The latest market report published by Credence Research, Inc. “Global Industrial Packaging Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The global industrial packaging market generated revenue of around USD 59.1 billion in 2021 and is anticipated to grow a CAGR of over 4.50% during the forecast period from 2022 to 2028 to reach around USD 76.96 billion in 2028.
A major factor driving the growth of the industrial packaging market will be increased imports and exports worldwide, growing construction and building activities, rising demand for feasible packaging solutions, and the increasing food and beverage industry will contribute the most to profits made by key players in the global market. Furthermore, the demand for lightweight and easy-to-use packaging solutions is responsible for the increased demand for corrugated boxes and easy-to-use packaging solutions. All these factors mentioned above contribute to the overall growth of the market.
The global industrial packaging market is bifurcated into Type, Material, Application and Geography. Based on type, the market is categorized into drums, IBCs, sacks, crates, pails, corrugated boxes, and others (including pallets, wrap films, wrapping strips, and flexible packaging materials). On the basis of material, the global market is segmented into plastic, wood, metal, and paperboard. On the basis of applications, the global market is segmented into food & beverage, automotive, pharmaceutical, chemical, oil & lubricant, building & construction, and others (including rubber & plastic, agricultural, and metal fabrication). Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Browse Global Industrial Packaging Market report-https://www.credenceresearch.com/report/industrial-packaging-market
In 2021, Asia Pacific dominated the global industrial packaging market and accounted for a major market revenue share in terms of value. The market for industrial packaging is expected to be boosted by factors including improving global economy, an growing working population, and rising domestic demand for convenience foods. Further, due to the rising population and currency rate, the country is expected to experience tremendous growth during the forecast period.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global industrial packaging market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level
- In-depth analysis of the global industrial packaging market segmentation based on type, material, and applications.
- The global industrial packaging market report also includes analyzing the global, regional, and country level, along with key market trends, significant players analysis, market growth strategies, and key application areas.
The Industrial Packaging Market is Segmented into:
|Forecast Period||2022 – 2028|
|Historical Year||2016 – 2021|
|Segmentation|| By Type (2016–2028; US$ Bn)|
By Material (2016–2028; US$ Bn)
By Application (2016–2028; US$ Bn)
By Geography Segment (2016–2028; US$ Bn)