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 report “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 grow to $87.66 billion in 2026 at a compound annual growth rate (CAGR) of 6.07%.
The industrial packaging market consists of sales of industrial packaging solutions by entities (organizations, sole traders, and partnerships) that refer to packaging that helps protect, ship, and store delicate items that rely largely on stability. It is frequently used by producers of machinery, particularly delicate equipment, technology, and other products that need to be protected from anything from moisture to vibrations.
The main product types of industrial packaging are drums, intermediate bulk containers (IBCs), sacks, pails, and crates/totes.Drums refer to cylindrical containers made of metal or fibreboard used for storing and transporting various materials and resources.
Materials such as paperboard, plastic, metal, wood, and fiber are used for industrial packaging. Chemical & pharmaceutical, building & construction, food & beverage, oil & lubricant, agriculture & 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 in the forecast period.
The 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 one of a series of new reports that provides industrial packaging market statistics, including industrial packaging industry global market size, regional shares, competitors with a industrial packaging market share, detailed industrial packaging market segments, market trends and opportunities, and any further data you may need to thrive in the industrial packaging industry. This industrial packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
An increase in demand for food products across the globe is expected to propel the growth of the industrial packaging market.Demand for packaged foods is rising as a result of changes in consumer preferences, governmental regulations, and food storage.
Many consumers now choose packaged food over unpackaged food as a result of the epidemic’s growing food safety issue.By assuring the safe storage and handling of food goods, packaging materials play a crucial role in supporting the food sector.
According to the Bizom data, an India-based Retail intelligence platform, the sales of packaged food increased by 95% year on year a few weeks before the holiday season, due to rising out-of-home consumption and ready-to-eat products. Therefore, an increase in demand for food products across the globe will drive the growth of the industrial packaging market.
Technological advancement is a key trend gaining popularity in the industrial packaging market.Artificial intelligence is helping firms employ computers and algorithms to produce better packaging solutions.
AI is used in inspection, data labeling, recycling products, and various other applications.In April 2022, DHL Supply Chain announced a new on-demand packaging option to its business clients to make shipments more cost-effective and ecologically responsible.
The AI-powered OptiCarton technology will aid in the optimization of box filling from a pre-configured set of cartons and even recommend breaking orders into many consignments to make individual shipments more cost-effective or lessen their carbon impact.
In December 2021, UFP Industries Inc., a holding company that operates in industrial, construction, and retail acquired Advantage Label & Packaging Inc. for a $16 million deal amount. With this acquisition, UFP Industries can expand its ability to offer 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 USA-based company that specialized in customized labels, printers, label applicators, and other packaging supplies and serves a range of sectors, including manufacturing, automotive, greenhouse and nursery, beverage, and food processing.
The countries covered in the industrial packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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