Industrial Packaging Market Size to Reach USD 66,090 Million by 2026 at a CAGR of 4.3%

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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

  • Amcor
  • Mourning
  • International paper
  • Nefab
  • Schutz
  • Sonoco
  • 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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