A significant rise in global trade and increase in industrialization in many developing countries drive the growth of the global industrial packaging market.

WILMINGTON, Del., May 8, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Industrial Packaging Market by Product Type (Drums, IBCs, Sacks, Pails, Crates/Totes), Material (Paperboard, Plastic, Metal, Wood, Fiber), and Application (Chemical and Pharmaceuticals, Building and Construction, Food and Beverages, Oil and Lubricants, Agriculture and Horticulture, Others): Global Opportunity Analysis and Industry Forecast, 2023-2033". According to the report, the "industrial packaging market" was valued at $65.9 billion in 2023, and is estimated to reach $99.6 billion by 2033, growing at a CAGR of 4.3% from 2024 to 2033.

Download Sample Copy: https://www.alliedmarketresearch.com/request-sample/2234 

Prime determinants of growth

The industrial packaging market is influenced by several key drivers and opportunities, alongside certain restraints. The rising industrialization in developing countries serves as a significant driver, fueling the demand for industrial packaging solutions across various sectors. Additionally, the growth of global trade presents another driver, as it necessitates efficient and robust packaging solutions to facilitate the movement of goods across borders. Amidst these drivers, opportunities emerge for the development of sustainable industrial packaging solutions, driven by increasing awareness of environmental concerns and the need for eco-friendly alternatives. However, the market also faces restraints, such as varying statutory guidelines related to packaging in different countries. These differences can pose challenges for companies operating in multiple regions, requiring them to navigate diverse regulatory landscapes to ensure compliance and consistency in their packaging practices. Despite these challenges, the industrial packaging market continues to evolve, driven by innovation and a growing emphasis on sustainability.

Report coverage & details:

The Crates/Totes segment to maintain its leadership status throughout the forecast period

Based product type, the sacks segment held the highest market share in 2023, accounting for nearly one-fourth of the global industrial packaging market revenue, and is estimated to maintain its leadership status throughout the forecast period. Crates and totes provide reusable and stackable solutions for handling and shipping a variety of goods, offering durability and ease of handling in manufacturing, distribution, and logistics operations. On the other hand, the IBCs segment is projected to manifest the highest CAGR of 5.7% from 2024 to 2032. Intermediate Bulk Containers (IBCs) offer a convenient and cost-effective solution for bulk liquid storage and transportation, with capacities ranging from hundreds to thousands of gallons.

Buy This Research Report 245 Pages PDF with Insights, Charts, Tables, Figures):   

https://www.alliedmarketresearch.com/checkout-final/7a5a17272ee9694967d3b017de42f4f7 

The Plastic segment to maintain its leadership status throughout the forecast period

Based on material, the plastic segment held the highest market share in 2023, accounting for nearly half of the global industrial packaging market, and is estimated to maintain its leadership status throughout the forecast period. Plastic packaging offers lightweight, durable, and flexible solutions for a range of industries, including food and beverage, healthcare, and consumer goods, with options such as bags, films, bottles, and containers. However, the fiber segment is projected to manifest the highest CAGR of 6.4% from 2024 to 2032. Fiber packaging, made from materials like corrugated cardboard and molded pulp, provides cushioning and protection for fragile or sensitive products, offering eco-friendly and recyclable alternatives for packaging needs.

The Chemical and Pharmaceuticals segment to maintain its lead position during the forecast period

Based on application, the chemical and pharmaceuticals segment accounted for the largest share in 2023, contributing to more than one-third of the global industrial packaging market revenue, and is projected to maintain its lead position during the forecast period. In chemical and pharmaceutical sectors, packaging ensures safe transportation of hazardous materials. However, the food and beverages segment is expected to portray the largest CAGR of 5.0% from 2024 to 2032. The food and beverages sector is growing as the disposable income of people in general is rising across the world.

Asia-Pacific to maintain its dominance by 2033

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for nearly half of the global industrial packaging market revenue, and is likely to dominate the market during the forecast period. Additionally, the Asia-Pacific region is expected to witness the fastest CAGR of 4.7% from 2024 to 2033. The Asia-Pacific region presents many growth opportunities to the major players in the industrial packaging market, owing to rapid industrialization in the countries such as India and China.

Inquire Before Buying:  https://www.alliedmarketresearch.com/purchase-enquiry/2234 

Leading Market Players: -

• Grief, Inc.
• Mondi PLC.
• Amcor Limited
• Westrock Company
• International Paper Company
• Bemis Company Inc.
• Orora Limited
• Mauser Group
• Sigma Plastics Group
• Wuxi Sifang Drums Limited Company

The report provides a detailed analysis of these key players in the global industrial packaging market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Trending Reports in Packaging Industry:

Hazmat plastic packaging market is projected to reach $9.3 billion by 2032

Glass Packaging Market is projected to reach $77.5 billion by 2032

Packaging Solutions Market is projected to reach $1.6 trillion by 2031

Insulated Shipping Packaging Market is projected to reach $13.7 billion by 2031

Anti-Corrosive Packaging Market is projected to reach $1223.6 million by 2031

Packaging Robots Market is projected to reach $14,475.0 million by 2030

Pre-Book Now with 10% Discount: 

Self  heating Food Packaging Market: global Opportunity Analysis and Industry Forecast, 2023-2032

Cement packaging Market: global Opportunity Analysis and Industry Forecast, 2023-2032

Nutraceutical Packaging Market: global Opportunity Analysis and Industry Forecast, 2023-2032

Plastic Corrugated Packaging Market: global Opportunity Analysis and Industry Forecast, 2023-2032

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

 We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

Wilmington, Delaware
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle, Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/industrial-packaging-market-to-reach-99-6-billion-globally-by-2033-at-4-3-cagr-allied-market-research-302139630.html