Industrial Packaging Market Size
The Industrial Packaging Market had a high CAGR in 2023 and will have a high CAGR from 2024 to 2032 because demand from significant sectors is rising. Some of the businesses that need good packaging for their products are food and drink, pharmaceuticals, and cars. The need for packaging that is safe, effective, and fresh grows as these sectors grow and evolve. The industrial packaging sector is so vast because companies need reliable packaging options to meet the needs of these increasing industries.
For instance, UFlex Limited launched a variety of new goods in several fields in November 2022 to fulfill the needs of changing clients. These featured the Flexcure Nutri series, flexible packaging, and huge MPP and WPP packaging bags.
The market for industrial packaging is increasing significantly because more and more individuals need packaging for medications and medical gadgets. As the healthcare business gets bigger, there is a bigger need for packaging that is safe, can't be opened, and retains medical products at the appropriate temperature. The healthcare business needs innovative packaging materials and technologies that satisfy its needs because of the rise in demand.
In September 2023, Pluss Advanced Technologies (PLUSS), a business that develops phase-change materials (PCMs), came out with Celsure® XL and Celsure® VIP, two new temperature-controlled packaging solutions for the pharmaceutical industry. These options are better and cheaper than rental containers and standard gel pack alternatives.
The industrial packaging company is doing well, but the market is having a hard time growing because of rigorous laws and economic downturns. But these restrictions push for alternatives that are better for the environment, which makes scientists look into additional materials that are beneficial for the environment. Also, because the economy is unstable, we need to create packaging solutions that are both affordable and effective. This pushes people to be creative when it comes to design and production. By perceiving these issues as chances to expand, the industry may be able to come up with robust plans that suit the needs of the market as they change.
Industrial Packaging Market Trends
The industrial packaging industry is rising because more and more people want packaging that can be used again and again and because more and more people want materials that are good for the environment. Businesses are making more environmentally friendly choices as consumers learn more about how their actions effect the environment. This includes materials that can be reused or recycled and that don't create a lot of waste. This is what customers desire and what the law states. As companies put sustainability first, this trend keeps pushing innovation and market growth.
Pakka Limited, which used to be called Yash Pakka Limited, made India's first compostable flexible packaging in October 2023. This was a significant step forward for packaging that is good for the environment.
Industrial Packaging Market Analysis
There will be a lot of growth in the intermediate bulk containers (IBC) market between 2024 and 2032 since IBCs are affordable and adaptable. These containers are ideal for transferring and storing a lot of different things, such chemicals, food, and drinks. As more individuals look for safe and easy methods to store items, IBC storage will keep rising. It will be a big part of the industrial packaging sector because it can carry a number of different things and is still sturdy and long-lasting.
The plastic material industry will be quite strong in the market by 2032 since it is cheap, flexible, and lasts a long time. There are many various types of plastics, such as HDPE and PET, that can be used for packaging in different industries. They are cheaper to ship and leave a smaller carbon footprint because they are light. Also, advances in plastic technology have made it stronger and better at keeping things out, which keeps the product safe. Because of these benefits, plastic will continue to be the most common material for packaging in many industries.
The flexible packaging industry will have the biggest proportion of the industrial packaging market by 2032 since it is so beneficial and lasts a long time. There are several types of flexible packaging, including bags, pouches, and wraps. It fits nicely with things of all shapes and sizes, which makes it easy to keep and transport. It is lighter, so it requires less material and costs less to ship, yet it still keeps the product fresh. A lot of businesses utilize this kind of packaging since it can be reused and is flexible. This form of packaging will stay at the top of the market as more people want environmentally friendly options.
By 2032, the food and drink business will grow a lot because there will be a lot of demand for safe and useful packaging. There are rigorous restrictions in this market, and buyers want things to be fresh and easy to use, therefore they need strong packaging. You may get a lot of different kinds of packaging, like pouches and bottles. New concepts like modified environment packaging make items endure longer, and employing eco-friendly materials aligns with goals for sustainability. As the food and drink industry grows, this part will stay at the top, meeting the wants of a changing consumer.
From 2024 to 2032, North America will develop at an impressive CAGR since the region has a strong industrial sector, strict packaging rules, and a strong focus on sustainability. North American enterprises are important to the growth of the market since they have a strong infrastructure and cutting-edge technologies. Their focus on eco-friendly products fits with changing customer needs, which makes them a major player in the industrial packaging sector projections.
Industrial Packaging Market Share
- Mauser Group (BROCKWAY STANDARD HOLDINGS CORP,
- CD&R Millennium HoldCo 2 BV)
- BAG Corporation
- Bulk handling
- Chem-Tainer industries
- Halsted Corporation
- Wuxi Sifang Drums Limited Company
- Sealed Air Corporation
- International Paper
- Tekni-Films
- Sonoco
- Schutz
- Amcor Limited
- WestRock
- Mondi Group
- Bemis Company
- AmeriGlobe
- Hoovers Container Solutions (Hoover Ferguson Group, Inc.)
- Jumbo Bag
- Orora Group
- Greif Inc
- East India Drums and Barrels Manufacturing
- Corr-Pak Corporation
- Sigma Plastics Group
- Nefab
- Intertape Polymer Group
- LC packaging
Major players are strategically enhancing their industry foothold through diverse initiatives. By focusing on innovative solutions tailored to industry needs, they have carved out a niche for themselves. These players emphasize sustainability, responding to growing demands for eco-friendly packaging options. Their offerings boast a blend of durability and environmental consciousness, appealing to a clientele increasingly conscious of their carbon footprint. Leveraging advanced materials and technologies, they provide customizable solutions catering to diverse sectors from automotive to electronics.
Moreover, these industry leaders are adept at cultivating robust partnerships throughout the supply chain, guaranteeing smooth integration and dependable distribution channels. Their unwavering dedication to top-notch quality and exceptional service cements their standing, cultivates trust, and fosters loyalty among their clientele. With ongoing investments in research and development, these players are primed to advance even further, pushing boundaries and reshaping the industrial packaging market outlook.
Industrial Packaging Industry News
In August 2022, BASF and Nippon Paint China collaborated to introduce innovative eco-packaging for industrial use in China. This sustainable packaging, featuring BASF's Joncryl® High-Performance Barrier (HPB) water-based acrylic dispersion, is now utilized in Nippon Paint's dry-mixed mortar series, enhancing the eco-friendliness of their construction products.
In November 2023, UFlex introduced a lineup of sustainable and innovative products across its business sectors in Q2 FY24. The new offerings feature B-TAS transparent anti-fog low SIT BOPP films, Flexgreen LED Inks, sustainable festive pack packaging, reverse embossed with LED, and CWR white opaque retort-grade CPP film.
What Information does this report contain?
Historical data coverage 2018 to 2023; Growth Projections 2024 to 2032.
Expert analysis industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts major segments covering applications, top products and geographies.
Competitive landscape reporting market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.
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