Industrial Packaging Market To Power And Cross USD 72.7 Billion By 2031

The global industrial packaging market will grow from USD 58.1 billion in 2020, to USD 72.7 billion in 2025. This is a 4.3% annual growth rate from 2020-2025. The future growth of the industrial packaging market is likely to be driven by increased demand in the end-use industry, such as food & beverages and pharmaceutical. The growth of industrial packaging will be supported by the rising popularity of modern retailing, increased consumer income, and an acceleration in industrial activities, particularly in emerging economies.

Industrial packaging market growth is highly dependent upon end-use industries. Looking at the current trends, we can see that the demand for food, beverages, and pharmaceuticals is growing very quickly, which in turn means that packaging is also on the rise.

Driving Factors

Market growth will be driven by the growth of import and export activities around the globe. Shipping containers are used to transport industrial equipment safely and can be moved easily from one location to the next. The growth in international trade and construction are other factors that drive market growth. Global market leaders are expected to make the largest profits from the food and beverage sector. The market will grow due to the increasing demand for practical packaging solutions. Corrugated boxes are seeing an increase in demand due to lightweight and simple-to-use packaging options.

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Restraining Factors

There will be a limit to the growth of the industrial packaging market due to environmental concerns around the globe. Market vendors try to lower their profit margins and increase the price of raw materials. This negatively affects market growth. Market growth will be impeded by strict regulations on unstable compounds. Another factor that will hinder market growth is the increasing demand for recyclable packaging solutions.


Market Key Trends

Steel drums will be more in demand due to the rising production of craft beer. According to the Brewers Association in the United States, craft beer was 13.3% of the total beer production in 2021, as compared to 12.4% of 2020. This will drive demand for steel drums.

Corrugated packaging is used primarily for packaging fresh and processed food as well as produce and beverages. Corrugated packaging has many advantages over plastic packaging. For example, paper packaging can be made from recycled materials that can be recycled or composted.

This popularity surge has driven the rise in eco-friendly packaging options. Food Dive reports that 68% of global customers believe it is important to purchase items in recyclable packaging. 55% also indicated that it was a factor they considered when buying. These sentiments don’t seem to be going away. 80% of young buyers are willing to pay more for products made in sustainable packaging.

Recent development

  • Greif, Inc. purchased a minority share in Centurion Container LLC in April 2020 to expand its IBC reconditioning network across North America. Centurion Container LLC’s investment is expected to increase the company’s IBC- and IBC reconditioning business.
  • July 2022 – Mondi has teamed up with Diamant (a German bike manufacturer) to preserve and wrap its mountain and trekking bikes. Diamant uses Mondi’s pre-made paper Protector Bags to wrap its bike handlebars. This new method will protect bikes during shipping and reduce Diamant’s use of plastic packaging by around 85% per annum.
  • June 20, 2022 – Spadel PLC and DS Smith PLC launched a 5-liter package that is both practical and sustainably designed. The Eco Pack was developed in collaboration with market leaders in sustainable packaging and natural mineral water. The cardboard octagonal box holds five liters of liquid and is protected by a flexible plastic bag. The economical use of materials results in a reduction of plastic by 65% and a longer shelf life for the water.

Key Companies

  • Grief
  • Amcor
  • International Paper
  • Nefab
  • Schutz
  • Sonoco
  • Sonoco
  • CorrPak Bulk Packaging Systems
  • East India Drums & Barrels Manufacturing
  • Hoover Container Solutions
  • Intertape Polymer Group
  • Jumbo Bag
  • LC Packaging
  • Remcon Plastics
  • RDA Bulk Packaging
  • Snyder Industries
  • Taihua Group
  • Ven Pack

Segmentation

Type

  • Crates/Totes
  • Sacks
  • IBCs

Application

  • Chemicals
  • Pharmaceuticals
  • Construction
  • Food and Beverages

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