Food & beverage is estimated to be the largest segment in the industrial packaging market by 2025

CITY, Country, 2021-Oct-20 — /EPR Network/ —

According to DS Smith, a packaging manufacturer, Industrial packaging refers to the packaging solutions, which provide protection during each phase of manufacture, 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 growth of this market is attributed to the increase in the demand for bulk packaging products globally due to the surge in demand for  foodstuffs and pharmaceutical goods during the COVID-19 pandemic. The growth in the end-use industries (such as chemical, food & beverage, and pharmaceutical) has generated new opportunities for the industrial packaging market. However, factors such as volatility in the raw material prices may inhibit the growth of the market.

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MarketsandMarkets expects the global industrial packaging market size to grow from USD 58.8 billion in 2020 to USD 72.6 billion by 2025, at a CAGR of 4.3% from 2020 to 2025. The market for industrial packaging is segmented, on the basis of product type, into drums, IBCs, crates, sacks, corrugates boxes, pails, and others (include pallets, wrap films, wrapping strips, and flexible packaging materials). Corrugated boxes is projected to dominate the market for industrial packaging by 2025. The industrial packaging market has witnessed a significant increase in the demand for corrugated boxes for the supply of goods to the grocery stores, retailers, pharmacies, and hospitals, during the COVID-19 pandemic. Furthermore, the increasing opportunities in e-commerce and offline retail sectors have resulted in accelerating demand for corrugated boxes in packaging applications.

On the basis of application, food & beverage is projected to be the largest segment in the industrial packaging  market during the forecast period. The increase in exports of food grains from Southeast Asia and Europe is expected to boost the demand for industrial packaging, by 2025. Distributors of food grains prefer Flexible Intermediate Bulk Containers (FIBC) over other types of industrial packaging products, due to their low cost and higher operational efficiency. Furthermore, dry containers and bulk sacks are widely used for the transportation and storage of grains.

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The industrial packaging market is studied for five regions, namely, North America, APAC, Europe, Middle East & Africa and South America. The APAC region accounted for the largest market share in 2019, in terms of both value and volume. Furthermore, the market for industrial packaging in the APAC region is projected to grow at the highest CAGR from 2020 to 2025, in terms of both value and volume.

The growth of the industrial packaging market is attributed to the increase in demand from various end-use applications. Consumers are resorting to panic-buying and bulk stocking due to the fear of lockdowns during the COVID-19 pandemic. Increasing number of people are ordering daily staples and fresh food through online channels, which leads to an increase in the demand for industrial packaging solutions.

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