INDUSTRIAL PACKAGING MARKET ANALYSIS

Market Challenges And Opportunities

Global Industrial Packaging Market- Drivers

• High Demand for Intermediate Bulk Container across various End User Industries

High demand for intermediate bulk container across various end user industries is expected to drive the market growth of the industrial packaging. It is  available in a variety of materials such as plastic, metal, paper, wood, and fiber. Intermediate bulk container has high demand from food &beverages industry, as it is used to transport bulk amount of food due to growing population around the globe. For instance, according to the SNS Insider reports, the Intermediate Bulk Container Market was valued at US$ 1300 million in 2022 and is projected to reach to US$ 1800 million by 2030, with a compound annual growth rate (CAGR) of 6.7% during the forecast period from 2023 to 2030.

• Emergence of Sustainable and Recyclable Packaging Materials

The trait of package design is sustainability. The environment benefits more from sustainable packaging. Due to concerns over the safe handling and recycling of packaging materials, new laws and policies requiring businesses to recover their packaging materials have been put in place. Consumer packaging materials was targeted because of the amount of packaging waste it produced. Governments and packaging associations are concerned about environmental effects of using commercial packaging. International packaging standards are different and are based on a range of laws. However, there is an enduring push for legislation requiring recyclable packaging and materials. For instance, Companies like Walmart and Coca-Cola are concentrated on packaging sustainability, as it is  increasingly profitable change. By utilizing more resource-efficient designs, and recycled and renewable materials, the Coca-Cola Company has increased the sustainability of its packaging. This factor is expected to drive the global industrial packaging market  growth during the forecast period.

Global Industrial Packaging Market- Restraints

• Stringent Regulations on Usage of Certain Packaging Materials

Stringent regulations regarding the use of certain packaging materials or the disposal of packaging waste increases the cost of production, and limits innovation. For instance, the European Union’s Single-Use Plastics Directive, banned certain types of single-use plastic packaging products. This factor is expected to hinder the global industrial packaging market growth during the forecast period.