The global industrial packaging market size was around USD 73.88 Billion in 2021 and is anticipated to reach USD 115.81 Billion by 2030, expanding at a CAGR of 5.28% during the forecast period, 2022–2030. The market growth is attributed to increasing demand for industrial packaging solutions in various industries, such as food & beverages and pharmaceuticals.
Industrial packaging is specially designed for industrial purposes and is a collaborative system of producing packaging solutions for goods. A wide variety of products are packed, stored, and shipped on a large scale and require strong protection. Industrial packaging includes heavy-duty packaging, which is used as a primary layer of packaging in manufacturing and industrial facilities.
Industrial packaging solutions are used to package various products, especially delegate products, to enhance protection during transportation or shipping and when products are in storage. Industrial packaging includes plastic drums, steel drums, cardboard boxes, and containers, which are widely used for automotive, electronics, machinery, and highly sensitive equipment to protect from moisture, dampness, and external damage during loading and transportation.
Industrial packaging also includes steel, metals, and aluminum used for packing at any stage through the supply chain as per need. Besides protection and safety, industrial packaging is used for advertising and branding. Industrial packaging is labeled similar to commercial packaging by some companies which helps to create brand identity. Cartons, drums, and containers can be custom-painted with the company’s logo to create and increase brand awareness among the consumers. This is a creative way to advertise products or services to potential buyers while in transit, shipping, or storage.
COVID-19 Impact
The market reports find that the COVID-19 had a positive impact on the global industrial packaging market. Significant growth of the market is attributed to the rising demand for packaging for food & beverages and pharmaceutical applications during the pandemic. The strict pandemic-related restrictions such as social distancing policies, lockdowns, travel bans, and others shifted consumer preferences to online platforms for ordering daily necessities with good packaging.
Industries such as consumer electronics, automotive, and personal care witnessed a downfall during the COVID-19 period; however, the e-commerce industry registered growth during the same time. The limitations and restrictions on transportation disrupted the supply chain of the global industrial packaging market during the COVID-19 period. Increasing awareness of hygiene among the masses during the pandemic and high demands for safe and high-quality of packaging while delivering the essential products increased the demand for advanced packaging solutions, which leads to rising the demand for industrial packaging in the global market.
Industrial Packaging Market Dynamics
The global industrial packaging market research report provides a complete overview by providing detailed information and by focusing on growth and historical data to determine the key market trends, major drivers, existing restraints, and emerging opportunities. The global industrial packaging market report includes a detailed analysis of the market that can help in shaping the overall performance and output of the market during the forecast period, 2022 to 2030.
Major Trends
Increasing demand for packaged food and the rising use of certified food grade packaging products among industries are expected to drive the global market in the coming years. Industrial packaging solutions are widely used across in the food and beverages industry for various food products and beverages applications. The pandemic led to an increasing number of consumers opting for well-packaged food items and beverages across the globe.
Major Drivers
Increasing import and export activities on a large scale is a major key factor driving the global market growth. Shipping containers are used to provide protection to industrial equipment and transfer easily, which leads to increasing demand for heavy containers and drums. The rising demand for heavy-duty packaging products for import and export activities boosts the growth of the global industrial packaging market.
Increasing demand for bulk industrial packaging solutions from the chemical and construction industries accelerates the market growth. Rising production in the chemical industry increases the demand for bulk packaging, which leads to the expansion of the global market. Growing construction activities in several countries across the globe demand for the safe transportation of products that boosts the demand for industrial packaging in the global market.
Rising demand for protective packaging from different industries, such as chemical, food & beverages, and others across the globe a key factor driving the global market. The trend of online purchasing boost the growth in the e-commerce industry, which demands for the bulk packaging solutions. Industrial packaging is an effective method for packaging frangible items, which makes them a popular in choice in the protective packaging market that leads to high demand in the global market.
The rising trend of online shopping around the globe has increased the demand for protective packaging. Growing number of online retailers are provoking market players to come up with the better packaging options. Market players increasingly focusing towards reducing pilferage during transportation is likely to accelerate the market growth in the coming years.
Existing Restraints
There is growing environmental concern across the globe, as many industries such as food & beverages and pharmaceuticals demand for bulk packaging, which creates a huge amount of waste. This hinders the global market growth. Furthermore, high availability of other sustainable alternatives is anticipated to restrain the growth of industrial packaging market during the projected period.
The price of raw materials increasing at a rapid pace, which propels vendors to increase their product prices and reduced the profit margin to the manufacturers. The fluctuating prices of raw materials hamper the growth of the market. Stringent regulations related to volatile compounds will hinder the global market growth as well.
Tight government regulations regarding the use of plastic are expected to impact the global market. Growing awareness regarding the adverse effects of plastic on the environment and surging adopting of government regulations to avoid the use of plastic hampers the growth of the market. Furthermore, the highly flammable nature and non-disposable property of plastic affects the environment negatively, which restricts its use globally, hampering the overall revenue growth of the global industrial packaging market.
Key Opportunities
According to the World Economic Forum, 8.5 million tons of plastic leaks into the ocean every year, which could destroy the ecosystem. Therefore, recycling becomes a major challenge in the global industrial packaging market. Recycled products offer re-use value and reduce waste, which reduces the negative environmental impact of plastic.
Growing demand for recyclability in packaging products motivate manufacturers to opt for recyclable packaging estimated to fuel the global market in the coming years. Increasing awareness regarding the drawbacks of plastic consumption, its non-disposable property, and its negative effect on the environment, leads to the rising demand for eco-friendly products across the globe. This is a major factor creating growth opportunities for the market players.
Scope of Industrial Packaging Market Report
The global industrial packaging market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Industrial Packaging market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2021
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Historic Data
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2019-2020
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Forecast Period
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2022-2030
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Segmentation
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Packaging Type (Flexible and Rigid), Material (Paper, Plastic, Metal, Wood, Steel, Aluminium, Fibre, and Foam), Product Type (Corrugated Boxes, Bags, Barrels, Drums, Tanks, Sacks, Containers, and Others), Technology (Injection Molding, Blow Molding, Extrusion, and Thermoforming), Application (E-commerce, Food & Beverages, Chemicals & Pharmaceuticals, Electronics & Electricals, Building & Construction, Oil & Lubricants, Gas & Petrochemicals, Automotive & Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Regional Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Amcor plc; AmeriGlobe L.L.C.; Bemis Manufacturing Company; Berry Global Inc.; BWAY Corporation (Mauser Packaging Solutions); Chem-Trainer Industries; Greif.; International Paper; Mondi; NEFAB GROUP; Orora Packaging Australia Pty Ltd; Schoeller Allibert; Sealed Air; Sigma Plastics Group; Snyder Industries; Sonoco Products Company; WestRock Company; and Wuxi Sifang Vacuum Equipment Co., Ltd.
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Industrial Packaging Market Segments Insights
Based on packaging type, the global market is bifurcated into flexible and rigid. The flexible segment is expected to account for a key market share during the forecast period, due to lightweight and durable properties that the flexible packaging offers. Flexible packaging sheets are low in cost and suitable for wrapping a wide range of items especially electronic devices and frangible items during transportation.
It is easy to wrap a product of any size and shape, which drives the global market. Rigid type of packaging is widely used to provide protection to the industrial equipment while shipping or transportation over the globe. Rigid packaging unable to bend or damaged easily due to its high strength property, which leads to contribute to the segment growth in the coming years.
On the basis of material, the global market is divided into paper, plastic, metal, wood, steel, aluminium, fibre, and foam. The plastic segment held a key market share in 2021 and is anticipated to expand significantly during the projected period. Plastic packaging is flexible and light in weight, and as a result, it has a high product-to-package ratio.
Rising demand from the food and beverages industries leads to increasing demand for the global industrial packaging market. The wood segment is expected to register a significant growth in the coming years, due to low cost, high strength, and moisture absorption qualities. It has a large carrying capacity and is reusable for a long period of time, which increases the demand for wood packaging products in the market.
The paper segment is attributed to contribute to the growth of the market during the forecast period. Increasing environmental concern rising the demand for eco-friendly products generating the global market growth.
Based on product type, the global market is fragmented into corrugated boxes, bags, barrels, drums, tanks, sacks, containers, and others. The corrugated boxes segment held a key market share in 2021 and is expected to account for a large revenue share in the coming years. Corrugated boxes are used for packaging fresh foods, processed foods, and produced beverages.
It is becoming an alternative to plastic packaging, due to its recyclable property as it made from kraft paper. It is excellent for packing fragile items, due to its high structural strength and well cushioning properties. This leads to the rising demand for corrugated boxes from various sectors such as food and beverages, pharmaceuticals, and automotive.
The drum segment contributed to market growth during the projected period. Drums are widely used in the chemical industry to store or ship chemicals, which aids in increasing the demand for steel drums at a rapid pace.
The container segment is anticipated to accelerate the market during the forecast period. Containers can store hundreds of gallons of liquid and used at a wide range to dispensing liquid products. Containers provide better protection to heavy industrial equipment than other packaging product types while shipping and can be transferred easily, which increases the demand for heavy containers from heavy manufacturing industries.
On the basis of technology, the global industrial packaging market is segmented into injection molding, blow molding, extrusion, and thermoforming. The extrusion segment accounted for a high revenue share in 2021 and is expected to expand at a rapid pace in the coming years. An extrusion method is used to produce packages such as pouches and bags, which are flexible and low in cost, especially used in the food & beverages and pharmaceuticals industry.
High demand for industrial packaging created with extrusion technology in various industries is driving the segment growth of the global market. Increasing adoption of the injection molding technology used to manufacture crates, containers, and blow-molded hollow products such as plastic bottles attributed to rising the global market growth.
The thermoforming segment is expected to register a high CAGR during the forecast period. Thermoforming technology involves heating rigid plastic and other materials to malleable temperature to obtain a precise shape.
In terms of application, the market is segregated into e-commerce, food & beverages, chemicals & pharmaceuticals, electronics & electricals, building & construction, oil & lubricants, gas & petrochemicals, automotive & others. The e-commerce segment is attributed to expand at a rapid pace during the forecast period, due to an increasing trend of online shopping of fragile and electronics items.
When customers place their orders, they expect to be delivered in pristine condition, which generates high demand for packaging. The food and beverages segment is anticipated to increase during the projected period as well. The market growth is attributed to the rising demand for packaging of food & beverages products.
Most of consumers prefer online platforms for ordering daily necessities with well packaging that results in increasing the demand for industrial packaging market. Electronics & electricals segment is expected to drive the market during the projected period. Rising demand for advanced electronic devices due to expanding prevalence and need of electronics gadget over the globe is anticipated to boost the market.
Based on regions, the global industrial packaging market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific held a revenue share of around 40% in 2021, owing to the high demand from food packaging industry. The region is estimated to dominate the market during the projected period, due to rising demand from various industries, such as pharmaceuticals, electronics, and automotive, growing rapidly in India, China, and South Korea.
The presence of developing economies such as China and India make this region a global hub of manufacturing. The regional market growth is attributed to rising manufacturing hub and increasing demand for ready-to-eat and packaged food products.
Segments
The global industrial packaging market has been segmented on the basis of
Packaging type
Material
- Paper
- Plastic
- Metal
- Wood
- Steel
- Aluminium
- Fibre
- Foam
Product Type
- Corrugated Boxes
- Bags
- Barrels
- Drums
- Tanks
- Sacks
- Containers and Others
Technology
- Injection Molding
- Blow Molding
- Extrusion
- Thermoforming
Application
- E-Commerce
- Food & Beverage
- Chemicals & Pharmaceuticals
- Electronics & Electricals
- Building & Construction
- Oil & Lubricants
- Gas & Petrochemicals
- Automotive & Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Amcor plc
- AmeriGlobe L.L.C.
- Bemis Manufacturing Company
- Berry Global Inc.
- BWAY Corporation (Mauser Packaging Solutions)
- Chem-Trainer Industries
- Greif.
- International Paper
- Mondi
- NEFAB GROUP
- Orora Packaging Australia Pty Ltd
- Schoeller Allibert
- Sealed Air
- Sigma Plastics Group
- Snyder Industries
- Sonoco Products Company
- WestRock Company
- Wuxi Sifang Vacuum Equipment Co., Ltd.
Competitive Landscape
Key players competing in the global industrial packaging market are Amcor plc; AmeriGlobe L.L.C.; Bemis Manufacturing Company; Berry Global Inc.; BWAY Corporation (Mauser Packaging Solutions); Chem-Trainer Industries; Greif.; International Paper; Mondi; NEFAB GROUP; Orora Packaging Australia Pty Ltd; Schoeller Allibert; Sealed Air; Sigma Plastics Group; Snyder Industries; Sonoco Products Company; WestRock Company; and Wuxi Sifang Vacuum Equipment Co., Ltd.
Some of these players are using several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares, generate revenue, and raise their production line. For instance,
- On June 23, 2021, Sealed Air Corporation invested in a new equipment system to meet the accelerating demand for Automated Packaging Systems (APS). The investment is for expansion of capacity, “touchless” automation, and proprietary digital printing technologies.
- In September 2020, EuroVeneta Fusti acquired by Mauser Packaging Solutions through Joint Venture NCG-Maider in Italy. This acquisition is anticipated to expand the company’s presence and its offering of steel drum packaging, plastic industrial packaging, and intermediate bulk container (IBC) services in the Italy-based market.
- In September 2020, AirSpeed Ascent high-pressure air cushioning system introduced by Pregis, a leading manufacturer of protective packaging company. The system creates square pattern cushioning and providing superior protection to products.
- On April 1st, 2020, a minority stake in Centurion Container LLC is acquired by Greif, a global leader in industrial packaging and services, to expand the reconditioning network of intermediate bulk container (IBC) in North America. The investment in Centurion Container LLC is anticipated to increase the company’s IBC and IBC reconditioning business.
- In 2020, a new model of wet storage container range launched by Saeplast (a brand of Berry Global). The model designed for the handling of live shellfish, including oysters, mussels, and clams. The Saeplast DWS352 provides a complete system that enables the container to be used for harvesting on the water, shipping to the factory, cleaning and purifying of the materials, and subsequent storage.
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