Global Industrial Packaging Market to Reach US$ 83.4 Billion by 2032, Catalyzed by Development of Smart Packaging Solutions

According to the latest report by IMARC Group, titled “Industrial Packaging Market Report by Product (Intermediate Bulk Containers (IBCs), Sacks, Drums, Pails, and Others), Material (Paperboard, Plastic, Metal, Wood, Fiber), Application (Chemical and Pharmaceutical, Building and Construction, Food and Beverage, Oil and Lubricant, Agriculture and Horticulture, and Others), and Region 2024-2032," the global industrial packaging market size reached US$ 62.0 Billion in 2023. Industrial packaging refers to specialized packaging solutions designed to protect industrial goods during storage and shipping. It includes corrugated boxes, crates, pallets, drums, sacks, pails, and integrated bulk containers (IBCs). They are manufactured using various lightweight, cost-effective, and durable materials, such as cardboard, plastics, wood, metal, glass, and fiberboard. Industrial packaging is widely used in storing and transporting raw materials, finished products, heavy machinery, chemicals, drugs and medications, hazardous substances, electronics, agricultural products, and construction materials. It reduces the risk of damage or spoilable, ensures product integrity, and provides protection against impacts, vibrations, temperature variations, moisture, and dust. Industrial packaging also aids in optimizing warehouse storage spaces, improving efficiency, and enabling easy inventory management.

Global Industrial Packaging Market Trends:

The rapid industrialization across the globe is one of the primary factors propelling the market growth. Industrial packaging is widely used across the manufacturing, automotive, pharmaceutical, electrical and electronics, agriculture, construction, and chemical industries to store, transport, and distribute products in optimal conditions and provide protection against adverse environmental factors. Along with this, the increasing import and export of goods between countries, owing to the globalization of trade activities, is acting as another growth-inducing factor. Furthermore, the implementation of strict government regulations to mandate the adoption of specialized industrial packaging to maintain the integrity of goods and ensure the safe handling of hazardous materials is providing an impetus to the market growth. Additionally, the recent development of smart packaging solutions that are equipped with sensors and radio-frequency identification (RFID) tags to provide various capabilities, such as real-time tracking, supply chain visibility, product authentication, temperature monitoring, and tamper detection, is supporting the market growth. Apart from this, the growing demand for eco-friendly, recyclable, and biodegradable packaging materials that reduce waste generation, minimize carbon footprints, and promote sustainability, is contributing to the market growth. Other factors, including the increasing emphasis on supply chain efficiency, rising investments in the development of innovative packaging solutions, and rapid expansion of e-commerce and online retail platforms, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 83.4 Billion by 2032, exhibiting a CAGR of 3.3% during 2024-2032.

Market Summary:

• On the basis of the product, the market has been divided into intermediate bulk containers (IBCs), sacks, drums, pails, and others.
• Based on the material, the market has been classified into paperboard, plastic, metal, wood, and fiber.
• On the basis of the application, the market has been divided into chemical and pharmaceutical, building and construction, food and beverage, oil and lubricant, agriculture and horticulture, and others.
• On a regional basis, the market has been categorized into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
• The competitive landscape of the industry has also been examined, with some of the key players being Amcor plc, Berry Global Inc., DS Smith PLC, Global-Pak Inc., Greif Inc., International Paper Company, Mondi plc, Nefab AB, Orora Limited, Smurfit Kappa Group plc, Sonoco Products Company and Westrock Company.

Report Coverage:

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