Global Industrial Packaging Market Outlook to 2027

Global Industrial Packaging Market Outlook to 2027

The report provides a comprehensive analysis of the potential of Global Industrial Packaging Industry. The report covers an overview and genesis of the industry, market size in terms of number of industrial packages sold.

Its market segmentations include byproduct type, kind of material, end user and by region; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. the report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Ken Research estimates, due to the impact of COVID-19, there has been supply chain disruptions, unavailability of materials used in the manufacturing process, labor shortages, fluctuating prices, and inflation in production costs. The Global Industrial Packaging Market is currently at $ 60 Bn and expected to exceed $ 80 Bn by 2027.
Mauser, an industrial packaging company, recently presented its new skINliner barrier technology during a customer event in Heidelberg, Germany. The Mauser skINliner barrier technology combines the advanced barrier performance of multilayer plastic film technology.
The increase in the utilization of shipping containers drives the market. Thus, companies have been collaborating to offer new and innovative products as per the customers' requirements.

Key Trends by Market Segment:

By Application: According to Food Dive, 67% of customers globally believe it is critical that the items they buy come in recyclable packaging, with 54% indicating it is a factor they consider when purchasing. The most used industrial packaging for food and beverage industries are drums, IBCs, corrugated boxes, pallets, and sacks.

By Region: Industrial packaging market in Asia Pacific accounted for largest revenue share in 2022, and the trend is expected to continue over the forecast period. This can be attributed to high demand for industrial packaging from industries such as automotive, electronics, and pharmaceuticals, which are growing rapidly in countries such as India, China, and South Korea.

Competitive Landscape

The global industrial packaging market remains highly fragmented, with numerous international, regional, and local vendors. Local manufacturers of industrial packaging products cater to unique, innovative solutions at a price lower as compared to the international vendors, resulting in an intense price battle. The market consists of players like WERIT Kunststoffwerke W. Schneider GmbH & Co, Mondi Plc, Greif Inc, Mauser Packaging Solutions, WestRock Company etc.

Future Outlook

In line with the changing demand for sustainable and recyclable industrial packaging products, companies have been launching new and innovative products in the market. The present incarnation of package design and corporate responsibility, as well as the near future, are defined by sustainability. Sustainable packaging is emerging to be an excellent investment as well as a healthier choice for the environment. Concerns over the safe handling and recycling of packaging materials have prompted the implementation of new policies and legislation requiring businesses to recover their packaging materials.

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