Industrial Packaging Market Size, Industry Share and Analysis By Material (Plastic, Paper, Glass, Wood, and Metal), By Product (Drums, I.B.C., Boxes, Sacks, Crates, Pallets, Folding Cartons, Bottles, Cans, and Others), By End-use Industry (Food & Beverage, Healthcare, Personal Care & Cosmetics, Automotive, Agriculture, Building & Construction, Electrical & Electronics, and Others), and Regional Forecast, 2024-2032

The global industrial packaging market is poised for substantial growth driven by rising demand in food & beverage and pharmaceutical industries. Factors like expanding modern retail, rising consumer disposable income, and accelerating industrial activity, particularly in emerging economies, will further fuel market expansion.

Industrial packaging is designed to protect and store industrial goods. Industrial packaging is often used in chemicals, healthcare, food & beverages, automotive, and many other industries. This packaging is mainly designed to hold large amounts of products. Industrial packaging is also customizable according to needs and suitable for products utilized at a large industrial scale. Furthermore, industrial packaging is available in various types to accommodate different product shapes, materials, and sizes, such as cup filling, shrink filling, powder filling, pouch filling, and form fill sealing.

Rising import-export activity across the world is one of the significant factors that will be driving the industrial packaging market growth. Rising demand for eco-friendly industrial packaging fuels the industrial packaging demand. Furthermore, shipping containers protect industrial appliances and are used widely in import-export activity, further boosting the market. Furthermore, the food & beverages, automotive, and healthcare industries are mainly responsible for driving the global market as this industry requires specific industrial packaging.

• In Aug 2022, U.S. total beer production was about 14.58 million barrels. Total U.S. beer production that year exceeded 179 million drums. These statistics indicate the positive growth of the market.

Growing environmental concerns across the globe are negatively impacted on industrial packaging industry growth. In many countries, several strict government rules and regulations on not using plastic material and related products also hampered market growth. The rising demand for environmentally friendly packaging is also a significant obstacle that inhibits the development of the industrial packaging market.

IMPACT OF COVID-19 ON THIS MARKET

Due to the COVID-19, the overall manufacturing facilities are on hold or cut in half production. Also, many vendors raise the prices of raw materials. Due to minimal production, the industrial packaging industry observed a bearable fall in its growth rate. At some point, COVID-19 positively impacted the industrial packaging market as the healthcare industry showed a significant rise during COVID-19, increasing the demand for industrial packaging products.

KEY INSIGHTS

The report will cover the following key insights:

• Key Emerging Trends – For Major Regions


• Key Developments: Mergers, Acquisitions, Partnerships, and Others


• Latest Technological Advancement


• Regulatory Landscape


• Porters Five Forces Analysis


• Impact of COVID-19 on the Market

ANALYSIS BY MATERIAL

Based on material, the industrial packaging market is segmented into plastic, paper, glass, wood, and metal. The plastic segment holds a large market share. Plastic packaging is used widely used all over the packaging industry. HDPE is the common type of plastic used in the packaging industry. HDPE plastic is widely used to manufacture unpigmented bottles, which has good stiffness and is ideal for packaging products commonly used in the food and beverage industry for milk packaging. Pet plastic is used for small plastic containers for packaging of small fruit packaging.

ANALYSIS BY PRODUCT

Based on the product, the industrial packaging market is segmented into drums, I.B.C., boxes, sacks, crates, pallets, folding cartons, bottles, cans, and others. The drums segment dominates the market because this product is widely utilized in the food, beverages, and chemical industries. Wine is the preferred beverage globally and is transported in wooden drums. Furthermore, many hazardous chemicals such as strippers, dry cleaning compounds, pool chemicals, inks, degreasers, acids, bases, and solvents are transported in drums packaging. Bottles are another segment that is broadly acknowledged across the globe. Bottles are commonly used by the pharma, chemical, and food & beverages industries for multiple uses.

ANALYSIS BY END-USE INDUSTRY

Based on the end-use industry, the market is segmented into food & beverage, healthcare, personal care & cosmetics, automotive, agriculture, building & construction, electrical & electronics, and others. The food & beverages segment dominates the market as this industry uses different packaging according to food categories, such as glass bottle packaging for alcohol, water, juices, and other semisolid liquids. Crates packaging is implemented for fruit transport. Additionally, rising demand for environmentally friendly food packaging and reduced use of plastic makes this industry unique in the industrial packaging industry.

For instance, in September 2022, KSH introduced loop LITE, is fully recycled PET plastic container specially designed for highly carbonated beverages. It significantly decreased the use of plastic. The newly developed lightweight bottle is constructed from 100% rPET. Thanks to its ultra-thin FreshSafe PET inner glass coating, it offers impressive freshness and quality protection without compromising the recyclability of the PET material itself.

The healthcare industry uses glass packaging such as injection vials and liquid syrups. The automotive sector uses paper-based packaging for the transport of automotive parts. The consumption of different packaging types in various industries will propel the growth of the industrial packaging market.

REGIONAL Industrial Packaging Market ANALYSIS

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North America is anticipated to grow as this region has rising import-export activity, and free trade agreements will boost the industrial packaging market. Introducing new prolonged diseases and a growing elderly population will increase the demand for the pharmaceutical segment in North America.

Europe is another region with a prominent market position. The government of Europe implemented strict rules on plastic usage, and the use of eco-friendly materials for industrial packaging makes this region unique in the industrial packaging industry. For instance, in 2020, the global leader in packaging, Amcor, introduced the world's 1^st flexible and recyclable retort pouch.

The Asia Pacific is anticipated to grow as this country will rapidly adopt the technology during the forecast period. Rapid industrialization in this region also boosts the demand for the industrial packaging market. Furthermore, the easy availability of a broad spectrum of raw materials and the growing automotive, healthcare, building, and construction industries are responsible for the market growth in this region.

Latin America is anticipated to grow during the forecast period owing to the presence of leading industries such as automobile production, textiles, mining, and chemical industries in this region. The nation's rising chemical industry indicates this region's positive industrial market growth.

The Middle East and South Africa dominate the market owing to the rapid growth of this region's building and construction industry. Furthermore, the growing healthcare industry across the region is anticipated to develop the industrial packaging industry..

KEY PLAYERS COVERED

• Mondi plc.


• Amcor Limited


• International Paper Company


• Orora Limited


• Sigma Plastics Group


• B.A.G. Corporation


• Corr-Pak Corporation


• Sonoco, Greif Inc.


• Chem-Tainer Industries 


• East India Drums & Barrels


• Sealed Air.

SEGMENTATION

Industrial Packaging INDUSTRY DEVELOPMENTS

• In May 2022, Berry Global's U.K. decline sack professional introduced a new range of high-strength refuse sacks produced from used plastics. The recyclable sacks would be made at the company's Heanor, Derbyshire production facility and accessible in the U.K.


• In May 2022, Smurfit Kappa Group P.L.C. premeditated to invest E.U.R. 35 million to construct a packaging plant in Morocco. It would be involved in producing its products for applications in multiple sectors, including pharmaceuticals, industrial, fast-moving consumer goods, ceramics, agriculture, and automotive.


• In April 2022, Novvia Group acquired Southern Container L.L.C., a fiber, plastic, glass, and metal packaging product distributor. Through this acquisition, Novvia strengthened its Inmark business and its market position.


• In September 2020, Mauser Packaging Solutions acquired EuroVeneta Fusti over Joint Venture NCG-Maider in Italy. This acquirement is anticipated to inflate the company's footprint in Italy and outspread the offering of present steel drum packaging, plastic industrial packaging, and reconditioning I.B.C. facilities inside the Italian market.


• In July 2020, Mauser Packaging Solutions announced a new one-piece customer pack. The one-piece consumer pack is perfect for use in industries such as home care, pool care, and food products. An attached candy and confection hinged lid offers end-users easy and full access to tub contents, allowing them to grab and close the top in one quick click quickly. Also, post its usage, the package is 100% biodegradable or can be recycled by the customer.