co. (U.S.), Bemis Company Inc. (U.S.), Orora Group (Australia), Mauser Group (Germany), Sigma Plastics Group (U.S.), and Wuxi Sifang Drums Company (China) were the key players who adopted these strategies to expand their businesses globally.
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