The major players in the industrial packaging market are Grief Inc, Mondi PLC, Amcor Limited, Westrock Company, International Paper Company, Bemis Company Inc, AmeriGlobe, Sigma Plastics Group, Sealed Air, Sonoco Products Company, Smurfit Kappa, Packaging Corporation of America, Tank Holding Corp, Schaefer Container Systems, WERIT Kunststoffwerke Schneider GmbH & Co KG and Cascades Inc.
New York, Sept. 16, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Industrial Packaging Global Market Report 2022” – https://www.reportlinker.com/p06319899/?utm_source=GNW
The global industrial packaging market is expected to grow from $65.11 billion in 2021 to $69.26 billion in 2022 at a compound annual growth rate (CAGR) of 6.36%. The industrial packaging market is expected to reach $87.66 billion in 2026 at a compound annual growth rate (CAGR) of 6.07%.
The industrial packaging market includes sales of industrial packaging solutions by entities (organizations, independent traders, and partnerships) that refer to packaging that helps protect, ship, and store delicate items that rely heavily on stability. It is frequently used by producers of machinery, especially delicate equipment, technology and other products that need to be protected from everything from moisture to vibration.
The main types of industrial packaging products are drums, intermediate bulk containers (IBCs), bags, pails and cases/bins. Drums refer to cylindrical metal or cardboard containers used to store and transport various materials and resources.
Materials such as cardboard, plastic, metal, wood and fibers are used for industrial packaging. Chemicals and pharmaceuticals, building and construction, food and beverages, oil and lubricants, agriculture and horticulture, among other industries, use these forms of packaging.
North America was the largest region in the industrial packaging market in 2021. Asia-Pacific is expected to be the fastest growing region during the forecast period.
Regions covered in the Industrial Packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle- East and Africa.
The Industrial Packaging Market research report is part of a series of new reports that provide statistics on the Industrial Packaging market, including the global market size of the Industrial Packaging industry , regional shares, competitors holding Industrial Packaging market share, detailed Industrial Packaging market segments, market trends and opportunities. , and any other data you may need to thrive in the industrial packaging industry. This Industrial Packaging Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
An increase in the demand for food products across the globe is expected to propel the growth of the industrial packaging market. The demand for packaged foods is increasing due to changing consumer preferences, government regulations, and food storage.
Many consumers now prefer packaged foods to unpackaged foods due to the growing food safety concern related to the outbreak. By ensuring the safe storage and handling of food products, packaging materials play a crucial role in supporting the food sector.
According to data from Bizom, an India-based business intelligence platform, packaged food sales increased 95% year-on-year within weeks of the holiday season, due to increased out-of-home consumption and ready-to-eat products. . Hence, an increase in the demand for food products across the globe will drive the growth of the industrial packaging market.
Technological advancement is a key trend that is gaining popularity in the industrial packaging market. Artificial intelligence helps companies use computers and algorithms to produce better packaging solutions.
AI is used in inspection, data labeling, product recycling, and various other applications. In April 2022, DHL Supply Chain announced a new on-demand packaging option to its business customers to make shipping more cost effective and environmentally responsible.
The AI-powered OptiCarton technology will help optimize box filling from a set of preconfigured cartons and even recommend splitting orders into multiple shipments to make individual shipments more profitable or reduce their carbon impact.
In December 2021, UFP Industries Inc., a holding company that operates in manufacturing, construction and retail, acquired Advantage Label & Packaging Inc. for $16 million. With this acquisition, UFP Industries can expand its ability to offer its customers a wide range of industrial packaging products by adding a whole range of labeling options offered by Advantage Label, such as Line Boss, a machine designed specifically to apply labels on agricultural containers. Advantage Label & Packaging Inc. is a United States-based company specializing in custom labels, printers, label applicators and other packaging supplies and serves a range of industries including manufacturing, automotive, greenhouses and nurseries, beverages and food processing.
The countries covered in the Industrial Packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and the United States.
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