INDUSTRIAL PACKAGING MARKET ANALYSIS
Global industrial packaging market was valued at US$ 68,677.9 Million in 2022, exhibiting a CAGR of 5.42%, in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 104,758.5 Million by 2030. Industrial goods are heavy, bulky, sensitive to external atmosphere, and environmentally hazardous. As a result, it is essential to maintain the product for a longer period of time during storage and transportation, especially with hermetically sealed packaging that is protected from external contamination. Industrial packaging differs from other types of packaging in its thickness, strength, and level of protection for long-term storage. The major factors that are expected to drive the market growth during the forecast period are rising building and construction activities in emerging economies particularly India and China, increase in the number of food and beverage industry to meet Population growth and rapid export growth necessitate higher packaging standards for the worldwide market.
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