Nov 21, 2017   SOURCE: BusinessWire

Global Industrial Packaging Market - Trends and Forecasts by Technavio

Technavio’s latest report on the global industrial packaging market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

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Technavio has published a new report on the global industrial packaging market from 2017-2021. (Grap ...

Technavio has published a new report on the global industrial packaging market from 2017-2021. (Graphic: Business Wire)

Industrial packaging market outlook

The global industrial packaging market is expected to witness a high growth rate during the forecast period. The high growth rate is due to the growth of industries such as healthcare, chemical, and food and beverage. In addition, the increase in pharmaceutical sales is driving the global healthcare industry, which in turn, is impacting the manufacturing activities in these industries. Thus, the growth of these industries will further drive the growth of the industrial packaging market.

Sharan Raj, a lead analyst from Technavio, specializing in research on packaging sector, says, “The pharmaceutical industry manufactures products that are non-durable, perishable, and hazardous. Such products need to be stored and transported with high precaution and safety, as any mishandling of the raw materials or products can result in a huge loss to the manufacturers.”

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The top three emerging trends driving the global industrial packaging market according to Technavio research analysts are:

  • Growing demand for biodegradable packaging alternative
  • Increased demand for customization
  • Revival in the demand for material handling containers

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Growing demand for biodegradable packaging alternative

Increased concern about the environment posed a challenge to the industrial packaging vendors during the base year. However, the growing trend of increased demand for sustainable packaging solutions will drive the growth of the global industrial packaging market during the forecast period.

“Due to technological advances and increase in R&D activities, various bio-degradable packaging solutions derived from natural sources, such as starch plant oil, polyhydroxyalkanoates, polylactic acid, and other cellulose material packaging products, are developed,” according to Sharan.

Increased demand for customization

The increase in competition among industrial packaging vendors as well as various end-user industries is encouraging the vendors to introduce new and advanced industrial packaging products for meeting end-user requirements. Limited stock sizes unbalance the sales of a product for the vendors.

Various end-user industries such as food and beverage and pharmaceutical industries are also using innovative and customized industrial packaging for differentiating their product on the retailers display shelf. Thus, various FMCG companies are using POS and POP display packaging solutions for increasing their sales revenue.

Revival in the demand for material handling containers

The global economic recession in 2008 resulted in a decline in economic activities across industries, such as manufacturing and construction, which reduced the demand for chemical and petrochemical products during 2008-2012. This economic downturn has impacted the industrial activities globally, which in turn, has reduced the demand for industrial packaging solutions.

There is a wide range of products, such as heavy-duty and rigid containers, attached lid containers, stackable containers, and IBCs, which are used as material handling containers by different end-user industries. The material handling containers are expected to witness a stable growth rate during the forecast period.

The key vendors are as follows:

  • Greif
  • International Paper
  • Mondi Group
  • Nefab Group
  • Sonoco Products Company

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