BANGALORE from India, October 18, 2021 / PRNewswire / – The Industrial packaging market is segmented by type (Crates / Chests, Bags, IBCs, Other), Application (Chemistry, Pharmaceuticals, Construction, Food and Beverages, Other). The report covers the analysis of global opportunities and industry forecast from 2021 to 2026. It is published in Evaluate reports under Packaging Category.
The global industrial packaging market size is expected to reach $ 66,090 million by 2026, from $ 49,000 million in 2019, at a compound annual growth rate (CAGR) of 4.3% over the forecast period 2021-2026.
Main factors driving the growth of the industrial packaging market
Due to the increasing demand in end-use sectors such as food & beverage and pharmaceuticals, this is expected to drive the growth of industrial packaging market.
Because people cannot leave their homes due to foreclosure limitations, they have to rely on online platforms to purchase daily essentials, resulting in increased demand for solutions and services from bulk industrial packaging.
Over the projected period, an increase in modern retail, high consumer incomes and acceleration of industrial activity, especially in emerging countries, are expected to drive the expansion of the industrial packaging market.
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Trends influencing the growth of the industrial packaging market:
The industrial packaging market is expected to grow due to the growing demand for industrial packaging from emerging economies. Due to increasing population and currency exchange rates, industrial packaging market in emerging countries is expected to grow at a rapid rate throughout the forecast period. Market expansion has been fueled by robust production and consumption of bulk packaging products in economies such as China and India, which have experienced sustained demand from the main consumer countries.
The government and packaging groups have started to tackle the environmental consequences of the use of industrial packaging. International packaging requirements vary and are based on a variety of rules. Currently, the majority of mandatory criteria are voluntary. However, there is a persistent trend towards stronger packaging materials and recyclability. During the forecast period, it is expected to create lucrative growth opportunities for the industrial packaging market players.
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Industrial packaging market share analysis
During the projected period, the food and beverage category is expected to be the most lucrative. Since most food and drink products have a short shelf life, packaging is essential. The food and beverage market is driven by improved supply chain operations and increased demand for vital products.
Depending on the region, Europe is expected to be the most lucrative during the forecast period due to the high demand from the food and pharmaceutical industries for industrial packaging.
The main players in the industrial packaging market
- International paper
- Chem-Tainer Industries
- CorrPak Bulk Packaging Systems
- Cask and Barrel Manufacturing in East India
- Hoover Container Solutions
- Intertape Polymer Group
- Jumbo bag
- LC packing
- Remcon plastics
- Bulk packing RDA
- Snyder Industries
- Taihua Group
- Fri Pack
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– The Global Containerboard Market the size should reach 198,430 million dollars by 2027, from $ 155,920 million in 2020, at a CAGR of 4.1% in 2021-2027.
– The Global Edible packaging market the size should reach $ 581.8 million by 2027, from $ 473.3 million in 2020, at a CAGR of 3.5% in 2021-2027.
– The Global Retail Ready Packaging Market the size should reach $ 68,410 million by 2027, from $ 56,090 million in 2020, at a CAGR of 2.4% in 2021-2027.
– The Global Medical packaging market the size should reach $ 45,230 million by 2027, from $ 34,050 million in 2020, at a CAGR of 3.7% in 2021-2027.
– The Global Foodservice packaging market the size should reach $ 152,150 million by 2027, from $ 113,310 million in 2020, at a CAGR of 4.3% in 2021-2027.
– In 2020, the Multi-Wall Paper Bags Market the size was $ 4,054.5 million and it is expected to achieve $ 4,786.7 million by the end of 2027, with a CAGR of 2.4% in 2021-2027.
– The Global Paper and cardboard packaging market the size should reach $ 224,740 million by 2027, from 189 320 million dollars in 2020, at a CAGR of 2.9% in 2021-2027.
– In 2020, the Flexible plastic packaging market the size was $ 87,390 million and it is planned to achieve $ 110,420 million by the end of 2027, with a CAGR of 3.2% in 2021-2027.
– In 2020, the Molded Fiber Packaging Market the size was $ 4,587 million and it is expected to achieve $ 6,393.1 million by the end of 2027, with a CAGR of 4.9% in 2021-2027.
– The Global liquid packaging market the height was evaluated at $ 331.8 billion in 2019, and is expected to reach $ 463.2 billion by 2027, registering a CAGR of 4.5% from 2020 to 2027.
– The Global Packaging Foams Market the size should reach $ 15,970 million by 2027, from $ 11,980 million in 2020, at a CAGR of 4.9% in 2021-2027
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