Oct 22, 2020   SOURCE: BusinessWire

Worldwide Industrial Packaging Industry to 2025 - Featuring International Paper, Mauser Packaging Solutions & Mondi Among Others - ResearchAndMarkets.com

The "Industrial Packaging Market by Product type, Material (Paperboard, Plastic, Wood, Metal), Application (Food & Beverage, Building & Construction, Pharmaceutical, Chemical, Automotive, Oil & Lubricant) and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The market size of industrial packaging was USD 57.5 billion in 2019 and is projected to reach USD 72.6 billion, by 2025.

The global industrial packaging industry has witnessed high growth primarily because of the increasing demand for food & beverage and pharmaceutical products worldwide, especially during the COVID-19 pandemic. Demand for sustainable, and durable protective packaging for the pharmaceutical industry is another key factor contributing towards the increasing growth of the industrial packaging market over the next few years.

In terms of both value and volume, corrugated boxes segment to lead the industrial packaging market by 2025.

The corrugated boxes segment is expected to lead the global industrial packaging market by 2025. It is further projected to grow at the highest CAGR from 2020 to 2025. The increase in the demand for corrugated boxes can be attributed to the rise in the demand for lightweight and convenient packaging solutions across end-use industries. The growth of the corrugated boxes segment will be supported by the increase in demand from the manufacturers in the food & beverage and pharmaceutical industries, and growth of the e-commerce sector during the forecast period.

In terms of both value and volume, pharmaceutical is projected to be the fastest-growing segment from 2020 to 2025, for industrial packaging.

Pharmaceutical is projected to be the fastest-growing segment in the industrial packaging market. The demand for industrial packaging in the pharmaceutical industry, is expected to remain robust as hospitals, drugs, and PPE manufacturers are responding to the crisis. The demand for household essentials, healthcare, and medical goods is not expected to decrease dramatically, and retail distribution for these types of products through online delivery can be expected to increase. This in turn, boosts the demand for industrial packaging solutions for the timely delivery of raw materials and finished goods to their respective end-users. Hence, high demand is expected for industrial packaging in the pharmaceutical segment during the projected period.

In terms of both value and volume, the Asia Pacific industrial packaging market is projected to grow at the highest CAGR during the forecast period.

In terms of value and volume, the Asia Pacific region is projected to grow at the highest CAGR from 2020 to 2025 due to the strong demand for the industrial packaging products from countries such as China, India, and Japan. Rising demand for food & horticulture, particularly in China and India, is expected to fuel the growth of the industrial packaging market in the region. An increase in the usage of bulk packaging products for snacks, grains, and fresh produce, has resulted in high demand for industrial packaging in the food & beverage segment.

Market Dynamics

Drivers

  • Increasing Demand for Plastic Sacks
  • Rise in Demand for Industrial Packaging from Construction and Chemical Industries
  • High Optimization in Pack Size

Restraints

  • Low Ultra-Violet Resistance of FIBCs
  • Volatility in Raw Material Prices
  • Stringent Packaging Regulations

Opportunities

  • Globalization and International Trade
  • Rising Demand for Industrial Packaging from APAC Region
  • Rise in Product Innovation for Industrial Packaging

Challenges

  • Pricing Pressure for Small Manufacturers
  • Recycling and Environmental Concerns Associated with Industrial Packaging

Companies Mentioned

  • Amcor
  • Ameriglobe LLC
  • B.A.G. Corp.
  • Berry Global Inc.
  • Chem-Tainer Industries
  • Cleveland Steel Container Corporation
  • Composite Containers, LLC
  • Greif, Inc.
  • International Paper
  • Mauser Packaging Solutions
  • Mondi
  • Myers Container
  • Orora Limited
  • Sigma Plastics Group
  • Snyder Industries
  • Sonoco
  • Taihua Group
  • Ven Pack
  • Westrock Company
  • Wuxi Sifang Group Co. Ltd

For more information about this report visit https://www.researchandmarkets.com/r/ymvqcv