Market Research Future (MRFR) has published a cooked research report on the “Global Transit Packaging Market” that contains information from 2018 to 2032. The Transit Packaging market is estimated to register a CAGR of 13.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Transit Packaging market— WestRock Company, Smurfit Kappa, International Paper, Inteplast Group, UNITED BAGS, INC, Ronpak., El Dorado Packaging, PackagingPro, CPS Paper Products, Flexoplas Packaging Ltd, Pakaflex Pty Ltd, Multifab Packaging, Pak-Line Limited, Polymax, Inc, Flex-Pak corporation, Boise Cascade, Celulosa Arauco Y Constitucion, Huber Wooden packagings LLC, Kahrs, Louisiana-Pacific Corporation, West Fraser, Patrick, Futamura, and Celanese Corporation
The global Transit Packaging market is accounted to register a CAGR of 13.50% during the forecast period and is estimated to reach USD 216.0 Billion by 2032.
Pharmaceutical industries' demand for transit packaging is rising, and the food and beverage industry is using transit packaging at an unprecedented rate, are the key market drivers enhancing the market growth.
The global transit packaging market has been segmented based product type, material type, packaging type, and end user.
On the basis of product type, the market is segmented into includes corrugated boxes, crates, pallets, and others. Corrugated boxes segment dominated the global market in 2022. Corrugated boxes are industrial containers made of compressed paper with a thin metal covering on the outside. As a result, they are solid, strong, and light.
Based on material type, the global transit packaging market has been segmented into polypropylene, polyethylene, polyvinyl chloride, ethylene vinyl alcohol, polyethylene terephthalate, polyurethane, wood, metal, and paper and paperboard. Polypropylene segment dominated the global market in 2022. High-density polypropylene (HDPE) and polypropylene (PE) plastic films are used to create packaging materials that withstand harsh weather, corrosion, and solvents.
Based on packaging type, the global transit packaging market has been segmented into wooden crates, barrels, strapping, intermediate bulk containers, corrugated boxes, containers, and cartons. Cartons segment dominated the global Transit Packaging market in 2022. The retail and consumer products sectors have experienced a significant increase in demand for cartons in recent years. Given that they improve material handling efficiency, cartons play a significant role in modern logistics when it comes to storing and moving goods.
Based on end user, the global transit packaging market has been segmented into consumer goods, third-party logistics, pharmaceuticals, industrial machinery and equipment, electrical and electronics, food and beverages, chemicals, building and construction, automotive, and e-commerce. Food and beverages segment dominated the global Transit Packaging market in 2022. This is due to the development of new products like flexible and rigid intermediate bulk containers and intermediate bulk containers.
The global Transit Packaging market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Transit Packaging market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Transit Packaging market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Transit Packaging market comprises of Middle East, Africa, and Latin America.
The largest market share for Transit Packaging was maintained by the North American regional sector. North America Transit Packaging Market dominated this market in 2022 (45.80%). The main food, beverage, and automobile producers in the United States, Mexico, and Canada are to blame for this. The ruggedness, accessibility, and low weight of plastic reusable storage containers are primarily responsible for the segment's highest share in 2022. Further, the U.S. Transit Packaging market held the largest market share, and the Canada Transit Packaging market was the fastest growing market in the North America region.
Europe Transit Packaging market accounted for the healthy market share in 2022. The primary drivers of the Europe transit packaging market are the growth of the e-commerce industry, the burgeoning shipping and logistics industry, the rising demand for robust packaging for perishable and fragile goods, as well as increased import and export activities. Further, the German Transit Packaging market held the largest market share, and the U.K Transit Packaging market was the fastest growing market in the European region.
The Asia Pacific Transit Packaging market is expected to register significant growth from 2023 to 2032. This is a result of the fast growing industrial sector in the area, especially in countries like India, China, and Japan. Additionally, raw materials like metal and plastic are extremely readily available in the area. Moreover, China’s Transit Packaging market held the largest market share and the Indian Transit Packaging market was the fastest growing market in the Asia-Pacific region.
LAMEA (Latin America, Middle East, and Africa) region was experiencing growth due to various factors such as expanding industrial activities, increasing trade, and rising e-commerce trends. The LAMEA region, which encompasses diverse economies and industries, has been witnessing an increase in trade activities, both within the region and with other parts of the world. This growth has been driven by factors such as population growth, urbanization, and efforts to diversify economies. In addition, the rise of e-commerce has also contributed to the growth of the transit packaging market in LAMEA. The increasing number of online retail platforms and the growing preference for online shopping have led to a higher demand for secure and efficient packaging solutions to ensure safe delivery of products.
Key Findings of the Study