Industrial Packaging Global Market Market Statistics, Top Key Players Report To 2032

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The Industrial Packaging Global Market Report 2023 by The Business Research Company, provides industrial packaging market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/industrial-packaging-global-market-report

According to The Business Research Company’s Industrial Packaging Global Market Report 2023, the global industrial packaging market size grew from $69.66 billion in 2022 to $75.04 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The market size of the global industrial packaging is expected to grow to $95.3 billion in 2027 at a CAGR of 6.2%.

An increase in demand for food products across the globe is expected to propel the growth of the industrial packaging market. Demand for packaged foods is rising as a result of changes in consumer preferences, governmental regulations, and food storage. Many consumers now choose packaged food over unpackaged food as a result of the epidemic’s growing food safety issue.

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The industrial packaging market is segmented:

1) By Product: Drums, Intermediate Bulk Containers (IBCs), Sacks, Pails, Crates/Totes

2) By Material: Paperboard, Plastic, Metal, Wood, Fiber

3) By Application: Chemical And Pharmaceutical, Building And Construction, Food And Beverage, Oil and Lubricant, Agriculture And Horticulture, Others (Plastics And Rubber, Automobile, Engineering, And Other Metal Products)

Technological advancement is a key trend gaining popularity in the industrial packaging market. Artificial intelligence is helping firms employ computers and algorithms to produce better packaging solutions. AI is used in inspection, data labeling, recycling products, and various other applications. In April 2022, DHL Supply Chain announced a new on-demand packaging option to its business clients to make shipments more cost-effective and ecologically responsible. The AI-powered OptiCarton technology will aid in the optimization of box filling from a pre-configured set of cartons and even recommend breaking orders into many consignments to make individual shipments more cost-effective or lessen their carbon impact.

The industrial packaging market report table of contents includes: