Global Industrial Packaging Market Will Reach $ 79216.17 Million by 2026

Global industrial packaging market By Product (Drums, IBCs, Sacks, Pails, Crates/ Totes), Material (Paperboard, Plastic, Metal, Wood, Fiber), Application (Chemical & Pharmaceutical, Building & Construction, Food & Beverage, Oil & Lubricant, Agriculture & Horticulture, Others)

Market Analysis: Global Industrial Packaging Market

Global industrial packaging market is expected to an estimated value of USD 79216.17 million by 2026, registering a steady CAGR in the forecast period of 2019-2026. Increasing globalization and growing commercial industries are the factor for the growth of this market.

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Market Definition: Global Industrial Packaging Market

Industrial packaging is those packaging which are specially designed so that it can deliver goods to the customers. The main aim of these packaging is to protect the good from getting damaged. There are different packaging done as per the need and requirements. Drums, pails, crates, protective films, corrugated boxes and others are some of the common type of the industrial packaging. They are widely used in industries such as building and construction, food and beverages, chemical and others. Increasing R&D investment in industrial packaging and growing demand from construction industry is the factor fuelling the growth of this market.

Market Drivers:

• Increasing building and construction activities worldwide is a factor driving the market growth
• Growth in food and beverage industry will also propel the market
• Rising international trading also acts as a market driver
• Increasing demand for sustainable packaging solutions will also contributes as a driving factor for this market

Market Restraints:

• Strict regulations associated with the volatile organic compounds will also restrain the market growth
• Increasing use of recyclable packaging production is another factor hampering the growth of the market
• Rising environmental concern among population will also hinder the market growth

Global Industrial Packaging Market Segmentation:

By Product

• Drums
• IBCs
• Sacks
• Pails
• Crates/ Totes

By Material

• Paperboard
• Plastic
• Metal
• Wood
• Fiber

By Application

• Chemical & Pharmaceutical
• Building & Construction
• Food & Beverage
• Oil & Lubricant
• Agriculture & Horticulture
• Others
• Plastics & Rubber
• Automobile
• Engineering
• Other Metal Products

Key Developments in the Market:

In June 2019, Alpura announced that they have partnered Ecolean with so that they can add aseptic flexible packages to their dairy product line. This will be first company in the Mexico that would be using Ecolean packages. These Ecolean packages are very good for cooking as they are easy to use, open and store. The main aim is to provide customer with solutions that will help them to improve their cooking experience.

In April 2019, Huhtamaki announced the launch of their new range of recyclable flexible packaging blueloop which is specially designed to pack dry food, coffee, and other personal care products. These packaging is made of PE, PP, and paper. The main aim of the launch is to provide recyclable solutions to the customers which will help them to build brand image and will also strengthen their position in the market.

Competitive Analysis:

Global industrial packaging market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of industrial packaging market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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