Industrial Packaging Market to be Worth $102.4 Billion by 2031

Industrial Packaging Market Size, Share, Forecast, & Trends Analysis by Type (Secondary, Tertiary), Material (Plastic, Metal, Wood, Paperboard), Sector (Retail & E-Commerce, Food & Beverage, Chemicals, Pharmaceuticals, Automotive & Transportation), and Geography - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, 'Industrial Packaging by Type (Secondary, Tertiary), Material (Plastic, Metal, Wood, Paperboard), Sector (Retail & E-Commerce, Food & Beverage, Chemicals, Pharmaceuticals, Automotive & Transportation), and Geography - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the global industrial packaging market is projected to reach $102.4 billion by 2031, at a CAGR of 4.6% from 2024–2031. The growth of the industrial packaging market is driven by the rising demand for sustainable packaging solutions in the chemical industry and the emergence of sustainable and recyclable packaging materials. However, fluctuations in raw material prices may restrain market growth. Furthermore, the increasing focus on packaging design and prototyping services is anticipated to create growth opportunities for market players. However, the absence of uniform regulations for industrial packaging is a major challenge impacting market growth. Additionally, the increasing adoption of biodegradable materials for packaging stands is a prominent trend in this market.

The global industrial packaging market is segmented by type (secondary packaging [crates, trays, sacks, pails, intermediate bulk containers (IBC), drums, and corrugated boxes] and tertiary packaging [pallets, containers { wooden containers and bulk containers}, and fiberboards]), material (plastic [low-density polyethylene (LDPE), high-density polyethylene (HDPE), polypropylene (PP), polyethylene terephthalate (PET, PETE), polyvinyl chloride (PVC, Vinyl), and polystyrene (PS)], wood, metal [aluminum, tinplate, tin-free steel (TFS), and stainless steel (SS)], Paperboard, and other materials), sector (food & beverage, retail & E-Commerce, pharmaceuticals, building & construction, chemicals, petroleum, electrical & electronics, automotive & transportation, industrial machinery & equipment, and other sectors), and geography. The study also evaluates industry competitors and analyses the market at the country and regional levels.

Based on type, the global industrial packaging market is segmented into secondary packaging and tertiary packaging. In 2024, the secondary packaging segment is expected to account for the larger share of 70% of the global industrial packaging market. The large market share of this segment can be attributed to the increasing adoption of secondary packaging among businesses as it facilitates easy handling, stacking, and storage of multiple products. It acts as a protective buffer during shipment, safeguarding the primary packaging. Furthermore, the tamper-evident seals or features incorporated into secondary packaging offer an additional layer of security, ensuring product integrity. Additionally, secondary packaging provides additional space for the inclusion of essential information and labeling, ensuring compliance with regulatory standards and industry regulations.

Moreover, numerous companies are collaborating to offer sustainable secondary packaging solutions. For instance, in August 2022, Mondi plc (U.K.) partnered with Essity AB (Sweden) and Dow Chemical Company (U.S.) to develop recyclable secondary packaging for Essity’s feminine care products, incorporating renewable materials and post-consumer recycled content.

Moreover, the secondary packaging segment is projected to register a higher CAGR during the forecast period.

Based on material, the global industrial packaging market is segmented into plastic, wood, metal, Paperboard, and other materials. In 2024, the plastic segment is expected to account for the largest share of 51% of the global industrial packaging market. This segment’s large market share can be attributed to several factors: the lightweightness of plastic reduces shipping costs and energy consumption during transportation, its versatility allows it to be molded, shaped, and colored into a wide range of designs and forms, enabling custom packaging solutions across various industries, and its compliance with food and pharmaceutical safety regulations ensures industry adherence to strict standards. Additionally, plastic's corrosion resistance makes it an ideal choice for packaging in corrosive environments or for items prone to rusting.

However, the metal segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing adoption of metals such as aluminum and steel in industrial packaging due to their higher durability compared to other materials like paper and plastic. Additionally, the rising utilization of metals such as aluminum and steel is attributed to their excellent barrier properties, effectively protecting products from moisture, air, light, and contaminants. Moreover, metal packaging is designed to seamlessly integrate with automated machinery and processes, thereby facilitating efficient production and packaging lines.

Based on sector, the global industrial packaging market is segmented into food & beverage, retail & E-Commerce, pharmaceuticals, building & construction, chemicals, petroleum, electrical & electronics, automotive & transportation, industrial machinery & equipment, and other sectors. In 2024, the retail & E-Commerce segment is expected to account for the largest share of 24% of the global industrial packaging market. This segment’s large market share can be attributed to the growing demand for well-designed secondary packaging in the retail & E-Commerce sector, which enhances brand identity and makes products more recognizable and appealing to consumers. Additionally, the packaging provides an extra layer of protection for products during transportation, handling, and storage.

Moreover, the retail & E-commerce segment is projected to register the highest CAGR during the forecast period.

Based on geography, the global industrial packaging market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of 46% of the global industrial packaging market. Asia-Pacific’s significant market share can be attributed to the presence of prominent players in the region providing industrial packaging solutions for various sectors, the increasing use of packaging in the retail & E-commerce, food & beverage, and pharmaceutical sectors, the rising demand for eco-friendly packaging solutions, the continuous technological innovations enhancing the efficiency and effectiveness of industrial packaging products and services in the region, and the growing adoption of sustainable materials for industrial packaging driven by supportive government policies, regulations, and incentives.

Moreover, as the adoption of sustainable packaging materials continues to rise, numerous packaging solution providers are offering industrial packaging solutions in the region. For instance, in December 2022, Amcor Group GmbH (Switzerland) opened a packaging plant in China, enhancing Amcor’s capacity to fulfill the increasing customer demand across Asia-Pacific. This new facility will specialize in producing flexible packaging solutions for food and personal-care products.

Moreover, the market in Asia-Pacific is projected to register the highest CAGR of 6% during the forecast period.

Key Players

The key players operating in the industrial packaging market Greif, Inc. (U.S), Amcor Group GmbH (Switzerland), Berry Global Inc. (U.S.) (a subsidiary of Berry Global Group, Inc.), WestRock Company (U.S.), Mondi plc (U.K.), Crown Holdings, Inc. (U.S.), Smurfit Kappa Group (Ireland), Oji Holdings Corporation (Japan), DS Smith Plc (U.K.), Sonoco Products Company (U.S.), International Paper Company (U.S.), Orora Limited (Australia), Sigma Plastics Group (U.S.), MAUSER Packaging Solutions (U.S.), Global-Pak, Inc. (U.S.), and Ficus Pax Private Limited (India).

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Key Questions Answered in the Report:

Which are the high-growth market segments in terms of type, material, and sector?
What is the historical market size of the global industrial packaging market?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the global industrial packaging market?
Who are the major players in the global industrial packaging market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the global industrial packaging market?
What are the different strategies adopted by major market players?
What are the trends and high-growth countries?
Who are the local emerging players in the global industrial packaging market, and how do they compete with other players?

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