IMARC Group, a leading market research company, has recently releases report titled “Industrial Packaging Market Report by Product (Intermediate Bulk Containers (IBCs), Sacks, Drums, Pails, and Others), Material (Paperboard, Plastic, Metal, Wood, Fiber), Application (Chemical and Pharmaceutical, Building and Construction, Food and Beverage, Oil and Lubricant, Agriculture and Horticulture, and Others), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the global industrial packaging market share.
How Big Is the Industrial Packaging Market?
The global industrial packaging market size reached US$ 62.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 83.4 Billion by 2032, exhibiting a growth rate (CAGR) of 3.3% during 2024-2032.
Factors Affecting the Growth of the Global Industrial Packaging Industry:
- Expanding E-commerce Industry:
The rapid expansion of the e-commerce industry is influencing the industrial packaging market. As online shopping gains popularity, the need for durable and reliable packaging solutions is contributing to the market growth. Additionally, the rising demand for industrial packaging stems from the necessity to ensure products reach consumers in pristine condition, thus accelerating the market growth. It focuses on materials that can withstand shocks, vibrations, and changes in environmental conditions encountered during transit. Furthermore, e-commerce companies are seeking smart packaging solutions that incorporate quick response (QR) codes and radio-frequency identification (RFID) tags to streamline the tracking and management of shipments which enhances consumer satisfaction through improved product integrity and drives efficiency in the logistics sector.
- Significant Advancements in Packaging Materials and Technology:
The industrial packaging market is witnessing significant advancements in materials and technology, aiming to develop packaging solutions that are lighter, stronger, and more environmentally friendly. Additionally, various innovations in material science have led to the creation of packaging materials that offer enhanced protection for goods while being lighter in weight, which significantly reduces transportation costs and carbon footprint. For instance, the development of high-strength, lightweight corrugated cardboard and plastics with improved barrier properties extends the shelf life of products and reduces damage during shipping. Moreover, the market extensively uses biodegradable and recyclable materials, driven by increasing regulatory pressures and consumer demand for sustainable products.
- Growing Healthcare and Pharmaceuticals Sector:
The healthcare and pharmaceuticals sectors are experiencing rapid growth, driven by rising health crises and growing geriatric population. In addition, it requires specialized packaging solutions designed to ensure the safe and secure transport of medical and pharmaceutical products. Moreover, packaging in this sector must meet stringent regulatory standards to maintain the integrity and efficacy of products, which often require controlled environments to remain stable. Along with this, various innovations include the development of tamper-evident seals, child-resistant closures, and advanced barrier materials that protect sensitive products from moisture, oxygen, and light. Also, the rise of cold chain logistics for temperature-sensitive products has led to the adoption of advanced packaging technologies capable of maintaining specific temperature ranges throughout the transportation process.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/industrial-packaging-market/requestsample
Leading Companies Operating in the Global Industrial Packaging Industry:
- Amcor plc
- Berry Global Inc.
- DS Smith PLC
- Global-Pak Inc.
- Greif Inc.
- International Paper Company
- Mondi plc
- Nefab AB
- Orora Limited
- Smurfit Kappa Group plc
- Sonoco Products Company
- Westrock Company
Industrial Packaging Market Report Segmentation:
By Product:
- Intermediate Bulk Containers (IBCs)
- Sacks
- Drums
- Pails
- Others
By product, the market is categorized into intermediate bulk containers (IBCs), sacks, drums, pails, and others.
By Material:
- Paperboard
- Plastic
- Metal
- Wood
- Fiber
Plastic dominates market growth due to its durability, cost-effectiveness, and versatility in various packaging applications
By Application:
- Chemical and Pharmaceutical
- Building and Construction
- Food and Beverage
- Oil and Lubricant
- Agriculture and Horticulture
- Others
By application, the market is classified into chemical and pharmaceutical, building and construction, food and beverage, oil and lubricant, agriculture and horticulture, and others.
Regional Insight:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific’s market growth is attributed to the largest market share, driven by rapid industrialization, increasing manufacturing activities, and the growing demand for industrial packaging in countries such as China and India.
Global Industrial Packaging Market Trends:
At present, the growing demand for sustainable packaging solutions minimizes environmental impact including the use of recyclable materials, biodegradable plastics, and designs that reduce the overall use of materials. In addition, the integration of smart technologies such as Internet of Things sensors, QR codes, and RFID tags in packaging allows for improved tracking, quality control, and supply chain management.
Besides this, as manufacturers seek to cater to specific product needs and logistical requirements, the demand for customizable and flexible packaging solutions is increasing pushing companies to offer tailored options in terms of size, strength, and functionality. Furthermore, companies are navigating a complex landscape of regulations concerning safety, sustainability, and international trade, influencing packaging designs and materials to ensure compliance.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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