Industrial Packaging Market Size was valued at USD 62.56 billion in 2023. The Industrial Packaging industry is projected to grow from USD 66.00 Billion in 2024 to USD 96.01 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.80% during the forecast period (2024 - 2032). The increasing volume of resources and products being transported across various regions and rising demand for sustainable packaging materials from various industries are the key market drivers enhancing the market growth. 
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for industrial packaging is being driven by import and export activities. The use of shipping containers to ensure the safety of industrial equipment during transportation has also contributed to this growth. Additionally, the rise in international trading and construction and building activities are among the other factors driving the market growth. The market growth is further fueled by the growing demand for practical packaging solutions. This demand is largely due to the need for lightweight and user-friendly packaging, which has led to an increase in demand for corrugated boxes.
Additionally, increase in international trade, the rise in construction activities, the growth of the food and beverage industry, the demand for eco-friendly packaging solutions, the demand for lightweight packaging solutions, and technological advancements attributed to the growth of the industrial packaging market. The increase in international trade has been a significant driver of the industrial packaging market. With ization, more and more businesses are looking to expand their operations across borders. This has resulted in a surge in demand for industrial packaging solutions, which provide safety and protection to goods during transportation, reducing the risk of damage.
The rise in construction activities has also contributed to the growth of the industrial packaging market. The construction industry requires packaging solutions for the transportation and storage of construction materials such as cement, sand, and steel. The industry requires specialized packaging solutions that ensure that the products are transported safely and are not contaminated. The growth of the food and beverage industry has resulted in a surge in demand for packaging solutions that meet their unique needs.
For instance, In the US, the Environmental Protection Agency (EPA) has set regulations for industrial packaging to promote sustainability and reduce waste. The EPA has established guidelines for manufacturers to use environmentally friendly materials and reduce the amount of packaging used. Thus, driving the Industrial Packaging market revenue.
DuPont announced today that it is introducing a global awards program in February 2024. The Tyvek® Sustainable Healthcare Packaging Awards is the name of this new global awards program. This annual competition aims to acknowledge industry leaders within healthcare who support and enhance sustainability across the lifecycle of packaging. DuPont™ Tyvek® material can be used for sustainable packaging by any medical device and/or pharmaceutical manufacturer, sterile packaging manufacturer, healthcare facility, university, material recovery facility, or other healthcare firm. In addition to the above criteria, the initiative’s implementation date should not exceed 18 months prior to the award application entry date and demonstrate substantial sustainability-focused achievement with measurable metrics.
Pakella, a renowned packaging company, was bought by Antalis, a paper and industrial packaging firm, in February 2024.
Complete Packaging was taken over by Specialised Packaging Group (SPG), a prominent vertically integrated manufacturer of protective packaging goods based in Monroe, Michigan, on behalf of the Spell Family Office portfolio firm in November 2023. Automotive, aerospace, energy, industrial truck defense heavy equipment general industrial are some of the end areas where Complete provides custom-designed solutions for packages.
The Industrial Packaging market segmentation, based on type includes Flexible & Rigid. The flexible segment dominated the market. The increasing demand for convenient and portable packaging solutions and can be easily sealed & resealed, making it an ideal choice for single-serving products, such as snacks and drinks.
Figure 1: Industrial Packaging Market, by Type, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Industrial Packaging market segmentation, based on material includes Metal, Plastic, Paper, And Wooden. The plastic category generated the most income. Their versatility, low cost of production, and suitability for a wide range of applications have made them a popular choice for many industries. Also, often less expensive than other packaging materials, such as metal or glass.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific industrial package market area will dominate this market, owing to a combination of factors such as industrialization, an increase in international trade, a rise in e-commerce, growing consumer awareness, government initiatives, and advancements in technology.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: INDUSTRIAL PACKAGING MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Industrial Packaging market accounts for the second-largest market share due to the rise of e-commerce & increase in demand for packaging materials. Further, the German Industrial Packaging market held the largest market share, and the UK Industrial Packaging market was the fastest growing market in the European region
The North America Industrial Packaging Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to increase in demand for eco-friendly and sustainable packaging materials. Moreover, Canada Industrial Packaging market held the largest market share, and the US Industrial Packaging market was the fastest growing market in the region.
For instance, Flexible Packaging Association (FPA) also shows the growth of the industrial packaging market. According to the FPA's 2021 State of the Industry Report, the flexible packaging market in the United States grew by 4.3% in 2020, with industrial packaging being one of the fastest-growing segments.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Industrial Packaging market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Industrial Packaging industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Industrial Packaging industry to benefit clients and increase the market sector. In recent years, the Industrial Packaging industry has offered some of the most significant advantages to medicine. Major players in the Industrial Packaging market, including Greif Inc., Mondi plc, Amcor Limited, WestRock Company, International Paper and others, are attempting to increase market demand by investing in research and development operations.
Amcor Limited is a packaging solutions provider with its headquarters in Melbourne, Australia. It offers a wide range of packaging solutions to a variety of industries, including food, beverage, healthcare, personal care, home care, and tobacco. It produces a range of flexible packaging products, including pouches, bags, films, and laminates. These products are used for various applications, such as food and beverage packaging, medical packaging, and personal care packaging. It committed to sustainability and has a dedicated recycling business that processes used packaging materials into new products. It is also a signatory to the Ellen MacArthur Foundation's New Plastics Economy Commitment, which aims to eliminate plastic waste and pollution. It is a packaging solutions provider with a diverse range of products and services. It has a strong presence and is well-positioned to benefit from the growing demand for sustainable packaging solutions.
Mondi plc is a leader in packaging and paper production, headquartered in Vienna, Austria, and listed on the London Stock Exchange. It serves a wide range of industries, including packaging and paper, consumer goods, and industrial applications. Its products are used for various applications, such as food and beverage packaging, personal care packaging, and pet food packaging. Also, various types of paper and specialty packaging products, including office paper, specialty kraft paper, and industrial bags. These products are used in various industries, such as construction, agriculture, and chemicals. It promoting a circular economy by recycling and reusing its packaging materials. The company is a signatory to the Ellen MacArthur Foundation's New Plastics Economy Commitment and has set a target to recycle 100% of its plastic packaging by 2025.
FoodChain ID unveiled Sustainable Packaging Services in April 2024, a range of products and expert-guided services designed to guide food brands and their suppliers in meeting market requirements for sustainable packaging. To keep up with emerging global laws on sustainable packaging, these digital services combine established ones with new ones. Both consumer demand and regulations continue driving CPG firms’ focus toward sustainability. For instance, one major proposed regulation in the EU pertains to all packaging waste to guarantee by 2030 that all packaging placed on the EU market is reusable or capable of high-quality closed-loop recycling in an economically viable manner.
Systech has launched a rework solution for exception management targeted at helping manufacturers, CMOs (Contract Manufacturing Organizations), CPOs (Contract Packaging Organizations) as well as distributors reduce data misalignment risks, product delays, and related hazards within the pharmaceutical sector during March 2024. Exception management focuses on identifying and resolving issues that arise during pharmaceutical product manufacturing and distribution, which are used in the pharmaceutical sector for patient safety regulatory compliance concerns and to avoid supply chain delays and product quarantine.
In February 2024, Mondi plc (Mondi), a worldwide leader in the production of sustainable Packaging and paper, gained control over West Fraser Timber Co. Ltd’s (West Fraser) Hinton Pulp mill located in Alberta, Canada, at a valuation of USD 5 million.
In 2023, NOVA Chemicals Corporation (NOVA Chemicals), the leading manufacturer of sustainable polyethylene globally and Amcor signed an MOU to buy post-consumer mechanically recycled polyethylene resin(rPE) for use in flexible films before one that will go into flexible packaging films—one which would be used with plastic wrapping bags—to help boost its global commitment to circularity through increased usage of rPE across various types such as flexible Packaging.
In November 2021, UFP Global Holdings paid about $13.5 million to acquire a 70% stake in Ficus Pax through its subsidiary UFP Industries (UFPI). The US-based multinational is making its first foray into India’s industrial packaging market with this deal.
In January 2024, Greif Inc., who are global leaders when it comes to Industrial Packaging products and services announced a pilot-project agreement with IonKraft – innovations for barrier technology involving plasma-based coatings in January 2024. The focus of the collaboration is on rethinking the recyclability and sustainability issues around plastic jerrycan packaging that needs an additional barrier solution.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 62.56 billion |
| Market Size 2024 | USD 66.00 billion |
| Market Size 2032 | USD 96.01 billion |
| Compound Annual Growth Rate (CAGR) | 4.80% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Packaging Type, Material , and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Greif Inc., Mondi plc, Amcor Limited, WestRock Company, International Paper Company, Orora Limited, Mauser Group, Wuxi Sifang Drums Limited Company, NEFAB GROUP, Sonoco Products Company |
| Key Market Opportunities | Growing technological advancements in the industrial packaging sector |
| Key Market Dynamics | Increasing demand for food products |
Industrial packaging Market Highlights:
Frequently Asked Questions (FAQ) :
The Industrial Packaging market size was valued at USD 62.56 Billion in 2023.
The Industrial Packaging Market is projected to grow at a CAGR of 4.80% during the forecast period, 2024-2032.
Asia Pacific had the largest share in the Industrial Packaging Market
The key players in the market are Greif Inc., Mondi plc, Amcor Limited, WestRock Company, International Paper Company, Orora Limited, Mauser Group, Wuxi Sifang Drums Limited Company, NEFAB GROUP, Sonoco Products Company.
The flexible category dominated the market in 2023.
The plastics category had the largest share in the Industrial Packaging Market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
