Industrial Packaging Market size is poised to reach USD 151.37 Billion by the end of 2035, growing at a CAGR of 7.30% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of industrial packaging was over USD 64.99 Billion.The growth of the market can be attributed to the rising use of packaging in the food and beverage industries. Moreover, it is widely used for beverages packaging, so that it can be transported to various places. As per the reports, the total alcoholic beverage sales have increased to more than 200 Billion in the United States in the year 2021.
Industrial packaging aims to safeguard a product while it is being transported from one location to another. It may take place between companies or suppliers from the same sector. Additionally, it can be transported by truck, ship, plane, or train, among other modes. The industrial packaging must therefore be resistant to vibration and travel. Industrial packaging also contains materials in addition to this protection. It includes many instances of a product with the same final destination. And because it is made specifically for so many different things, it is unique and made of various materials. Large containers are available in wood, plastic, and corrugated cardboard. Even packaging that incorporates these and other materials, as well as the inclusion of additional materials to wrap the interior to safeguard the parts, is available.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~7.30% |
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Base Year Market Size (2022) |
~ USD 64.99 Billion |
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Forecast Year Market Size (2035) |
~ USD 151.37 Billion |
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Regional Scope |
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End-user (Automotive, Food & Beverages, Building & Construction, Pharmaceuticals, Chemical, Oil & Gas)
The industrial packaging market is segmented and analyzed for demand and supply by end user into automotive, food & beverages, building & construction, pharmaceuticals, chemical, oil & gas, and others. Out of these sub-segments, the food & beverages segment is estimated to gain the largest market share by the end of the year 2035. The growth of the segment can be attributed to the increasing number of people ordering food and beverages through e-commerce platforms, which increases the need for corrugated packaging. In addition, the packaging meets the need for the food safety requirements set by the regulatory bodies. Moreover, the industrial packaging is used for the preservation of food and beverage products while they are delivered from the manufacturers to the retailers. Therefore, all these attributes are predicted to increase the growth of the segment in the market. According to the survey, it is anticipated that the food and beverages. More than 80 percent of the people in India use food through delivery apps owing to the convenience.
Product Type (Crates, Snacks, Corrugated Box, Drums, Pails, Intermediate Bulk Containers (IBC))
The global industrial packaging market is also segmented and analyzed for demand and supply by product type into crates, snacks, corrugated box, drums, pails, intermediate bulk containers (IBC), and others. Amongst these three segments, the corrugated box segment is expected to garner a significant share of around ~46% in the year 2035. This can be attributed to the benefits attached to the corrugated box such as its high structural strength, and cushioning properties, which make it a better option for packing fragile products. Moreover, they are able to pack different varieties of products that are of different shapes and sizes. Moreover, they are able to transport goods and products that are delicate in nature. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.
Our in-depth analysis of the global Industrial packaging market includes the following segments:
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By End User |
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By Material |
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By Product Type |
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APAC Market Statistics
Industrial packaging market share in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about ~32% by the end of 2035. The growth of the market can be attributed majorly to the rapid growth of e-commerce in the country such as China, India, followed by the rising population. In addition, the increasing demand for industrial packaging from various industries, such as electronics, automotive, and others, is further anticipated to boost the growth of the market in the region. Furthermore, the surge in the number of working people, which increases the demand for ready to eat food products, is also expected to expand the market’s growth in the Asia Pacific region. In addition, there have been rising manufacturing activities in the emerging nations, for meet the demands of customers. All these, factors are expected to surge the growth of the Industrial packaging market by the end of 2035. According to the recent reports, the e-commerce penetration has reached to nearly 29 percent of the retail sales in China, as of 2022.
North American Market Forecast
The North America industrial packaging market is estimated to be the second largest, registering a share of about ~29% by the end of 2035. The growth of the market can be attributed majorly to the growing demand for convenient packaging options, that have become popular in the region. Furthermore, the surging investment by the market players for the development of the packaging sector is further projected to drive the growth of the market over the forecast period. Moreover, the increasing demand for packed and processed food and beverages in the region is another factor that is anticipated to expand the Industrial packaging market’s growth in the region in the upcoming years.
Europe Market Forecast
Further, the industrial packaging market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increasing consumer awareness related to the importance of sustainability, along with the growing strictness of the stringent regulations for banning the use of plastic products. In addition, the rapid industrialization, and improving standard of living among the population in the European region is further anticipated to surge the market’s growth in the region.
Author Credits: Sadaf Naaz, Mohd Shadab
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