Industrial Packaging Market Size, Share, and Trends

Industrial Packaging Market (By Product Type: Drums, IBC’s, Sacks, Crates, Corrugated boxes, Pails, Others; By Material: Plastic, Metal, Wood, Others; By End-Users: Automotive, Food & Beverage, Pharmaceuticals, Oil and lubricant, Construction, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

  • Last Updated : April 2023
  • Report Code : 2855
  • Category : Packaging

Industrial Packaging Market Size and Manufacturers

The global industrial packaging market size was evaluated at USD 69.52 billion in 2022 and is expected to hit around USD 123.21 billion by 2032, poised to grow at a CAGR of 5.89% during the forecast period from 2023 to 2032.

Industrial Packaging Market Revenue 2023 To 2032

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Key Takeaways:

  • North America generated the maximum market share in 2022.
  • Asia Pacific is predicted to expand at the fastest CAGR between 2023 and 2032.
  • By product, the corrugated boxes segment is expected to register a significant increase during the forecast period. Whereas the intermediate bulk containers segment will maintain its growth during the period analyzed.
  • By material, the metal segment will acquire a significant share of the market. On the other hand, the plastic material segment will continue to grow significantly in upcoming years.
  • By end-users, the food & beverage segment is expected to experience a noticeable increase during the forecast period.

Industrial Packaging Market Overview:

The industrial packaging market refers to the global market for packaging materials and solutions used for industrial applications. This includes packaging solutions used to transport and protect goods during manufacturing, storage, and distribution. The industrial packaging market includes a wide range of packaging materials and products, such as plastic bags, containers, drums, pallets, crates, and boxes. These packaging solutions are used across different industries, such as food and beverage, pharmaceuticals, chemicals, construction, and automotive, among others.

  • A global market leader, Mondi released its financial report for the year 2022. In June 2022, the company completed its sales of 615 million Euros for sustainable packaging solutions specially designed for personal care components. In the same year, Mondi acquired Duino Mill near Italy with a production plan of 4,20,000 tones per annum of high-quality corrugated packaging.
  • Headquartered in New Jersey, Sigma Plastic Group is the leading market player in the industrial packaging market. For the year 2022, the company’s peak revenue was $2.4 billion.
  • According to the report published by All County Recycling, the United States consumes approximately 80 billion corrugated cartons in one year. At the same time, the country is focused on recycling corrugated cartons. Used corrugated cartons are recycled into cereal boxes and new cardboard.
  • The corrugated industry has predicted a spike of 3-% in the demand for corrugated boxes from 2022 to 2025. The increased demand is attributed to rising consumer preferences and an increasing focus on sustainability in packaging solutions. The sharp spike is observed to boost the market of corrugated boxes in the industrial packaging industry.

Growth Factors:

The industrial packaging market is expected to grow during the forecast period owing to the generating trends in the packaging industry including digital printing and customized packaging. In addition, the rising demand for sustainable and reusable packaging solutions from the electronics industry is another factor to supplement the overall growth of the industrial packaging market. For instance, in November 2022, Sony announced the utilization of plastic packaging for small electronic devices. The company has also announced to start using natural blend material for packaging.

In addition, governments around the world are implementing regulations to ensure that industrial packaging materials are safe for consumers and the environment. These regulations are observed to boost the production of industrial packaging in a sustainable way. Along with the rising demand for sustainable packaging solutions from multiple industries, technological advancements in packaging solutions are observed to fuel the market’s growth. Technological advancements have led to the development of new packaging materials, such as biodegradable and compostable materials, which are environmentally friendly and have better properties than traditional packaging materials.

Industrial Packaging Market Scope:

Report Coverage Details
Market Size in 2023 USD 73.61 Billion
Market Size by 2032 USD 123.21 Billion
Growth Rate from 2023 to 2032 CAGR of 5.89%
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered By Product Type, By Material and By End-Users
Regions Covered North America, Europe, Asia-Pacific, Latin America and Middle East & Africa


Industrial Packaging Market Dynamics:

Driver:

Increasing advancements in packaging technology

The global packaging market is witnessing exemplary innovation. Smart packaging technology, 3D printing for packaging, active packaging and nanotechnology are a few recently launched technologies in the packaging industry. Such advancements in packaging technology are intended to act as a driver for the growth of the industrial packaging market in the upcoming period. The rising advancements in the packaging industry are also helping the production and supply chain cycle for large-scale industries.

In July 2022, PACORR unveiled their advanced and massively upgraded testing machine for the global packaging industry. The new Box Compressor Tester is stated to help manufacturers to test and check the quality of corrugated boxes and other packaging materials.

Restraint:

Fluctuations in the prices of raw material

The manufacturing process of industrial packaging involves multiple raw materials, including plastic, paper, metal, and others. The fluctuations caused in the prices of such materials due to production and supply chain issues apparently restrain the growth of the industrial packaging market. The continuously rising or fluctuating prices of raw materials limit market players from adopting a rigid and fixed packaging system for long-term practices.

In addition, fluctuating prices can cause ineffective management of companies' budgets. Fluctuating raw material prices can create uncertainty in the pricing of industrial packaging products. Packaging manufacturers may find it challenging to accurately estimate their production costs and set product prices, which can lead to pricing volatility. This uncertainty in pricing can impact buyers' decision-making process and make it difficult for manufacturers to negotiate contracts or secure long-term commitments from customers, ultimately affecting the stability of the industrial packaging market.

Opportunity:

Rising demand for customized solutions from various industries

The rising demand for customized solutions from various industries presents significant opportunities for the industrial packaging market, different sectors have different packaging needs, and manufacturers can capitalize on this by developing customized packaging solutions for specific industries. This can include packaging solutions designed to meet specific regulatory requirements or optimized for a particular industry's unique needs.

The demand for customized solutions can drive innovation in the industrial packaging market. As industries seek packaging solutions that meet their specific requirements, there is a growing need for innovative and differentiated packaging solutions. This can include advancements in packaging materials, designs, functionality, sustainability features, and technology integration, such as IoT-enabled packaging or smart packaging solutions. Industrial packaging manufacturers offering innovative and differentiated customized solutions can gain a competitive edge and capitalize on the growing demand for unique and value-added packaging solutions.

Product Insights:

By product, the global industrial packaging market is segmented into Drums, IBCs, Sacks, Crates, Corrugated boxes, Pails, and Others. The corrugated boxes segment is expected to achieve a noticeable growth during the forecast period. The emerging e-commerce business line is anticipated to promote the demand for corrugated boxes throughout the analyzed period. In addition, the end-user expansion is intended to propel the segment’s growth.

According to the report published by Statista in March 2023, the worldwide production of corrugated cardboard was estimated to be over 190 million tones in 2022. Corrugated cardboard is used in multiple packaging industries, from electronics to food and beverages.

On the other hand, the intermediate bulk containers segment is observed to remain the most lucrative segment of the market during the forecast period, and the cost-effectiveness and availability of versatile material in IBCs are monitored to maintain the segment’s growth. The demand for IBCs is intended to rise from the chemical, paint, coatings, and pharmaceutical industries owing to the beneficial factor of carrying materials in unreactive matters.

Material Insights:

The plastic segment is observed to remain the most attractive segment of the market during the forecast period; the extended shelf life provided by plastic packaging material is regarded as a driver for the segment’s growth; food and beverages, pet care, and pharmaceuticals industries are more likely to choose advanced plastic packaging.

Metal material is another leading segment of the market; metal is another prominent choice of packaging for non-edible products. The segment’s growth is attributed to quality, durability, rapidly changing consumer preferences, and metal material strength. In addition, metal is considered a fire-resistant material that minimizes the risk of fire and other potential hazards in multiple industries, including chemical, oil and gas, and other manufacturing plants. The resistance and durability properties of metal material, along with the easy availability in many regions, are supplementing the segment’s growth.

End-User Insights:

The food and beverages segment dominated the market in 2022; the segment is expected to maintain its dominance due to the projected timeframe. The focus on preserving food items and regulatory compliance for food packaging has driven the segment’s growth in recent years. Additionally, the convenience of food transportation offered by industrial packaging has supported the development of the food and beverages segment. Industrial packaging is often designed to be easy to handle, transport, and store. It may include handles, resealable closures, and stackability, making it more convenient for food manufacturers, distributors, and retailers to handle and transport large quantities of food products efficiently.

The oil and lubricant is expected to be the most lucrative segment during the forecast period. Industrial packaging in the oil and lubricant industry is designed to be compatible with standard handling and transportation equipment, such as forklifts, pallet jacks, and shipping containers. This allows for efficient loading, unloading, and transportation of oil and lubricant products, saving time and effort in logistics operations.

Moreover, the cost-effectiveness and leakage prevention offered by industrial packaging for products in the oil and lubricant industry are observed to maximize the utilization of packaging solutions during the forecast period. Oil and lubricant products are often shipped and stored in bulk, which can pose a risk of leakage or spillage. Industrial packagings, such as drums and IBCs, are designed with features such as seals, closures, and bungs that help prevent leakage and spills, ensuring that the products are contained safely and minimizing the risk of environmental damage or accidents.

Regional Insights:

North America holds the largest share of the global industrial packaging market, and the region is expected to sustain its dominance during the forecast period. Already established industries, the presence of advanced packaging technologies in the region, and the availability of potential market players are significant factors for the growth of the industrial packaging market.

The United States industrial packaging market is a substantial segment of the global industrial packaging market, with the United States being one of the largest economies in the world. The US industrial packaging market is characterized by a wide range of packaging solutions used across various industries, including automotive, food and beverages, pharmaceuticals, chemicals, construction, electronics, and more.

Industrial Packaging Market Share, By Region, 2022 (%)

Asia Pacific is the fastest-growing region for the industrial packaging market; the region is also witnessing rapid urbanization and population growth, leading to increased consumption of goods and higher demand for industrial packaging. Urbanization is accompanied by the development of industries such as food and beverages, consumer goods, automotive, electronics, and more, which require robust and effective packaging solutions.

The Asia Pacific region has experienced significant growth in e-commerce and logistics activities, increasing online shopping trends, and changing consumer behaviors. E-commerce relies heavily on efficient packaging for safe transportation and delivery of goods, creating a demand for industrial packaging solutions suitable for e-commerce and logistics operations. In addition, food and beverage and retail industries are expected to increase the consumption of packaging solutions in countries such as India and China.

India is one of the significant marketplaces for industrial packaging in Asia Pacific; rising government support towards the packaging industry and emerging industrialization are significant drivers for the nation’s growth in the industrial packaging market. The Indian government has started supporting small-scale businesses with substantial incentives, low taxes, and subsidies in order to encourage business.

Recent Developments:

  • In April 2023, a global leader in eco-friendly packaging options, Ranpak Holdings Corporation, announced the launch of sustainable and biodegradable packaging solutions in the form of ‘Gaemi MS Mini,’ a plastic-free wrapping solution as an alternative to bubble-wrapped packaging. The new wrapping solution is observed as an ideal solution for the warehouse.
  • In April 2023, Tesco announced the launch of the first recyclable packaging for its pre-prepared food tray packaging. The change from the company is done under strategic collaboration with leading packaging manufacturer, Faerch. With this collaboration, approximately 30% recycled tray content will be included in Tesco’s meal tray.
  • In February 2023, Cruz Foam announced the launch of new sustainable packaging material in the form of foam packaging material. The new packaging solution aims to ship fragile and temperature-sensitive goods. The Cruz Foam aims to replace bubble wrap, bubble mailers, and other plastic packaging solutions.
  • In August 2022, BASF and Nippon Paint China announced the launch of industrial packaging solution with an eco-friendly option; the new eco-friendly packaging solution has been adopted for Nippon Paint’s mixed mortar series products. The newly launched product aims to reduce the use of plastic packaging by promoting sustainability.

Industrial Packaging Market Companies:

The global industrial packaging market is fragmented with multiple small-scale and large-scale companies that are involved in the production, distribution and consumption of industrial packaging solutions. A few of them include:

  • Orora Limited
  • Sigma Plastics Group
  • Amcor
  • Mondi
  • Sononco
  • International Paper
  • Greif Inc

Segments Covered in the Report:

By Product Type

  • Drums
  • IBC’s
  • Sacks
  • Crates
  • Corrugated boxes
  • Pails
  • Others

By Material

  • Plastic
  • Metal
  • Wood
  • Others

By End-Users

  • Automotive
  • Food & Beverage
  • Pharmaceuticals
  • Oil and lubricant
  • Construction
  • Others 

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Frequently Asked Questions

The global industrial packaging market size is expected to increase USD 123.21 billion by 2032 from USD 69.52 billion in 2022.

The global industrial packaging market will register growth rate of 5.89% between 2023 and 2032.

The major players operating in the industrial packaging market are Orora Limited, Sigma Plastics Group, Amcor, Mondi, Sononco, International Paper, Greif Inc and Others.

The driving factors of the industrial packaging market are the increasing advancements in the packaging technology, increasing international trade, and the need for sustainable packaging solutions.

North America region will lead the global industrial packaging market during the forecast period 2023 to 2032.

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Industrial Packaging Market 

5.1. COVID-19 Landscape: Industrial Packaging Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Industrial Packaging Market, By Product Type

8.1. Industrial Packaging Market Revenue and Volume, by Product Type, 2023-2032

8.1.1 Drums

8.1.1.1. Market Revenue and Volume Forecast (2020-2032)

8.1.2. IBC’s

8.1.2.1. Market Revenue and Volume Forecast (2020-2032)

8.1.3. Sacks

8.1.3.1. Market Revenue and Volume Forecast (2020-2032)

8.1.4. Crates

8.1.4.1. Market Revenue and Volume Forecast (2020-2032)

8.1.5. Corrugated boxes

8.1.5.1. Market Revenue and Volume Forecast (2020-2032)

8.1.6. Pails

8.1.6.1. Market Revenue and Volume Forecast (2020-2032)

8.1.7. Others

8.1.7.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 9. Global Industrial Packaging Market, By Material

9.1. Industrial Packaging Market Revenue and Volume, by Material, 2023-2032

9.1.1. Plastic

9.1.1.1. Market Revenue and Volume Forecast (2020-2032)

9.1.2. Metal

9.1.2.1. Market Revenue and Volume Forecast (2020-2032)

9.1.3. Wood

9.1.3.1. Market Revenue and Volume Forecast (2020-2032)

9.1.4. Others

9.1.4.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 10. Global Industrial Packaging Market, By End-Users 

10.1. Industrial Packaging Market Revenue and Volume, by End-Users, 2023-2032

10.1.1. Automotive

10.1.1.1. Market Revenue and Volume Forecast (2020-2032)

10.1.2. Food & Beverage

10.1.2.1. Market Revenue and Volume Forecast (2020-2032)

10.1.3. Pharmaceuticals

10.1.3.1. Market Revenue and Volume Forecast (2020-2032)

10.1.4. Oil and lubricant

10.1.4.1. Market Revenue and Volume Forecast (2020-2032)

10.1.5. Construction

10.1.5.1. Market Revenue and Volume Forecast (2020-2032)

10.1.6. Others

10.1.6.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 11. Global Industrial Packaging Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.1.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.1.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.1.4. U.S.

11.1.4.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.1.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.1.4.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.1.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.1.5.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.2. Europe

11.2.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.2.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.2.4. UK

11.2.4.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.2.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.4.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.2.5. Germany

11.2.5.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.2.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.5.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.2.6. France

11.2.6.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.2.6.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.6.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.2.7.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.7.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.3. APAC

11.3.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.3.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.3.4. India

11.3.4.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.3.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.4.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.3.5. China

11.3.5.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.3.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.5.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.3.6. Japan

11.3.6.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.3.6.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.6.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.3.7.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.7.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.4. MEA

11.4.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.4.4. GCC

11.4.4.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.4.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.4.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.4.5. North Africa

11.4.5.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.4.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.5.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.4.6. South Africa

11.4.6.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.4.6.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.6.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.4.7.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.7.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.5. Latin America

11.5.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.5.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.5.4. Brazil

11.5.4.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.5.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.5.4.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Volume Forecast, by Product Type (2020-2032)

11.5.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.5.5.3. Market Revenue and Volume Forecast, by End-Users (2020-2032)

Chapter 12. Company Profiles

12.1. Orora Limited

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Sigma Plastics Group

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Amcor

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Mondi

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Sononco

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. International Paper

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Greif Inc

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

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