How the Market Factors Affect/Impact on Industrial Packaging Market in Future

The global industrial packaging market size is projected to grow from USD 58.8 billion in 2020 to USD 72.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.3% during the forecast year.

Browse 141 market data tables and 46 figures spread through 197 pages and in-depth TOC on "Industrial Packaging Market by Product type, Material (Paperboard, Plastic, Wood, Metal), Application (Food & Beverage, Building & Construction, Pharmaceutical, Chemical, Automotive, Oil & Lubricant) and Region - Global Forecast to 2025"

According to the European Industrial Packaging Association (EIPA), “Industrial Packaging is, first and foremost, designed and manufactured to offer protection to the products during each phase of production operations such as storage and transport of spare parts, semi-finished and finished products. It is manufactured for numerous industries, such as chemical, automotive and food industries. Industrial packaging is especially suited for heavy, bulky or large goods and hazardous materials.”

The industrial packaging market has thousands of companies which thrive in their domestic market. A few of the major players are, Greif Inc. (US), Amcor (Australia), Berry Global Inc. (US), Mondi (South Africa) and Sonoco (US). These players have adopted various growth strategies, such as acquisitions, expansions & investments, new product developments, and agreements to increase their market shares and enhance their product portfolios.

Expansions and investments accounted for the largest share of all the strategic developments that took place in the industrial packaging market between 2016 and 2020. Key players such as Greif Inc. (US), and Mauser Packaging Solutions (Germany) adopted these strategies to enhance their market presence and strengthen their manufacturing and distribution capabilities in the industrial packaging market.

COVID-19 impact on global industrial packaging market

The global industrial packaging market is expected to witness a moderate decrease in its growth rate in 2020-2021, as the bulk packaging for chemicals, agriculture, construction amongst other applications, will witness a significant decline in its demand. However, there will be an increase in the demand for industrial packaging solutions for food & beverage and pharmaceutical applications, during COVID-19.

• People are resorting to panic-buying and bulk stocking due to the fear of lockdowns. More people are ordering daily staples and fresh food through online channels, which leads to an increase in the demand for bulk industrial packaging solutions. Governments of many affected countries, for instance, India, have asked the food industry players to ramp up production to avoid supply-side shocks and shortages and maintain uninterrupted supply. FMCG companies are responding by demanding more of industrial packaging products. For example, Britannia Industries has urged the Indian government to ensure interstate movements of suppliers of raw materials and packaging materials.
• The demand for industrial packaging in the pharmaceutical industry, is expected to remain robust as hospitals, drugs, and PPE manufacturers are responding to the crisis. The demand for household essentials, healthcare, and medical goods is not expected to decrease dramatically, and retail distribution for these types of products through online delivery can be expected to increase. This in turn, boosts the demand for industrial packaging solutions for the timely delivery of raw materials and finished goods to their respective end users.

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Food & beverage is estimated to be the largest segment in the industrial packaging market in 2019.

Food & beverage, by application, accounted for the largest demand for industrial packaging in 2019, in terms of value and volume. This dominant market position is attributed to the boost in the demand for industrial packaging solution across the food & beverage industry. People are resorting to panic-buying and bulk stocking due to the fear of lockdowns, in COVID-19 pandemic. More people are ordering daily staples and fresh food through online channels, which leads to an increase in the demand for bulk industrial packaging solutions.

The APAC region is projected to account for the largest share in the industrial packaging market during the forecast period.

The APAC region region is projected to lead the industrial packaging market, in terms of both value and volume from 2020 to 2025. Higher domestic demand, along with the availability of low-cost labor, makes this region the most attractive market for industrial packaging producers. Hence, the market players are focusing on this region to gain a larger share and increase their profitability. Factors such as improving global economy, expanding working population, and rising domestic demand for food and pharmaceutical products are expected to boost the market for industrial packaging.

Greif Inc. (Grief) is a key manufacturer of industrial packaging products & services, and it offers a range of industrial packaging products such as plastic drums, steel drums, fibre drums, reconditioned containers, intermediate bulk containers, flexible products, uncoated recycled paperboard, containerboard, coated recycled paperboard, tubes and cores. The company through its strategic developments aims to strengthen its customer base and product offering globally.

Berry Global Inc. is one of the key manufacturers and suppliers of a range of rigid and flexible industrial packaging products. Berry Global focuses on expanding its customer base in various regions by offering attractive products for industrial packaging. The company emphasizes on delivering high-quality tailor-made solutions to its customers and on manufacturing products that are designed using the latest unique manufacturing technologies. The company adopts various strategic initiatives to expand and accelerate its market presence and strengthen its customer base across the world.

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